Research On Reasonable Implementation And Legal Regulation Of Investment Function Of Insurance Product

Insurance product has developed investment function from traditionalsupportive function with the innovation and growth of insurance industry. Over morethan a decade of development, investment type insurance products have formed aconsiderable scale in the insurance market. Apart from some typical investment typeinsurance products, such as Investment-linked Life Insurance, Participating LifeInsurance and Universal Life Insurance which are familiar with us, the investmentfunction of insurance products has also been applied and popularized in non-lifeinsurance products based on Family Property Insurance. Investment type insuranceproducts enrich the composition of insurance market, accelerate the innovation andvitality of insurance industry, aggravate the integration of insurance business andcapital market, reduce the risks of interest rate loss concerning insurance, and furtherintensify the internationalization of domestic insurance. However, against thisbackground that financial market, legal environment and supervisory system of Chinaurgently demand perfection, the operation of such investment insurance products hasbeen confronted with new challenges and controversies. For instance, the relationshipbetween the investment function and supportive function of insurance products, theexploitation and supervision of investment type insurance products, the allocation ofrisk, the balance of asymmetric information, the honesty and credit management, thepolicy-holder’s protection of rights and interests, the reinforcement of the riskmanagement, and the operation of funds of an insurance company, etc. Among theseissues, some exist both in traditional and investment type insurance products, othersare brand new as a result of investment function.This thesis seeks and generalizes the topic of the investment function ofinsurance products, with insurance product and its classification as theory’s start point.Then through focusing foregoing issues of investment type insurance products, itreviews and analyzes stratifiedly from internal microscopic aspect and external macroscopic aspect, and dwells upon the reasonable implementation of investmenttype insurance products from private law and public law respectively. Ultimately itresearches on legal regulation by means of analyzing and summarizing China’scurrent facts, and drawing lessons from overseas developed nations and regions, in thehope of forming a system construction and developing direction that fully exert theinnovation and vitality of investment function with supportive function as nature andpremise insistently, and simultaneously embody the value of justice and efficiency.