Core Viewpoint - The implementation of the policy-based long-term care insurance (referred to as "long-term care insurance") is significantly alleviating the burden on families caring for disabled elderly individuals, especially in the context of China's aging population [1][5]. Group 1: Long-term Care Insurance Implementation - The long-term care insurance system was fully launched in Changzhou, Jiangsu Province, on January 1, 2022, after a three-year pilot program [1]. - As of June 2025, the long-term care insurance fund in Changzhou has disbursed 213 million yuan, benefiting a large number of residents [2]. Group 2: Service Structure and Benefits - The long-term care insurance supports a multi-tiered service system, including home care, nursing home care, and hospital care, with monthly payment caps of 1,500 yuan for severely disabled individuals and 900 yuan for moderately disabled individuals [2]. - Caregivers can receive a monthly living care subsidy of 600 yuan, enhancing the financial support for families [2]. Group 3: Funding and Operational Model - The funding mechanism for the long-term care insurance in Changzhou involves a shared responsibility model, with a uniform personal contribution of 30 yuan per year, supplemented by allocations from the medical insurance fund and fiscal subsidies [3]. - The operational model includes a "government-business cooperation" approach, with the Changzhou Medical Insurance Bureau responsible for policy formulation and China Pacific Insurance as the main contractor [3]. Group 4: Quality Control and Supervision - A dedicated auditing team conducts regular home visits and phone follow-ups to ensure service quality, supported by an online video inspection system for remote monitoring of caregivers [4]. - The establishment of the Changzhou Long-term Care Insurance Industry Association aims to address common challenges such as lack of coordination and talent shortages within the industry [4]. Group 5: National Expansion and Future Outlook - As of now, 49 cities in China are piloting long-term care insurance, covering approximately 190 million people, with total funding exceeding 100 billion yuan and expenditures surpassing 85 billion yuan [5]. - The issuance of the "Opinions on Accelerating the Establishment of a Long-term Care Insurance System" in July 2025 marks the beginning of a unified national system, with further implementation expected across various regions [5].

Core Insights - The implementation of the policy-based long-term care insurance (referred to as "long-term care insurance") has significantly alleviated the burden on caregivers, particularly in the context of an aging population in China [1][2]. Group 1: Long-term Care Insurance Implementation - The long-term care insurance system was fully launched in Changzhou, Jiangsu Province, on January 1, 2022, after a three-year pilot program [1]. - The program aims to enhance the elderly care support system in response to the increasing demand due to the aging population [1]. Group 2: Service Structure and Benefits - The long-term care insurance in Changzhou supports various care services, including home care, institutional care, and hospital care, creating a multi-tiered service system [2]. - Caregivers can receive a monthly living care subsidy of 600 yuan, in addition to multiple home care visits funded by the long-term care insurance [2]. - The program has a monthly payment cap for severe and moderate disability cases, set at 1500 yuan and 900 yuan, respectively [2]. Group 3: Funding and Operational Model - The funding mechanism for the long-term care insurance involves a shared responsibility model, with individuals contributing 30 yuan annually, supplemented by health insurance funds and government subsidies [3]. - The operational model includes a "government-business cooperation" approach, with the local health insurance bureau overseeing policy formulation and various insurance companies participating in service delivery [3]. Group 4: Quality Control and Industry Collaboration - Quality control measures include dedicated audit staff and an online video monitoring system to oversee care services [4]. - The establishment of the Changzhou Long-term Care Insurance Industry Association aims to address common challenges in the industry, such as coordination and standardization [4]. Group 5: National Expansion and Future Outlook - As of now, 49 cities in China have initiated long-term care insurance trials, covering approximately 190 million people and accumulating over 100 billion yuan in funding [5]. - The issuance of national guidelines in 2025 marks a significant step towards establishing a unified long-term care insurance system across the country [5]. - The ongoing development of the long-term care insurance system is seen as a crucial milestone in addressing the challenges posed by an aging population and enhancing the social security framework [5].

Core Viewpoint - The article emphasizes the importance of the "Five Major Articles" in financial services for high-quality development of the real economy and the deepening of financial supply-side structural reforms [1] Group 1: Financial Services and Economic Development - China Life Insurance Company is committed to implementing the "Five Major Articles" to support national strategies and the real economy, focusing on technology, green finance, inclusive finance, pension finance, and digital finance [1][4] - In Shanxi, the company has established strategic partnerships, such as with Shanxi Unicom, to enhance customer service and support the high-quality development of technology-driven enterprises [1][2] Group 2: Green Finance Initiatives - The company has set clear goals for green finance, achieving a green insurance premium income of 1.575 million yuan in 2024, a 33% year-on-year increase, thus providing risk protection for Shanxi's green transformation [2] - Agricultural insurance has seen significant growth, with short-term agricultural insurance premiums reaching 234 million yuan, a 7.26% increase, and rural revitalization insurance premiums exceeding 83 million yuan, up 39.53% [2] Group 3: Inclusive Finance and Social Welfare - The company has made notable achievements in providing insurance for special groups, covering 640,000 elderly individuals with 9.741 billion yuan in risk protection, and 1.29 million for family planning insurance with 39.584 billion yuan in risk protection [2] - Support for small and micro enterprises includes insuring 9,027 businesses, providing 52.2 billion yuan in risk protection, benefiting over 104,200 employees [2] Group 4: Pension Finance and Aging Population - The personal pension business has seen a 151.3% year-on-year increase in customer numbers, with commercial pension insurance premiums reaching 12.9534 million yuan [3] - The company is actively participating in long-term care insurance pilot programs, covering over 80,000 individuals in Linfen City by the end of 2024 [3] Group 5: Digital Finance Enhancements - The company has achieved a 99.66% online rate for personal policy maintenance and a 99.89% e-claim rate, significantly improving customer experience [3] - New rural service points have been established to enhance service accessibility, with 26 new or activated rural outlets [3] Group 6: Future Directions - The company aims to continue developing a multi-layered, widely covered, diverse, and sustainable service system, enhancing its role in financial services for the public [4]

Core Viewpoint - The article emphasizes the importance of the "Five Major Articles" in enhancing financial services for high-quality development of the real economy and deepening financial supply-side structural reforms [1] Group 1: Financial Services and Strategic Initiatives - China Life Insurance Company is actively implementing the "Five Major Articles" to serve national strategies and the real economy, focusing on technology, green finance, inclusive finance, pension finance, and digital finance [1][4] - The company has established strategic cooperation with Shanxi Unicom to enhance customer service through advanced information technology [1] Group 2: Green Finance and Economic Transformation - In 2024, the company's green insurance premium income reached 1.575 million, a 33% year-on-year increase, exceeding targets and providing risk protection for Shanxi's green economic transformation [2] - Agricultural insurance business has seen significant growth, with short-term agricultural insurance premiums at 234 million, a 7.26% increase, and rural revitalization insurance premiums exceeding 83 million, a 39.53% increase [2] Group 3: Inclusive Finance and Social Welfare - The company has provided risk protection for 640,000 elderly individuals through elderly insurance, amounting to 9.741 billion in coverage, and has supported 9,027 small and micro enterprises with 52.2 billion in risk protection [2] - The company has also engaged in consumption assistance and cadre support in villages to promote rural revitalization [2] Group 4: Pension Finance and Aging Population - The personal pension business has seen a 151.3% year-on-year increase in customer numbers, with commercial pension insurance premiums at 12.9534 million [3] - The company is participating in a policy trial for long-term care insurance, covering over 80,000 individuals in Linfen City by the end of 2024 [3] Group 5: Digital Finance and Customer Experience - The online rate for personal policy maintenance has increased to 99.66%, with a 52.9% diversion rate for non-manual counter services [3] - The company has optimized its rural network layout by establishing and activating 26 rural service points to enhance service accessibility [3]