Talk about the insurance pit

You have to save money anyway. Our bank now has a new wealth management product, which is more expensive than the due interest of the deposit bank. Will protect the capital and interest, and now there are discounts. How nice it is to give you a rice cooker!

The original intention was to deposit money in the bank, but how did it become insurance in the end? I believe many people have had this experience. Originally, I went to the bank to save money, but as a result, I was fooled by the sales staff and bought insurance in a muddle. In the end, they couldn't get back the principal of the emergency money. If they want it, they will deduct the principal, even if it is overdue. What's more, some places are aimed at the elderly, because money is easy to fool.

0 1 case review

According to Litchi News, on August 2, 2020, the original title was "The illiterate old man bought 200,000 financial insurance? The insurance company suddenly came to the door and said that a policy had expired.

The salesman of China Pacific Insurance Hai 'an Branch in Jiangsu Province found Ms. Qian's home and said that Ms. Qian's mother bought a dividend insurance of the company on 20 10, with a premium of 50,000 yuan a year and a payment period of 5 years. It has been paid for four years now, and the premium of 1 year has not been paid yet. Because it has not been paid for a full year, this policy has now expired.

At that time, Ms. Qian and her mother were stunned. I don't know what happened. Ms. Qian said that her mother didn't know a word, and it was difficult to write her own name. How does she go back to buy insurance?

Ms. Qian asked the shop assistant and her mother carefully before she learned that Ms. Qian had been working abroad and gave her mother a sum of money every year, which happened to be 50 thousand every time. During 20 10, my mother was withdrawing money, and the bank staff introduced her to "a business", saving 50,000 yuan every year for five consecutive years, and she can enjoy dividends after 10. According to Qian's mother's memory, the salesman said that the bank is active now, and as long as it is deposited for four years, it can be deposited for five years and one year.

Reporter: Did the bank clerk tell you that this is insurance?

Qian Mu: No, I buy insurance. I go to the insurance company. I can't buy insurance at the bank.

Qian Mu also said that she could not read and it was difficult to write her own name. At first, the staff member was handling it, and I did whatever she asked me to do.

Seeing me struggling to copy something, she wrote it herself and asked me to sign it.

After that, every time Ms. Qian sent money home, her mother would go to the bank and "save" 50,000 yuan each time. She has been "saving" for 4 years, totaling 200,000 yuan.

After understanding this situation, Ms. Qian took her mother to the branch of the largest bank in the local universe to print the relevant materials filled out by her mother at that time. Obviously, the customer's signature place is not her mother's autograph!

In order to further confirm, Ms. Qian asked the bank to call out her mother's signature when handling related business in the bank. Obviously, this is not a person's handwriting. When Ms. Qian wanted to take photos for evidence, the bank staff quickly turned off the computer.

Before, Ms. Qian complained to the bank many times that the bank staff signed for her mother, and the bank said that it would conduct an internal investigation first. What's the progress now

President in charge of the branch: I personally feel that the market was not so standardized at first. To tell the truth, sometimes salespeople don't speak properly.

Among them, Ms. Qian believes that insurance companies have the same problem, and there is no notice when paying in the fifth year. When the policy is invalid due to untimely payment, the insurance company should also bear the corresponding responsibility.

Also present was the head of the insurance company Haian Branch. The person in charge said that it is true that we have the obligation to inform the customer when renewing the payment. However, in some cases, the customer may change his phone number or move without informing the insurance company in time, because the salesman of this banking channel has left his job, and it will be easy to lose contact with the customer.

The signature is in doubt, the management is chaotic, and banks and insurance companies "kick the ball" with each other. Ms. Qian asked the banks and insurance companies to be responsible. What should I do in the end?

After consultation, the insurance company can reinstate the invalid money mother policy, and the bank will compensate the interest loss during the period according to the highest interest standard of the bank in the same period.

The above is the whole content of this report. The certificate of deposit change policy broke out around 20 10 -20 15, and similar reports were everywhere, which almost destroyed the bank's own trust foundation, and then it was improved with the timely adjustment of the regulatory authorities. Although it is rare to see such a situation now, the trend of banks selling insurance company products as agents or setting up their own insurance departments for "cross-selling" has been finalized, so this sales method of "certificate of deposit changing into insurance policy" will still exist, but it will evolve into a more subtle and advanced sales form.

For example, now you will be asked to make a video of the whole process, so that you can sign it in person and answer the phone, and you will be clearly told that it is an insurance product. But so what? They designed the process, and there are 10,000 ways to avoid the loopholes in the process. We don't really care whether it's bank financing or insurance products. As long as there is a certain income from the due capital preservation, the salesperson will exaggerate the actual income and seduce you with some small gifts, and you will still be fooled. Then find out the actual content of insurance and the original promise.

It's not that insurance is not good, but that we should clearly understand that the content is really consistent with the insurance contract, rather than taking the verbal commitment of the salesperson as the actual content of the contract.

02 case study

1. Why do banks have to sell wealth management insurance products?

At present, many banks will post some so-called "wealth management products" in the counter lobby. In fact, most of them are insurance products Many people don't understand why banks must sell insurance products. It seems that they can't live without selling insurance products now.

In fact, the reason is very simple. The reason why banks sell insurance at the risk of damaging their reputation is nothing more than profit-driven.

Banks selling insurance have two main advantages. One is channel income. Banks used to earn money mainly by the difference between deposits and loans, but now it is more and more difficult to absorb deposits, and the loans released are easy to be recovered. It is difficult to maintain income growth in this way, so other businesses are needed to expand. Undoubtedly, the financial insurance of the bank agent insurance company is definitely not free. Every sale must have a certain commission, and the premium involved is very high. At least tens of thousands of cases, hundreds of thousands or even millions are also common. Then think about the fact that banks are in contact with high-quality and high-net-worth people, and the insurance commission they sell will naturally not be less. In fact, this part of the performance has indeed become one of the main sources of income for banks.

The second one is more important. Bank deposit is the most basic and fancy. We should find that the insurance products represented by a bank in the whole province are generally from one company, and we rarely see the products of other companies. What does this mean? Quite simply, the bank has an agreement with the insurance company. In addition to the sales commission, it is more important for banks to take a fancy to the asset management account of insurance companies. No matter how good your insurance company is, it needs to be in the bank.

Ok, let's briefly introduce the reasons why banks must sell wealth management insurance products. Whether you admit it or not, this cooperative relationship will certainly continue to exist, so let's talk about what everyone cares about most.

Second, why do financial insurance sold by banks always "pit" our consumers?

In fact, the root cause is three factors, the essence of financial insurance, our cognition and the professional level of sales staff.

1, the essence of financial insurance

The essence of financial insurance is a medium-and long-term investment, which provides a safe, stable and predictable guarantee, which is characterized by low short-term or actual comprehensive income, low risk and low income, high income and high risk. This is the most basic feature of finance. Whether it is guaranteed insurance or wealth management insurance, the actual insurance benefits still come from providing protection, which will not change. Financial insurance seems to be a means of increasing wealth. In fact, the core protection interest is the protection of death, but most of us don't pay attention to this and stare at the so-called "high income".

Therefore, no matter what channel you buy wealth management insurance through, you must understand this essence. What is the difference between insurance and deposit? That is, in terms of years, financial insurance is not as flexible as deposits. Once you sign a financial insurance contract, you must abide by the relevant years. If you fail to achieve the purpose of withdrawing money, you will unilaterally save the contract, and the loss of principal will be borne by you.

According to the operation mode of financial insurance, it is divided into three stages. The first stage is the "principal repayment stage"; The second is "the account amount has reached the principal"; The third is "the beginning of real interests".

Simply put, buying financial insurance is equivalent to lending money to an insurance company. The insurance company will return your principal every year according to the terms of the contract design. When can I repay the principal? This is what we need to know very well, and then we will really give you a certain income according to your principal.

Taking this case as an example, the insurance name Qian Mu in the video is rather vague.

According to the policy of 20 10, it is sold through bank channels and belongs to Pacific Insurance Company. The name of the insurance I found is Hongfubao Old-age Security (dividend-paying type), the payment period is 5 years, and it expires at 5000 10 every year. Then I'll analyze the actual income with you in combination with this policy. Because I don't know Qian Mu's age at that time, let's assume that he is 53 years old.

The guaranteed benefits are as follows:

1.53 years old to 63 years old, the minimum living allowance is 10% every two years and the insured amount is 5375 yuan. If it is 10 year, it will be collected in five installments, and one * * * is 26875 yuan.

2.63 years old, pay 24 1875 yuan at maturity.

3. Uncertain dividend (we don't know how to distribute the dividend, but it must depend on the premium).

Step 4 provide death protection

(1) At least the basic insurance amount * the number of years of premium paid in the contract, and the insurance amount is 53750. The person who paid for 4 years died unfortunately and paid 2 1.5 million;

(2) In case of accidental death, pay at least 2 times of the basic insurance amount * the premium paid in the contract, and also pay 4 years. If the personnel are absent due to accidents, at least 430,000 yuan will be paid;

(3) In case of death in a traffic accident, at least 3 times of the basic insurance amount * the paid contract premium period shall be paid, and the same amount shall be paid for 4 years. If I am absent due to a traffic accident, I will pay at least 655,000 yuan.

It can be seen that the essence of this dividend insurance that is biased towards financial management is to provide protection.

If we put aside the responsibility of the guarantee part and only look at the income, then this insurance fund can get at least 268,750 yuan after the expiration of 10 (the dividend is uncertain and cannot be calculated, so the amount here is the least money we can get).

What is the income level? It is equivalent to 250,000 one-time deposit in the bank 10 year, and the annualized rate of return is only 0.7%. Of course, if 50,000 yuan is deposited for five years, then if 250,000 yuan is deposited in the bank for five years, the annualized interest rate is only 1.5%.

I won't calculate what the real interest rate is. Too much trouble. I will measure it according to the calculation method of "genius". The income of normal wealth management insurance should be higher than the real annualized interest rate of bank deposits for five years, but it is not much higher.

Judging from this kind of insurance, regardless of the impact of dividends, this kind of financial insurance must not be suitable for the elderly. Coupled with the compulsory savings 10 years later can not be withdrawn, the responsibility of death protection is eliminated, and the actual overall income is the same.

2. The professional ability and quality of sales staff are low.

Do you think this insurance is worth buying? If you can make it clear, I think people in need will still buy it. If you don't know clearly, many people will be fooled. Is the salesperson's so-called "higher interest rate than deposit in the bank, and you can also take some gifts at any time to protect the capital and interest" unbelievable?

In fact, in some cases, it's not that salespeople cheat on purpose, but that they don't know themselves. There is a good saying, what you don't know is fearless, and what you don't know is not wrong! The salesman doesn't understand himself. He learns how others teach him and how others sell him. Everything is based on vested interests, everything is based on vested interests. Who cares what happened after you? Anyway, at that time, because the salesman didn't know himself, he didn't feel that he was wrong.

Most of the salespeople in insurance companies are like this. Don't think that bank staff are better than them. The actual situation is that most of them are not as good as the sales staff of insurance companies. I don't need to say more about how to stagger. Even if an industry has to strive for perfection to reach a certain height, the bank's sales staff are quite capable of coping with the past with their own bank's assessment system. They can't relearn the insurance content. Anyone who has worked for a long time will only circle in the field he is familiar with.

3. Our cognition

For insurance, it has always been because I don't understand the industry and what the contract is written. The knowledge barrier required by insurance itself is really high. On the surface, there is no requirement for sales staff. You can follow the gourd painting gourd ladle and sell such a paper contract. As a result, all kinds of unhappiness even affected their due interests, which made many people lose their reason and confidence in the insurance industry.

To put it bluntly, it seems impossible to satisfy our honest sales of "one is one, the other is two" only through industry self-discipline and supervision. Then we must improve consumers' cognitive ability and avoid being deceived and fooled by the ambiguous so-called "high income" of sales staff. After all, we spend our own money and benefit ourselves. We don't "care" about what we buy, and rely entirely on the commitment and trust of others. I don't think it's reliable

03 case summary

For those who are cheated into buying "into the pit", the most important thing at present is to rearrange the actual benefits of this kind of insurance, calculate the term and benefits, and see clearly the guarantee period on the policy rather than the payment time. The first mistake that many of us easily make is to regard the payment period as the guarantee period. The payment period refers to the number of years you have paid the premium, not that you can control it at will after paying the premium, but only after the end of the guarantee period. Take Qian Mu as an example, the payment is due in five years, 10, not five years, so even in the sixth, seventh, eighth and ninth years, the principal cannot be moved, as long as it wants to recover the principal before the deadline, it is a loss.

Then calculate the approximate income after maturity to match your actual needs. If it is found that the gap between the actual income and the original sales commitment is too large and the feeling of being cheated is unbalanced, it is necessary to measure the cost and difficulty of safeguarding rights. If it is not acceptable, we should try our best to improve the corresponding evidence and complain to banks, insurance companies or local CBRC about rights protection.

Of course, it is not that all products are not good, but that the specific content of the term and income should be clear. Financial insurance is a medium-and long-term plan of funds. As long as the collocation meets the actual needs in the future, some products are still good, but generally older people should be cautious, and it is best to discuss with their children before making a decision.

Have you ever been cheated into buying insurance when you went to the bank to deposit money? How do you feel? You can choose 0 people and 0% to buy it, and you think the proceeds can be bought by 0 people and 0%. You were completely tricked into voting.

Write it at the end