[Regulatory authorities take action to rectify "long-term insurance and short-term insurance" and "quick-return" products are suspended] On October 15, reporters recently learned from the industry that the relevant regulatory authorities have issued the "Notice on Carrying out Investigation and Rectification of "Quick-Return" Products. For the "quick-return" products developed by some companies in the bancassurance channel, personal insurance legal entities are required to conduct investigation and rectification, and strictly implement the relevant work requirements of "unification of reporting and banking". The notice stated that some companies in the industry developed "quick-return" products such as ordinary and participating endowment insurance with a payment period of 3 years and an insurance period of 6 years through the bancassurance channel, which have the problem of deliberately lowering the actuarial cost assumptions, and the cash value return time is short. Using such products to offset the scale, there is a risk of "long-term insurance and short-term insurance". According to the reporter's understanding, "quick return" products refer to insurance products whose cash value can exceed the premium paid in a short period of time. Since consumers can recover their capital in a short period of time, they will surrender the insurance product before it expires. A large number of consumers will surrender the insurance together, which will cause a liquidity crisis for insurance companies. (Shanghai Securities News)