A new round of insurance premium rate cuts is "like a bowstring drawn tight".

Reporters learned from within the insurance industry that recently, several insurance companies have been filing for new product development. At the same time, in order to adapt to the rhythm of switching between new and old products after the interest rate changes, they have made preparations in areas such as sales staff training and channel cooperation. The countdown to the new round of scheduled interest rate reduction for life insurance products has begun. "Regarding the next wave of scheduled interest rate adjustments, we plan to implement them in September. Bonus-based insurance products will be the main focus of the new products at that time," a person in charge of a life insurance company in Beijing told reporters. Several life insurance companies also stated that they will switch the scheduled interest rates around September, and the product structure will be further adjusted. The proportion of traditional insurance will decrease, while the proportion of bonus-based insurance and protection-type products will increase. According to reporters, after the interest rate switch, the mainstream traditional fixed-income savings insurance's scheduled interest rate will decrease from 2.5% to 2%, and the mainstream bonus-based insurance's guaranteed interest rate will decrease from 2.0% to 1.5%. The interest rates for universal accounts will also decrease, and the prices of protection-type products such as critical illness insurance under the same conditions may increase.