Posted by In the previous "American Life Insurance Strategy Guide (XNUMX): Demand"In the article,American Life InsuranceThe guide combines the characteristics of life-long products in the U.S. market,American Life InsuranceThe product requirements are analyzed, and Chinese insured users at this stage are advised to choose insurance products or insurance policy design schemes according to the following starting points:
- In order to fully protect yourself and your family
- In order to have income after retirement
- In order to prepare children’s education funds and life-long protection
- In order to guarantee the income of financial management
- For wealth inheritance, asset transfer protection and reasonable tax avoidance
When the goal is clear, the next step is to ask yourself: What are the core misunderstandings that need to be paid attention to in the process of achieving the goal?
"Buying life insurance" is not a supermarket shopping, and the purchase object is not a standardized consumer product
Misunderstanding XNUMX: "Insuring is to'consume' to buy a product"
Some policyholders believe that a life insurance policy is a standardized product, as long as it is the sameInsurance companyThe name or the policy product with the same name is the same.Therefore, where you buy it, you get the same effect.
This is a great misunderstanding.
Although anything sold in the U.S. marketLife Insurance Products, Have been reviewed and approved by the Insurance Bureau to ensure the basic quality.Specific to a certain life insurance policy product, it usually provides a flexible basic framework. Practitioners need to use the "toolkit" in this framework to "create" a solution to meet customer needs.
However, in the actual sales design process, even if it is a policy product with the same name, the policy design plan "created" may be completely different due to the different needs and budgets of each policyholder.
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Secondly, because of the sales process of life insurance policies, "people" are required to participate in it.The selection and design of life insurance policy accounts is also an area that requires a high degree of specialization.Therefore, in the face of the same insured, the same insurance needs and budget, different life insurance brokers, according to their starting point, professionalism, standpoint and value orientation, etc., the product selection and account design plan will also be different.
We use a metaphor to describe this link.
You plan to build a house, the goal is to livePension,do you need:
- Choose suitable land and building materials(Choose a suitable life insurance policy product framework)
- By the architect(Life Insurance Broker), Combined with material properties(Tools, features, and terms that can be provided within the life insurance policy product), Design a house design and construction plan(Design scheme of insurance policy account)
- Finally, the contractor will follow the design and construction plan(The life insurance company executes the design plan)Construction to achieve the purpose of living.
From this process, we can learn that the core of a life insurance broker is a "policy architect".This oneProfessionalism of life insurance brokers, quality of design solutions, Will directly determine the quality of future "old-age housing".
Therefore, we can say:Insuring is not buying an insurance policy, but choosing a "life insurance broker"和"Insurance policy design scheme".
Next, let’s look atAmerican Life Insurance GuideSeveral case studies provided.
Misunderstanding XNUMX: "I want to choose a cost-effective insurance policy design plan"
"The price is cheaper and the insurance coverage is higher. Why not buy this policy plan?"
There is no problem with this life experience for buying "consumer" insurance products.Such as car insurance, pet insurance, health insurance, and term life insurance, these are pureconsumer goods, Generally speaking, whoever has the lowest price is competitive.
but,America'sCash value insurance, It is not a "consumption" product, but a "financial management" financial account.If we agree with the functional benefits brought by this kind of products, don't we use this effect?After paying for the account,What will be the result, we will conduct a case analysis below.
If you don’t recognize this essential difference,In each of us, the purchase experience and stereotyped thinking of "consumer products" formed in the process of long-term consumption behavior day after day,Will make ourselves the victims of misguided sales.
It’s also about online and in the real world, a lot ofAmerican insurance scam, IUL scam, American insurance trap"The fundamental source of the most discussed hot issue.
Since it is a financial management account, the design plan of the policy account, how much premiums must be paid each year, how much insurance can be bought back (Death Benefit), and the display or prediction of the future situation all depend on The hands of the broker.and soThe data of an insurance policy can be made "good-looking" by brokers in accordance with our daily consumption habits, but at the same time, it can also be made "conservative".
The "good-looking" design scheme, first, can attract the attention of customers, and when the customer does not distinguish the essential attributes of the product, use "Cost-effective, cheaper premium, or higher sum assured"The selling point of ", prompting customers to make the sales decision of the transaction, and secondly, it can bring higher levels to the "designed" brokers.commission, But what are the disadvantages?"risk".
Case study one
To give a common case, most insurance companies’Universal insurance policyProducts with No-Lapse Guarantee (guarantee continuous guarantee)additional terms, Usually 10 to 20 years.
This additional clause means that within 10 years (or 20 years), even if the value of the policy is not enough to cover the cost of insurance, as long as the payment reaches the minimum cost to maintain the policy, the policy will not be broken.
But if the designer takes advantage of this, design a copy for the policyholderWith the lowest premiums, you can buy a large amount of insurance with great leverageThe plan seems to be very "cost-effective": the insured pays less, but the insured amount can reach millions, or even tens of millions,It feels "more cost-effective", But what will happen next?
Once the insured purchases suchDesignIn the policy, the insured amount is enlarged and the payment is made at a lower cost. The internal cost corresponding to the larger insured amount will inevitably increase.
Maybe there will be no problems in 10 years.However, after 10 or 20 years have passed, this additional clause has expired.At this time, if the market does not perform according to the expected interest rate, then the cash value in the policy account is already insufficient, and the higher the death benefit insurance amount corresponds to the higher cost. At this time, it becomes "The last straw that broke the policy account",Until this time, Will self-certify, the design plan when applying for the insurance policy,Is unreasonableSince then, the annual professional audit and risk management of insurance policy accounts have also been seriously lacking.
Finally, 10 years after signing the contract and applying for the policy, 20 years later,The insured will eventually have to face the dilemma of "breaking insurance" or "replenishing money".
This is also one of the few customers who bought this kind of "insurance policy design plan" and shouted after 10 years "Life insurance scam"The reason. However, the contract is in black and white and must be observed. This painful experience, from the perspective of the parties, has become a substitute for the financial and insurance industry."human nature"The black history of the back pot.
What’s really regrettable is that the insured familyThe most precious 10 years, even 20 years of "time" wealth,Given by this designSquandered and wasted.
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American Life Insurance Guide©️Reminder to life insurance policyholders
01. In the selection of the life-long life wealth management policy design plan, please be sure not to use the "price ratio" as the insurance account opening standard for the cash value policy account. For the reason, please click"Is American Insurance Cheap?" Evaluation Column.
02. The more conservative the whole life insurance design of the predicted interest rate (including the predicted dividend rate), the smaller the risk that the insured bears, and the higher the rate of achievement of the policy target.The higher the predicted interest rate of life insurance design, the higher the risk that the insured bears.American Life Insurance Guide的记者采访了有20多年从业经历的资深代理商，对于挂钩S&P500的指数型保单，其建议演示利率不要超过7%（截止2019年1月）。
03. Risk management is a persistent thing.Choose professional, dedicated, and professionalLife insurance brokerOr the insurance policy design plan planner cooperates.On this issue, there is no difference between institutions and individuals, and ultimately all point to "people" as independent individuals.Regarding this, a simple way of judgment personally summarized by the author is to ask yourself, are you willing to be friends with this person for 20 years?
04. BecauseLife insurance brokerPlease confirm the relationship between your life insurance sales broker, life insurance policy plan design broker, and the final life insurance policy signing broker.In the legal sense, only the life insurance broker who signed the name on your policy has a "relationship" with you.On the importance of this question, please refer to point 03.
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