The National Financial Supervisory Administration issued a notice regarding the strengthening of regulation on universal life insurance. Except for products such as whole life insurance, endowment insurance, and annuity insurance, other products must not be designed as universal types. The insurance period for universal insurance must not be less than five years. Insurance companies can extend the actual duration of policies by reasonably setting surrender fees, partial withdrawal fees, policy continuation rewards, and other product elements to further meet the long-term protection needs of consumers. The issuance timing of policy continuation rewards must not be earlier than the end of the fifth policy year.