Generally speaking, financial institutions such as banks and insurance companies are less prone to bankruptcy and bankruptcy, after all, these financial institutions can be said to be institutions that can make money lying down.
However, in real life, there are many banks that are at risk of bankruptcy for various reasons, including insurance companies, and there have been cases of failure in history.
So, for such a situation, the most worrying thing for everyone is, if the insurance company fails, will the policy contract bought by this company still be valid? Today, let's take a look at this issue that everyone is particularly concerned about, and let's take a look at how the relevant policies are stipulated.
01.
What are the insurance companies that have gone bankrupt in mainland China?
Looking back at the development of the modern insurance industry in the mainland, in fact, there are not many insurance companies that have actually gone bankrupt and collapsed, and there are only three at present.
The first is Oriental Life Insurance, which was established in December 2001, when it was funded by Delong enterprises, and later Delong enterprises had problems, Oriental Life Insurance was also implicated, and the funds faced major difficulties, and in 2004, it was required by the relevant departments to stop business.
The second is Guosen Life Insurance, which is also the fastest insurance company in the history of mainland insurance, founded in February 2005, soon after its establishment because of the general manager and shareholders of the disagreement and the situation of leaving, after the investigation by the Insurance Regulatory Commission, it was found that Guosen Life Insurance had capital flight and other violations of the problem, in June 2005 was ordered to dissolve by the Insurance Regulatory Commission.
The third one is called Anbang Insurance. This insurance company can be regarded as a giant in the industry. In 2004, Anbang Insurance was formally established, and later Anbang Insurance exceeded 1 billion yuan in premiums in just one year, and at the same time cooperated with Shanghai Tongqi and other companies, and opened 22 branches in China.
Overseas, Anbang has also acquired a number of insurance companies, banks, hotels, and pension chains, with a total asset scale of 2 trillion yuan. By 2009, Anbang's premiums exceeded 20 billion in five years.
It can be said that the development momentum of Anbang has been very good over the years, and Anbang even entered the list of the world's top 500 companies before bankruptcy, with total assets exceeding 2 trillion yuan.
However, in the end, due to some violations of laws and regulations in the financial market, it was forced to shut down and finally declared bankruptcy.
Of course, the person who is most concerned about the bankruptcy of an insurance company is the person who has bought the insurance of the insurance company. In particular, for some life insurance products, the term of the product may be as long as several decades, and if the insurance company no longer fulfills the obligations of the insurance contract after bankruptcy, then buying these products is likely to be equivalent to a waste.
So, after the insurance company goes bankrupt, does the insurance you buy continue to be valid, and if so, who should you go to to fulfill the obligations of the insurance contract?
02.
Is the policy still valid after the insurance company goes bankrupt?
In fact, we don't need to worry too much about this issue, because in the insurance contract, the obligations of the insurance company will not be fulfilled because of the bankruptcy of the insurance company, and the policy is still valid.
In accordance with the current regulations,
This means that once the company you bought the insurance from fails, then your policy will be transferred to another insurance company to take over, and if no insurance company is willing to take over, then the regulator will arrange for another life insurance company to take over its business and continue to perform the original insurance contract to ensure that the rights and interests of consumers are not lost.
Therefore, after buying insurance, there is no need to worry about the insurance company going bankrupt, and the insurance products you purchased will become invalid. Because after the insurance company goes bankrupt, there will be someone who "goes to the bottom".
For example, netizen @燕子 said that I set up an Anbang insurance company from these three unlucky insurance companies, and in 18 years I bought Anbang Insurance's three-year wealth management products from the bank, and the next year Anbang Insurance Company went bankrupt and collapsed, and I was also very nervous at that time. Fortunately, at the expiration of three years, I redeemed it with interest. There is no need to be afraid of anything if there is a country.
In conclusion, although some extreme cases have occurred with some insurers, this will not have a material impact on the policy equity of consumers.
Because the mainland's insurance industry has a strict regulatory system and a sound risk prevention mechanism, even if extreme situations occur, there will be corresponding relief measures to protect the rights and interests of consumers. Therefore, we don't have to worry too much when it comes to buying and using insurance.
Of course, even so, it is advisable to choose a regular, reputable, and well-run insurance company, and carefully read and understand the terms of the contract and the exclusion clause of liability to avoid unnecessary disputes and losses.
Wan Ziwen said: Every word of the article was typed out by me, and I clicked "watching" to let me know that you are also "doing your best" for life.
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