Is it reliable for the mainland to buy insurance in Hong Kong? What if I don't pay?

I am a financial consultant of Prudential Company in Tsim Sha Tsui Harbour City. According to this question, let me briefly introduce why more and more mainlanders buy insurance. Because there are many things to explain, I hope interested readers will read them patiently.

First of all, the insurance coverage in Hong Kong is very wide.

1, terminal illness can be settled. In Prudential critical illness insurance, besides common cancers and more than 50 other common cancers, there is also the option of "terminally ill". The so-called terminal illness refers to a disease that has not been discovered before, but once it is discovered, it can be defined as a major disease, such as SARS in that year. Because in some domestic insurance companies, the list of diseases is not clear about this item, when there are some sudden major diseases, domestic insurance companies can not claim compensation. However, in order to prevent this from happening, the Hong Kong government stipulates that insurance companies practicing in Hong Kong must have this item;

2. Even for other diseases, Hong Kong insurance covers many diseases that domestic companies do not provide claims, such as Kawasaki disease.

3. Like other insurances in the world except Chinese mainland, the insurance purchased here in Hongkong needs to be settled in any country or region in the world (including Chinese mainland), as long as you can provide the diagnosis report of the domestic hospital certified by the company (almost all the hospitals above Grade Three belong to one of the certified hospitals). Take Zhaoqing, a small city in my hometown, for example, the insurance company will provide claims. Insurance in Chinese mainland only accepts claims made in China. To put it simply, if you immigrate in the future, the insurance you bought in China will almost be abolished.

4. The wide insurance coverage is also reflected in the advance payment for cancer in situ. The so-called carcinoma in situ is a tumor that has been found to have the characteristics of malignant tumor but has not invaded other tissues. In the stage of carcinoma in situ, the disease can only be controlled by receiving certain treatment. Therefore, insurance companies in Hong Kong can advance a part of the insured amount (about 20-30%, the specific amount will vary slightly from company to company) for treatment after customers find their cancer in situ. On the other hand, some domestic companies may only apply for compensation in the terminal stage of cancer.

5. The wide coverage is also reflected in the fact that almost all major diseases and medical insurance in Hong Kong are guaranteed for life. Simply put, suppose you have been insured for a serious illness for 20 years, but after 30 years, something goes wrong, and the insurance is still valid. You have always been healthy. When you are 70 or 80 years old, you can get a sum of money to do what you want or give it to your descendants, because critical illness insurance means no insurance, and its yield is higher than that of ordinary bank deposits.

Second, the rate advantage.

In terms of rate advantage, the critical illness insurance rate in Hongkong is generally only 1/2 or 1/3 in China. In addition, the biggest difference between the insurance premium rate in Hong Kong and that in China is that the premium is unchanged and the insured amount will increase with time. For example, Prudential has a simple critical illness insurance policy. When you buy a critical illness insurance for 20 years at the age of 23, you only need to pay 525 RMB per month, and you can enjoy the protection of 67,796 US dollars. When you are 53 years old, the insured amount can reach 104424 USD. When you live safely to the age of 100, this critical illness insurance can be regarded as a life insurance, and the insured amount has risen to $848,927. In other words, if you don't have any serious diseases and live to the age of 100, your child will get $848927. And during your 20-year insurance period, your monthly payment is 525 RMB, which has not changed.

Third, the savings insurance has a high rate of return.

The savings insurance mentioned here is actually dividend-paying life insurance. According to the data of the insurance industry in Hong Kong, the return rate of savings insurance in Hong Kong is mostly around 5% to 10%, and the highest annual cash dividend can reach around 30%, while the interest rates of dividend insurance and universal insurance in the Mainland are only around 4%. As long as the investment channels of mainland insurance funds are not relaxed, the insurance gap between the two places will always exist. Take the dividend model of Prudential Company in the UK as an example. Its products are made of English powder, and the dividends are compounded in the insured amount. A large proportion of insurance funds are invested in long-term bonds, so the long-term income will be higher. Take a one-year-old boy's parental insurance as an example. One year, 500,000 RMB, public funds for five years, and one * * * contributed 2.5 million RMB. Assuming that no cash is received, the account has increased to 654.38+74.94 million at the age of 65, and to 743.76 million at the age of 85, and will increase year by year in the future. In addition, the same plan, assuming that after five years of payment, parents want to get an annual bonus, starting from the sixth year, they can get 65438+ 10,000 yuan, which can ensure that their son is 100 years old. While receiving cash, the account balance will still increase year by year. This is equivalent to spending 2.5 million RMB to buy a house for five years. From the sixth year, you can get an annual rent of 654.38 million yuan, and the house itself is still appreciating.

Fourth, insurance policies in Hong Kong are settled in US dollars or Hong Kong dollars, so insurance in Hong Kong is considered as a part of offshore asset management.

In fact, Hong Kong's insurance competitiveness is indeed much stronger than that of the Mainland. After all, the insurance industry in the mainland has just started, which belongs to the initial stage and there is still a lot of room for development. However, with the past events, Chinese mainland's insurance industry will continue to develop in healthy competition.

To add a case, a customer once asked me why the insurance policy in Hong Kong was completed without showing a medical certificate as long as the amount was not too large. My answer is that insurance outside Hong Kong or the Mainland is more based on mutual trust. As long as you say no, we will believe no. This is the statutory principle of the insurance industry in Hong Kong-the "highest integrity principle". As for what to do if you deliberately hide it ~ I can only say that as long as you can produce evidence that you didn't deliberately hide or we can't provide evidence that you deliberately hide, you have the right to claim compensation ~

For more information about insurance or financial management in Hong Kong, please add me to WeChat for consultation.

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