What does it mean to support the elderly with housing?

Housing endowment insurance refers to the agreement between the old man and the insurance company that the old man will mortgage the house to the insurance company, continue to have the right to live in the house and receive a pension until his death; Insurance companies can obtain the right to dispose of mortgaged houses after the death of the elderly, and after giving priority to the payment of endowment insurance premiums, the rest will be handed over to the heirs of the elderly.

legal ground

Article 10 of People's Republic of China (PRC) Insurance Law

An insurance contract is an agreement between the applicant and the insurer on the relationship between insurance rights and obligations. The applicant refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay the insurance premium according to the contract. An insurer refers to an insurance company that has entered into an insurance contract with the applicant and is liable for compensation or payment of insurance benefits according to the contract.

Article 12

When concluding an insurance contract, the applicant for life insurance shall have an insurable interest in the insured. The insured of property insurance shall have an insurable interest in the subject matter insured at the time of the insured accident. Personal insurance is an insurance with human life and body as the subject matter. Property insurance is insurance with property and its related interests as the subject matter. The insured refers to the person whose property or person is protected by the insurance contract and enjoys the right to claim insurance money. The applicant can be the insured. Insurable interest refers to the legally recognized interest of the insured or the insured in the subject matter of insurance.