"Quick-return" life insurance products face investigation and rectification.

Journalists have learned from industry sources that recently, financial regulatory bureaus in multiple locations have required life insurance companies to investigate and rectify "quick-return" products, in order to prevent disorderly competition and drive the industry's development toward a focus on value and efficiency. Among them, the Shanghai Financial Regulatory Bureau recently issued a "Notice on Carrying Out the Investigation and Rectification of 'Quick-Return' Products" to life insurance companies within its jurisdiction, stating that recently, during product regulatory retrospective reviews, it was found that some companies in the industry had developed ordinary and participating endowment insurance products with a 3-year payment period and a 6-year insurance period in the bancassurance channel, among other "quick-return" products, that deliberately actuarial expense assumptions. The cash value break-even time is short, and such products are used to boost scale, creating risks associated with long-term insurance being operated on a short-term basis.