Core Viewpoint - The China Insurance Industry Association has triggered a downward adjustment of the preset interest rates for life insurance products, with the current research value for ordinary life insurance products set at 1.99%, below the existing cap of 2.5% for two consecutive quarters [1][3]. Group 1: Rate Adjustments - The maximum preset interest rate for ordinary life insurance products has been lowered from 2.5% to 2%, while the maximum for participating products has decreased from 2% to 1.75%, and the minimum guaranteed rate for universal life products has been reduced from 1.5% to 1% [1][3]. - This is the first time the dynamic adjustment mechanism for preset interest rates has been triggered since its establishment [2]. - The adjustment reflects a significant downward shift, with the maximum preset interest rates for ordinary and universal life insurance products both reduced by 0.5% [3][4]. Group 2: Market Reactions - There is a "last train effect" observed, with a surge in sales of products offering the previous 2.5% rate expected throughout August [2]. - Popular products, particularly those with a 2.5% preset interest rate, are seeing increased demand from clients [5][6]. - Some clients are actively seeking to purchase these products, indicating a rational approach rather than panic buying [6]. Group 3: Product Development Trends - The adjustment in preset interest rates is expected to influence product development, registration, and sales processes within insurance companies [4]. - The lower preset interest rates are likely to drive a shift towards participating insurance products, which have more flexible dividend distribution mechanisms [4][9]. - The proportion of new participating insurance products has significantly increased, with 33% of new life insurance products launched in the first half of 2025 being participating insurance [8]. Group 4: Financial Implications - The reduction in preset interest rates will lead to decreased returns on savings-type insurance products, with potential earnings dropping significantly over long-term investments [7]. - Long-term critical illness and term life insurance premiums may rise, with estimates suggesting a potential increase of up to 30% following the rate adjustment [7]. - The shift towards floating yield products is seen as a strategy to lower liability costs and maintain profit margins amid declining investment yields [9].

"200万元买房就是稳赔，但200万元买顶流的快返年金，不仅本金一直在，第五年后每年还有2.7%的确 定利息直到终身……" 每经记者|袁园 每经编辑|陈旭 "低利率时代，银行定存收益跌破1.5%，而快返年金第五年就能领钱，活多久领多久，还能保本增 值……" "银行利率降到1%以下了，钱存银行是真没利息了，快返年金类似5年定存+n个一年期定存，一辈子领 利息，买定，就不降息了……" 以某险企的一款快返年金为例，王女士若为自己投保了这款产品，并一次性趸交10万元保费，保险期间 为终身，基本保险金额为2700元，领取频次为年领，则自该保单第六年起可以领取2700元的保险生存 金，直至王女士身故。 "快返型年金的核心优势在于返还速度与资金灵活性。相较于普通年金通常需等待至退休后才开始领 取，快返型年金最快第五年即可返还资金，且部分产品在第五年后现金价值超过已交保费，退保无损 失。"北京排排网保险代理有限公司总经理杨帆在接受《每日经济新闻》记者书面采访时表示，这种设 计既能满足教育金、婚嫁金等中期资金需求，又能通过搭配万能账户实现二次增值（需注意万能账户利 率不保证）。此外，快返型年金提供终身稳定现金流，合同约定领取金 ...