越来越多的年轻人发现，存钱是会上瘾的。 他们把钱按不同用途规划分成了活钱、救命钱、投资钱和长期钱，每一份钱都有自己的岗位和任务，绝不轻易转岗或优化。 为了实现"收益最大化"，复利思维下的"利滚利"也悄悄代替了"存定期"——他们在支付宝上买储蓄险，每个月定期存进去百儿千把块的，让本钱长出利 息，时间成为系数，连利息也能开枝散叶。 存款利率持续下行的趋势下，越来越多的年轻人，把有复利优势的储蓄险作为自己资产配置的一部分，用保险来追求财富增值、为自己储备养老筹码。 攒钱之所以会上瘾，不仅在于存款数字的线性增长，当攒钱到一定程度后，复利也会让财富积累更轻松：如果将理财比喻成策略类游戏，本金就相当于经 验值，积累到一定程度后，复利（本金+利息继续滚利息）带来的效应如同解锁了被动技能——经验值（本金）开始自动滚雪球，升级速度越来越快，最 终让人在财富自由的关卡中"躺赢"通关。 为了实现有效存钱的目标，资产配置也就成了年轻人为存钱大计保驾护航的"外挂"，他们将短期的钱放余额宝、长期的钱在支付宝上买储蓄险，这些理财 方式有个共同的特点，都是复利计息，俗称"利滚利"。 作为刚入职场2年的脆皮新人，卢莹莹一度羡慕那些"29岁攒够 ...

中新网北京8月15日电 (记者刘文文)中新社国是直通车15日在北京举办"城心守岁月——共绘中国式养老 新图景"主题沙龙，大家保险集团党委委员、副总经理李欣在出席活动时表示，保险行业是目前中国养 老市场上最重要的力量之一，当前，养老服务正在从"家庭自给"转向"社会化供给"。 李欣说，我国社会正面临着人口老龄化的加速演进和家庭结构深刻变迁的双重叠加挑战，家庭养老"高 需求"和"弱能力"的矛盾日益凸显。 她认为，当前家庭养老呈现三大特征。第一，老年人保持个体独立与渴望代际亲密并存。在当前社会背 景下，老人在日常生活中希望有自己的空间和节奏，同时又希望家庭的关心和陪伴，"同城不同住"日臻 成为城市老人与子女间的主流居住和照顾模式。 因此，李欣认为，养老服务不能仅依靠家庭，需要整合家庭、商业和公共资源，实现跨领域、多层次、 全生命周期的综合供给。如今，越来越多社会力量积极响应应对人口老龄化国家战略，多方协同打造中 国式养老的解决方案。 在国家层面，多个政府部门出台了一系列养老政策，积极应对人口老龄化、发展养老事业，养老金融也 被列入了金融"五篇大文章"之一。 在行业层面，包括医疗健康、金融服务、文旅康养、科技教育等在内 ...

Core Viewpoint - The insurance industry is entering a new phase of "interest rate cuts," with the first move made by Tongfang Global Life Insurance, which has reduced the preset interest rate of its new dividend insurance products from 2% to 1.5% [2][6]. Group 1: Market Trends and Regulatory Changes - The downward trend in interest rates has been significant, with the 10-year government bond yield dropping to 1.64% as of June 23, 2024, which is below the preset interest rate cap for ordinary life insurance products [6][9]. - The Financial Regulatory Bureau has implemented a mechanism to link preset interest rates with market rates, requiring timely adjustments when preset rates exceed a certain threshold [9][5]. - This marks the third reduction in preset interest rates for insurance products in two years, with ordinary life insurance rates decreasing from 4.025% to 2.5% [6][5]. Group 2: Risks and Challenges - The long-term inversion of interest rates poses significant risks for insurance companies, as the declining investment returns pressure the income side while the liability side remains rigid [7][8]. - Companies face challenges in investment decision-making, as investing heavily in long-term bonds may not cover liability costs, while a lack of stable returns could lead to systemic risks [8][11]. Group 3: Product Strategy and Development - Tongfang Global Life has adopted a balanced multi-product strategy, offering both dividend and non-dividend products, as well as savings and pension products to meet diverse customer needs [13][12]. - The company is focusing on risk-sharing products, including dividend and universal insurance, as well as protection products like term life and high-end medical insurance [13][14]. - There is a push for innovation in product offerings, particularly in risk-sharing products, to better align with market demands and mitigate interest rate risks [16][17]. Group 4: Future Outlook - The insurance industry is expected to continue adjusting preset interest rates downward, with predictions of further reductions around August [9]. - The development of new product types, such as index-linked universal insurance and guaranteed investment-linked insurance, is recommended to enhance market acceptance and provide minimum guarantees [17][18].

Investment Rating - The report maintains a "Recommended" rating for the insurance sector, indicating a positive outlook for the industry in the coming months [7]. Core Insights - The insurance industry has shown signs of recovery, with total premium income reaching 30,602 billion yuan from January to May 2025, reflecting a year-on-year increase of 3.8%. The premium income for May alone was 4,647 billion yuan, up 13.2% year-on-year [4]. - Life insurance continues to recover, with premium income of 18,735 billion yuan from January to May 2025, a 3.9% increase year-on-year. The premium income for May was particularly strong at 2,674 billion yuan, marking a 24.1% increase year-on-year [4]. - The health insurance sector experienced a slight decline in premium income, totaling 3,879 billion yuan from January to May 2025, a 0.9% increase year-on-year, with May showing a decrease of 6.3% [5]. - The property insurance sector saw premium income of 7,805 billion yuan from January to May 2025, a 5.2% increase year-on-year, with May's income at 1,319 billion yuan, up 5.3% [4]. - The report highlights the potential for life insurance products, particularly participating insurance, to gain market share due to their dual benefits of protection and investment returns, especially in a low-interest-rate environment [4][9]. - The automotive insurance segment benefited from increased vehicle sales, with premium income reaching 3,720 billion yuan, a 4.4% increase year-on-year, while non-auto insurance premiums were 4,085 billion yuan, up 6.0% [8]. Summary by Sections Life Insurance - Life insurance premium income from January to May 2025 was 18,735 billion yuan, up 3.9% year-on-year, with a significant increase in May of 24.1% [4]. - The demand for life insurance products is expected to recover due to the declining bank deposit rates, enhancing the attractiveness of long-term insurance products [4]. Health Insurance - Health insurance premium income was 3,879 billion yuan from January to May 2025, reflecting a modest growth of 0.9% year-on-year, with a notable decline in May [5]. - The report suggests that the health insurance sector is undergoing a transformation, with potential for growth in mid-to-high-end medical insurance products [5]. Property Insurance - Property insurance premium income reached 7,805 billion yuan from January to May 2025, a 5.2% increase year-on-year, with steady growth in both auto and non-auto segments [4][8]. - The report anticipates a continued focus on professionalization and refinement in the property insurance sector, particularly among leading companies [9]. Investment Opportunities - The report suggests that the insurance sector is poised for growth, with a focus on improving product structures and increasing the share of participating insurance products [9]. - The macroeconomic recovery is expected to support long-term interest rates, which could positively impact the insurance sector's performance [9].

Group 1 - The core viewpoint emphasizes the shift in insurance from "post-loss compensation" to "lifecycle risk management," focusing on risk prevention and health management to reduce uncertainty in future expenditures [1] - Insurance companies are collaborating with medical institutions and health management firms to create a "prevention-diagnosis-rehabilitation" closed loop, which helps consumers lower expected medical expenses and redirect savings towards education and tourism consumption [1] - From a retirement planning perspective, insurance companies are developing a "guarantee-industry-consumption" ecosystem through building retirement communities and collaborating with elderly care institutions, enhancing related industries such as healthcare and tourism [1] Group 2 - National policies are providing significant support to consumers, such as urban inclusive insurance products and personal pension plans, which alleviate potential expenditure pressures and enhance current consumption capabilities [2]

对此，有业内人士认为，短期来看，利率下行将在客观上利好储蓄型保险产品的销售，但实际上，储蓄 型保险并不能代替银行存款。同时，存款利率下调进一步压缩了固定收益类资产的收益率空间，使得险 资资产配置难度上升。从长期来看，险企或将逐步降低新单产品的预定利率，与市场利率走势相适应， 缓解未来利差损压力。 5月20日，六大国有行年内首次调降存款利率，一年期存款利率跌破1%。这一消息在朋友圈快速刷屏， 不少保险从业者纷纷转发并解读称"转存是最好的选择"。 保险销售：朋友圈刷屏"转存最优" 行业观察：险企如何优化投资与产品策略？ "转存是最好的选择。""保险产品的更替还有一定的时间延迟（目前预定利率2.5%），大家抓紧。很多 时候，选择比努力更重要。"5月20日，记者在微信朋友圈看到，不少保险销售人员转发"存款利率下 调"的消息，并借机推介储蓄型保险，强调其长期收益优势。 记者梳理发现，此次工商银行、农业银行、中国银行、建设银行等4家大行存款挂牌利率调整后，活期 存款利率为0.05%；3个月、6个月、1年期、2年期定期存款利率（整存整取）分别为0.65%、0.85%、 0.95%、1.05%；3年期、5年期定期存款利率（整 ...

Core Viewpoint - The personal marketing system reform in the life insurance industry has become a focal point, driven by the recent notice from the National Financial Regulatory Administration, indicating a significant transformation in the industry [1][2]. Group 1: Industry Changes - The traditional individual insurance marketing model is no longer suitable for today's Chinese life insurance market, which is transitioning from acquiring new customers to deepening engagement with existing customers [1][2]. - The individual insurance channel, once a backbone of growth, is facing unprecedented challenges due to economic cycles, structural issues, and tightening regulations [1][2]. - The shift from a quantity-focused approach to a quality-focused approach is evident, with regulatory changes emphasizing the need for professionalization and compliance in the insurance sales process [2][3]. Group 2: Product and Sales Dynamics - The decline in the guaranteed interest rate for traditional life insurance products has diminished their attractiveness, leading to a shift towards more complex products like annuities and dividend policies, which are harder to sell [3][4]. - The introduction of the "reporting and operation integration" mechanism aims to align product pricing assumptions with actual costs, reducing short-term arbitrage opportunities and increasing compliance requirements for sales agents [3][4]. - The insurance sales landscape is evolving from merely selling policies to providing comprehensive solutions that cover the entire lifecycle of clients, necessitating a more professional sales force [4][5]. Group 3: Marketing Model Transformation - The regulatory notice calls for a transformation of insurance sales personnel from traditional sales roles to professional insurance consultants, focusing on long-term client relationships and needs [5][6]. - Leading companies like China Life and Taikang Life are actively promoting initiatives to cultivate high-performing, professional agents capable of wealth management and risk assessment [5][6]. - Taikang's HWP model integrates insurance consulting, medical care, and financial planning, addressing the needs of high-net-worth clients and moving away from traditional sales methods [6][7]. Group 4: Channel Competition and Growth - The reform of the individual insurance channel is reshaping the competitive landscape, with banks and intermediaries also undergoing regulatory changes [8][9]. - The bank insurance channel is experiencing rapid growth, with significant increases in premium income, indicating a shift towards a more sustainable and value-driven approach [9][10]. - Smaller insurance companies and intermediaries are expected to gain market share as they leverage their competitive advantages in providing personalized and differentiated services [10][11]. Group 5: Future Outlook - The ongoing reform in the individual insurance marketing system is expected to optimize the industry ecosystem in the long term, despite short-term challenges [11][12]. - Companies that successfully implement professionalization and provide high-quality services are likely to emerge as winners in the evolving market landscape [11][12].