Core Insights - The China Insurance Industry Association has announced a new standard for the guaranteed interest rate for ordinary life insurance products at 1.99%, leading to a mandatory adjustment of new product rates by insurance companies [1] - Several life insurance companies will reduce the guaranteed interest rates for their products starting September 1, with ordinary life insurance rates dropping from 2.5% to 2.0%, participating insurance rates from 2.0% to 1.75%, and universal insurance rates from 1.5% to 1% [1] - A significant number of insurance products are being discontinued, with many expected to be taken off the market by August 31, including critical illness insurance, disability insurance, accident insurance, term life insurance, increasing whole life insurance, annuities, and participating insurance [1] Group 1 - The adjustment in guaranteed interest rates directly impacts insurance pricing and policy benefits, typically resulting in higher product prices or lower returns for consumers [1] - Waterdrop Insurance Brokerage is actively communicating with insurance companies to adjust product strategies and ensure a smooth transition between old and new products, while also preparing for the launch of new products [2] - Waterdrop has developed a special service plan to provide clear and timely consultation for users regarding discontinued products and insurance inquiries, ensuring user rights and enhancing service experience [2] Group 2 - Waterdrop is focused on enriching user protection service experiences by establishing a membership system with four categories and ten levels, offering a variety of member benefits [2] - The company has curated three major service resources, totaling over 30 benefits, covering health management services, expedited medical services, and high-end customized services to meet diverse customer needs [2] - Industry experts advise consumers to consider their actual needs, willingness to insure, family protection requirements, and economic situation when contemplating insurance purchases [2]

Group 1 - The insurance market is experiencing a significant number of life insurance products being discontinued, with some products ceasing sales as of August 31 and others being pulled from the market immediately after announcements [1] - This trend is linked to the upcoming third reduction in the annual interest rate for life insurance products, effective September 1, which has prompted companies to halt sales of older products in anticipation of new offerings [1] Group 2 - Life insurance encompasses various types, including life insurance, health insurance, accident insurance, and annuity insurance, which are popular among consumers [2] - Life insurance products include term life, whole life, and endowment insurance, while health insurance covers critical illness, medical expenses, disability, and long-term care [2] Group 3 - The predetermined interest rate for life insurance products has been on a downward trend, with the current research value at 1.99%, a decrease of 14 basis points from previous values of 2.34% and 2.13% earlier this year [3] - This marks the third consecutive reduction in the predetermined interest rate for life insurance in 2023, totaling a decline of over 50 basis points from last year's final quarter rate of 2.50%, a historically significant drop [3] Group 4 - The decline in the predetermined interest rate significantly impacts the long-term returns for policyholders, as it serves as the internal return target for insurance companies when pricing long-term policies [4] - The reduction is primarily due to falling yields in the bond market, which affects the investment returns available to insurance companies [4] Group 5 - Major life insurance companies, including China Life and Taikang Life, have announced adjustments to the maximum predetermined interest rates for new insurance products, with expectations of a new maximum of 2.0% for ordinary insurance products and 1.75% for participating insurance products [7] - The predetermined interest rate is a theoretical reference value and does not equate to the actual returns received by investors, as various costs such as commissions and management fees will reduce the final yield [7] - Some companies may introduce new products with features that combine guaranteed and floating returns, which could potentially create new market hits [7]

Group 1 - The core viewpoint of the article is that Ping An Life has decided to lower the maximum guaranteed interest rates for various types of insurance products, reflecting a broader trend in the insurance industry [1] Group 2 - The China Insurance Industry Association has announced that the current research value for the guaranteed interest rate of ordinary life insurance products is 1.99%, which is a decrease of 14 basis points from the previous value [1] - Ping An Life has adjusted the maximum guaranteed interest rates for its new insurance products, with ordinary life insurance products set at 2.0%, participating insurance products at 1.75%, and universal insurance products at a maximum guaranteed rate of 1.0% [1] - The adjustments represent a reduction of 50 basis points for ordinary life insurance products, 25 basis points for participating insurance products, and 50 basis points for universal insurance products [1] - Starting from August 31, 2025, Ping An Life will no longer accept applications for insurance products with guaranteed interest rates exceeding the newly set maximum values [1]