Jimu News reporter Xu Wei
The exclusive commercial pension insurance pilot has reached its "one year old". In the past year, the China Banking and Insurance Regulatory Commission has further expanded the number of participating insurance companies. Starting from March 1, 2022, the exclusive commercial pension insurance pilot area will be expanded to the entire country. In addition to the aforementioned 6 personal insurance companies, the pilot institutions will also include all professional pension insurance companies. On June 29, reporters learned from the Hubei Banking and Insurance Regulatory Bureau that as of now, nine personal insurance companies in Hubei have participated in the pilot.
Taikang Life Hubei Branch staff introduce exclusive commercial pension insurance products to customers (picture provided by Taikang Life Hubei Branch)
According to the relevant person in charge of the Personal Insurance Division of Hubei Banking and Insurance Regulatory Bureau, the nine companies in Hubei participating in the pilot are: PICC Life Insurance, China Life , Taiping Life , China Pacific Insurance, Taikang Life , Xinhua Insurance , Taikang Pension , Taiping Pension, Ping An Pension. Through the offline + online dual promotion model, each pilot institution has widely publicized and actively promoted through multiple channels of group insurance, bancassurance , individual insurance, and online (official website platform, Alipay ). As of May 31, 2022, the province's exclusive commercial pension insurance has underwritten 4,640 orders, accumulating a pension of 233 million yuan.
It is understood that exclusive commercial pension insurance, as a policy-guided insurance product, has the characteristics of flexibility, safety, long-term, optional and benefiting the people. The flexibility is reflected in the low minimum premium payment requirement. During the pilot period, some products can be invested with a minimum of 100 yuan. The payment period is flexible. Monthly payment, annual payment or single payment can be selected. The policyholder can suspend payment during periods of financial stress, and the pension insurance account will not expire. ; Safety is reflected in the "guaranteed + floating" account income model. Stable accounts have a minimum guaranteed rate of return of 2%-3%, and aggressive accounts have a guaranteed rate of return of 0-0.5%; long-term performance is reflected in the product purpose. In order to help consumers save for the future, the surrender requirements are more stringent. There will be losses when surrendering the policy in the early stage. It is clear that long-term holding until the age of 60 is the entry period, thereby guiding consumers to accumulate pensions in the long term; optionality is reflected in product offerings. There are two types of accounts, prudent and aggressive, for policy holders to freely choose or configure in combination. During the validity period, the prudent and aggressive accounts can also be converted; the benefit is reflected in the fact that the sales fee of exclusive commercial pension insurance is much lower than other commercial pension insurance products on sale. , the pilot companies will waive initial fees and account switching fees during the pilot period to fully benefit consumers.
Industry insiders also said that exclusive commercial pension insurance is a component of the third pillar of pension insurance and is also an important attempt by commercial insurance companies to develop the third pillar of pension insurance. Exclusive commercial pension insurance is not only suitable for flexible employment groups, allowing them to easily pay for comprehensive protection, it is also applicable to all people with social security pensions, helping to broaden the source of pensions, adding to the pension, and better satisfying the people's multi-level pension insurance. protection needs.
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