As one of the insurance channels, the insurance products sold by bancassurance channel are essentially the same as ordinary insurance products, but the functional design of the products will be somewhat different due to different customer groups. What are the characteristics of the products of bancassurance channel? Although they all sell insurance, the insurance products in the bancassurance channel are not allowed to be sold by the agents of insurance companies at the same time, which is slightly different from the products sold by agents. Bancassurance products are simple and clear, with clear income, convenient insurance and slightly lower rates. Consumers can directly sign insurance contracts with bank staff when they go to the bank, just like handling deposit and withdrawal business. Money is generally in the form of wholesale payment, which can be transferred directly from the bank account. There are relatively few types of bancassurance, mainly dividend insurance, universal insurance and investment-linked insurance, and the payment method is mostly wholesale payment, that is, one-time payment. Among them, investment-linked insurance is one of the most risky insurance products. Its complexity can't be explained clearly in the short-term communication between ordinary savings counters in banks, and it is easy to be misled. Because the CIRC has restricted the sale of investment-linked insurance at ordinary counters of banks, investment-linked insurance can only be sold at financial centers and counters of banks, not at savings counters, and the premium paid for new orders shall not be less than 30,000 yuan. Some complicated health insurance and long-term life insurance cannot be sold in banks. Because in addition to a series of procedures such as physical examination, banks can't guarantee that the specific scope of protection and exemption clauses are difficult for non-insurers to explain clearly. In addition, the relationship between the insurance company and the bank is only a cooperative relationship, and the bank only provides sales channels to earn handling fees and does not assume any guarantee responsibility. In the event of an insurance dispute or insurance claim, consumers must contact the insurance company directly.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.