On Valentine’s Day, many people will think of chocolates, teddy bears, or perhaps even an engagement ring when it comes to buying a gift for their significant other – but what about a love insurance policy to help get your partner to say ‘I do’?
That’s exactly what’s happening in China, according to reports that say love insurance is the latest trend to hit the region.
A number of insurers are offering packages that reward couples if they get married within a specified number of years of taking out the policy.
Answern Insurance is selling a love insurance package for 399 yuan (£46), in which policyholders will receive a heart-shaped diamond if they get married within three years, according to a Daily Mail report.
China Life, the country’s leading insurer, also offers a plan costing 299 yuan (£35), which provides policyholders with 10,000 roses if their relationship lasts for three years and they marry within ten.
While some questioned the validity of the policy, a representative for the company appeared to confirm its legitimacy.
“It is a kind of new insurance we introduced that only lives on mobile devices,” a representative of the Beijing bureau of China Life Property & Casualty Insurance Company told Asia Times. “It is adapted to the consuming habits of young people.”
A China Daily report says that another company is shelling out 1,999 yuan (£232) to lovers who purchase a plan for just 99 yuan (£11.50).
The insurance offerings may be a reaction to the continual decline in the number of people getting married in China, which has seen the marriage rate drop 6.3% from 2014 and 9.1% from 2013, according to the Conversation.
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