A sales agent of China Life Insurance Company Limited is suspected of using counterfeit contracts to defraud clients of over 240,000 yuan. The company stated that while the contracts were fake, the official seal was genuine, classifying the matter as a private lending dispute. Police have indicated that the fraud involves numerous victims and substantial amounts, leading to the agent's detention.
"I am elderly and illiterate. I previously always transferred my insurance premiums to Wang Ying for payment, and there were never any issues," said a Ms. Li from Xuchang, her voice choked with emotion. However, it was this very trust that led her and her friend Ms. Zhang into a meticulously crafted "scam" by the agent, resulting in the loss of over 240,000 yuan intended for their retirement.
Recently, Ms. Zhang and Ms. Li sought assistance, claiming that in 2020, they were persuaded by China Life Insurance agent Wang Ying to purchase so-called "internal wealth management" and "pension insurance" products. It was not until October 2025, when the rebate payments ceased and Wang Ying became unreachable, that they discovered the contracts in their possession were completely fraudulent.
Lured by the high returns of "internal wealth management," Ms. Li introduced her friend into the scheme. According to Ms. Zhang, in 2020, she was introduced to China Life agent Wang Ying through her friend Ms. Li. "Wang Ying recommended an internal wealth management insurance product from China Life, stating that a 20,000 yuan investment would yield 200 yuan in monthly interest," Ms. Zhang recalled. Tempted by this seemingly guaranteed "internal investment," she invested a total of 140,000 yuan in three installments by June 2025.
After experiencing the benefits of the "internal wealth management," Ms. Zhang purchased a 12,000 yuan "pension insurance" policy through Wang Ying in August 2025. Ms. Li, who made the initial introduction, also invested 80,000 yuan in "internal wealth management" and 12,000 yuan in "pension insurance."
The seemingly stable "rebates" suddenly stopped in October 2025. "The rebate was due at the end of September, but Wang Ying never transferred the money. After the National Day holiday, she didn't answer calls or respond to WeChat messages. I realized I couldn't contact her," they explained. Anxious, the two took the "internal wealth management insurance contracts" provided by Wang Ying to the First Renewal and Development Department of China Life Insurance in Xuchang for verification.
The result was devastating. "The staff immediately said the contracts were fake and that Wang Ying never transferred the over 240,000 yuan to the company," they were told. However, Ms. Zhang was puzzled because the staff acknowledged that the official seal of "China Life Insurance Company Limited Henan Branch" on the contract was genuine.
Ms. Li stated that Wang Ying was the assigned agent designated by China Life through a phone call. "The official seal on the insurance contract is real, and the agent was assigned by China Life. How could anyone tell this was a fraud?" Ms. Li told reporters. "Because I trusted China Life, I not only bought it myself but also recommended it to friends around me. Now that this has happened, I feel so guilty I can't sleep at night."
The fraud involves numerous victims and substantial amounts, leading to the agent's detention. In October 2025, the two filed a police report. They learned from the investigating officers that Wang Ying had been detained by public security authorities on suspicion of contract fraud, with many victims and a large amount of money involved.
Ms. Zhang expressed her helplessness: "The police told us that ten to twenty people were defrauded, with amounts ranging from one to two million yuan. We reported it relatively late. Our 220,000 yuan for 'internal wealth management' constitutes contract fraud, while the later two 'pension insurance' policies totaling 24,000 yuan might involve job-related embezzlement."
Beyond the financial loss, the method of payment through the agent also complicated their efforts to seek redress. Ms. Zhang transferred 152,000 yuan to Wang Ying's personal account via WeChat and Alipay, while Ms. Li paid 80,000 yuan entirely in cash, with neither receipts nor invoices. Ms. Li said, "I previously always transferred insurance premiums to Wang Ying for payment. I am elderly and not very literate, so I couldn't understand the contract. When I gave her the money, I was even using an old-fashioned 'senior phone.'"
The insurance company classified it as a private lending matter and has reported it to the company. On May 7, 2026, accompanied by reporters, Ms. Li and Ms. Zhang visited the First Renewal and Development Department of China Life Insurance Company Limited Xuchang Branch. A staff member previously involved in the case responded: "Wang Ying collected the money from the two clients through private lending, not through the insurance company. All the money was directly transferred to Wang Ying's personal bank account."
Regarding the two peculiar documents with "genuine seals but fake contracts," the staff member explained that Wang Ying used contracts under other names with premiums of only a few hundred yuan to impersonate the "internal wealth management" contracts of Ms. Li and Ms. Zhang. "Therefore, the seal on the contract is genuine, but it contains no information about dividends," the staff member clarified.
Regarding Wang Ying's status, the staff member revealed: "To our knowledge, there are three or four other victims who have come to the insurance company to inquire." He also confirmed that although the incident has occurred, "Wang Ying has not yet resigned. The situation has been reported to the company, and she has not been dismissed for now."
Weidu Branch: The suspect has been detained, and cases will be consolidated. How many people were defrauded? What is the total amount involved? To further verify the case details, on May 8, reporters repeatedly called the publicity office of the Weidu Branch of the Xuchang Public Security Bureau, but the office phone remained unanswered.
That same day, an investigating officer from the Weidu Branch told Ms. Zhang: "We are communicating with the procuratorate to find a way to consolidate your case. Your names will appear on the judgment documents once they are issued. Wang Ying is currently detained at the Xuchang City Detention Center."
Lawyer: The insurance company may have management oversights; the victims have apparent negligence. Ms. Li stated that she had previously transferred premiums to Wang Ying's personal account multiple times for payment. Why did the insurance company tacitly allow or condone this "transaction method"? Does China Life Insurance Company bear corresponding compensation liability due to management oversights?
Reporters consulted Liu Fenghui, a lawyer at Beijing Haotian (Zhengzhou) Law Firm, on this matter. She believes: Although agent Wang Ying used a genuine seal to forge contracts, her actions exceeded the normal scope of her duties, involving suspected contract fraud and job-related embezzlement. According to relevant provisions of the Civil Code of the People's Republic of China and the Insurance Law of the People's Republic of China, if the insurance company had obvious management oversights (such as failing to detect abnormal policies promptly or allowing personal collection of payments), it might bear partial fault liability. However, given that the clients directly transferred funds to the agent's personal account, did not request formal invoices, and the purchased "internal wealth management" product clearly deviated from常规 insurance products, the court may determine that the victims bear some degree of negligence. Overall, the insurance company might argue for exemption from liability, but if it cannot prove it fulfilled reasonable supervisory duties, it may still be ordered to bear supplementary compensation liability.
Simultaneously, Lawyer Liu Fenghui also reminded: Any承诺 of insurance or wealth management returns significantly高于 market rates is highly likely to be a scam. Furthermore, when purchasing insurance,务必 use official payment channels, retain正规 invoices, and never transfer funds to an agent's personal account.