When news hit Chinese social media that actor Wen Zhang had cheated on his (gasp) former-model wife Ma Yili, netizens took to the web to express frustration in their own love lives, because if the beautiful people can’t make it work, then damn it, we’re all doomed. Now, insurers are cashing in on these insecurities.
With divorces on the rise and more failed celebrity marriages in the spotlight (shouts to Wendi and Rupert), insurance companies are scheming business opportunities to offer people a sense of security in their marriages.
People’s Daily reports:
A newly-wed couple in Wuhan, Mr. and Ms Gong, have spent 99,999 yuan (16,119 US dollars)on a marriage insurance called “love you forever”, which was launched by a local insurance company. The couple will receive 131,417 yuan (21,184 US dollars) in return, but only if they remain married to each other throughout the entire five year term of the policy.
The insurance they bought was in fact a combination of life insurance with additional conditions involving a five-year marriage allowance. Therefore according to the company, the insured could be husband-to-be and wife-to-be.
For example, if a couple buys a 30,000 yuan policy for the first year, with 10,000 yuan each year for the second to fourth year and a one-time 39,999 yuan policies for the fifth year, the couple will get 131,417 yuan on production of their ID cards and their marriage certificates.
“The insurance encourages an enduring and lasting marriage; if the couple divorce, the premiums are not refundable,” said an insurance consultant from the company. Marriage insurance won immediate popularity when it was first introduced in February. In the first month we took in premiums of 500 million nationwide.”
Of course, couples considering keeping things running a bit past the five-year mark might want to look elsewhere.
“Marriage insurance in some foreign countries runs for terms of as much as two or three decades,” Wang Ye, a senior consultant in a joint-equity insurance company, said in the report. “The longer a marriage lasts, the higher the return to the couple.”
More proof that marriage is nothing but an ornamented financial agreement. Frankly, the people are right to be worried and we should all be worried (except these two).