Back to Traditional Insurance

Back to Traditional Insurance

Back to basic is a strategy is always used by insurance company in stead of exist in global finance crisis. Global finance crisis is end of weakness of world economic and make company to distant for while from stock market. Investment product is
related by stock market like unit link, is not anymore good product. Unit link is modern insurance. This product is primary investment than protection. Even we can choice kind of investment, such link fixed income. Investment link is almost same with mutual fund.

Falling off stock exchange at the economic crisis also drop off investment value in insurance link. The consequence, people keep away from insurance link product. In order to insurance company can survive, insurance link shifted to protection product. That strategy is called back to basic. That strategy is appropriate with basic of insurance company. At beginning, insurance company accepting or protecting risk from society. Life insurance used to risk transfer for cause of death. Retired people can buy annuity for risk transfer cause of life is too long. Society can protect their property with buy general insurance for loss risk, damage risk or fire risk to their property.

Economic crisis changing focus selling from modern insurance to traditional insurance, such term life, whole life, health insurance, personal accident and general insurance. Insurance product with protection become prime attention at economic crisis.

We hope term of back to basic always remain in order to society aware of insurance.