This trend has been heaviest in China, where social media has reported infidelities among some top stars.
As news of major celebrity divorces, infidelities, and other relationship-ending occurrences started making its rounds throughout social media sites in China, recently, the number of people who have been looking into marriage insurance has suddenly started to rise.
It looks as though many people are starting to take this relationship news personally and want to protect themselves.
Among the largest reports that have caused marriage insurance to increase in popularity was that Wen Zhang, a major actor in the country, had cheated on his wife Ma Yili, a former model. Insurance companies are now able to cash in on this occurrence because the reaction has been a large one.
This situation has placed the spotlight on the rising divorce rate and the protection marriage insurance provides.
While it doesn’t come as much of a surprise that divorce is a growing trend, it is the failed celebrity marriages that seem to be illustrating the point the most effectively. Insurers haven’t failed to notice this and many in China are using it as a part of their strategy to market and sell their divorce protection products.
According to one report that was published in the People’s Daily newspaper, one newlywed couple – Mr. and Ms. Gong – have spent $16,119 on a policy that has the title “love you forever” A local insurer launched the policy and, as long as the couple remains married to each other for the full term of the policy (5 years), they will receive $21,184 in return.
The coverage itself is a type of combination life insurance that includes a range of additional conditions such as the marriage allowance of five years. According to that company, it could make the insured a husband- or wife-to-be.
That said, for couples who are hoping that their relationship will survive for longer than five years, they are looking into other opportunities. Because of this demand, the number of marriage insurance options in China are also starting to grow, as they want to be able to compete with the offerings of foreign insurers, which can run for terms as long as two or three decades.