When we buy insurance, we buy a sense of security. In order to gain a sense of security firmly, we will check various insurance strategies, consider the premium amount, and carefully check the terms of the contract...

When we buy insurance, we buy a sense of security. In order to gain this sense of security firmly, we will check various insurance strategies, consider the premium amount, and carefully check the terms of the contract...just to successfully acquire insurance.

However, someone asked: If is the insurance carrier, the insurance company, goes bankrupt, will the insurance policy be invalid? Will the money you paid be wasted? Will this sense of security still exist?

1. Will the insurance company go bankrupt?

First of all, let me explain to you that insurance companies are allowed to be dissolved.

According to the relevant provisions of the Insurance Law, if an insurance company in needs to be dissolved due to division or merger, or if the shareholders will be dissolved, or the company's articles of association stipulate that it is dissolved, it can be dissolved after approval by the insurance regulatory authority of the State Council.

. If an insurance company that operates life insurance business, there are restrictions on dissolution, and it can only be dissolved due to division, merger, or revocation in accordance with the law.

After the insurance company dissolves , it is necessary to establish an liquidation group in accordance with the law for liquidation. After

goes bankrupt according to law, liquidation also needs to be carried out in accordance with regulations. needs to pay off the bankruptcy expenses and common debts first, and then liquidate them in order. The details are as follows:

① Salaries, social security expenses, compensation, etc. owed to employees.

② Insurance compensation or payment.

③ Social insurance fees and taxes owed.

④Ordinary bankruptcy debt .

summary: Whether it is a life insurance company or a property insurance company, it can go bankrupt according to law. After bankruptcy, debts will be liquidated according to law.

Next, let me tell you in turn: When the insurance company goes bankrupt, how will the life insurance , health insurance, accident insurance, and property insurance we purchased will be handled.

2. The insurance company has gone bankrupt. What should I do if I bought the insurance?

1, life insurance policy

life insurance policy can be divided into two types, one is ordinary life insurance and the other is new life insurance.

① Ordinary life insurance includes: term life insurance, lifetime life insurance, annuity insurance and so on.

If you buy ordinary life insurance, after the insurance company goes bankrupt, will enter the liquidation process and then transfer all life insurance policies to other insurance companies that operate life insurance business.

Simply put, it is to change an insurance company to serve consumers.

②New life insurance includes: dividend insurance , universal insurance and other financial insurance.

If it is this type of new life insurance, when the insurance company goes bankrupt and liquidates, will also transfer the policy to the new insurance company, and the insurance contract will continue to be valid.

However, the financial dividend income may become 0 or even become a negative number.

2, non-life insurance policy

Non-life insurance policy usually covers three types of insurance: accident insurance, health insurance, and property insurance.

①Accident insurance: including short-term accident insurance, long-term accident insurance, travel insurance, etc.

②Health insurance: mainly medical insurance and serious illness insurance.

③ Property insurance: including property insurance , corporate property insurance, liability insurance, etc.

According to relevant regulations, when an insurance company goes bankrupt, these non-life insurance policies can only terminate the contract.

The specific processing method is: insurance company will compensate the cash value of the insurance contract and then terminate the contract.

If the insurance company has limited compensation ability, the insurance protection fund will compensate the part that cannot be compensated, which means you don’t have to worry about losing money.

Seeing this, some people may have questions: " If I bought a life insurance policy, when the insurance company went bankrupt, but I don't want to continue to serve by other insurance companies, can I choose to cancel the insurance ? "

is OK. If chooses to cancel the insurance, it will enter the same processing process as a non-life insurance policy, that is, the cash value of the policy. If the insurance company does not have enough compensation ability, the insurance protection fund will compensate.

is written at the end: insurance companies will go bankrupt, but whether they buy life insurance, accident insurance, health insurance, or property insurance, there will be ways to protect our consumers' rights and interests to deal with bankruptcy. Therefore, we don’t have to worry about the closure of the insurance company, just buy insurance with confidence.

After reading the article, if you still have any questions, you can check out the article "Buy insurance like this in without spending money in ".