The State Administration of Financial Supervision allows insurance companies to adjust the minimum guaranteed interest rate for universal insurance products when they meet the corresponding constraints

On April 25th, the State Administration of Financial Supervision recently issued the "Notice on Matters Related to Strengthening the Supervision of Universal Personal Insurance". The person in charge of the relevant departments and bureaus of the State Administration of Financial Supervision answered the reporter's questions on the relevant issues. It is clear that universal insurance provides the minimum guaranteed interest rate, allowing insurance companies to adjust the minimum guaranteed interest rate for universal insurance products when they meet the corresponding constraints. Especially during the period of interest rate decline, the risk of spread loss can be effectively prevented by reducing the minimum guaranteed interest rate. At the same time, the upper limit of basic insurance premiums should be appropriately raised for future universal insurance, and the development of long-term universal insurance should be encouraged. Further improve the level of risk protection. Guide insurance companies to lengthen the guarantee period of universal insurance, prohibit the development of universal insurance with a period of less than five years (excluding five years), and encourage the extension of the actual duration of the policy through reasonable adjustment of product design elements such as surrender fees and policy continuous bonuses.