The 1990s was a period of rapid development and inflation in China. At that time, a goal was put forward, that is, a soft landing of the economy. The bank's time deposit rates are as follows:
From 1993 to1August 1996, the bank's one-year time deposit rate was 9%, and the five-year time deposit rate was 12%~ 13%. It was not until 1997 that the corresponding interest rate gradually came down.
For example, it is normal for insurance companies to set an annualized interest rate of 9% in order to develop attractive products and occupy the market.
To tell the truth, the current guaranteed interest rate is generally 1%~3.5%. When the era of high interest rates suddenly promises the era of low interest rates, the high returns promised by insurance companies at the beginning should also be fulfilled. This kind of loss is borne by the insurance company and is generally called "spread loss".
Come to think of it, were you rich in the 1990s? How much money can everyone have to buy commercial insurance when there is no money? 1996, it is quite remarkable to buy commercial insurance with 1000 yuan. Don't forget to deduct the management fee and commission from the money you paid.
Even if calculated according to 1 1,000 yuan, generally speaking, the rolling time of interest is about 30 years. 1.09 to the 30th power, the result is 13.26 times. In the end, only 132600 yuan will be paid. Is it a lot of money? At present, the annual income of insurance companies exceeds several trillion yuan.
Therefore, don't worry, as long as it is agreed in the policy, the insurance company will generally implement it.
What if it can't be cashed? Then go bankrupt.
Looking forward to buying an insurance with 9% compound interest of tens of thousands of yuan in the past, it seems that it is better to take money to invest in housing. However, in any case, this is a huge sum of money.
Is 9% written in the contract?
What you said should be that the predetermined interest rate is 9%, not 9% clearly stated in the insurance contract.
Let's talk about it here, whether it is the predetermined interest rate of 9% or the commitment of 9% in the contract, it is not a problem, and the insurance company will not cheat.
If it is a verbal commitment of 9%, this is debatable, because the dividends and universal settlement given by insurance companies are given according to the operating conditions of insurance companies.
The 9% you mentioned may be the predetermined interest rate designed by the insurance company when designing insurance products. If it is a predetermined interest rate, there is no problem, and the insurance company will not cheat, because when designing insurance products, the predetermined interest rate will affect the pricing assumption, that is, the rate of insurance products. After the rate is determined, the insurance products will not change.
Even if the future predetermined interest rate is removed, it will not affect the previous predetermined interest rate of insurance products, and the insurance company must pay the insurance premium in the way agreed in the contract.
1996 The predetermined interest rate of insurance companies is really high, which leads many insurance companies to pay insurance benefits in the way agreed at the beginning, which is stipulated in the contract, and insurance companies will not cheat.
The products sold at the beginning were really good. Whether it is sickness insurance or return insurance, as long as you bought it at the beginning, you have made a lot of money now. After all, the predetermined interest rate of insurance products is very low now, the highest is only 3.5%, even between 2.5% and 3% after the agreed interest rate of most insurance companies, which is not the same as the previous predetermined interest rate of insurance products.
The answer to this question contains many misleading and very wrong contents. So answer it.
1. Is there a policy that promises 9% compound interest?
Yes. This is the product of the specific high interest rate period in the late 1990s, and it is a life insurance product. Looking through the history, we can know that during the period of high inflation in the 1990s, the interest rate of bank deposits was as high as 12%. Life insurance products with fixed interest rate are generally calibrated with the bank interest rate, which is usually higher than the bank interest rate.
So 9% compound interest life insurance products are available. I bought it myself in 1997 and was finally forced to surrender.
This kind of products mainly come from China Life Insurance, China Ping An and China Pacific Insurance, and most of them are group insurance products of that year. The highest product compound interest exceeds 10%. The country has sold a total of dozens of billions. You can see the descriptions of these products in the listing announcements of China Life Insurance, Ping An Insurance and Pacific Insurance. Especially China Renshou, because these products suffered serious losses, this part of assets was transferred to the Ministry of Finance when they went public. Ping An pays for itself, and now it will lose about 2 billion yuan every year.
So, those who say no, shut up or study history.
Can you guarantee the payment?
First of all, we must popularize the insurance law. China's "Insurance Law" stipulates that life insurance companies shall not close down. Therefore, in theory, all life insurance policies will not be lost because of poor management of the company. This kind of protection is even better than bank deposits. Only 500 thousand will be guaranteed if the bank fails.
In particular, China Life Insurance Policy, which is underwritten by the Ministry of Finance, should be very reliable. After all, losing billions a year is really not a problem for the Ministry of Finance. For Ping An 2 billion, CPIC 10 billion is nothing.
Therefore, as long as the insurance company operates normally, it will certainly not be shameless.
But what will happen if the insurance company can't continue to operate?
It says that life insurance companies will not go bankrupt. But if the business is not good, it will be taken over. At that time, there may be special treatment for policies with high interest rates and serious losses.
China hasn't happened yet. For example, life insurance in Japan. At that time, a Japanese life insurance giant could not continue to operate and was taken over by the Japanese government. At one time, the interest rate negotiation was as high as 6%, with only 2% interest rate (the figure is not accurate, almost, Japan had zero interest rate at that time). In other words, I reneged on part of the interest. But the principal is still guaranteed.
At this point, I think we can combine the above information to judge whether the insurance company will cheat. If I have to answer, it is that the probability of high heels is very small.
Who holds this part of the policy is also a good investment. Take it and enjoy the benefits.
Before 1999, most domestic insurance companies sold life insurance policies. Now, the insurance company is at a loss. Therefore, there was a time when insurance companies would send insurance agents to lobby those policy holders to surrender or change to other types of life insurance policies to reduce losses. But as long as the insured insists on not changing, then the insurance company has no choice but to continue to fulfill its obligations in accordance with its past commitments.
Why are life insurance policies before 1999 basically losing money? Because the deposit interest rate in China was very high at that time. The calculation of insurance interest rate is positively related to the deposit interest rate, that is, if the deposit interest rate is high, the discount rate in whole life insurance will be high, so the insurance interest will be great. Then the deposit interest rate has been falling for 20 years. At this time, we look back at the insurance policy at that time. That's almost all income.
For example, the interest rate of one-year time deposit in 1996 is 7%. If you were insured at that time, especially for life insurance with a fixed return of three or five years, you might pay a total premium of 6,543,803 yuan, and get a return of 20,000 yuan every five years, and get a life insurance of 6,543,800 yuan when you die. But the current one-year deposit rate is 2%. If you buy this type of life insurance again, you may have to pay a total premium of 200,000-300,000 yuan. This is the positive correlation between deposit interest rate and policy value.
Especially from 1996 to 1998, the predetermined interest rate of life insurance products is as high as 6%, 7%, 8% or even 9%. After 1999, the interest rate of bank deposits began to decline, and many insurance companies caused huge spread losses (referring to the losses caused by the investment and utilization rate of insurance funds being lower than the average predetermined interest rate of effective insurance contracts). Since then, the upper limit of the predetermined interest rate of life insurance has been "nailed" to compound interest at 2.5% annually, and no return clause may be attached.
In recent years, many insurance companies will lobby the users of these old policies, hoping to surrender their insurance and give them so-called gift money and some extra compensation. If the customer agrees, it is really stupid. Because the promises of compensation of life insurance companies are insignificant, the most correct way at this time is to hold on to the policy in your hand and resolutely not surrender.
As long as he doesn't surrender, the insurance company can't help it. He must pay according to the refund promised in the policy and the amount of death. In fact, the CBRC also has some policy support for this part of the old insurance policies, allowing insurance companies to calculate the single account, and specially set aside a part of the amount to subsidize and gradually resolve the risks.
The insured can rest assured that even if the insurance company has incurred huge losses, even bankruptcy liquidation, it will not affect the income of this policy. According to the regulations, if the insurance company goes bankrupt, all policies must also extend the insurance liability and will not end early.
It can be said that the insured at this time is the most worthwhile life insurance policy in life. Mr. de also has shares, and now he has a return every five years.
I'm sure I'll be shameless 9% compound interest, there is no such investment channel in China to support such a high return. The insurance company's policy will definitely not clearly write such a return. If there is, it may be playing with words, and careful scrutiny is not valid. The bigger possibility is the expected income, which has really not been realized, and no one can do anything about it. There are also many times when the salesmen of insurance companies make random promises without opening the door, deceiving customers to buy products.
Don't worry, the insurance company will definitely do as written in the contract. As for whether you will lose money, you can't think so After all, the insurance industry is different from other industries. When the policy takes effect, your interest rate will basically be determined in the next few decades.
Why are there such high policy interest rates? It had a lot to do with the high interest rate of the whole society at that time. Although the insurance policy will determine the income in the next few decades, the social environment at that time should also be considered when selling insurance.
Your current policy interest rate is generally around 3%. Although it doesn't look high now, after a few years, the interest rate of the whole society has dropped. If you look back, you will be surprised at how high the policy interest rate is!
As long as it is written in the contract, the insurance company will not default. I have a 20-year insurance policy with a fixed interest rate of 4.025%, and the corresponding annual cash value is written in the contract.
At that time, I bought a batch of contracts in the countryside, and I have seen them. You can't imagine the cost performance. Later, how the insurance company handled these contracts will be asked by these people who bought them at that time.
First of all, know what an insurance company is.
The conclusion is that the enterprise is a profitable and powerful enterprise, and all its business activities are for profit.
Knowing this, I have a general idea. If you pay compensation according to the agreement, you will have to pay dozens of times in decades. How can an insurance company rest assured? But insurance is actually financing. Insurance companies are not short of money, and there is still a lot of money to deposit in the bank and invest.
Every time an insurance company carries out a business, it keeps the profit range through the budget. For example, if a certain place engages in agricultural insurance, farmers will pay a certain premium. However, in the event of a disaster, the insurance company will not pay for it for various reasons, and will only pay tens of yuan of the total harvest. When farmers don't trust insurance companies, insurance companies don't want to bother about this disdainful income, so agricultural insurance is empty and auto insurance is desperately fighting for it.
Therefore, default can happen, because they don't want to start this business, and there is no need to bother to pay for it.
9% is the plan for you (and it is calculated according to the high level, the middle level is generally 6%, and the low level is 3% or 4.5%). The values are for reference only, not as the contents of the contract. Generally, the contract will only write the guaranteed interest rate, which is generally around 2.5%.