When the insured's life is insured, the insurer pays the insurance money. At first, life insurance was to protect the financial burden that unpredictable death might bring. Later, savings were introduced into life insurance, so insurance companies will also pay the agreed premium to those who are still alive when the insurance expires. Life insurance is a kind of social security system, and it is an insurance business with human life and body as the insurance object.
Extended data:
I. Qualifications of the applicant
1, a natural person or legal person with full capacity for civil conduct.
2. It has insurable interest to the insured (relevant certificates of insurable interest can be provided when necessary).
3. Have the ability to pay and be willing to undertake the obligation to pay premiums.
II. Qualifications of the Insured
1. Have the domicile or permanent residence of the insurance company.
2. Non-local hukou, but working locally, with stable income and fixed residence, and can provide proof when necessary. Relevant certificates refer to identity cards, household registration certificates, local temporary residence permits, labor contracts, industrial and commercial business licenses, etc. (Compatriots from Hong Kong, Macao and Taiwan must have investments in the local area and often travel back and forth or live in the local area. )
3. If a minor is insured for death liability insurance, the applicant must be a parent (legal guardian) or have the written consent of the parent (legal guardian), and the cumulative underwriting risk shall not exceed the relevant provisions.
References:
Baidu encyclopedia-life insurance