Bancassurance Products Or New Direction Of Financial Management

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Bancassurance began in Europe in twentieth Century, and has been developing rapidly in the domestic market in recent years.

As a new concept of insurance, bancassurance reflects the characteristics of bank and insurance companies joining hands and interacting with each other in financial cooperation. The products of Bancassurance are the integration of different financial products and services, and complement each other and develop together.

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In fact, bancassurance products are the insurance that consumers can buy through bank counters. Their biggest selling point is "protection plus income", and the earliest insurance type sold through banks is also the risk of saving dividends.

Bancassurance insurance safety and speedy insurance guarantee service

At present, the life insurance companies in Chongqing have basically cooperated with banks to sell insurance products through banks.

For consumers, they can enjoy a safe and convenient insurance service through bank outlets or financial centers.

Cost reduction - insurance companies through intensive banks

Safe and reliable -- through banks to process insurance related procedures, we can ensure the safety of consumers' funds.

Buying convenience -- in recent years, with the acceleration of urbanization, the integration of urban and rural areas has been gradually realized. Banks have invested heavily in the construction of outlets, and the outlets are distributed throughout the urban and rural areas. Consumers can buy insurance products anytime and anywhere, and at the same time facilitate the combination with family budgets to select products that meet the actual needs.

Bancassurance increases the cost of a happy life.

Sun Yongxia, a financial planner of the Chongqing branch of ICBC, said that peace is a blessing, adding a guarantee to oneself in the process of career struggle is to add chips to himself and his family's happiness.

Managing finances

At present, most of the bancassurance products in the market have both financial and insurance functions, which can meet the increasingly diversified investment and financial needs of consumers.

Liu Fang, deputy general manager of Bank Insurance Department of Pacific Life Insurance Chongqing branch, and MS. RFP, the US registered financial planner, told reporters that with the continuous development and maturity of the bank insurance market, various insurance companies have paid more and more attention to the needs of Bancassurance customers, and developed a new type of bancassurance products according to the needs of customers.

In addition to having the main function of the bancassurance product -- financial planning, this new type of Bancassurance product can also add additional medical insurance function or have medical insurance function on the basis of the original accident protection function of the product.

New direction of family insurance in Bancassurance

The sluggish and continuous instability of the stock market has made countless investors walk with the curve or joy or worry of the market, and walk hard between "rich" and "negative".

However, it is gratifying to note that whether it is the rich man who accidentally made a fortune, or the wily old man who was cautious but unfortunate, he began to realize that "putting eggs in different baskets" is a more reasonable way to manage finances.

In this process, bancassurance, a stable financial tool, has been recognized and accepted by more and more families. It has become one of the main financial options for family asset allocation.

From the perspective of family financial security and wealth management, the demand for insurance protection is natural. In international practice, the allocation of insurance should account for 10% of the total household assets.

But in the vast array of products that banks and insurance companies offer, what kind of products are suitable for themselves and their families? What do we really need and why we need most people do not understand, nor do we know clearly.

When it comes to family financial planning, financial planners of Chongqing branch of Bank of communications told reporters that bancassurance products are financial products with functions of investment, financing and protection. They are simple in design, simple in insurance, and relatively short in term. They not only have the functions of saving and investing, but also provide comprehensive guarantee and considerate services. They have the characteristics of guaranteeing basic income, sharing dividends and exempting taxes, and are the main types of insurance against inflation and interest rate risks.

From a practical point of view, the product structure of bancassurance is relatively simple, highlighting the nature of financial management.

There are many categories of bancassurance products. According to the classification of payment, they can be divided into wholesale and paid products. According to the way of return, they can be classified into deposit insurance and annuity insurance. According to the classification of product types, they can be divided into bonus products, universal products and investment linked products.

At present, most of the insurance products sold by banks are mainly based on dividend. Investors should fully understand their needs and consider the factors such as economic conditions, health status, existing medical benefits and family health history, so as to select the most suitable products.

Now, many insurance companies design bancassurance products besides the bonus function. They also focus on strengthening protection, including cancer prevention insurance, double accident protection, specific accident protection, etc. these products are very suitable for people aged 25 to 50 years old.

Some companies have introduced high security products for the aged, which are more suitable for people from 30 to 55 years old. It can be used as a guarantee for the elderly and a supplement to the social security.

At the same time, combined with the needs of high-end customers, some insurance companies cooperated with banks to develop exclusive insurance products for high-end customers to meet the special needs of high-end customers in terms of asset value preservation and Heritage Inheritance.

In the allocation of family assets, we can select different banks' insurance products according to the different forms of products and the needs of families in different periods to effectively avoid risks and do well in financial planning.

In the future, with the deepening of cooperation between insurance companies and banks and the continuous improvement of service quality, consumers will enjoy more convenient, fast and satisfactory insurance coverage at bank outlets. Bancassurance will also become a new main direction for Chinese consumers to invest in financial management.

Tip: cash value of insurance policy

Some consumers reflected that they had bought the bancassurance products in the bank, but later they wanted to refund the insurance. But the staff of the bank said that they could not refund the money in full, and the interest would be lost, and they could not understand it.

Insiders also remind consumers that most of the bancassurance products are financial products that require long-term investment. If the insurance contract is not yet mature, the customers can only withdraw the cash value of the policy if they surrender.

So when customers choose to buy insurance products, they should make rational decisions and do their best.

The so-called cash value is that in the long-term life insurance contract, the insurance company usually needs to reserve a certain amount of reserve fund to fulfill its contractual obligations.

When the insured asks for a cancellation or surrender within the validity period of the insurance, the insurance company will refund the balance of the reserve reserve to the insured after deducting the deductible deduction, which is the cash value of the policy.

The value of cash generally increases as time goes on.

There are different cash value in different types of insurance, so cash value specifically refers to the surrender money of a certain type of insurance (usually according to the time of payment and surrender).