Bank Insurance Regulatory Commission: tax extension endowment insurance follows the principle of long term lock and lifetime collection.

category:Society
 Bank Insurance Regulatory Commission: tax extension endowment insurance follows the principle of long term lock and lifetime collection.


Statistics show that the personal tax deferred commercial endowment insurance refers to the preferential policy that the state gives the commercial endowment insurance policyholders the delayed payment of income tax. In April 12th of this year, the new Beijing News reporter learned from the Ministry of Finance official network, since May 1, 2018, in Shanghai, Fujian province (including Xiamen) and Suzhou Industrial Park to carry out individual tax deferred commercial pension insurance pilot, the trial period is tentatively fixed for one year. The director of the Banking Regulatory Commission said that guidelines is the basic requirement and unified standard for the development and design tax insurance products for insurance companies. The main contents include four parts: design principles, product elements, product management, and noun interpretations. The insurance companies involved in the pilot of the tax extension pension insurance should be in accordance with the guidelines and related issues. The regulation of insurance products stipulates that the development and design of tax extended pension insurance products can be listed on sale after the approved tax extended pension insurance products are approved. From the guidelines, the development of tax extended pension insurance products should follow the principle of steady earnings, long-term lock up, lifetime pay and actuarial balance. For example, in the steady income requirement, the income type of the tax extension pension insurance product accumulation period is based on fixed income and bottom income, and the pension annuity is provided in accordance with the way the insured chooses to provide the long-term interest rate. As the insured people enjoy the deferred tax preferential policy given by the state, in order to ensure that the funds are used for the long-term pension, in addition to the retirement age prescribed by the state, as well as the conditions of personal death, full disability or serious disease and other financial and tax policies agreed upon by the insurance contract, the insured persons purchase tax extends the endowment insurance production. Funds accumulated by products are locked in their personal accounts for a long time and cannot be withdrawn in advance. In addition, life-long claim means that the tax extension pension insurance products should provide at least a life-long way of life, that is, when the guarantor reaches the state prescribed retirement age or the age stipulated by the state (not as early as the state prescribed retirement age), the insurance company stipulates a monthly or annual pension according to the insurance contract until his death. At this point, the tax extension pension insurance product and the basic old-age insurance pension payment form is the same, which can form an effective complement to the basic old-age insurance. Source: Beijing News Editor: Gu Ying _NN6577 As the insured people enjoy the deferred tax preferential policy given by the state, in order to ensure that the funds are used for the long-term pension, in addition to the retirement age prescribed by the state, as well as the conditions of personal death, full disability or serious disease and other financial and tax policies agreed upon by the insurance contract, the insured persons purchase tax extends the endowment insurance production. Funds accumulated by products are locked in their personal accounts for a long time and cannot be withdrawn in advance. In addition, life-long claim means that the tax extension pension insurance products should provide at least a life-long way of life, that is, when the guarantor reaches the state prescribed retirement age or the age stipulated by the state (not as early as the state prescribed retirement age), the insurance company stipulates a monthly or annual pension according to the insurance contract until his death. At this point, the tax extension pension insurance product and the basic old-age insurance pension payment form is the same, which can form an effective complement to the basic old-age insurance.