The Study Of The Protection Of The Life Insurance Consumer Rights

During the thirty years after the reform and opening up, life insurance in China has witnessed a rapid development due to the increase of residents’ income level and the change of consumption structure. The premium scale of life insurance market in2010ranked the fifth highest in the world and the development achievements are very obvious. With the further development of China’s reform of the economic system and the rapid change of international economic environment, the financial system in China is experiencing a deep and comprehensive reform. The market competition faced by domestic insurance industry is becoming much fiercer and meanwhile there are also many problems existed. The life insurance industry in China has stepped into a bottleneck stage of development and many problems appeared, for example, the growth of premium in life insurance market slows down, the yield rate of insurance capital decreases and the solvency is not sufficient. Life insurance companies face big challenges in product sale, channel management, capital and asset management, so it is worth deep consideration and discussion to solve the difficulties faced by life insurance industry and thus promote its sustainable development. Among these problems, the protection of the life insurance consumer rights is most important. In recent years, consumers and insurance companies, controversies and disputes quickly increased sales misleading claims disputes triggered damaged the interests of consumers to happen frequently, the volume of complaints is rising. These events are not only affecting the sustainable and healthy development of the insurance industry, and also greatly endanger the stability of the society. Life insurance consumers is how to maintain the legitimate rights and interests, the interests of the majority of consumers are most concerned about and most direct, and not only worthy of the regulatory authorities are highly concerned about the community also needs depth.This thesis is mainly comprised of five parts. The first chapter is about consumer protection and its related issues. Some conceptual problems are introduced such as the concept about consumption and consumers, the connotation about consumer rights and the theoretical basis about consumer protection. Then it describes the characteristics of life insurance consumption and the necessity of consumer protection. In the second chapter, mature rights protection mechanisms for life insurance consumers are studied for reference such as the rights protection mechanisms for financial or insurance consumers in the United Kingdom, the United States and Japan.In the third chapter, the situation of rights protection for life insurance consumers is analyzed from two aspects, current situation and cause of the rights infringement for life insurance consumers, and it also emphasizes the immaturity of rights protection mechanisms for life insurance consumers. The fourth chapter offers a proposal about the perfection of rights protection mechanisms for life insurance consumers, which is proposed based on the consideration from law, supervising and management. In the proposal, the establishments of information disclosure mechanism and complaints punishment mechanism are emphasized, as well as the enhancement of consumer education.