If you want to avoid debt maliciously by buying insurance, there is a great legal risk. Both annuity insurance and whole life insurance can only play the role of debt isolation, but can't avoid debt.
Most people understand that when we owe money to others, we use all our assets to buy insurance, so the court can't force us to cancel the policy contract and pay back the money.
If you are already heavily in debt and want to transfer your assets by buying insurance, it is against social order and good customs, and the law certainly does not allow it.
China is a civil law system, and the proceedings are focused on judges, so even similar cases may have different judgments in different cities. But the core is to tell you that if you want to avoid debt maliciously by buying insurance, there is a great legal risk.
In fact, under certain circumstances, insurance can achieve partial debt isolation, but it is over-amplified by a willing heart.
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