Chinese Insurance Company Launches Zero-Worry 996 Passion Work Insurance
Up to 100 Million KRW Compensation for Overwork and Accidental Death
A major Chinese insurance company has sparked controversy by launching an insurance policy exclusively for '996 workers,' allegedly promoting an overwork culture. The 996 work schedule refers to working from 9 a.m. to 9 p.m., six days a week, and this insurance product offers compensation related to death from overwork and other incidents.
On the 29th, local media including Xiaoxiang Morning Herald reported on Ping An Insurance's recently introduced '996 Passionate Work Worry-Free Insurance.' This product is characterized by providing compensation related to death from overwork or accidents, with an annual premium starting at 18 yuan (approximately 3,200 KRW). If the insured dies due to overwork or an accident, compensation can be up to 600,000 yuan (about 10.7 million KRW).
The photo is not related to the specific content of the article. Late at night, the Yeouido stock market is brightly lit.
The advertisement released by the insurer features the phrase, "Not afraid of working late. Insure yourself for your dream of working until late at night," alongside a cartoon depicting an office worker working in front of a computer past 10 p.m. An insurance planner who saw this ad commented, "While coverage for sudden death or accidents is common, this advertisement prominently promotes an unreasonable overtime system like 996, which made consumers uncomfortable." In response, a Ping An Insurance customer service representative explained, "This product was launched in cooperation with other insurers and is not currently sold on our platform." It is designed as a group insurance product for companies rather than individual subscriptions, providing coverage for sudden death and medical accidents with an annual premium of 3,500 yuan (about 620,000 KRW) per 10 employees.
The Chinese government declared the '996 work schedule' illegal in 2021, but it has been difficult to eradicate. Last year, Chinese workers recorded the longest average weekly working hours in 20 years. According to data released by the National Bureau of Statistics of China in May last year, workers’ average weekly working hours in April were 48.8 hours, the longest since weekly working hours were first recorded in 2003. This exceeds the Labor Contract Law’s regulation guaranteeing 40 hours per week (8 hours per day, 5 days a week) by 8.8 hours, which means workers effectively worked 9.76 hours per day under a 5-day workweek calculation.
Especially in the information technology (IT) industry and startups, the '996 work system' is a common practice, leading to continuous cases of death from overwork. In response, Dong Mingzhu, chairman of Gree Electric Appliances?the largest air conditioner manufacturer in China and a representative of the National People's Congress?strongly criticized the 996 work system at the 2022 Two Sessions (National People's Congress and Chinese People's Political Consultative Conference), stating, "Prosecutors should file public interest lawsuits against companies that force workers to endure excessive labor on behalf of the overworked employees." Following the controversy, some major IT companies such as Weixin announced the introduction of the '1065 work system' (10 a.m. to 6 p.m., 5 days a week), but most companies reportedly still maintain the 996 work schedule.
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