近六成产品不足3%，万能险结算利率已降无可降？

Core Viewpoint - The article discusses the recent trends in the settlement interest rates of universal insurance products, highlighting a significant decline in rates and the impact of regulatory changes on the industry [1][3][5]. Group 1: Universal Insurance Product Overview - Universal insurance combines protection and investment functions, allowing flexible premium payments and adjustable coverage levels [3]. - As of May 22, 653 universal insurance products reported their April settlement rates, with the highest at 3.5% and the lowest at 0.36% [1][3]. - 41% of the products have settlement rates of 3% or higher, while 59% are below 3% [3]. Group 2: Regulatory Impact - Recent regulatory actions aim to standardize the design and marketing of universal insurance products, emphasizing better management of assets and liabilities [1][4]. - The Financial Regulatory Authority has prohibited the development of universal insurance products with terms shorter than five years and allowed adjustments to minimum guaranteed interest rates [7]. - The minimum guaranteed interest rate has been reduced from 3.5% in 2017 to a maximum of 2% starting August 1, 2023, and further down to 1.5% from October 1, 2024 [5][7]. Group 3: Market Trends and Consumer Behavior - The decline in settlement rates is attributed to lower yields on fixed-income assets and pressures on investment returns, which directly affect the rates offered by insurance companies [4][5]. - Many existing policies have minimum guaranteed rates set at 2.5% or 3%, limiting the potential for further reductions despite market conditions [6]. - Despite the expected decline in settlement rates, universal insurance products may still offer higher returns than some bank deposit rates, maintaining their appeal to low-risk investors [7][8].