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Guangzhou Will Vigorously Promote The Establishment Of Tax Extended Pension Insurance System

2010/11/10 10:04:00 42

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According to voice of china CNR news, the Guangzhou municipal government issued the "opinions on vigorously promoting the comprehensive reform of Guangzhou's insurance industry" at the beginning of this year, saying it would vigorously promote the establishment of a tax extension type.

endowment insurance

System to explore the development of reverse mortgage housing endowment insurance.

The opinion did not provide a specific timetable for the implementation of the above system.

The general operation is: owning

Housing property right

The old people mortgaged the property right to banks, insurance companies, etc.

Finance

The institution will then receive "pensions" from financial institutions every month or year, and will continue to receive housing rights and maintenance, until the borrowers die.

When the borrower dies, the financial institution obtains the property rights of the house, sells, rents or auctions, and proceeds to repay the principal and interest of the loan and enjoy the appreciation part of the house.

For the "housing endowment", the insurance company is cautious.

China Life Insurance has conducted Market Research on this kind of insurance, but it has not been implemented at last.

They say, "these products are more westernized, which are far from the traditional Chinese concept of real estate, and the market acceptance is not high."

Some people say that although the "housing endowment" looks very beautiful, it may encounter some difficulties in its implementation.

First, there is no "gnawing old people" in foreign countries, but everywhere in China. "Housing endowment" is a challenge to China's national conditions.

Second, the important reason for foreign countries is inheritance tax, but it is still blank in China.

Third, how to make a forward-looking definition of housing prices after a number of years? If the housing price fluctuates too much, how will the insurance company end up in the face of a large number of default contracts? Fourthly, even if the insurance companies hold large quantities of real estate resources and how to realistically circulate under the condition that the domestic intermediary market is yet to be improved, fifth, such "housing endowment" is a "joint insurance". It is necessary to calculate the life expectancy of two couples. If one of the elderly lives longer, when the contract expires, does the insurance company drive the elderly out of the house? In addition, the right to use housing in China is only 70 years old, and it is also not conducive to the implementation of "housing endowment".