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香港分红险演示利率结束7%时代,别慌!演示利率限高≠投资收益限高
Guang Zhou Ri Bao·2025-07-10 16:46

Core Viewpoint - The Hong Kong Insurance Authority has set a cap on the demonstration interest rates for participating insurance policies, limiting HKD policies to 6% and non-HKD policies to 6.5% starting July 1. However, industry experts indicate that this cap does not necessarily limit actual investor returns, as actual yields may still vary based on market conditions and other factors [1][2]. Summary by Sections Regulation Changes - The new regulations aim to provide a more realistic expectation of future returns for customers, as the demonstration interest rates are primarily used for illustrating potential benefits during sales [2]. - The cap on demonstration rates is seen as a measure to bring rationality back to the market amid increasing competition among insurance companies [2]. Impact on Actual Returns - Experts assert that the limitation on demonstration rates does not equate to a limitation on actual returns. If insurance companies can deliver high returns, regulatory bodies would not restrict the dividend levels offered to clients [2]. - A comparison of expected cash values for a specific participating insurance product shows negligible differences in cash value for the first 30-40 years, with a slight decline in later years [3]. Currency and Legal Considerations - The fluctuation of exchange rates poses a significant risk for mainland investors, as many Hong Kong insurance policies are denominated in USD or HKD. This can affect both the cost of premiums and the actual returns when converted back to RMB [4]. - Legal differences between Hong Kong and mainland China may complicate dispute resolution for policyholders, making it challenging for mainland clients to assert their rights in case of disputes [4]. Recommendations for Investors - Investors are advised to consider the stability and solvency of insurance companies, as well as their historical dividend realization rates, to ensure the safety of their funds and maximize policy benefits [5]. - For those with short-term liquidity needs or low risk tolerance regarding currency fluctuations, purchasing Hong Kong insurance may not be advisable. However, it could be a reasonable option for individuals planning to study or live abroad long-term [5].