"保险预定利率下调进入最后倒计时。"8月24日，保险代理人刘春生在微信朋友圈晒出一份电子屏 幕倒计时。倒计时显示，距离8月31日24时保险产品切换还有最后7天。 7月25日，中国保险行业协会发布重要数据，普通型人身险预定利率研究值降至1.99%。这意味 着，该数值已经连续两个季度低于现行利率超25个基点，触发动态调整机制。根据相关监管规则，保险 行业将调降人身险预定利率。 眼下，新旧产品切换的最终时点将至。对于此次调降，保险行业反响如何？消费者又该如何应对？ 《金融时报》记者对此进行了采访。 预期充足 市场告别"抢购潮" 从当前产品调整情况来看，普通型保险产品预定利率最高值由2.5%调整为2.0%，分红型保险产品 预定利率最高值调整为1.75%，万能型保险产品最低保证利率最高值为1.0%。这也是自年初监管发布 《关于建立预定利率与市场利率挂钩及动态调整机制有关事项的通知》以来，首次根据市场利率进行调 整。 保险产品预定利率是在产品设计时对未来资金运用收益率的精算假设值，直接影响保险产品定价和 保单利益。通常情况下，预定利率下调意味着保险产品价格上涨或收益下降。因此，有保险配置需求的 消费者大多选择在预定利率下 ...

Core Viewpoint - The recent comprehensive reduction of the predetermined interest rates for life insurance products is leading to a wave of product discontinuations in the market, with companies proactively switching to lower-rate products to optimize their liabilities [1][2][3]. Group 1: Product Discontinuation - Many insurance products have been discontinued recently, with some experiencing "lightning" stoppages, such as a dividend-type life insurance with a guaranteed rate of 2.0% being pulled from the market within two hours of notification [2]. - Several insurance companies have announced the discontinuation of multiple products and adjustments to the maximum predetermined interest rates for new filings, with ordinary insurance products set at 2.0%, dividend products at 1.75%, and universal insurance products at 1.0% [2]. - The recent adjustments reflect a non-symmetrical reduction in predetermined interest rates, with ordinary and universal products down by 50 basis points and dividend products down by 25 basis points [2]. Group 2: Market Dynamics - The insurance market has shown a relatively calm atmosphere prior to the recent rate reductions, contrasting with previous instances where speculation around product discontinuation was rampant [3]. - Regulatory measures have been strictly enforced to control sales misguidance, contributing to a more rational consumer behavior and reducing the anxiety surrounding product discontinuation [3]. Group 3: Product Strategy - Insurance companies are actively promoting the transformation towards dividend insurance products, with many updating a significant number of their offerings to highlight the advantages of these products in the new interest rate environment [4]. - The predetermined interest rate for dividend products is strategically set lower than that of other types, enhancing their relative appeal, especially as the potential investment returns could exceed those of traditional products [4][5]. - The risk-sharing mechanism of dividend products helps alleviate the pressure of interest rate differentials for insurance companies, allowing for greater investment flexibility [5]. Group 4: Diversification Opportunities - While dividend insurance is currently favored, there is a call for product diversification to avoid excessive competition in a single market segment [5]. - Companies are encouraged to explore three areas for diversification: health insurance products that align with aging demographics, integration with the pension industry, and the development of specialized insurance products in collaboration with public resources [5].

Core Viewpoint - The first adjustment of the predetermined interest rates for life insurance products is set to occur, with significant reductions in rates for various types of insurance products, indicating a shift in the market dynamics and product focus for insurance companies [1][4]. Group 1: Rate Adjustments - The maximum predetermined interest rates for ordinary and participating insurance products will be reduced to 2.0% and 1.75%, respectively, while the minimum guaranteed interest rate for universal insurance products will be lowered to 1.0% [1][2]. - The adjustment will take effect from September, with a deadline for the sale of products exceeding these new rates set for August 31, 2025 [2][4]. - The current research value for ordinary life insurance products is reported at 1.99%, down from 2.34% and 2.13% earlier this year, triggering the dynamic adjustment mechanism [4]. Group 2: Product Strategy and Market Response - Insurance companies are actively switching their product offerings in response to the rate changes, focusing on structural adjustments, risk control, and innovation [2][5]. - New products with lower predetermined interest rates are being introduced, such as a participating insurance product with a guaranteed rate reduced to 1.5% [2][6]. - The non-symmetric nature of the rate adjustments is expected to enhance the competitiveness of participating insurance products, making them a focal point for future sales efforts [6][7]. Group 3: Market Implications - The reduction in predetermined interest rates is anticipated to lower the liability costs for insurance companies, alleviating pressure from interest rate spreads [5]. - Analysts suggest that participating insurance products will become increasingly attractive compared to traditional savings and other investment products, potentially driving a shift in consumer preferences [6][7]. - The trend of increasing floating yield products is expected to improve the asset allocation and yield flexibility for insurance companies, further supporting the growth of participating insurance products [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]

Core Viewpoint - The recent reduction in Loan Prime Rate (LPR) and bank deposit rates is expected to lead to a significant decrease in insurance product preset rates in the third quarter of this year, prompting insurance companies to adapt their strategies for stable operations in a low-interest environment [1][2][3]. Rate Adjustment Expectations - The insurance industry is closely monitoring market interest rate changes due to the establishment of a mechanism linking insurance product preset rates to market rates. The likelihood of preset rate reductions in the third quarter is considered high [2]. - The maximum preset rate for newly filed ordinary insurance products will be capped at 2.5% starting September 1, 2024, with further reductions for dividend and universal insurance products [2]. - The preset rate research values for ordinary life insurance products were reported at 2.34% and 2.13% on January 10 and April 21, respectively, indicating a downward trend [3]. Industry Response to Rate Changes - Insurance companies are actively promoting product sales while preparing new products to mitigate the impact of potential preset rate reductions. This proactive approach aims to enhance sales conversion rates before any price increases or yield decreases occur [4]. - In the first quarter of this year, the total insurance premium income for life insurance companies was approximately 1.66 trillion yuan, reflecting a year-on-year decline of 0.3%, with life insurance premiums decreasing by nearly 1% [4]. Future Outlook - Expectations for further reductions in preset rates are rising, leading insurance companies to strengthen their sales efforts. Despite fluctuations in market rates, demand for protection products, particularly health insurance, remains stable [5]. - To address the narrowing profit margins in the life insurance sector, companies are encouraged to focus on developing floating yield insurance and innovative non-interest-sensitive products [5][6].