China's Taikang Life Insurance Co. has won approval from the China Insurance Regulatory Commission to sell a policy specifically insuring people against the financial fall-out from contracting SARS, the Beijing Morning Post reports Tuesday.

People who buy the product, priced at 100 yuan (US$12), will be covered for a year, the report said.

In case policy holders do contract Severe Acute Respiratory Syndrome (SARS), they will receive 100 yuan for every day they are hospitalized, and if they die, their family will get 50,000 yuan, it said.

People over the age of 70 are not covered by the package, the paper added.

With a nationwide death toll of over 200, China has been hit harder by SARS than any other country in the world.

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