There is a normal product replacement every year, and it is impossible to fail because the products bought last year are discontinued this year. Any products on sale or discontinued will be subject to strict regulatory restrictions to ensure the smooth progress of the claim. For any insurance company, completing the insurance policy is the beginning of protection, not the end.
Speaking of which, my senior wrote an original article before: What should I do if the insurance I bought stops selling? Will it affect my safety?
From a professional point of view, this paper analyzes the influence of product suspension after purchasing long-term insurance and short-term insurance on future protection and how we should deal with this influence.
The second question: Why did it stop selling?
China Banking Regulatory Commission (CBRC) issued new regulations and stopped supervision: As we all know, the supervision department of banks and insurance companies is CBRC. If the CBRC thinks that the design of a product is not in compliance, it is normal for the insurance company to stop selling. What's more, some companies have launched products that are too radical and have crossed the regulatory red line. It is also possible that the insurance company is suspected of violating the rules. In this case, the product will also be required to stop selling.
Product upgrade, update iteration: in this era, no matter what products, the update speed is better than anything else. Many companies' old products will be upgraded on the basis of the original products in the new year. For example, many critical illness insurances will have three versions: 20 17, 20 18 and 20 19, and each upgrade will be adjusted on the basis of the old version.
Low product rate, no profit margin: this situation is more common, because some products are indeed priced very low, insurance companies have no profit margin, and the natural sales time will not be too long.
The product design is very good, and the hidden danger of loss is too great: if the design of an insurance product is cost-effective, the sales volume is also very good, but after calculation, it does not make money, and if it continues to sell, it may even lose money. At this time, you will naturally choose to stop selling;
Of course, there are other reasons, such as interest rate cuts, and insurance companies will lose money. Since 2009, the one-year benchmark interest rate has been lowered from 2.5% to the current 1.5%. A few years ago, insurance companies used high interest rates to make a fuss in order to win more policies. In the environment of falling interest rates, these products will face the risk of interest rate inversion. On the other hand, interest rate cuts have a negative impact on the investment returns and insurance spreads of insurance companies.
Fake goods pause, sales trick: here, we are going to knock on the blackboard. Sometimes, stopping insurance will also be the usual sales trick of insurance companies. Moreover, many people usually make insurance decisions easily with the mentality of "no more buying, no more later". However, many people began to complain about the defects of the products after purchase. Therefore, when making insurance choices, I suggest that you keep your eyes open and proceed according to your actual needs.