Insurance companies will not go bankrupt! Even if a small insurance company fails to operate, the CIRC will find another company or the CIRC to take over. In other words, if you are insured, the established insurance benefits will be realized under the condition that you perform the contract. Don't worry about this!
But insurance is a long-term financial product. Choosing a powerful company will always bring you more benefits, such as dividends.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.