1.Who can purchase insurance for minors?  Why the death benefit is limited for minors?
China's "Insurance Law" stipulates that “No insurance applicant shall take out any personal insurance in which insurance money shall be paid conditioned upon the death of the insurant for a person without the civil conduct capacity, and no insurer shall underwrite such insurance. Parents who take out personal insurance for their underage children shall not be subject to the preceding paragraph. However, the total insurance money paid for the death of the insurant shall not exceed the limit as prescribed by the insurance regulatory body under the State Council.”
To limit the amount of death benefit insurance is mainly to protect the rights and interests of minors and prevent moral hazard; the same time, from the whole family point of view, parents are the main financial source and pillar of the family, parents as the insured person to purchase insurance, can provide the whole family a more comprehensive insurance cover.
2.The things you need to pay attention to when purchasing of participating insurance products
 If an insurance applicant choose to purchase participating insurance products, insurance, insurance applicant should be aware of dividends available for distribution to policyholders is uncertain, there is no fixed percentage.  Dividends level depends primarily on the level of actual operating results of insurance companies.  If the actual operating results better than expected, the insurance company will allocated part of the surplus to policyholders.  If the actual operating results worse than expected, the insurance company may not have a surplus distribution.  Do not unilaterally compare the participating insurance products with other financial products (such as bonds, bank deposits, etc.).
3. The things you need to pay attention to when purchasing of universal life insurance products.
If an insurance applicant choose to purchase universal life insurance products, the insurance applicant should learn more about the cost deductions of universal life insurance, including the initial costs, the premiums of death risk, policy management fees, administrations, surrender charges, etc., the return on investment of universal insurance products is uncertainty, the policyholder has to bear part of the investment risk; the future earnings estimates in product introduction or insurance benefits estimate book is purely descriptive, the return on investment above the minimum guaranteed interest rate is uncertain.
4.What is an application form?
Insurance application form is a written offer from insurance applicant to an insurance company for entering into an insurance contract.
5.What is the insurance policy?
The insurance policy is issued by an insurance company after underwriting which record the amount of insurance, the amount of premium etc. specific information.
6.What is the insurance terms and conditions?
The insurance terms and conditions is the detailed records of the rights and obligations of the parties in the insurance contract, specifically including insurance liability, liability exception, premium, apply for insurance benefit, cancel of contract, handle of dispute and so on.
7.What is an endorsement (or annotation)?
Endorsement (or annotation) is the supplemental agreement when contracting parties change the contents the contract, normally attached to the original contract.
8.What is the cooling off period? How to calculate surrender cost in cooling off period?
Under normal circumstances, long-term personal insurance products do not have cooling off period.  Cooling off period is the period of 10 days from received the policy and signed for.  During this time, policyholder can carefully consider the suitability of the products purchased.  If the products do not match the demand for insurance, policyholder can cancel the contract, the insurance company will deduct no more than 10 yuan nominal fee and refund the premium paid.  Policyholder cancel the contract during the cooling off period, in accordance with the contract, the insurance company will not bear the liability for the incidents occurred during the cooling off period.
9.After the cooling off period, can policyholder surrender half-way?
After the cooling off period, within the validity period of the insurance contract, policyholder may cancel the insurance contract (that is, "Surrender").  After canceled  the insurance contracts, insurance company will pay the surrender payments to the policyholder in accordance with the contract.
10.How surrender effect policyholders?
First, surrender makes consumers lose their existing insurance coverage.
Second, with the insured grew older, consumers who will re-purchase the similar insurance coverage, in general, the rates and underwriting requirements will increase.
Third, after cooling off period, the insurance company will charge surrender fees according to the contract, consumers will have a loss.
11. Why the insurance applicant and insured are required to sign on the insurance contract？
Require by the “Insurance Law”： If the insurant agrees that the insurance applicant enters into an insurance contract for the insurant, the insurant applicant shall be deemed to have an insurable interest in the insurant. When entering into an insurance contract, the insurance applicant and insured shall tell the truth. Where an insurance contract takes death as the condition for payment of insurance money, and the insurant has not consented thereto and recognized the insured amount, the contract shall be null and void. All above have been seen in the insurance contract through the insurance applicant and insured’s signature.
12. Which kind of bank account could be used when insure？
The bank account use for payment and refund can only be hold by insurance applicant him/herself.
13. Can insured be changed? Why?
In the individual life insurance business, the insured can not change, because each one of the insured person is a separate, unique subject matter of insurance. The company insurance according to the insured’s particular age, sex, physical condition, etc., so the subject of life insurance contracts can not be changed.