预期寿命较14年前提高4岁，寿险降价、年金险涨价？

Core Insights - The release of the new life table marks a significant update in China's life insurance industry, reflecting a trend towards increased life expectancy and lower mortality rates, which will impact insurance product pricing and risk management [2][3][4] Industry Overview - The new life table, effective from January 1, 2026, shows an average mortality rate decrease of approximately 20% compared to the previous table, with life expectancy for males increasing to 85 years and for females to 89 years [1][3] - The life table is updated approximately every ten years, with the last updates occurring in 2005 and 2016 [3] Product Pricing Implications - The decline in mortality rates is expected to lead to a decrease in prices for risk-based insurance products like term life insurance, while prices for longevity products such as annuities may rise due to increased payout durations [4][5] - The insurance pricing mechanism is influenced by mortality rates, survival rates, and discount rates, with the new life table expected to reduce the "death difference" space for life insurance companies [4][5] Market Reaction - Despite the significant changes, the immediate market response has been cautious, with no notable increase in consultation or sales activity observed [7][8] - Sales strategies are adapting to leverage the upcoming changes, with a focus on promoting products during peak sales periods [7] Long-term Industry Trends - The implementation of the new life table highlights the need for a collaborative approach between health and pension sectors, emphasizing the importance of integrated solutions for long-term risk management [9][10] - The insurance industry is encouraged to innovate and develop products that combine financial services with health management and elder care [10][12] Recommendations for Future Development - Experts suggest that the industry should focus on developing market-based tools for longevity risk management, integrating financial products with health services, and enhancing consumer education regarding annuity pricing mechanisms [15]