In­sur­ance for or Against Mar­riage?

The Economic Times - - The Edit Page -

Since in­sur­ance com­pa­nies are not known to be suck­ers for ro­mance, all those be­sot­ted Chi­nese who have been con­tem­plat­ing buy­ing ‘love in­sur­ance’ — or have done so — should won­der why such an op­tion is be­ing of­fered at all. One com­pany stip­u­lates that if a cou­ple ties the knot be­tween three and13 years af­ter buy­ing a 99 yuan, 297 yuan or 495 yuan pol­icy (with dis­counts for stu­dents and serv­ing sol­diers), there will be a pay­out of 1,999 yuan, 5,997 yuan, and 9,995 yuan, re­spec­tively. A fourth one for 399 yuan of­fers a 0.5 carat heartshaped di­a­mond with that same time-frame caveat. An­other com­pany’s pay­out is 10,000 roses on a cou­ple’s wed­ding day but, once again, if they marry three years af­ter buy­ing the pol­icy. The rea­son for that cu­ri­ous time em­bargo, it seems, is be­cause in­sur­ance ac­tu­ar­ies es­ti­mate that 98.39% of Chi­nese cou­ples ei­ther break up or get hitched be­fore three years. Rather than be­ing gen­uine ini­tia­tives to en­tice com­mit­ment-shy Chi­nese to try mat­ri­mony, in­sur­ance com­pa­nies are ob­vi­ously bet­ting on ex­actly the op­po­site, buoyed by data of ris­ing di­vorce fig­ures and de­clin­ing mar­riage rates there for sev­eral years. That in­sur­ance com­pa­nies in other coun­tries have not jumped on the love band­wagon para­dox­i­cally in­di­cates, there­fore, a less cyn­i­cal out­look for ro­mance and mar­riage else­where!

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