Expansion of "negative list" for personal insurance, adding regulatory red lines for products such as dividend insurance and medical insurance

According to industry sources, the China Banking and Insurance Regulatory Commission recently issued the "Negative List" of life insurance products to all life insurance companies. The 2026 version of the "Negative List" contains a total of 105 items, two more than the 103 items in the 2025 version. These two new items involve the strengthening of responsibilities for prescription review in medical insurance and the prevention of misleading information in dividend distribution for endowment insurance. In addition, the 2026 version of the "Negative List" also made adjustments to issues such as inadequate implementation of the "separation of insurance sales from banking activities," setting excessively high deductibles or low payout ratios in medical insurance, and improper use of life tables. The document firmly rejects these practices.