The reporter learned from the industry that recently, financial supervisory authorities in many places have requested personal insurance companies to investigate and rectify “quick return” products, prevent disorderly competition, and push the development of the industry to focus on value and efficiency. Among them, the Shanghai Financial Supervisory Authority recently issued the “Notice on Investigating and Rectifying “Fast Return” Products” to personal insurance companies under its jurisdiction, stating that recently, during product supervision backtracking, it was discovered that some companies in the industry have a problem of deliberately reducing actuarial expenses in “fast return” products with a payment period of 3 years and an insurance period of 6 years in banking insurance channels. The cash value rebate time is short; with such products, there are long-term and short-term risks.

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