Posted by Life insurance applications increased by 5.2%
#New crown pneumonia virus outbreakUnder the circumstances, more and more families are aware of the family safety net that life insurance can build.
MIB, located in Massachusetts, provides insurance companies with information sharing services for underwriting in various aspects such as application records of applicants.The data monitoring of three different age groups through MIB shows thatThe application behavior of young policyholder groups has improved significantly.
©Credit MIB/ThinkAdvisor
According to the MIB Life Index, during the home quarantine period, after two consecutive months of policy applications declined, May 2020 ushered in5.2% year-on-year growthAnd V-shaped restoration.
Allstate insurance company layoffs
Allstate, akaStatewide Insurance.Allstate Insurance, Announced the layoff plan on June 2020, 6.
CEO Global President Tom Wilson said in a recent video conference call that in order to reduce company costs, all levels of the company"Thousands of jobs" positions will be laid off.The specific layoff details will be announced in the next date.
Global Atlantic lowers Cap and illustration Rate again
Global Atlantic(Chinese temporary translation:Global Atlantic.Evaluation) Major insurance companiesTargeting the foreign wealth management marketIndex policy products Global Accumulator IUL, Once again lowered the display interest rate this year1.To 6.4%.
Due to the legal restrictions in the first two stages of AG49, the reduction of the product display interest rate means that the product’sIndex capping returnAdjustments have also been made.
According to the data provided by the IMO agency, as of press time, the current S&P 500 index of this product has a one-year point-to-pointRevenue capHas been reduced to10.5%.Under the new indicators, the average return rate for the 20-year period is5.9x%.
Industry Commentary
Affected by many factors such as the Covid-19 epidemic, interest rates have continued to fall. Some insurance companies have recently increased their premiums or adjusted the core indicators of their products.For consumers, this is not something they want to see.
Only when the tide goes out will you know who has been swimming naked.
Since 2018, some insurance companies that sell well in the Chinese community have lowered their prices to varying degrees.Index return ceilingCap (related news).The change of this indicator will have a qualitative impact on the cash value of the policy.
In reality, consumers at the initial stage of insuring,Often happy to see the "beautiful" numbers on the policy design——The historical origins and financial strength of the insurance company itself are often ignored by policyholders or taken over by policy sales personnel.
American Life Insurance GuideA reporter from, contacted a large insurance agency based in California, and raised questions about whether the insured should choose a "good product" or a "good company".
The person in charge of the company said frankly, "Some products are good, and the plans that can be made at that time are also very good-looking, but we have doubts about the financial affairs of the insurance company that issues the products, so we do not take the initiative to sell."
"Some companies have strong financial strength and are not so affected by low interest rates. In addition, the main customer group is domestic customers, which is a small risk and is also the favorite customer group of insurance companies. However, the performance of the product may be Very average."
Good product + ordinary company, or ordinary product + good company, how would you choose? (Finish)
