If an insurance company goes bankrupt, there are two ways to buy the insurance:
Transfer to other companies that are willing to accept the merger and reorganization. If there is no insurance company willing to take over, it will be properly arranged, and the state will designate an insurance company to take over, which is generally a very powerful insurance company with state-owned assets to take over. So even if this extreme situation happens, the policy we buy is fine, it's just a different company. In this case, our policy will continue to be in force and the insurance benefits will not be affected.
If the policyholder's insurance contract has not expired at the time of bankruptcy liquidation, the policyholder may declare his claims to the liquidation group and receive compensation from the bankruptcy estate in accordance with the provisions of the insurance contract and the law. However, if the liquidation group finds that there is fraud, malicious collusion, etc., in the insurance contract, or the policyholder has obtained compensation through other means, then the liquidation group may refuse to compensate. In addition, if the policyholder buys an investment insurance product, such as universal insurance, participating insurance, etc., then the funds in his investment account will not belong to the bankruptcy estate of the insurance company, but will be managed by a specialized investment institution. In this case, the policyholder needs to check with the investment institution about the relevant situation and take corresponding measures.
AI Assistant Creation Season Even if the insurance company goes bankrupt, our policy will still have some protection. However, it should be noted that when buying insurance, we should choose an insurance company with a good reputation and sound operation to reduce the risk. At the same time, we can also better protect our rights and interests by understanding the relevant laws, regulations and regulatory policies.