China News Service, January 4th. On the 4th, the China Banking and Insurance Regulatory Commission formulated and issued the "Rules for Information Disclosure of Personal Insurance Products with a Period of More Than One Year" (hereinafter referred to as the "Rules"). 

  As a supporting document of the Measures for the Administration of Information Disclosure of Personal Insurance Products (Decree No. 8, 2022 of the China Banking and Insurance Regulatory Commission), the "Rules" comprehensively regulate the information disclosure behavior of insurance companies by clarifying the specific requirements for information disclosure of various types of personal insurance products. The information disclosure of large companies has continuously improved the transparency of insurance products and protected the legitimate rights and interests of consumers. 

  The "Rules" clearly require that all personal insurance products with a term of more than one year should formulate product instructions, and should disclose in detail the product promotion materials, protection level, benefit demonstration, etc. Various risk characteristics, and expressly indicate the key content of the product such as payment method and surrender loss. 

  The "Rules" require insurance companies to disclose dividend realization rate indicators, and cancel the expression of high, medium and low demonstration interest rates, and lower the demonstration interest rate level.

At the same time, insurance companies should be given appropriate time to adjust their businesses to effectively prevent business operation risks.

(China New Finance and Economics)