Core Insights - China Life Insurance has developed inclusive insurance products such as critical illness insurance, long-term care insurance, city-customized commercial health insurance, tax-advantaged health insurance, tax-deferred pension insurance, exclusive commercial pension insurance, and accident insurance to provide diverse and inclusive insurance coverage for the public [1] Group 1 - China Life Insurance has participated in over 200 critical illness insurance projects and more than 140 city-customized commercial health insurance projects [1] - The company has launched its first long-term disability income loss insurance, effectively leveraging its core insurance responsibilities to safeguard the well-being of the public [1] Group 2 - China Life Property & Casualty Insurance has introduced the "Hui Jun Bao" project aimed at providing medical coverage for retired military personnel, offering risk protection to over 18.27 million veterans and their families since 2022, amounting to nearly 61 trillion yuan [1] - The "Hui Gong Bao" project has been launched for frontline workers, providing risk protection exceeding 3.8 trillion yuan to nearly 1.3 million workers and their families nationwide [1]

Core Insights - China Life Group is focusing on inclusive finance, enhancing the diversity, inclusiveness, and accessibility of financial services for key groups such as small and micro enterprises and rural revitalization [2] Group 1: Insurance Products and Services - China Life has developed various inclusive insurance products, including critical illness insurance, long-term care insurance, customized commercial health insurance, tax-advantaged health insurance, tax-deferred pension insurance, exclusive commercial pension insurance, and accident insurance [2] - The company is currently involved in over 200 critical illness insurance projects and more than 140 customized commercial health insurance projects, and has launched its first long-term disability income loss insurance [2] Group 2: Support for Specific Groups - China Life Property & Casualty Insurance has launched the "Hui Jun Bao" project for medical insurance for retired military personnel, providing risk coverage for over 18.27 million retired military personnel and their families, amounting to nearly 61 trillion yuan since 2022 [2] - The "Hui Gong Bao" project targets frontline workers, offering risk coverage exceeding 3.8 trillion yuan for nearly 1.3 million workers and their families [2] Group 3: Support for Small and Micro Enterprises - By the third quarter of 2025, China Life Property & Casualty Insurance has served over 6,000 specialized "little giant" enterprises, handling over 1.2 million claims with total payouts exceeding 6.5 billion yuan [3] - The company has insured over 10 million acres of major crops such as rice, wheat, and corn, providing risk coverage exceeding 100 billion yuan for various risks including disaster, disease, price, yield, and income [3]

Core Insights - The article emphasizes the importance of social insurance as a fundamental pillar for ensuring a secure retirement, especially in the context of an aging population [1][11] - It compares the benefits of social insurance against personal savings, highlighting that relying solely on personal savings may not be sufficient for a comfortable retirement [11] Summary by Sections Social Insurance vs. Personal Savings - The article discusses the dilemma faced by workers like Liu, who must decide whether to contribute to social insurance or save money independently [1] - It notes that while social insurance contributions may seem like a reduction in disposable income, they provide significant future benefits [1][2] Financial Analysis of Contributions - A detailed financial analysis shows that if Liu saves 1500 yuan monthly for 15 years, he would accumulate approximately 284,278 yuan, which may not be enough to cover living expenses in retirement [2][3] - In contrast, contributing to social insurance would result in a total of 302,400 yuan in his pension account after 15 years, significantly enhancing his retirement security [3][4] Pension Calculation - The article outlines the pension calculation formula, indicating that Liu could receive a monthly pension of 3,543 yuan, which would last for his lifetime, compared to the limited duration of personal savings [4][11] - It highlights the annual adjustment mechanism for pensions, which provides additional security against inflation [4][5] Social Insurance Fund Stability - Concerns about the sustainability of the social insurance fund are addressed, with data showing a substantial surplus in the fund, ensuring its ability to meet obligations at least until 2035 [5][8] Additional Benefits of Social Insurance - The article emphasizes that social insurance includes not only pension benefits but also medical and unemployment insurance, which are crucial for financial security [6][11] - It contrasts the risk-sharing nature of social insurance with the individual risk borne by personal savings, particularly in the face of health crises [6][11] Recommendations for Retirement Planning - A multi-pillar approach to retirement planning is recommended, combining social insurance, commercial insurance, and personal savings to achieve a balanced and secure retirement [9][10] - The article suggests that individuals should prioritize social insurance contributions while also considering commercial insurance and investment options to enhance their retirement funds [10][11]