The insurance protection fund is to protect the interests of the insured and support the steady operation of insurance companies. An insurance company shall deposit an insurance protection fund in accordance with the provisions of the insurance supervision and administration institution. The insurance protection fund is centrally managed and used by the China Insurance Regulatory Commission (hereinafter referred to as the China Insurance Regulatory Commission). China CIRC will set up a special account for the insurance protection fund, and the insurance protection fund will be accounted for separately by the insurance company.

According to the relevant regulations of the state, insurance companies should pay the insurance guarantee fund in the following proportions: property insurance, accidental injury insurance, short-term health insurance, and pay 1% retention premium; Long-term life insurance and long-term health insurance with guaranteed interest rate shall be paid at 0. 15% of the retained premium; Long-term life insurance without guaranteed interest rate shall be paid at 0.05% of the retained premium; The proportion of compensation for other insurance businesses of insurance companies shall be stipulated separately by the China Insurance Regulatory Commission.