A Study On The Varible Annuity Of Discretionary Investment-Oriented Insurance Products

• Main Authors: Jui-chiang Lin, 林瑞強
• Other Authors: Chin-Ming Chen
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/22798051790328262113

碩士 === 國立高雄第一科技大學 === 金融研究所 === 100 === After the financial tsunami in 2008, the investment market volatility has not become diminished; later on, the European debt crisis, the China austerity policy to curb inflation, and the U.S. Quantitative Easing etc… all cause the fluctuation of the market. Under such uncertain and risk investment condition, the investment-linked policyholders must timely convert the fund for avoiding badness and stay in the favorable side. Therefore the life insurance industry seized the opportunity to link discretionary investment services (Discretionary Accounts) for investment-linked policy. In other words, policyholders may authorize security investment trust and consulting company to transfer funds in accordance with each different life stage of policyholders. This solves the problem that policyholders seldom have capability to select or to transfer on time as the funds are increasingly diversified day by day. And in discretionary investment business, volatility is more prior than return. Since the policyholder who chose discretionary investment services are more conservative for that they are not familiar with investment, but need the solid retiring plan. So the discretionary investment business is likely equal to the pension fund operation, which positive and stable return in the long run is the core strategy should be taken as the right policy chosen. The investment-linked policy is worth hundreds of billions dollars sales amount. Now, the discretionary investment business is operated by the security investment trust and consulting company and how to choose the right trader to ensure positive and stable fund growing is also an important issue.