个人养老金保险格局生变： 分红型产品占比突破40%

Core Insights - The personal pension system is evolving, with a clear product supply structure emerging, where annuity insurance dominates the market with nearly 60% of the offerings [1][2] - Dividend-type insurance products are gaining popularity due to their dual advantages of risk diversification and flexible returns, becoming a mainstream development direction in the market [1][3] - Insurance institutions are actively developing comprehensive solutions that integrate health management and pension services to enhance the overall attractiveness of personal pension products [1][4] Product Distribution - As of November 24, there are 437 personal pension insurance products launched, with 118 currently available for sale [2] - Annuity insurance leads with 69 products, followed by whole life insurance with 37, and dedicated commercial pension insurance with only 12 products [2] Popularity of Dividend-Type Products - In a declining interest rate environment, dividend-type insurance products are increasingly favored by investors, comprising over 40% of the available products [3] - The landscape of annuity insurance has shifted, with dividend-type annuity products now holding a significant market share [3] - Dividend-type products offer a combination of guaranteed and floating benefits, requiring insurance companies to share a substantial portion of operational profits with policyholders [3] Comprehensive Solutions - The personal pension market is experiencing a phenomenon of "hot account openings but cold deposits," indicating a need to activate actual funding willingness [4] - Expanding the personal pension product system is seen as a key solution to this issue, with regulatory changes allowing for the introduction of personal pension savings bonds starting June 2026 [4] - Insurance institutions are encouraged to innovate by integrating services such as health management and community living benefits into pension products, enhancing their appeal through a "service + finance" model [4]