Why are many people unwilling to pay endowment insurance now?

Reasons for unwilling to pay endowment insurance:

1) 8% of personal pre-tax deduction goes into personal account for compulsory savings (except for special circumstances such as retirement, death and immigration), and about 20% paid by other enterprises (different from place to place) is taken away as a whole and does not go into personal account;

2) According to a researcher of Tsinghua Research Institute who recently asked to extend the pension to 65 years old, the average life expectancy in China is 75 years old, and people begin to receive it at 60 years old, which means that everyone receives 15 years. The prerequisite for receiving old-age insurance is to pay at least 15 years, and many people actually pay for more than 30 years.

3) There are many uncertainties in the calculation formula of how much pension can be received in the future, the life span of recipients, and the depreciation of inflation currency during the period.

4) Different from commercial insurance, the coverage, premium and user terms of endowment insurance are all adjusted by the relevant state departments at any time. In addition to the annual "statistical" increase in the average social wage and the extension to the age of 65 to receive pensions, there is still room and possibility for the country to further adjust its pension insurance policy in the future, so there are too many uncertainties.

5) The negative effects of empty accounts of endowment insurance and Ponzi scheme.

So many people are unwilling to pay endowment insurance.