(a) the loss of the insured is less than 50 thousand yuan, and the insurance guarantee fund will give full assistance;
(two) if the applicant is an individual, the amount of assistance from the insurance protection fund is 90% of the excess loss of more than 50 thousand yuan; If the applicant is an institution, the amount of assistance from the insurance protection fund is 80% of the excess loss exceeding RMB 50,000.
The loss of the applicant mentioned in the preceding paragraph refers to the difference between the policy interest of the applicant and the amount of claims obtained from the liquidation property.
If a life insurance company is revoked or declared bankrupt, its life insurance contract must be transferred to other life insurance companies. If the transfer agreement cannot be reached with other life insurance companies, it shall be accepted by the life insurance company designated by China CIRC.
When the liquidation assets of an insurance company that has been revoked or declared bankrupt are insufficient to pay the payment agreed in the life insurance contract, the insurance protection fund may provide assistance to the policy transferee company in accordance with the following provisions:
(a) if the applicant is an individual, the amount of relief shall be limited to 90% of the policy benefits after the transfer;
(2) If the applicant is an institution, the amount of relief shall be limited to 80% of the policy interest after the transfer.
The policy transferee company shall calculate the policy benefits of the insured after the transfer according to the standards stipulated in the preceding paragraph, and modify the life insurance contract with the insured accordingly.
If an insurance company is revoked or declared bankrupt, the applicant may sign a creditor's rights transfer agreement before liquidation, and the insurance protection fund will pay the applicant a bailout, and the applicant will transfer his creditor's rights to the insurance protection fund.
After the liquidation, if the amount of claims received by the insurance guarantee fund is greater than the amount of relief paid, the insurance guarantee fund shall return the difference to the insured.
When the insurance industry is facing a major crisis, which may seriously endanger the public interests and financial stability, the China Insurance Regulatory Commission may use the insurance protection fund.
The following businesses of an insurance company do not belong to the rescue scope of the insurance protection fund:
(1) Business directly underwritten by insurance companies abroad and business introduced from abroad;
(2) Policy insurance business of the insurance company;
(3) Other insurance businesses that are not covered by the insurance guarantee fund as determined by the China CIRC.