China Life Executive Outlines Progress in Commercial Care Insurance Innovation and Life-to-Long-Term-Care Conversion

At the 2026 interim results briefing held on August 28, China Life Insurance Company Limited Vice President Wu Jian detailed the company's advancements in long-term care insurance, highlighting both policy-driven and commercial initiatives.

Since the national pilot program for long-term care insurance began in 2016, China Life has been an active participant, refining its operational management, upgrading information systems, and cultivating professional service teams. The company has developed end-to-end service capabilities covering application intake, professional assessment, benefit payments, service oversight, and fund auditing, positioning itself as a reliable partner for government民生 support.

As of the first half of this year, China Life has been involved in 91 long-term care insurance projects across 23 provinces and 76 cities. On the commercial side, the company leverages its core strengths in product design and risk management, alongside its extensive agency network, to strengthen the supply of commercial care insurance products.

The company has actively rolled out commercial care insurance policies eligible for individual income tax deductions, introducing products such as the Guoshou Huizhong Care Insurance and Guoshou Kangfu Changban Care Insurance. These offerings enable customers to benefit from tax incentives while securing robust long-term care risk protection. Furthermore, China Life continues to drive product innovation by combining cash benefits with care services, and is exploring mechanisms to convert life insurance policies into long-term care coverage. Existing in-force life policies can now be transformed into care protection, precisely addressing the diverse and multi-tiered long-term care needs of the public.

Looking ahead, Wu Jian stated that the company will closely follow national policy directives on long-term care insurance. On one front, it will actively undertake local long-term care insurance administration projects and enhance its professional service capabilities. On the other, it will intensify technology enablement and workforce development to improve refined operations, consistently contributing to the high-quality development of long-term care insurance nationwide.