Postal bank. Zhejiang Postal Annuity Insurance is a long-term pension insurance launched by China Postal Savings Bank. The insurance premium is deducted from the Postal Savings Bank, and the insurance aims to provide customers with a stable pension income. As the Postal Savings Bank is a large state-owned financial institution, many people think that postal annuity insurance is relatively safe. China Post Group Corporation is a large-scale wholly state-owned enterprise established on the basis of the Law of People's Republic of China (PRC) on Industrial Enterprises Owned by the Whole People and the operating assets of the former State Post Bureau and some enterprises and institutions.