Compared with mainland insurance, what are the advantages of Hong Kong insurance?

Author: Julie

Link: /question/22145274/answer/96250204

Source: Zhihu

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I saw many posts on Zhihu talking about the advantages and disadvantages of Hong Kong insurance. Have you ever noticed that there are completely different answers to the same question, and they may even be completely opposite. Why? Because of the issue of interests. If you are a salesperson in Hong Kong, you will inevitably say that insurance prices in the mainland are expensive, that all insurance companies are scammers, that claims settlement is not as efficient as in Hong Kong, etc. If you are a salesperson from the Mainland, you will turn around and say that claims settlement in Hong Kong is difficult, not protected by law, illegal, etc. For those involved on both sides, I think Hong Kong insurance does have its advantages, but it also has its own disadvantages. Everything has its pros and cons. I compared the critical illness insurance in Hong Kong with the critical illness insurance without dividends in the Mainland (the critical illness insurance with dividends in the Mainland is less cost-effective, so I won’t recommend it here). I also talked about the advantages of Hong Kong’s savings dividend insurance: About Similarities: Types of serious diseases: In terms of types of serious diseases, the mainland and Hong Kong are actually similar. There are basically 50 types of better products. Even more, in fact, the chance of getting it is very small. PS: So it doesn’t mean that the more diseases the better, just enough. The mainland now has the largest number of serious diseases, 77. But in fact, I personally don’t think it makes much sense. There is no need to blindly pursue more types of diseases. An insurance product in the Mainland: An insurance product in Hong Kong: lt;img src="/f5d835ed3b268da5fddb252af7fbc027_b.jpg" data-rawheight="376" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/f5d835ed3b268da5fddb252af7fbc027_r.jpg"gt; Products of an insurance company in Hong Kong: Products of an insurance company in Hong Kong: lt; img src="/d92ba63a86e79270ee622c81ec151647_b.jpg" data-rawheight="543" data-rawwidth="690" class ="origin_image zh-lightbox-thumb" width="690" data-original="/d92ba63a86e79270ee622c81ec151647_r.jpg"gt;lt;img src="/5660fcabf4d53de8ad49de4d5b384f12_b.jpg" data-rawheight="291" -rawwidth="690 " class="origin_image zh-lightbox-thumb" width="690" data-original="/5660fcabf4d53de8ad49de4d5b384f12_r.jpg"gt; The severity of nuclear security. There are posts on the Internet about how strict Hong Kong is, and some people say how strict it is on the mainland. From my actual experience, there is no difference. Even within the same company, there will be differences due to individual differences among underwriters. If you have some health problems and are not particularly reassured, you can invest in several companies at the same time to see which underwriting result is more acceptable to you. Is it easy to settle claims? I have examples of friends who bought insurance in two places, and they all have the experience of smooth claims settlement. Because it involves personal privacy, there is no way to take a photo of the claim notice. If you have any doubts, you can ask your friends around you.

Summary: Generally speaking, as long as there is no fraud when applying for insurance, truthful health notifications, complete materials at the time of accident, and compliance with the definition and requirements of serious illness, the insurance company will usually disburse the money within 15 working days at most (some will be faster). to the customer's bank card. Hong Kong insurance will be a little slower because the materials need to be mailed to Hong Kong. If the insurance company thinks there are doubts about the claim, it will send specialists to the hospital to investigate the medical records, which will take a lot of time. When making insurance claims in Hong Kong, you do not need to go to Hong Kong specifically. Only when signing a new policy, you need to go to Hong Kong in person (children don’t need to go) to sign the policy in order to be protected by Hong Kong law. Regarding the differences: From my own perspective, the advantages of Hong Kong insurance/disadvantages of mainland insurance: 1. The appreciation of the US dollar and the depreciation of the RMB. (Only savings dividend insurance represented by Junsheng/Shengyuweilai is applicable. The money to buy critical illness insurance is only tens of thousands, so appreciation and depreciation are actually meaningless. It mainly depends on claims.) If you think the RMB will depreciate in the future, US dollars If it will appreciate in value. Then purchasing some foreign currency assets to diversify the risk of RMB depreciation will be the biggest motivation for many people. 2. Overseas asset allocation. (Applicable to savings dividend insurance) If you consider overseas asset allocation, such as overseas real estate, foreign exchange, and overseas funds, Hong Kong insurance is also a part of overseas assets. You can consider. 3. Reasonable tax avoidance and debt collection. (Applicable to savings dividend insurance) If you plan to immigrate to the United States, the United States has global taxes, but life insurance policies are tax-free. In fact, both mainland and Hong Kong insurance policies can do this. If you want to get U.S. dollars directly, or are worried that it is still unsafe in China, you can consider Hong Kong insurance. (PS: However, the value-added part of participating policies is considered investment income and is not tax-free. 4. It is relatively cheap and comes with dividends. Basically any insurance in Hong Kong comes with dividends, and critical illness insurance also comes with dividends, and the mainland also has dividends. Compared with critical illness insurance, it is generally cheaper, ranging from RMB 10 to RMB 30. 5. The free medical examination amount is high for people aged 18-45. The maximum free medical examination amount for general critical illness insurance in the Mainland is about RMB 700,000, while that of Hong Kong AIA and Prudential's critical illness insurance is priced at US$500,000 and more than RMB 3 million (for those who are working, US$300,000 for those who are unemployed). It is more advantageous for people with high budgets. The insurance application process is relatively simple and the underwriting rate is high. The general physical examination is more detailed, and some health problems may be discovered, which may result in increased fees, partial liability exemption, or even denial of insurance. However, the workaround in the mainland is, for example, for the same total insurance amount of 3 million, If it can be purchased from several insurance companies in the Mainland, it can be insured at the same time. 6. The definition of certain diseases is relatively loose. As for specific diseases, Hong Kong insurance (take AIA and Prudential, the two most recognized ones) as examples. ) are indeed relatively loose in terms of several disease categories related to time determination. For example, regarding "paralysis", the prevailing terms of mainland insurance companies are as follows: lt;img src="/fe5223b17b2ed427655f60db3e8bc655_b.jpg" data- rawheight="121" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/fe5223b17b2ed427655f60db3e8bc655_r.jpg"gt; The prevailing terms of Hong Kong insurance companies are as follows: lt ;img src="/2ffac3185689724be5093b3fc26115a1_b.jpg" data-rawheight="88" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/2ffac3185689724be5093b3fc26115a1 _r.jpg"gt ; It can be seen that in the Mainland, it takes 180 days to confirm that the condition is stable before a person can be diagnosed with paralysis.

But Hong Kong only needs to meet the standards to be diagnosed. This is the so-called "strict entry and lenient exit" principle of Hong Kong insurance. It is not that Hong Kong insurance companies are more reliable in compensation than those in the mainland, but it is indeed that the contract terms are relatively loose. -------------------------------------------------- -------------------------------------------------- ----------------Advantages of mainland insurance/disadvantages of Hong Kong insurance: 1. The RMB is strong and the US dollar is depreciating. (Applicable to savings dividend insurance) If you think the RMB will be strong, then consider a RMB policy. 2. Easy to purchase and low cost. If the conditions are met, you can buy mainland insurance at any time without having to fly to Hong Kong. The transportation fees, pass processing fees, and time costs to Hong Kong are also factors that many people consider. 3. More comprehensive coverage for early-stage cancer and early-stage malignant tumors. In the past, people often complained that insurance can only pay out if you have a serious illness (such as cancer) and you are dead or about to die. Later, several "early critical illnesses" (called "mild illnesses" in the mainland) were added, which can be simply understood as the early stages of serious illnesses, such as carcinoma in situ (early stages of cancer). As long as you get a disease on the mild illness list, you can generally pay the insured amount 20, the effect of this protection is more obvious. In the Mainland, "carcinoma in situ" in mild cases includes cancers in any part: rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/140a0cc03f7de4a3898d044fe893e6a2_r.jpg"gt;lt;img src="/a835a71453e23ca38078ba3c22d33eb7_b.jpg" data -rawheight="106" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/a835a71453e23ca38078ba3c22d33eb7_r.jpg"gt; However, insurance in Hong Kong is basically limited to certain parts of the human body, lt; img src="/a02e495d148b8c4d4a3e5c1f7ae2135b_b.jpg" data-rawheight="35" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width="690" data-original="/a02e495d148b8c4d4a3e5c1f7ae213 5b_r.jpg"gt; However, other parts such as thyroid cancer (not covered by Prudential, but staged by AIA), pancreas, lymph, gallbladder, etc. are also not covered. 4. For mild cases, an extra 20 will be given. In the better mainland plans, an extra 20 will be given for mild cases. For example, if a person's serious illness insurance amount is 500,000 yuan, the minor illness insurance amount is 500,000 x 20 = 100,000 yuan. If the person initially suffers from a disease on the minor illness list, he can first receive a compensation of 100,000 yuan. . If the condition worsens to the point of a serious illness, you can get another 500,000 yuan in compensation. For patients, it is of great significance to get compensation in the early stage. There is no need to borrow money or crowdfund for help. In Hong Kong, if the disease is minor, the compensation will be paid. After 20, the maximum insured amount can only be 80.

(AXA's products require an additional fee) 5. More complete and more user-friendly exemptions. Mainland China's cost-effective products can provide triple exemptions for minor illness, critical illness, and death for the policy holder/insured, which is quite impressive! For example, the mother (the policyholder) buys a critical illness insurance for 500,000 yuan for her newborn child (the insured), and the payment period is 20 years. A better product can stipulate that as long as the child suffers from the disease specified in the contract, regardless of mild illness, serious illness, or death, even if the child becomes ill in the first year (the waiting period has passed), the fees for the next 19 years will not need to be paid. To give another example, in the same situation, if the mother suffers from a disease stipulated in the contract, whether it is mild, serious, or dead, even if the mother is ill in the first year (after the waiting period), the child’s expenses for the next 19 years will not need to be reimbursed. Upon payment, all guarantees will continue to be valid. This means that parents can provide their children with the protection they deserve no matter what the circumstances. (The picture below shows the additional policyholder exemption for mainland insurance)lt;img src="/273ae18f43b8bca10ce45fbff87bd3b1_b.jpg" data-rawheight="300" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width=" 690" data-original="/273ae18f43b8bca10ce45fbff87bd3b1_r.jpg"gt; In Hong Kong: Basically, the remaining premiums can only be waived for children when the policyholder dies or becomes totally disabled. (The picture below shows an insurance parent in Hong Kong insuring their children as an example)lt;img src="/c555f0f167ac1510dc2c1909ce72fdd8_b.jpg" data-rawheight="92" data-rawwidth="690" class="origin_image zh-lightbox-thumb" width= "690" data-original="/c555f0f167ac1510dc2c1909ce72fdd8_r.jpg"gt; 6. There is no distinction between smokers and non-smokers. Although Hong Kong critical illness dividend insurance is cheap, if you smoke, you will be charged an additional fee of about 15. In that case, it would be very uneconomical. Even if you quit smoking in the future, you must go to a designated hospital in Hong Kong for a nicotine test at least one year later. After passing the test, the rate will be reduced according to the rate one year later. There is currently no such distinction in the Mainland, which is undoubtedly very beneficial to smokers. Take a 33-year-old male who smokes and takes out a critical illness insurance policy in Hong Kong as an example. The premium is US$3,132 (approximately RMB 20,000) and the payment period is 18 years. If the policy is for life, the insured amount is only US$97,000 (approximately RMB 615,000) with dividends. But under the same circumstances, better products from the mainland can reach an insured amount of 867,000 (without dividends). PS: Can I not tell the truth about smoking? Can't! Don't take any chances. In the event of an accident in the future, Hong Kong insurance companies can require relevant tests. If concealment is found, they may be determined to be fraudulent and directly deny compensation. If there is no specific regional preference and the USD/RMB exchange rate is not taken into account, as far as the product itself is concerned, the comparison is as follows: lt; img src="/5387807f32c1cfc690310e6c9b5f5e05_b.jpg" data-rawheight="218" data-rawwidth="690" class ="origin_image zh-lightbox-thumb" width="690" data-original="/5387807f32c1cfc690310e6c9b5f5e05_r.jpg"gt; Note: Different products will have different differences. For example, if conditions permit, an additional 50% of the insured amount will be paid, etc. , these require case-by-case comparison. This article will not discuss it yet. Summary: You can take a look at the above analysis to see which side you prefer, and choose whichever side you prefer.

If you want to fully spread the risk, you can buy a little insurance on both sides. Published on 2016-04-2115685 Comments Sharing Favorites Thanks for closing Xu Mingliang’s public account: To survive in danger and do a little insurance science popularization work 98 people agreed with this answer and 29 answers, except for the brother who I liked, basically all It's nonsense. Of course, insurance agents talk too much nonsense. Are Hong Kong insurance premiums lower? It’s nonsense, and it’s even more ridiculous to compare Hong Kong’s friendly countries with mainland friendly countries. Who can’t do Tian Ji’s horse racing? I have compared two products from Huaxia, Tongfang Global and Zhongyi, with Prudential Critical Illness Lifetime Insurance and AIA Jin Tai An Insurance. The conclusion is that they are similar, and China's rates are even lower, especially for smokers. Who gave you the courage to say that Hong Kong insurance premiums are 30 cheaper? Does Hong Kong have more comprehensive protection? There are 56 kinds of diseases in Kangcai, 54 serious diseases, 35 minor diseases and 4 children's diseases in Thailand, 69 critical diseases, and the latest model in China, there are 77 serious diseases and 33 minor diseases, and the mild diseases in mainland China In case of disease, it is basically an additional compensation. Hong Kong provides an advance payment. Who has more comprehensive protection? Huaxia’s latest product can pay an additional 5 times for minor illnesses, and comes with a waiver for all subsequent premiums. Hong Kong insurance has its own advantages. For example, Prudential’s historical dividends are relatively impressive, and Metropolitan’s term life insurance is cost-effective. However, in order to do marketing on Zhihu, some Hong Kong agents do not hesitate to use the rhetoric of a few years ago to make nonsense. It is really infuriating to want to make big news and criticize Continental Insurance.