保險(xiǎn)類外文翻譯人壽保險(xiǎn)是否有利于退休金計(jì)劃

1、is life insurance good for retirement planning?at first glance, the life insurance industry appears to be in trouble as it faces the millennium. as the large baby boomer market ages, these consumers have shifted their financial focus away from life insurance and towards assuring their future comfort

2、.although the industry has long recognized that its future lies in more in financial products than in life insurance, it has lately been losing its share of the retirement market.between 1992 and 1994 alone, insurers share of 401(k) plans slipped from 34% to 30%,while mutual funds share leaped from

3、26% to 37%. tax-deferred annuities sold by insurance companies fell in share of americans total retirement assets to 16.61% in 1996 from its peak in 1990 of 22.56%. in individual retirement accounts, while banks market share fell dramatically from 61% in 1985 to 18.4% in 1996, insurance companies sa

4、w mutual funds and brokerage houses gain the fattest slices of the banks loss.such developments can, however, be misleading. two experts who believe that the life insurance industrys picture is far brighter than it first appears are paul hoffman and anthony m. santomero of the wharton schools financ

5、ial institutions center. their paper, life insurance firms in the retirement market: is the news all bad? answers their own titular question with a decided no. hoffman and santomero point to a number of facts that, while not completely reassuring to the industry, definitely show some profitable oppo

6、rtunities. a revised version of this paper appeared in the journal of the american society of clu and chfc.first of all, retirement planning is a huge and growing market. contrary to reports that have appeared in the past, baby boomers are saving more rapidly than their parents. and, face it, they h

7、ave to: the decline of defined benefit plans, which americans once counted on so heavily for their golden years, demands that they look to other financial instruments to protect their futures. that opens up new sales opportunities for group and individual retirement plans sold by financial companies

8、, including insurers. and annuities, which are insurers biggest retirement-oriented product, are growing in importance as a share of americans wealth. moreover, annuities have remained stable as a percentage of retirement assets.second, while mutual funds and brokerage houses have been expanding the

9、ir market share, their inroads have been mostly at the expense of depository institutions, not life insurance companies.third, the retirement market is a growing financial feast, even if insurers do have to compete a little harder for their share of the bounty. by the end of 1996, total private reti

10、rement assets in the u.s. stood at almost $5.1 trillion, having increased as a share of total national wealth from 10.6% in 1983 to 13.6%.there has also been a decided shift in the nature of the nations retirement assets. in 1980, total defined benefit assets in the u.s. were 2.5 times defined contr

11、ibution assets (mostly, 401(k) plans). by 1993, the latest date for which figures are available, total funds of both types of plans were almost equal. from 1984 to 1993, total u.s. 401(k) assets alone grew from about $92 billion to $616 billion, increasing from 0.74% of americans total wealth to 2.1

12、8%. as a share of total retirement capital, 401(k)s rose from about 7% in1984 to 16.6% in 1993, according to the u.s. department of labor.individual retirement accounts, although no longer as attractive as a saving vehicle due to the loss of most tax advantages in 1986, still capture a huge amount o

13、f total retirement assets. by the end of 1996, savings in iras had swollen to $1.35 trillion, representing around 3% of u.s. wealth. most of the growth was from gains in the equity market rather than in new contributions. meanwhile, mutual funds and brokerage firms picked up more than 43% of the dep

14、ository institutions drop in ira market share, increasing their own share from 15.8% to 37.9% for mutual funds and 14.7% to 35.8% in the case of brokerages. insurers share of the ira market actually fell from 10.4% in 1990 to 7.8% in 1996.the annuity market represent insurers best hopes to retain a

15、significant share of the retirement market. in 1993, annuities represented almost 20% of the market, following iras 23.4%. insurance companies share of this huge financial stash stood at almost 76% in 1993, equal to more than $1 trillion, of which about $734 billion was earmarked for retirement. (th

16、ese figures only include tax-advantaged annuities).life insurance carriers, then, are likely to retain significant sales and profit growth in the retirement market. still, the industry needs to find new ways to grow. its recent binge of mergers and acquisitions has improved cost efficiency and dimin

17、ished competition among carriers, but is scarcely enough to offset inroads by brokers and mutual funds. even banks have declared their intentions to market competitive new instruments in the annuities market. a disturbing development for insurance companies is their lossof share of revenue, from 55%

18、 of sales fees for variable annuities in 1994 to only 43% the next year. the wall street journal has predicted that insurers share of these fees could fall to 30% by the year 2000.with these developments in mind, strategy for life insurance firms in the decade ahead need to aim at stopping their ski

19、d out of the retirement market, where they have fallen from a 22.7% market share in 1983 to 18% in 1996. elements of a successful strategy might include:1. retain dominance in annuities by increasing cost efficiency in delivery and holding down fees, to maintain competitiveness with other financial

20、services.2. slow down loss of market share for ira accounts. while this market has diminished in terms of new contributions, financial returns on existing ira assets have grown to 12% of insurance company pension assets as of 1996, from 3.3% in 1983.3. jump with both feet into the exploding 401(k) m

21、arket, with particular emphasis on pursuing the fat market for rollover accounts.for the life insurance industry, the stakes are clear. while its decline in competitiveness is not as serious as widely proclaimed, its share of the retirement market has been falling by more than 1% a year in recentyea

22、rs. because its income from annuities has surpassed its income from life insurance since 1985, clearly it must continue to pursue the retirement segment. now, however, it also needs to look to ways of solidifying and perhaps expanding its share of the 401(k) and ira niches. insurers strength is that

23、 they can leverage a wide spectrum of products to help them to protect their presence in the retirement marketplace. for example, they can offer one-stop shopping for a combination of retirement income, long-term care coverage and estate protection. by offering consumers products that blend traditio

24、nal risk protection with asset management, insurers may be able to protect their own future.人壽保險(xiǎn)是否有利于退休金計(jì)劃乍看之下，壽險(xiǎn)業(yè)出現(xiàn)了已面臨了千年的麻煩。隨著嬰兒潮時(shí)代的到來，這些消費(fèi)者已經(jīng)將財(cái)務(wù)重點(diǎn)遠(yuǎn)離壽險(xiǎn)而轉(zhuǎn)向?yàn)楸Ｕ衔磥砩畹氖孢m。雖然業(yè)界早已認(rèn)識(shí)到，它的未來在于金融產(chǎn)品超過壽險(xiǎn)，它近期已逐漸失去其退休市場(chǎng)份額。僅在1992年到1994年間，保險(xiǎn)公司的份額401（k）計(jì)劃從34%下滑到30%，而共同基金的份額從26%躍升至37%。保險(xiǎn)公司的銷售稅遞延年金占美國人退休資產(chǎn)總額的比例從在1990

25、年峰值的22.56%下跌到16.61%。在個(gè)人退休賬戶中，銀行在1996年的市場(chǎng)份額從1985年的61%急劇下降到18.4%，保險(xiǎn)公司看到共同基金和券商獲得了銀行損失中最大的那部分。然而，這種發(fā)展是誤導(dǎo)。兩位專家認(rèn)為，壽險(xiǎn)業(yè)的圖品遠(yuǎn)遠(yuǎn)閃亮于它們首次出現(xiàn)是保羅霍夫曼和安東尼m.桑托默羅沃頓商學(xué)院的金融中心。它們的論文，“在退休金市場(chǎng)的保險(xiǎn)業(yè)：完全是壞消息？”回答它們自己定義的問題的結(jié)論是“否”hoffman 和圣多馬羅指出了很多事實(shí)，并不是所有好的行業(yè)都一定會(huì)表現(xiàn)出一定的盈利機(jī)會(huì)。本文的修訂版中出現(xiàn)的美國社會(huì)clu和chfc的雜志。首先，退休金計(jì)劃是一個(gè)巨大的不斷增長(zhǎng)的市場(chǎng)。然而恰恰相反，報(bào)告顯

26、示嬰兒潮一代的儲(chǔ)蓄比它們的父母更多。面對(duì)這種情況，它們不得不下降界定福利計(jì)劃，鑒于美國人曾經(jīng)嚴(yán)重負(fù)擔(dān)于他們的黃金時(shí)期，現(xiàn)在要求它們尋求其他的金融工具，以保護(hù)它們的未來。這開辟了金融公司，包括保險(xiǎn)公司銷售團(tuán)體和個(gè)人退休計(jì)劃的新的銷售機(jī)會(huì)。還有年金是保險(xiǎn)公司最大的以退休為導(dǎo)向的產(chǎn)品，作為美國人的財(cái)富份額越來越重要。此外，年金一直保持穩(wěn)定的退休資產(chǎn)比例。第二，而互惠基金及經(jīng)紀(jì)行已擴(kuò)大自己的市場(chǎng)份額，其進(jìn)軍已大多在存款機(jī)構(gòu)，非壽險(xiǎn)公司的費(fèi)用。第三，即使保險(xiǎn)公司爭(zhēng)奪賞金的份額有點(diǎn)困難，退休市場(chǎng)仍然是一個(gè)不斷增長(zhǎng)的金融盛宴。到1996年底，在美國的私人退休總資產(chǎn)為幾乎達(dá)到5.1萬億美元后，作為國家總財(cái)富的

27、份額從1983年的10.6增加至13.6。同時(shí)也出現(xiàn)了國家的退休資產(chǎn)的性質(zhì)的決定性轉(zhuǎn)變。在1980年，美國的利益總資產(chǎn)被定義為界定公款資產(chǎn)的2.5倍（主要是401（k）計(jì)劃）。這兩種類型的計(jì)劃資金總額從1993年的最新數(shù)字開始就幾乎相等。從1984年到1993年，占美國401（k）資產(chǎn)僅增長(zhǎng)約為920億美元至616億美元，美國人的財(cái)富總額從0.74提高到2.18。在1993年，作為總退休資產(chǎn)的一部分，401（k）退休資本總額的比重，從1984年的約7上升至16.6，根據(jù)美國勞工部。個(gè)人退休賬戶，雖然不再有像1986年那樣節(jié)省車輛開支來降低大量的稅收優(yōu)惠的吸引力。仍然捕捉到數(shù)額巨大的退休資產(chǎn)總額。到1996年底，退休帳戶儲(chǔ)蓄已經(jīng)腫升至1.35萬億美元，占約3的美國財(cái)富。大部分的增長(zhǎng)是在股市的收益，而不是在新的貢獻(xiàn)。同時(shí)，共同基金和券商拿起超過43的存款使機(jī)構(gòu)在愛爾蘭共和軍的市場(chǎng)份額下降，并增加自己的份額從15.8到37.9的