近日，人身险公司陆续披露万能险产品2025年8月的结算利率。 仍存在下行空间 万能险是人身保险的一种，可以不定期不定额追加保费或者调整保险金额。同时，设立单独保单账户， 经合同约定，可以领取部分或全部保单账户价值，保单账户价值提供最低收益保证，最低保证利率不得 为负。万能险一般不单独销售，而是搭配年金险、终身寿险等主险进行销售。 Wind数据显示，已披露结算利率的近300只万能险产品中，大部分产品结算利率在2.5%—3%区间，个 别产品结算利率达3.5%；部分产品结算利率较前一月有所下调。 结算利率下行 Wind数据显示，截至9月5日，共有近300只万能险产品披露8月结算利率。其中，年结算利率超过3%的 万能险产品共有24只，个别产品的年结算利率最高达到3.5%。 整体来看，大部分万能险产品的年结算利率不超过3%，约85%的产品年结算利率在2.5%—3%区间。 和7月相比，部分万能险产品的结算利率有所下调。比如，北大方正人寿旗下的聚宝盆（如意版）终身 寿险（万能型）产品8月的年结算利率为3.2%，7月为3.3%。 近年来，万能险结算利率一直处于下降趋势。2024年同期，大部分万能险产品的年结算利率在3%及以 ...

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].