China Life Insurance together with other Mainland insurers may have their assets tripled to 5 trillion yuan (625 billion US dollars) by 2010, The Standard reported, citing the China Insurance Regulatory Commission. The insurance premiums will more than double to 1 trillion yuan in the next five years, said the paper, quoted Li Kemu, vice chairman of the regulator, as saying. China Life and rivals are selling more insurance and protection products as its 1.3 billion people have more disposable income and are increasingly turning to private insurers to foot medical and retirement bills amid government cutbacks in welfare benefits. Total premiums rose 14 percent to 493 billion yuan (61.625 billion US dollars) last year. By 2010, insurance penetration, or premiums as a percentage of gross domestic product, will reach 4 percent and insurance density, or premiums per capita, will increase to 750 yuan (93.75 US dollars), said Li.