Core Viewpoint - The median settlement interest rate for universal life insurance products has decreased to 2.75% in April, with expectations for further declines in the future due to regulatory tightening and lower investment returns [1][2][3]. Settlement Interest Rate Decline - As of April, 748 universal life insurance products reported settlement interest rates, with the highest at 3.5% for 21 products. 41.4% of these products have rates above 3%, while 58.6% are below 3% [2]. - Historical data shows a downward trend in both the median and arithmetic average settlement interest rates compared to previous years [2]. Premium Income Decline - The "new policyholder investment funds" for universal life insurance in Q1 amounted to 260.5 billion, a 7.8% decrease from the previous year [4]. - Factors affecting sales include the decline in guaranteed and actual settlement rates, as well as stricter regulatory policies [4]. - The upcoming regulatory changes will lower the maximum guaranteed interest rate for new universal life insurance products to 1.5% starting October 1, 2024 [4]. Future Outlook - Short-term projections indicate a continued decline in universal life insurance premiums, with no immediate positive factors for growth [5]. - Long-term, universal life insurance will remain a significant product for insurance companies, necessitating structural reforms and improved communication with consumers to ensure sustainable growth [5].

Core Viewpoint - The median settlement interest rate for universal life insurance products has decreased to 2.75% in April, with expectations for further declines in the future due to regulatory tightening and lower investment returns [1][2][3]. Summary by Sections Settlement Interest Rate Decline - As of April, 748 universal life insurance products reported a median settlement interest rate of 2.75%, down from previous periods [1][2]. - The highest settlement interest rate among these products was 3.5%, with 21 products achieving this rate. A total of 57 products had rates above 3.0%, while 433 products fell between 2% and 3% [2]. - Historical data shows that the median and arithmetic average settlement interest rates have been on a downward trend since early 2024 [2]. Premium Income Decline - In the first quarter of this year, the new premium income from universal life insurance was 260.5 billion, representing a 7.8% decrease compared to the same period last year [4]. - Factors contributing to this decline include lower guaranteed rates, stricter regulatory policies, and increased competition from other insurance products [4]. - The upcoming regulatory changes will lower the maximum guaranteed interest rate for new universal life insurance products to 1.5% starting October 1, 2024 [4]. Future Outlook - Experts predict that premium income for universal life insurance may continue to decline in the short term, lacking positive growth factors [5]. - Long-term, universal life insurance is expected to remain a significant product for insurance companies, necessitating structural reforms and improved communication with consumers [5].