1. Design of minimum living allowance: According to No.20 16 andNo. 199 of the China Insurance Regulatory Commission, Zhiyue Life Insurance was asked to stop selling because the minimum living allowance did not meet the slogan of "insurance surname is insurance" advocated by the China Insurance Regulatory Commission. Specifically, the insured amount should be 105% of the policy value and the basic insured amount, whichever is larger, while the insured amount of Zhiyue Life Insurance is really low.
2. The product is too complicated: Zhiyue Life is a versatile "big and complete" insurance product. In addition to the main insurance annuity insurance, there are additional clauses such as serious illness, term life insurance, accidental injury, accidental medical treatment, hospitalization, hospitalization allowance, and policyholder exemption. However, this "big and complete" design leads to the complexity of the product and increases the understanding difficulty and operational risk of the insured.
3. The income model is not stable enough: the interest rate of universal insurance products is not fixed, and the real interest rate is greatly affected by the market. This makes some investors unable to accept this uncertain income model, so it is difficult for Zhiyue Life Insurance to meet the market demand.