With consideration to the needs of different policyholders and an aging population, China Life continues to promote traditional single premium payment and regular payment life insurance denominated in different currencies, annuity products suitable for retirement planning, health insurance that improves the quality of healthcare, and investment-linked insurance policies that simultaneously meet investment and insurance needs, in order to meet the different needs of policyholders in different stages of life. Policyholders can fill in gaps in their coverage through proper insurance planning, and maintain the quality of future life and healthcare by planning in advance.

Micro Insurance

In response to the government policy to promote micro insurance, China Life lifted restrictions on the elderly collecting living allowances on medium and low income spectrum according to the Senior Citizens Welfare Act and their family members, so that they can purchase micro accident insurance, providing basic security to the economically disadvantaged at affordable premiums, and preventing accidents from severely impacting households financially.

Furthermore, China Life collaborated with banks, government agencies, and non-government organizations in promoting micro insurance services to every corner that needs care. To provide coverage to even more economically disadvantaged people, we expanded the scope of coverage in 2022 and promoted micro insurance by donating insurance premium, supporting people through different stages of life with insurance, thus allowing insurance to serve the function of stabilizing society.

Investment-linked Products

China Life's investment-linked insurance is aligned with ESG. We jointly launched a discretionary investment account with ESG as the core investment strategy together with Barings SICE in May 2022 – Barings Green Trend Discretionary Management Account. It uses green trends as the theme along with four topics for allocating investment targets, including "low carbon economy, agricultural upgrade, mobility revolution, and resource transition." Management by a professional investment institution allows customers to seize ESG investment opportunities through investment-linked insurance policies.