投资连结保险

第十六条保险机构投资者为投资连结保险设立的投资账户，投资股票的比例可以为100%。

The ratio of stock investments of an investment account established by an insurance institutional investor for investment-linked insurance may be100 % .

投资连结保险自产生以来不断发展，目前在欧美国家已经成为寿险的主流险种之一。

The investment-linked insurance has been developing since it was produced . For the moment , it has become one of the mainstream of life insurance coverage in the European and North American countries .

基于期权定价理论的投资连结保险退保行为研究

Study on Equity-linked Life Insurance Surrender Based on Option Pricing Theory

2001年以来，寿险新型产品结构变化也较大，投资连结保险历经了热销及低迷阶段。

But in 2001 , the structure of new-type life insurance products changed heavily .

投资连结保险：法律属性及与现行保险法的冲突

An Investment-based Insurance : Its Legal Property and the Conflicts with the Current Insurance Law of the P.R.C

投资连结保险作为寿险公司的投资型险种，其收益和风险均有投保人承担。

The return of unit-linked insurance is come from the investment account , which is invested in bank deposits , bonds , funds and equities .

投资连结保险作为新型的人身保险产品，有别于传统保险，在法律属性上应将其定位为“保险+信托”。

An investment-based insurance , as a new product of life insurance , differs from traditional insurance and should be located as " insurance plus trust " in legality .

基于投资连结保险的独特性质，我国《保险法》不仅不能完全适用于投资连结保险，而且存在若干冲突情形。

Owing to the unique characteristics of the investment-based insurance , the Insurance Law of the P.R. C can 't apply completely and there 're conflicts in many situations .

投资连结保险以其高度的灵活性，结合专业投资的实力与优势，力求在最大程度上为客户追求长期而稳定的投资收益。

Investment is concatenate and safe the flexibility with its height , combine the actual strength of professional investment and advantage , do one 's best seeks long-term and stable yield for the client on the oldest rate .

投资连结保险的主要投资方向为银行存款、债券及证券投资基金，投资工具的不同投资比例对应着不同的投资账户及不同的风险和收益，收益随着金融市场的波动而变动。

The main invest channel of the unit-linked insurance contains bank deposits , bonds , funds and stocks . The different investment ratio corresponds to different investment accounts . Return of unit-linked insurance is affected by financial market changes .

本文共分六章，分别讨论了基于投资理论的保险定价问题、保险基金的最优投资问题、破产概率问题及随机利率下含退保期权的投资连结保险问题，从而实现了上述研究目标。

This paper include six chapters . In order to achieve above goals , we study premium pricing problem based on investment theory , the optimal investment of insurance funds , ruin probability and a unit-linked life insurance model for embedding a surrender option under stochastic interest rate respectively .

本文先予分析投资型保险之产生缘由、定义和特征，指出我国目前保险市场存在的两种主要投资型保险品种：投资连结保险和万能保险。

Firstly , this thesis indicates that two major Investment-oriented Insurances named Investment-linked Life Insurance and Universal Life Insurance exist in the current insurance market in China , with analyzing the reasons of appearance , definitions and characters of Investment-oriented Insurance .