Core Viewpoint - The white paper titled "White Paper on the Risk Protection System for Chinese Families in the Context of High-Quality Development of the Insurance Industry" provides a new choice for insurance consumers, offering a "three-step method" for family insurance configuration to effectively manage risks [1][3]. Group 1: Research Collaboration - The research was conducted by Great Wall Life Insurance Co., Ltd. in collaboration with Peking University's School of Economics and Ipsos (China) Consulting Co., Ltd., with academic guidance from experts at the China Insurance Society and Peking University's School of Psychology and Cognitive Science [3]. Group 2: Family Risk Analysis - The white paper innovatively deconstructs family risks, identifying "family lifecycle" and "wealth level" as primary factors, categorizing family lifecycle into five stages: single, startup, development, maturity, and sunset [4]. - It classifies family risks into basic risks (disease, accidents, death), retirement risks, wealth preservation and appreciation risks, and wealth security risks [4]. Group 3: Risk Characteristics and Insurance Models - Different wealth levels and life stages have distinct risk characteristics and insurance priorities, with 20 typical family risk configuration models summarized for quick identification of risks and necessary insurance types [4][5]. Group 4: Family Risk Defense Index Model - The white paper introduces a "Family Risk Defense Index Model" to help families determine the optimal insurance expenditure ratio, balancing consumption, savings, and insurance spending [6]. - This model uses random dynamic simulations to predict income fluctuations and investment returns, allowing families to proactively plan their insurance strategies [6]. Group 5: Insurance Coverage Needs - The white paper outlines a logical framework for calculating insurance coverage needs, addressing gaps in life, health, and retirement insurance, and providing clear guidelines for determining necessary coverage amounts [8][9]. - It emphasizes the importance of maintaining living standards for dependents in the event of a primary earner's death, and similarly for health and retirement coverage [9][10]. Group 6: Comprehensive Service Framework - Great Wall Life Insurance aims to provide a comprehensive service framework, focusing on risk recognition, assessment, resolution, and long-term management, utilizing tools like the "Customer Knowledge System" and "Family Risk Defense Index Model" [10]. - The company also integrates health management, retirement planning, and lifestyle services into its offerings, ensuring a holistic approach to family risk management [10].