Profile: China Life Insurance Company Limited (LFC)

China Life Insurance Company Limited is a China-based life insurance company. The Company provides a range of insurance products, including individual life insurance, group life insurance, accident insurance and health insurance products. It also offers accident and short-term health insurance policies to individuals and groups. The Company operates in three business segments: individual life insurance, group life insurance business and accident and health insurance business. As of December 31, 2008, it had 102 million individual and group life insurance policies, annuity contracts and long-term health insurance policies.

Individual Life Insurance

The Company is a provider of individual life insurance and annuity products in China. It offers life insurance and annuity products to individuals, primarily through a distribution force of approximately 716,000 agents operating in approximately 16,000 field offices throughout China, as well as other agencies located at branch offices of banks, banking operations of post offices and other organizations. Its individual life insurance and annuity products consist of whole life and term life insurance, endowment insurance and annuities. The Company offers both non-participating and participating products. There were approximately 63.77 million non-participating policies and 38.79 million participating policies as of December 31, 2008, among which approximately 49.71 million non-participating policies and 32.30 million participating policies are offered to individuals.

The Company offers non-participating whole life and term life insurance products. Non-participating whole life insurance products provide a guaranteed benefit, pre-determined by the contract, upon the death of the insured, in return for the periodic payment of fixed premiums over a pre-determined period. Non-participating term life insurance products provide a guaranteed benefit upon the death of the insured within a specified time period in return for the periodic payment of fixed premiums. Specified coverage periods generally range from 5 to 20 years or expire at specified ages. It also offers participating whole life insurance products, which are whole life insurance policies that also provide a participation feature in the form of dividends. The Company also offers participating and non-participating endowment products.

Group Life Insurance

The Company is a group life insurance company in China, providing group life insurance and annuity products to the employees of many of China’s companies and institutions. It offers group annuity products and group whole life and term life insurance products to enterprises and institutions. In its non-participating group annuities, interest on an annuitant’s deposit is credited to each participating employee’s personal account. The Company offers participating and non-participating life insurance and annuities products to companies and institutions. Its group life insurance business comprises long-term products. It offers group non-participating whole life insurance products and group non-participating term life insurance products. Its group whole life and term life insurance products insure against death and serious disabilities due to accidents and illness.

Accident and Health Insurance

The Company provides accident insurance and health insurance in China. It offers an array of accident insurance products to both individuals and groups. Individual accident insurance products provide a benefit in the event of death or disability of the insured as a result of an accident, or a reimbursement of medical expenses to the insured in connection with an accident. The Company offers a range of individual accident insurance products, such as insurance for students and infants against death and disability resulting from accidental injury and coverage against accidental injury. It also offers products to individuals requiring special protection, such as accidental death and disability insurance for commercial air travel passengers and automobile passengers and drivers. The terms of individual accident insurance products range from a few hours to one year.

It offers a number of group accident insurance products and services to businesses, government agencies and other organizations of various sizes. It also offers group accident products targeted at specific industry groups, such as construction worker related accident insurance to construction companies, and law enforcement personnel accident insurance to various law enforcement agencies. The Company offers an array of short-term health insurance products and services to both individuals and groups, including disease-specific insurance, medical expense insurance and defined benefit insurance. The Company offers short-term health insurance products to both individuals and groups. It classifies its health insurance products as short-term products, having policy terms of less than or up to one year, and long-term products, having policy terms longer than one year. It offers both short-term and long-term defined health benefit plans, medical expense reimbursement plans and disease-specific plans to individuals and groups.

The Company competes with Ping An Insurance Company of China, Ltd. and China Pacific Life Insurance Co. Ltd.