Can I surrender if I buy Ping An Insurance, Smart Win Insurance and Universal Insurance? Is it cost-effective?

It is strongly recommended to surrender the insurance immediately. Short-term pain is better than long-term pain.

Don't have the illusion that you can enjoy life-long protection with peace of mind after paying the premium, because this product and its sister product "Wisdom Life" both contain a lot of tricks, and Ping An will mislead you to modify the policy by phone in the later stage, so it will be in vain in the end.

Among the insurance policies that our technical team in Cai Yun helped consumers analyze, Ping An Zhisheng Life Insurance and Zhisheng Life Insurance had the largest number of complaints, and we also analyzed that customers suffered the most. You have to admire Ping An for designing such complicated and exquisite products, and consumers who buy this insurance are being calculated everywhere.

Here are a few examples:

1. The main insurance is designed as universal savings insurance, and there are many kinds of additional risks, ranging from death to serious illness and accidents. The purpose of this design is to facilitate the sales staff to make ends meet when selling. If the customer needs death protection, yes! If customers pay attention to health, it is a serious illness! If the customer still wants to make a profit, the main insurance has the function of saving. It is really universal insurance. However, this design is the basis of all kinds of pits I will talk about later, because all kinds of functions are mixed, not to mention ordinary consumers. As experienced actuaries, we have made great efforts to completely deconstruct them. For example, the main insurance here is like the membership card you opened in the barber shop. Only by depositing money can you be slaughtered.

2. The premium payment method is designed as installment payment (installment payment), but what most consumers never expected was that the first premium you paid was deducted by 50% immediately! ! ! And this point, many consumers said that the agent did not explain when signing the bill. So once you pay the premium, after a hesitation period of 10 days, you will lose more than half of the premium. At this time, you are caught in the embarrassing situation of getting a membership card from the barber shop. You want to get away, you find nothing to do 10 days, and you lose thousands of dollars. I can't wait and see, but I didn't expect there are many buttons behind. Ping An will continue to deduct 50%, 25%, 15%, 10%, 10%, 5% and 5% of the policy management fee ... I'm afraid it's not hard to understand why the salesman told you that you can not pay the premium after five years, because the commission he got after five years is only a few percentage points of the premium you paid. These deductions are actually reflected in the statement you got, but it's a pity that you saw it too late.

The screenshot is as follows:

This is even the company's obligation to solemnly inform that the expenses have been deducted. Most of the customers we helped were scared when they saw this place. It goes without saying whether they were cheated or not.

But it's not over yet, a bigger pit is yet to come! ! That is to say, the above insurance policy is only the initial fee, which means that the money is used to send commissions to the agents and their leaders. The additional risks you buy need to be deducted separately, which is the risk management fee specified in the contract. And this risk management fee is also very difficult. Simply put, it is to make you look inexpensive when you are young, but the cost rises rapidly. Take the form given by the topic as an example. Suppose the subject is 30 years old and male, then the cost of critical illness insurance is 0.96 yuan per thousand yuan, but after 20 years, it is often when most consumers pay the premium and start to enjoy "life-long" insurance, you will find that your critical illness insurance cost has soared by 548%! ! ! From 10 to 60 years old, it has soared to 14 1 1%! ! ! Not to mention, after 80 years old, your safety cost has increased by nearly 100 times! ! ! In other words, unconsciously, the risk premium rose rapidly. If you want to enjoy life-long security, you have to pay a huge price. If the balance of your main insurance account is insufficient, I'm sorry, the policy will be invalid. If you think, damn it, I paid so much premium, how uneconomical is it to say that it is invalid? ! Then you still have a solution, that is, continue to fill this bottomless pit with money.

It's not over yet, there are more shameless pits behind! If you are not short of money, would you like to deposit more money in the universal account of universal insurance to keep the insurance amount of 200 thousand? Peace will not let you succeed easily. Their customer service sister will call you at a very inexplicable time and say that she has been engaged in activities recently. If you are willing to make a small adjustment, you can pay a lot less premiums every year and your account income will not decrease. If you agree in a daze on the phone, your insurance amount will be reduced to be close to the value of your policy. At this time, if you have an accident and need to make a claim, then your insurance coverage of 200,000 will easily become 20,000 to 30,000. In the past, we met a wonderful story that consumers paid 42,000 premiums and finally got 4 1 0,000 compensation after their death. He felt very strange, but Ping An showed the evidence that the customer approved the reduction of the insured amount on the phone. Your money is gone anyway. For decades, your money has been in people's pockets, and people have plenty of opportunities and ways to fool you.

Therefore, it makes sense for @ Chang 'an Kege to mention not to rush to surrender, but this is only theoretical. In practice, we still suggest taking early rest to avoid future troubles.

Here, I would also like to remind consumers that insurance products are virtual products, which are different from other goods you usually buy. I can't see it before I buy it, and I can't use it immediately after I buy it. Therefore, whether it is good or bad, swindlers often have to wait a long time to see it. Once they are discovered, they have already caused losses. Even the loss is uncertain, because many insurance products require you to pay the premium for a long time, so you dug a big hole for yourself with a little carelessness. At that time, you will find that if you don't pay, the money in front will be gone. Keep paying, and you may lose more money. ...

Another digression is that the "Wisdom X Life" series is regarded as an IQ test product in actuarial circles, that is, whether an actuary is brain-dead depends on whether he/she is willing to buy this type of product. For details, please refer to one of my past answers.

Ping An has several universal insurances that sell well. One of them is called "Wisdom X Life", which has tens of billions of premium income every year. But in fact, its design is too complicated, and it is difficult for consumers to detect the tricks.

Friends of Ping An Actuarial Department often joke like this. You see how poor the actuarial level of X is, even buy "wisdom X life". You can swallow it.

Ping An's agent told the product designer in the actuarial department that you don't have to worry about whether the product is bad or not. As long as you leave us enough commission, we can sell it, which is indeed the case.

In fact, there are many similar products in China, not only the Ping An family is selling them, but also I hope everyone will try to avoid them, especially if they don't know the details of their products, otherwise it will be easy to dig a big hole for themselves.

These deceptive products usually have the following characteristics:

Pay the premium in advance, that is to say, pay the premium in installments for many years. In this way, once the hesitation period is over, it is equivalent to putting a rope on yourself. Continue to pay, as if it is not worth it; Don't continue to pay, the money in the account will soon be deducted by the insurance company in the name of various expenses; If you want to surrender, the cash value you can get is pitiful compared with all the premiums you paid in the past, and you really can't bear to cut your meat.

With universal financial management as the main insurance, combined with a variety of other additional risks, it seems to have protection and financial management, and it is a mixed protection plan. In fact, the yield of such products is not ideal, and the guarantee cost is also very expensive. Just because it is complicated, consumers can't judge.

Sales are often carried out through agency channels, and about half of the premium you paid in advance is used to pay commissions to them and their leaders.

We hard actuaries are almost schizophrenic when designing products:

Products that are beneficial to customers often need to compete with agents/channels for profits, and the commissions given to them need to be returned to consumers (nonsense, I give you commissions in the hope that you can explain the products to consumers clearly and harass them every day if you don't explain them clearly. Why should I reserve so much commission for you? )。

However, due to the support of sales channels, the sales volume of this product is often small or even unknown. If you can't bring a lot of premiums to the company, the company will naturally not support it.

For products that are beneficial to the company, actuaries often need to rack their brains to complicate the product and mix high channel fees and deceptive terms into a complex product. It is difficult for consumers to judge and compare, and finally rely on the "flicker" of sales staff to let consumers sign the bill without knowing it.

If the actuary dares to tell the truth inside the company and refuses to design such a complicated product, he will be accused at the meeting. The bosses of many channels are proud to scold the chief actuary, saying that "actuaries don't know shit, and the chief actuary is often scolded by me to dare not let go" and "the bad products they designed can't be sold at all, only I know what customers will buy"

I hope consumers can be more rational in the choice of insurance products. Please don't buy products you don't understand.

Published on 20 15-05-25

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