With the advent of the "May 15 National Investor Protection publicity Day" in 2024EzbaccarattableSino-American Liantai Metropolitan Life Insurance Co., Ltd. (hereinafter referred to as "Metropolitan Life") actively implements the relevant deployment requirements of the State Financial Supervision and Administration and adheres to the value orientation of "people-centered". For the purpose of promoting financial consumers' risk prevention awareness and financial literacy, we should publicize the concepts of rational investment, value investment and long-term investment, and guide the industry to continuously promote the construction of integrity culture. We will effectively protect the legitimate rights and interests of financial consumers and serve the high-quality development of the financial market.
In recent years, regulatory authorities have issued new policies to strengthen the principle of "consumer appropriateness" and protect the legitimate rights and interests of financial consumers. What exactly is the principle of "appropriateness", and how should consumers use the principle of "appropriateness" to choose appropriate insurance products and protect their legitimate rights and interests?
Generally speaking, the principle of "appropriateness" refers to the degree of agreement between the products and services provided by insurance companies and customer demand, financial situation, risk tolerance, corresponding financial knowledge and investment and financial management experience.
The measures for the Protection and Administration of Consumer Rights and interests of Bancassurance institutions requires that bancassurance institutions should establish a consumer appropriateness management mechanism, evaluate the risks of products and implement hierarchical and dynamic management, carry out risk awareness, risk preference and risk tolerance assessment of consumers, and provide appropriate products to appropriate consumers. The measures for the Management of Insurance sales behavior also clearly requires insurance companies to manage salespeople and products at different levels and match each other, so as to improve the "appropriateness" of the products.
This requires that insurance companies should follow the principle of "appropriateness" and provide appropriate products or services to appropriate consumers through appropriate channels, so that consumers can make investment choices and buy more suitable products. At the same time, insurance companies should also perform the duties of protecting consumers' rights and interests before, during and after insurance sales, comprehensively standardize insurance sales behavior, achieve source control, and better safeguard the legitimate rights and interests of financial consumers and the good order of the industry.
Mr. Zhang, an ordinary office worker, recently received a telemarketing from an insurance company recommending him to buy a high-priced life insurance product. On the phone, the salesperson claimed that the product had a wide range of protection, was well rewarded, and was well suited to Mr. Zhang's needs. Although Mr. Zhang has some knowledge of insurance, he is not clear about the details of this product. He asked the salesperson some questions, but the salesperson did not give a clear answer, but constantly emphasized the advantages and returns of the product. In the end, Mr. Zhang was persuaded by the salesperson to buy this life insurance product. However, after the purchase, he carefully read the terms of the contract and found that he did not understand some of the important terms and details, and the premium of the product was much higher than his budget.
In this case, the insurance company and the salesperson did not follow the principle of "three appropriateness" in the sales process. First of all, they did not provide Mr. Zhang with appropriate products and did not recommend insurance products suitable for him according to his needs and risk tolerance. Second, they did not adopt appropriate sales methods, did not provide Mr. Zhang with detailed product descriptions and risk tips, but used fraudulent, misleading and other improper means. In the end, they did not choose the appropriate sales target and sold the products to Mr. Zhang who did not have the purchasing ability or insurance demand.
Metro Life Friendship reminds financial consumers that when buying insurance products, they should pay attention to the following points, so that insurance can better play the role of escort.
First, the purchase of insurance needs to choose regular channels. When financial consumers choose and buy insurance, they should handle insurance business from compliance institutions that hold insurance business licenses or sales staff who handle effective professional registration in insurance institutions, and do not buy insurance products through informal channels. At the same time, we should also pay attention to guard against the risk of implementing telecom fraud and illegal fund-raising in the name of insurance. If you have any doubt about the sales organization or personnel, you can confirm it through the insurance company's official customer service hotline.
Second, the purchase of insurance needs to choose appropriate products. When choosing insurance, financial consumers should raise their awareness of risk prevention and avoid temptation such as "higher returns" to buy or exchange products and services that exceed their own risk tolerance, so as to avoid unnecessary disputes. At the same time, we should also pay attention to the fact that when signing a contract, we must not "follow the trend to the end" or buy at will, and pay attention to guard against risks such as confusion and ambiguity of insurance liability, exaggeration of insurance liability and false propaganda in the marketing process.
Third, attention should be paid to information security in handling business. When purchasing insurance and handling insurance business, financial consumers should take good care of personal identity documents, bank cards, financial accounts, etc., and not easily entrust others to go through the relevant formalities on their behalf, so as to avoid illegal use, disclosure or trading of personal information. Online and offline insurance must be confirmed by themselves, be careful to sign, authorize, pay and other important links, to ensure that they understand the contents of the signed or authorized agreement. Avoid the loss of personal property.
Fourth, we should safeguard our rights in accordance with the law and guard against the risk of "acting to safeguard our rights". When financial consumers have disputes with financial institutions over the purchase of products or receiving services, they should make demands through consultation with financial institutions, applying to industry mediation organizations, reflecting to financial regulatory departments, and filing lawsuits with people's courts. Do not trust the false promises of lawbreakers, do not be encouraged to participate in illegal activities, and avoid falling into the legal risk trap.