Chinese couples insure their love

Roses and chocolates may be traditional Valentine's Day gifts but some loved-up boyfriends and girlfriends took the more unusual step of purchasing "love insurance".

Over 15,000 people took out "love insurance" provided by China's most popular e-wallet service provider Alipay on Valentine's Day this year, China Youth Daily reported.

Alipay's policies start at 99 yuan ($14), and go up to 297 yuan ($43) and 495 yuan ($72). Couples who get married between three and 13 years after taking out insurance will receive payouts of 1999 yuan ($291), 5997 yuan ($873), or 9995 yuan ($1,455).

"I bought it without telling my girlfriend, and I hope it would be a surprise for her when we get married three years later," said Yang Hui, who bought Alipay's 495-yuan package on Valentine's Day.

"The money will be enough to make her wedding full of flowers, the kind of wedding which she has always dreamed of," Yang added.

Alipay is not the first company in the country to come up with love insurance. It has been around for two years, and there are not only cash rewards on offer.

China Life, the country's largest insurance company, offers 10,000 roses to those who manage to tie the knot after three years by signing up for their 299-yuan ($43) package (with discounted price 199 yuan for students and active-duty soldiers).

Answern Insurance has also been offering a 399 yuan ($58) plan by rewarding those who get married three years later with a heart-shaped diamond.

Sustaining a relationship for at least three years may not seem to be a daunting requirement, but a report by Huize.com, China's largest third-party insurance service platform, said that 98.39 percent of couples break-up within three years. For the 1.71 percent few who make it, the odds are even slimmer than the success of startup businesses.

"We are living in such a fast-paced society, and most couples I know often get married within one year after they meet each other," 30-year-old Liang Chen said.

He added that the insurance may be more attractive to college students.

"There are so many unknowns in today's world, and I think that's the charm of a relationship. It would be ridiculous if people get married just for the insurance's sake," internet user "bala little princess" commented.