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Worry-free health value-added plan is an investment insurance launched by PICC Health, which has high guaranteed income and floating income mechanism linked to deposit interest rate, and has certain characteristics in the current bancassurance products. However, due to the complexity of its income calculation, it is difficult for many investors to know the yield level of their products in different years at once, so they try to make a simple analysis for investors. Guaranteed income: On the premise that no insurance accident occurs and the insurance period expires, the income of the constant worry-free health value-added plan is divided into guaranteed income determined by the initial customer loyalty bonus amount and floating income linked to the deposit interest rate. Only the guaranteed income part is considered for the time being. This product allows the insured to buy this product as a premium at a certain discount of the insured amount, and then pay a certain initial loyalty bonus according to the insured amount after the expiration. Discount and loyalty bonus vary according to the insured period and the age of the insured. Only the rate of return of the insured aged 0-50 is calculated here. Take the three-year period as an example. When the insured buys this product, the premium is 938 yuan, and the insured amount is 1000 yuan. After the expiration, they can receive the initial loyalty bonus of 52 yuan, that is, after three years, 938 yuan can be changed into 1052 yuan, and the annualized rate of return is 3.8973%. Accordingly, the five-year period changed from 898 yuan to 1 103 yuan, and the annualized rate of return was 4.1981%; 10 changed from 808 yuan to 1300 yuan, with an annualized rate of return of 4.8705%. Floating income part: The floating income formula of this product is provided in official website, which looks quite complicated. In fact, to put it simply, the daily interest is calculated according to the after-tax time deposit interest rate of the corresponding year (3 years in 3 years, 5 years in 5 years, 5 years in 10 years), and then the daily interest is calculated and accumulated by paying the premium. Take the three-year period of 0-50 years old as an example, the fixed value is 3.8%, while the after-tax deposit interest rate of the current three-year period is 5. 13%, that is, the floating income can be obtained according to the annual interest rate of 5. 13%-3.8%, that is, 1 0.33% (according to/kloc- Assuming that the interest rate of time deposit will remain unchanged for the next three years, if you buy 1 000 yuan at a premium of 938 yuan, you will get an additional 938 yuan in addition to 52 yuan's initial loyalty bonus. .33%? = 37.43 yuan, that is, 938 yuan becomes 1089.43 yuan, and the annualized rate of return is 5. 1 152%, which is higher than 4.8873% after the current three-year regular after-tax interest rate is converted into compound interest. Of course, because this part of the income will follow the change of the regular interest rate, it is not a guaranteed income. It is particularly noteworthy that the fixed value of this product for 0-50 years and 10 years is 4.4% and 6.6% respectively, especially the latter is much higher than the current 5-year after-tax interest rate of 5.5575%, and it is almost impossible to obtain floating income unless the interest rate of time deposits rises sharply in the next 5 years. Summary: If you believe that the interest rate of time deposit will not drop or even rise sharply in the next three to five years, then this product is undoubtedly a good choice, which not only has low guaranteed income, but also floating income brought by interest rate increase, as well as additional unexpected protection. However, if you think that the interest rate of time deposit can't be high for a long time, or even drop sharply, it's better to choose time deposit or national debt to lock in the yield. For example, the recently issued certificate-based (Phase II) national debt in 2008, the 3-year coupon rate (simple interest) is 5.74%, and the 5-year coupon rate (simple interest) is 6.34%, and the corresponding annualized yields are 5.4298% and 5.66 16% respectively. As for the 10-year product, although its floating income is difficult to obtain, considering that there is no 10-year time deposit at present, the latest 10-year national debt (book-entry (three-phase) national debt in 2008) is only 4.07% in coupon rate, and the corresponding annualized rate of return is only 3.4736%.