We must look at this problem from four aspects:
What kind of public officials need to declare? Part II What kind of insurance policies need to be declared?
Will the third part be found if it is not declared?
What will happen if the fourth part is not declared?
What kind of public officials need to declare?
Not all public officials at all levels have to declare their property. According to the "Regulations on Reporting Personal Matters by Leading Cadres" (hereinafter referred to as the "Regulations") issued by the General Office of the General Office of the Central Committee of the CPC and the State Council in April 20 17, leading cadres below the division level are required to declare their property.
We can see that not all public officials have to declare their property. Usually, only deputy cadres at or above the county level are involved in property declaration (some places require departmental declaration, and the pilot areas for departmental cadres' declaration include: Beijing, Anhui, Guizhou, Hainan, Qinghai, Xinjiang, Jiangxi, Jiangsu, Guangxi, Gansu, Shaanxi and other parts of more than a dozen provinces, autonomous regions and municipalities, and the reporting system for personal matters has "sunk" everywhere).
What kind of insurance policies need to be declared?
According to the regulations, invest or hold stocks, funds, investment insurance, etc. In other ways, it is a declaration. Therefore, whether to declare the insurance policy depends on whether the insurance type belongs to the investment type, and if it belongs to the investment type, it needs to be declared.
"Investment insurance" refers to insurance with dual functions of protection and investment. There are two types of insurance: life insurance investment insurance and property insurance investment insurance.
"Life insurance investment insurance" refers to insurance products purchased from life insurance companies, health insurance companies or pension insurance companies, and the names of insurance products contain the words "old-age security", "annuity insurance", "investment-linked insurance" and "universal insurance". If so, it is generally considered necessary to declare this policy.
I bought insurance in Hong Kong. Do I need to declare?
First of all, the investment insurance required by the regulations does not distinguish between domestic and overseas (including Hong Kong) policies. If the insurance policy in Hong Kong is investment insurance, it is also a property that needs to be declared.
Secondly, the "Regulations" require that the investments made by oneself, spouse and children living together outside the country (territory) be declared. Literally, it should include overseas investment insurance.
Whether public officials and their families apply for Hong Kong insurance policies depends on two points: 1) whether the applicant belongs to the applicant or his spouse or children who live together; 2) Look at the policy type-whether it belongs to investment insurance.
There is no mention of trust in the whole regulation. Then, if the customer is a civil servant and changes the applicant to a trust trustee after insurance (this can be done in Hong Kong), should the customer declare this trust with an overseas policy loaded? Legally speaking, after the trust is established, the trust property no longer belongs to the client. At present, there is no clear regulation. Perhaps with the increasing frequency of offshore trust business for mainland customers, relevant regulations will be clarified.
Will it be discovered if you don't declare it?
The "Regulations" clarify the information checking mechanism, including the judicial, procuratorial, diplomatic (foreign affairs), public security, civil affairs, land and resources, housing and urban-rural construction, people's bank, taxation, industry and commerce, financial supervision and other units to undertake relevant information inquiry responsibilities, and should truthfully provide the inquiry results to the organization department.
In other words, the organization department has a way to understand hidden real estate, deposits, insurance policies, equity, etc. A true, complete and accurate report is the safest way to avoid occupational risks.
What are the consequences of not declaring?
Failure to report on time without justifiable reasons, or omission, underreporting or concealment, depending on the seriousness of the case, shall be given criticism and education, adjustment or disciplinary action. Of course, if the exposed property involves violation of law and discipline, it will be investigated for other legal and disciplinary responsibilities.