If others depend on your income, prioritize term life insurance for the earner

Roughly hundreds to thousands of renminbi yearly in China, depending on age, coverage and term—an author estimate without official data. Allow half an hour for truthful health disclosure.

Chinese rules define life insurance as cover based on lifespan, including term, whole-life and endowment products. Term life pays on death during a fixed term; whole-life continues for life. Accident insurance pays only for death or disability caused by an accident and does not substitute for life cover when illness causes death. A death-benefit contract requires the insured's consent and agreement to the sum insured or is invalid. Parents buying for minor children are excepted from that consent rule, but total child-death benefits are capped by the regulator. Typical sums are in the hundreds of thousands of renminbi, hence a large benefit rating. No official coverage formula is cited; the author's estimate adds outstanding mortgage, costs until children reach adulthood and several years of household expenses.

Grade C: official sources provide definitions and limits; prioritizing adults is an inference from whose lost income would destabilize the household. A child's death does not remove an income, whereas a breadwinner's death leaves mortgage and childcare costs. With limited funds, the source prioritizes the earner's term life and one-year medical cover before children's medical cover. See truthful disclosure and guaranteed renewal. Beneficiaries are principally your spouse and children, the book's second priority group.

China Insurance Regulatory Commission (2011). Measures for Administration of Personal Insurers' Policy Terms and Premium Rates, Order No. 3, Articles 8 and 12. http://www.gov.cn/gongbao/content/2012/content_2163594.htm ; NPC Standing Committee of China (2015 revision). Insurance Law, Articles 33 and 34. https://flk.npc.gov.cn/detail?id=2c909fdd678bf17901678bf7c4060811