Anbang Insurance Win No.3 is available in all banks. Since you explained that it is insurance, it proves that the employees of the bank are not fooling you. The income of this insurance has no additional conditions and will be automatically collected within 3 days after the expiration. Just make sure your account is valid when you buy it, and don't worry about the rest ~
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.