How to interpret "Risk Tips for Mainland Residents to Buy Insurance in Hong Kong" by CIRC

This is to the point. Insurance in Hong Kong is governed by the laws of Hong Kong, protected by the laws of Hong Kong and not protected by the laws of the Mainland. The Claims Bureau can handle claims disputes below HK$ 6.5438+0 million free of charge, and cases above HK$ 6.5438+0 million can be litigated or arbitrated. For domestic customers, first, they are unfamiliar with Hong Kong laws, and second, Hong Kong lawyers' fees are relatively expensive.

2. Exchange rate risk

Exchange rate is a double-edged sword, with risks and benefits. The result depends on the long-term game between the US dollar and the RMB.

3. Dividend risk

Theoretically, the part of the non-guaranteed income cannot be cashed by the insurance company, and there are risks. But in fact, insurance companies pay great attention to credibility. We saw that a big company in Hong Kong bought a small company in Hong Kong a few years ago. The expected return promised by this small company to its customers is not guaranteed, with an annualized rate of 65,438+00%. Five years after the acquisition, the company that took over still pays an annual dividend of 65,438+00%.

Hong Kong's dividends are not guaranteed, but insurance companies send customers dividend reports every year to check the difference between the actual value and the expected value, and publish dividend data of different products in different time periods in official website. Judging from the published data, most years are 100% or slightly higher, and only those years that encounter global economic crisis will be lower than expected.

The domestic plan is completely different from the dividend notice. They only tell customers the dividends and accumulated dividends of the year. The CIRC can learn from Hong Kong in this respect and require domestic insurance companies to conduct a dividend data audit.

4. Surrender risk

The cash value of surrender in the first two years of insurance in Hong Kong is basically zero, and the surrender premium in the first two years of insurance in China is about 20% and 40% of the paid premium respectively, which is really better than that in Hong Kong. On the other hand, to buy insurance is to get protection, why should we surrender for a short time? It's important to think carefully before buying. Don't buy without thinking clearly.

5. Clause risk

Traditional Chinese characters and traditional Chinese characters in Hong Kong are really different from those in China. No matter whether you apply for domestic insurance or Hong Kong insurance, you should read the terms carefully, especially the insurance liability and exclusion liability. The Mandarin sales of insurance in Hong Kong are still very good, and most of them are mainland immigrants or mainland students studying in Hong Kong, so there is no obstacle to communication.