Personal advice:
For those who want to buy insurance, China Life Insurance is a good choice, because China Life Insurance is the largest insurance company in China and covers a wide range of coverage. With regard to the bankruptcy of insurance companies, because our country's laws clearly stipulate that insurance companies can't go bankrupt, this means that users don't have to worry about their own protection, just choose the insurance products that suit them.
At the same time, there are many insurance companies in the market. I suggest that users choose a large insurance company, because the coverage of large insurance companies will be wider, and the difficulty of claims will be lower, which will help users safeguard their legitimate rights and interests.
Legal analysis:
Insurance is different from other products. Insurance is subject to a long-term contract. If the insurance company is merged or represented, the consumer's policy is still valid, and the follow-up service will be taken care of by a special person. Consumers don't have to worry about this. In addition, in order to prevent the bankruptcy of insurance companies, the state will take precautions, set a high threshold for the establishment of insurance companies, and supervise their operations. If the solvency is not up to standard, the CBRC will take over. Many insurance companies, such as Huaxia Life Insurance this year, have announced to take over.
Legal basis:
Strictly speaking, insurance companies will go bankrupt, but China's insurance law clearly stipulates that insurance companies are not allowed to go bankrupt and be dissolved. Life insurance companies, in particular, will not be dissolved according to the wishes of shareholders, but insurance companies can apply for division or merger. If due to poor management, the CIRC has the right to stop the business of this insurance company, and can apply for re-operation if the funds are sufficient to support the insurance company to re-operate. In addition, if the court declares bankruptcy, China Banking and Insurance Regulatory Commission, China has the right to designate other insurance companies for escrow, and handle the follow-up claims, surrender and preservation of existing policies.