Chapter 204 of 2021 is the time for state civil servants to declare property again. Regarding insurance, more and more friends are asking us about "Does civil servants need to declare insurance when buying insurance?" and "What insurances need to declare property when buying prop

2021 204

It is time for national civil servants to declare property. Regarding insurance, more and more friends are asking us about "Do civil servants need to declare insurance?" and "What insurances need to declare property"?

Next, we will answer them one by one.

Do civil servants need to declare insurance?

The answer is yes, but not everyone and all insurance must be declared. Article 4 of the newly revised "Regulations on Reporting Personal Matters by Leading Cadres" (hereinafter referred to as the "Regulations") stipulates that Leading cadres (deputy department level or above) shall report on the investment of their own, their spouse, and their children who live together or hold stocks, funds, investment insurance , etc. in other ways.

What does it mean to live together in children?

The so-called "children who live together" refer to the minor children of leading cadres and especially adult children who cannot live independently. Including children born in wedlock, children born out of wedlock, adopted children and stepchildren in raising relationships.

What does investment insurance specifically mean?

The "Regulations" explain the following explanation of "investment insurance": refers to insurance products with dual functions of protection and investment, including personal insurance investment insurance and property insurance investment insurance.

2020's "Personal Matters Report Form for Leading Cadres" also explained in detail: "Personal Insurance Investment Insurance" refers to an insurance product that still takes effect as of the date of filling out the product, and the product name contains the words "both insurance", "annuity insurance", "investment-linked" or "universal" and other; "property insurance investment insurance" refers to a property insurance product that still takes effect as of the date of filling out the investment fund (including insurance savings, investment funds, guarantee funds, investment subscription funds, investment subscription funds, etc.) to obtain insurance protection, and obtain principal and its income (loss) as of the contract.

Special reminder

Holding investment insurance situation abroad (including Hong Kong, Macao, Taiwan) also requires declaration and fill in the "Overseas Investment Situation " item.

In summary, the following insurance needs to be declared:

1. Both insurance , life and death, the insured dies during the insurance period agreed in the insurance contract, or still survives when the insurance period expires, the insurer shall pay the insurance premium according to the contract.
2. annuity insurance , during the survival period, the insurer shall pay the insurance in installments at the agreed time interval, and the common one is paid once every three years and once a year. Among them, the age of the pension annuity insurance to pay the insured's survival insurance shall not be less than the retirement age stipulated by the state, and the time interval between the two adjacent payments shall not exceed one year.
3. Investment link insurance , you can choose to adjust multiple investment directions such as the stock market to obtain income insurance.
4. universal type , universal account settlement has a minimum guaranteed interest rate, fixed investment direction, and there is a chance to obtain insurance with uncertain returns above guaranteed returns.

or less insurance, no requirement is required to declare:

1. lifetime life insurance . Whenever death or total disability occurs, insurance will be paid in one lump sum.
2. term life insurance , insurance for one-time compensation if death or total disability occurs within the agreed period.
3. Disability income loss insurance , insurance that provides insurance for the insured to reduce or interrupt the income within a certain period of time due to the disease or accidental injury stipulated in the insurance contract.
4. Major Disease Insurance , insurance for major diseases occur within the agreed period and compensation occurs.
5. Medical Insurance , the corresponding medical liability occurs within the agreed period and the insurance is compensated.
6. Accidental injury insurance , death or disability caused by accident or other accidents agreed in the insurance contract, and compensation insurance occurs. Accidental disability is compensated according to the insurance payment ratio corresponding to the disability level.

Finally, the understanding and implementation standards of "investment-oriented insurance products" are different in various civil servants, enterprises and institutions. If you have any doubts during the application process, please consult relevant professionals on the one hand, and on the other hand, you can also seek help from the organizational unit.