According to the document No.2017 134 of China Insurance Regulatory Commission, the first payment time of survival insurance benefits for old-age security products and annuity insurance products is five years after the policy takes effect, and the proportion of annual payment or partial collection shall not exceed 20% of the paid premiums. That is, the annuity insurance products designed by insurance companies must be paid for five years before they can return the survival money. An insurance company may not design universal insurance products or invest in linked insurance products in the form of additional insurance.

The biggest adjustment of PICC Life Insurance is to return the first annuity five years after the policy takes effect, which is in line with the document. It should be 20 17 10 1, and the wealth management insurance products with universal accounts will be withdrawn from the insurance market.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.