● 本报记者 陈露 "最近几天我一直在忙着拜访客户，处理客户咨询、投保等事宜。今天上午我约了客户，给他们讲解保 险产品，下午还要为几位客户办理投保。"保险经纪人李先生8月26日告诉中国证券报记者。 与李先生情况类似，近期不少保险销售人员都处于忙碌状态。根据人身险产品预定利率与市场利率挂钩 及动态调整机制，9月起，人身险产品预定利率将下调。利用预定利率下调前的窗口期，不少保险代理 人开足马力冲业绩。 记者调研了解到，当前各家险企加快新老产品切换。业内人士表示，预定利率下调或影响保险产品价 格。消费者应根据自身风险承受能力、财务规划和保障需求等，合理购买保险产品。 产品切换进行时 "保险产品预定利率下调倒计时""目前的保险产品收益率较高，现在投保能终身锁定这一利率水平，是 一个不错的配置窗口期"……近日，不少保险销售人员在微信朋友圈等社交平台发布人身险产品预定利 率即将下调的信息。 根据人身险产品预定利率与市场利率挂钩及动态调整机制，9月起，人身险产品预定利率将下调。当前 距离预定利率下调还剩不到一周时间，记者调研了解到，不少险企正在进行新老产品切换，不同险企的 老产品停售节奏略有不同。 李先生告诉记者，部分险企 ...

9月起，人身险产品预定利率将下调。当前，距离预定利率下调还剩不到一周时间，记者了解到，不少 险企正在陆续进行产品切换，不同险企的老产品停售节奏略有不同。 李先生告诉记者，此前已有险企在7月末和8月中上旬停售现有保险产品，也有一些险企选择在8月31 日"卡点"停售产品，包括养老年金险、增额终身寿险、两全险、重疾险、护理险等。 在停售现有保险产品的同时，险企也在陆续推出新的保险产品。比如，复星联合健康近期推出预定利率 为2.0%的增额终身寿险产品，中意人寿、信泰人寿、华泰人寿等推出保底利率为1.75%的分红险产品 等。 "最近几天我一直在忙着拜访客户、处理客户咨询、投保等事宜，上午约了客户讲解保险，下午还要为 几位客户办理投保。"8月26日，某保险经纪人李先生向中国证券报记者表示。 和李先生类似，近期不少保险销售人员都处于忙碌状态。根据人身险产品预定利率与市场利率挂钩及动 态调整机制，9月起，人身险产品预定利率即将下调。 记者调研了解到，当前各家险企加快产品切换，有产品已陆续停售，也有部分险企选择在8月31日停售 老产品。在停售老产品的同时，部分险企已推出新产品。业内人士表示，预定利率下调或将影响保险产 品价格， ...

Core Insights - The article highlights a significant shift among younger generations, particularly those born in the 1990s and 2000s, towards planning for retirement, with an increasing number of individuals starting to save for retirement at a younger age [2][3][5] - The concept of retirement planning is becoming a new consensus among young professionals, with many considering it essential to their future financial security [2][5] Retirement Planning Timing - The age range of 35-40 is identified as a critical turning point for retirement planning, where individuals should start prioritizing their savings for retirement [5][10] - A survey indicates that 60.3% of respondents believe the ideal age to start retirement planning is between 31-45 years old, with a notable increase in those under 29 advocating for planning before age 35 [4][5] Financial Strategies for Retirement - Young professionals are increasingly adopting systematic savings strategies, such as monthly contributions to personal pension accounts and commercial retirement insurance [4][10] - The article emphasizes the importance of starting retirement planning early, as time can significantly enhance the benefits of compound interest, potentially doubling the value of savings over time [10][11] Cost of Retirement - In Beijing, the average monthly cost of living in retirement facilities is reported to be 6,611 yuan, leading to an annual expenditure of nearly 80,000 yuan [7][8] - To maintain a comfortable retirement lifestyle, individuals may need over 1.7 million yuan solely for living expenses, excluding additional costs for healthcare and leisure activities [8] Pension System Overview - China's pension system consists of three pillars: government-led basic pension insurance, employer-led supplementary pension insurance, and individual-led savings and commercial pension insurance [9] - The personal pension system allows individuals to voluntarily save in designated accounts, with a current annual contribution limit of 12,000 yuan, providing tax benefits [9] Product Diversity in Retirement Planning - The market for personal pension products is expanding, with a total of 998 specialized products available, including savings, funds, and insurance options [13] - Commercial pension insurance is gaining popularity due to its dual function of providing both protection and retirement savings, with many products offering competitive interest rates [13][14] Engaging Younger Generations - There is a growing awareness among younger individuals regarding the importance of retirement planning, prompting financial institutions to develop products tailored to their needs [15] - The article suggests that financial institutions must adapt to the preferences of younger clients to effectively engage them in long-term retirement planning [15]

Core Viewpoint - The dividend insurance market is undergoing significant transformation as it becomes mainstream, with over half of the products achieving or exceeding a 100% cash dividend realization rate for 2024, contrasting sharply with the previous year's performance [1][2]. Group 1: Dividend Realization Rates - Major insurance companies like Xinhua Life and Heng'an Standard Life have reported that more than half of their products for 2024 have achieved or surpassed a 100% cash dividend realization rate, with Heng'an Standard's pension annuity product reaching as high as 306% [1][2]. - The cash dividend realization rates for various products from companies such as Ruida Life have also exceeded 100%, with some products achieving rates as high as 150% [2]. - In contrast, the previous year saw a drastic decline in realization rates, with some products dropping to as low as 10% or even 0% [2]. Group 2: Regulatory Changes - The regulatory body has implemented strict measures, including a "limit high order," which caps the dividend realization rates for large and small insurance companies at 3.0% and 3.2%, respectively, compressing actual customer returns [3][4]. - The introduction of these regulations aims to prevent companies from offering unrealistic dividends that do not align with their actual investment capabilities, thereby avoiding "involution" in the market [4][5]. - The recent regulatory opinions require companies to prudently determine annual dividend levels based on actual investment returns and risk ratings, allowing for some flexibility while imposing strict conditions on certain scenarios [5][6]. Group 3: Market Dynamics and Future Outlook - The shift towards dividend insurance is becoming a consensus in the industry, with major players like China Life and Ping An predicting that dividend insurance will dominate the market [4][6]. - The anticipated reduction in preset interest rates is expected to further enhance the attractiveness of dividend insurance products, as traditional life insurance products may lose appeal [4]. - The essence of dividend insurance remains the sharing of profits between the insurance company and customers, with the primary motivation being the provision of insurance protection, while dividends serve as an additional benefit [6].

Core Viewpoint - The article discusses various financial products suitable for retirement planning, emphasizing the importance of understanding the three pillars of retirement: basic pension insurance, enterprise annuities, and personal pensions. It highlights four main financial products for retirement planning: pension funds, high-dividend funds, regular cash flow combinations, and pension annuities [2][5][8][88]. Group 1: Three Pillars of Retirement - The first pillar is basic pension insurance, commonly known as social security pensions, which helps meet basic needs after retirement [5]. - The second pillar is enterprise annuities, which are not widely adopted in China and are mainly found in economically developed regions and certain industries [6][7]. - The third pillar consists of personal pensions, where individuals invest their own money to prepare for retirement, significantly impacting the disparity in retirement benefits [8]. Group 2: Financial Products for Retirement Planning - The first product is pension funds, which can be invested through personal pension accounts, offering tax benefits for high-income individuals [11][12]. - The second product is high-dividend funds, characterized by high dividend yields, suitable for long-term holding to generate income [32][34]. - The third product is regular cash flow combinations, such as the "Monthly Salary Treasure" investment strategy, which provides stable cash flow regardless of market fluctuations [46][48][50]. - The fourth product is pension annuities, which offer stable cash flow with minimal volatility, making them suitable for those seeking predictable income in retirement [61][62][66]. Group 3: Recommendations for Different Retirement Stages - For retired individuals, the "Monthly Salary Treasure" combination is recommended to ensure regular cash flow [77][79]. - For those not yet retired, a combination of the "Monthly Salary Treasure" and pension annuities is suggested, allowing for flexibility based on risk tolerance [80][81][86].

Core Viewpoint - The article discusses various financial products suitable for retirement planning, emphasizing the importance of understanding the three pillars of retirement: basic pension insurance, enterprise annuities, and personal pensions [2][4][5][7]. Group 1: Three Pillars of Retirement - The first pillar is basic pension insurance, commonly known as social security pensions, which helps meet basic needs after retirement [4]. - The second pillar is enterprise annuities, which are not widely adopted in China and are mainly found in economically developed regions and profitable industries [5][6]. - The third pillar consists of personal pensions, where individuals invest their own money for retirement, significantly impacting the disparity in retirement benefits [7]. Group 2: Financial Products for Retirement Planning - The article introduces four common financial products for retirement planning within personal pension accounts: pension funds, high-dividend funds, regular cash flow combinations, and pension annuities [12][54]. Pension Funds - Pension funds refer to public funds available for personal pension accounts, allowing tax deductions on contributions, which is beneficial for high-income individuals [10][11]. - Two main types of pension funds are discussed: pension FOF funds and index funds [13][19]. Pension FOF Funds - Pension FOF funds invest over 80% of their assets in other funds and are categorized into target date FOFs and target risk FOFs, with varying stock and bond allocations based on age [14][16][18]. Index Funds - As of March 31, 2025, there are 85 index funds included in personal pension accounts, covering 16 mainstream stock indices [20][22]. High-Dividend Funds - High-dividend funds, such as dividend index funds, are suitable for long-term holding, providing higher dividend yields over time [25][26]. Regular Cash Flow Combinations - The "Monthly Salary Treasure" investment combination offers approximately 6% annual cash flow, allowing flexible cash flow options [35][40]. - Investors can choose to receive cash flow weekly or monthly, with the total cash flow amount being stable over time [39][42]. Pension Annuities - Pension annuities provide a fixed annual income after a certain age, with minimal market volatility, making them suitable for those seeking predictable cash flow [55][58][61]. Group 3: Retirement Planning Strategies - For retirees, the "Monthly Salary Treasure" combination is recommended for immediate cash flow needs, while younger individuals can combine pension annuities and the "Monthly Salary Treasure" for a balanced approach [64][66]. - A hypothetical case illustrates a 50-year-old investing in both products to secure cash flow before and after retirement [67][71].