万能险新规发布 规范发展防范风险

Core Viewpoint - The National Financial Supervision Administration has issued a notification to strengthen the regulation of universal life insurance products, allowing insurance companies to adjust the minimum guaranteed interest rate under certain conditions to effectively prevent interest rate risk [1][2]. Group 1: Regulatory Changes - The notification prohibits insurance companies from developing universal life insurance policies with a term of less than five years, encouraging the design of products that extend the actual policy duration through reasonable adjustments to surrender fees and policy continuity rewards [2]. - Insurance companies are required to determine the settlement interest rate for universal life insurance based on the actual investment situation of the accounts, and to strictly regulate the use of special reserves [2]. Group 2: Risk Management - The notification emphasizes the need for stricter regulation of fund utilization, including setting upper limits on the use of funds for universal life insurance, enhancing concentration regulation, and regulating non-standard investments [2]. - It also highlights the prohibition of improper related-party transactions through multi-layered nesting and channel business [2]. Group 3: Transition Period - A one-year transition period is provided for existing business that does not comply with the new requirements, ensuring a stable operation of the life insurance market [2]. - During the transition period, any new products approved or filed must comply with the new regulations to prevent incremental risks [2].