China Life Insurance (Group) Co. said on Wednesday that it would allocate 600 yuan (87.60 U.S. dollars) monthly to children who were orphaned in the May 12 earthquake, starting in December, until they reached the age of 18.
No official count of such orphans has been released, but the company said it believed the number was less than 1,000.
Two days after the quake that is known to have killed 69,207 people, China Life said it would pay such a stipend, subject to discussions with civil affairs agencies.
It said the stipends would be adjusted over time to reflect living costs and standards.
A charity fund under China Life, the nation's largest life insurer, will allocate the funds to local civil affairs authorities, which are to pay the orphans. The fund will track and supervise the aid distribution.
(Xinhua News Agency August 7, 2008)
