Lecture record: Everyone goes to Hong Kong to buy insurance. Why?

With the increase of free travel cities, more and more mainland residents go to Hong Kong to buy foreign insurance. According to the data published on the website of the Office of the Commissioner of Insurance of the Hong Kong SAR Government, in the first three quarters of 2006, the new policy premiums purchased by mainland visitors in Hong Kong amounted to HK$ 26,543.8+75 million, accounting for 5.7% of the new policy premiums for personal business (HK$ 38.265 billion) during this period. And this proportion is still rising steadily.

According to industry analysts, mainland residents going to Hong Kong to buy insurance are mainly optimistic about the stable rate of return and perfect regulations of insurance companies in Hong Kong. At the same time, Hong Kong insurance companies have many types of insurance and better services, which is why mainland consumers choose Hong Kong insurance companies.

Benefits of buying insurance in Hong Kong

Truly customer first.

The insurance industry in Hong Kong has a long history. It is the most open insurance market in the world, and its efficient, transparent and strict financial supervision system enjoys a high reputation in the world. Because insurance is basically a long-term plan, at least 10 years, 20 years or even life. During the whole insurance contract period, customers are always in a weak position, while insurance companies are in a strong position. The reason is that, in theory, in the whole policy contract, insurance companies have reason to refuse customers' claims at any time. There is no doubt in the insurance policy in Hong Kong that an insurance company cannot refuse to cover life insurance claims for more than two years, thus limiting the rights of insurance companies and protecting the interests of customers to the maximum extent.

Low rate and high safety.

Life insurance for Hong Kong people is in critical illness insurance, and sometimes the premium rate is only 1/2 to 1/3 in the Mainland. Moreover, the savings life insurance of some insurance companies in Hong Kong mostly provides a yield of 65,438+00% ~ 20%, with cash dividends or fund balances every year, and the dividends are 0% ~ 30%, depending on the company's operating conditions. However, the scheduled interest rate for mainland life insurance is set at 2.5%. The insurance agent of a domestic insurance company in Guangzhou told the author that our products are inferior to overseas insurance policies in terms of yield. Our highest expected yield is between 3% and 5%, while overseas insurance is above 10%, even reaching 20%. In terms of claims, mainland companies are also not optimistic. For example, during the period of 200 1 SARS, the compensation rate of domestic insurance companies to patients was less than 50%, while that of foreign insurance companies was 100%. This contrast obviously prevents potential customers from buying domestic insurance.

Undeniable clause

Regarding protection, there is an indisputable clause in the insurance policy in Hong Kong, which stipulates that an insurance company cannot declare a life insurance policy with a validity period of more than two years invalid for any reason. To put it simply, the time limit for an insurance company to defend against reasons such as concealment, omission and false accusation of the insured is two years. After more than two years, the insurance company shall not refuse to pay compensation on this ground. For example, two years after signing the insurance policy, Mr. Wang suddenly found himself suffering from some insurance disease and died unfortunately. His family wants to file a claim. In mainland China, the insurance company may refuse to pay compensation because the insured concealed his illness at that time, but in Hong Kong, once the dispute period of two years has passed, the non-controversial clause can reject the insurance company's reasons, thus protecting the rights and interests of the insured.

Is it difficult to buy foreign insurance claims?

Many people have some concerns about foreign insurance, mainly considering claims. After all, there is a space gap between Hong Kong and the Mainland, which is not as convenient as insurance claims in the Mainland. Moreover, it is also a question whether insurance companies in Hong Kong recognize medical records in the Mainland. In fact, this kind of worry is understandable.

The business philosophy of strict underwriting and wide claim settlement adopted by Hong Kong insurance companies is simple in claim settlement and high in success rate. Insurance companies in Hong Kong attach great importance to claims, because the quality of claims directly affects the company's image and reputation, as well as customers' confidence in the company.

To this end, an employee of an insurance company told the author that because the Hong Kong insurance industry is not completely at ease with the medical system in the Mainland, the Hong Kong insurance industry does not recognize the medical records of all hospitals in the Mainland. She listed several designated hospitals in Guangzhou, such as Guangdong Provincial People's Hospital, Guangdong Provincial Hospital of Traditional Chinese Medicine, Nanfang Hospital, the First Affiliated Hospital of Sun Yat-sen University and the Second Affiliated Hospital. These hospitals are all Grade A hospitals, which can solve the medical problems of Guangzhou residents in terms of medical level and distribution.

According to the employee, if the insured is sick, you can call the insurance agent first, or you can call the company's customer service center directly and report your number. Later, when you leave the hospital, send the medical record, invoice, discharge summary, claim form (the above four types require originals) and laboratory test form (copies are acceptable) to the insurance company, and the company will write you a check.

This time is about 15 days. Most importantly, as long as the insured's relevant documents are complete, we will never refuse to pay the claim. The employee told the author.

A better way is to use the current online banking policyholders to open an account in a Hong Kong bank, and authorize the insurance company to automatically withdraw the premium from the account every year, and even in the Mainland, the money can be transferred to the Hong Kong account.

Finally, as an insured, if there is a dispute with an insurance company, according to Hong Kong insurance regulations, the lawsuit must be brought in Hong Kong. In this regard, the author consulted Sun Yat-sen University's Master of Law in Legal Procedure. If the insured buys a legal policy, all measures are legal, and it is almost impossible for the insurance company to go to court for its own image. Moreover, the courts in Hong Kong are very fair, and there will never be a human lawsuit, let alone favoring big insurance companies.

At present, major insurance companies in Hong Kong are optimizing their own processes and opening up follow-up services to mainland customers. Many companies also recognize the certificates of general hospitals in the Mainland. Although some notarization and audit are needed when making claims, the purpose is to prevent malicious insurance fraud. For legitimate insurance needs, they follow the principle of strict underwriting and wide claims settlement.

Secondly, in recent years, many companies have liberalized their rates for customers in more than 50 big cities in the mainland, enjoying the same preferential rates as Hong Kong locals, and this trend will continue. At the same time, more and more excellent joint-venture hospitals in the Mainland have been recognized by insurance companies in Hong Kong and other countries, making claims more convenient.

If you know about insurance in Hong Kong, all your concerns about insurance claims in Hong Kong will disappear.

The main reason is the incontestable or incontestable clauses in life insurance and critical illness insurance of Hong Kong insurance. This clause clearly stipulates that insurance companies cannot raise objections or argue about policies that have been in effect for more than two years. Generally speaking, an insurance company cannot refuse to insure a policy that has been in effect for more than two years. With this clause, the insured's protection interests have been guaranteed by law for a long time, so it is also the reassurance of the insured. At present, there is no such clause in mainland insurance policies.

At the same time, the life insurance clauses of Hong Kong insurance have no exclusions or compensation clauses, including death compensation for drunk driving, war, suicide and AIDS, and can be settled. From this point of view, Prudential's life insurance has a wider scope of protection than mainland insurance policies, and the protection interests of customers are greater.

If a claim is unfortunately filed, the insured or beneficiary need not come to Hong Kong to handle the claim in person. As long as the claim documents stipulated by the insurance company are prepared and sent to the company, the claim procedure can be carried out, and usually the claim time is only 5 working days. After the claim is settled, your insurance agent will send you a claim check and cash it at the local bank.

Therefore, some customers said: if you buy insurance in Hong Kong, you will feel at ease, be practical and settle claims more conveniently and quickly.

In addition, in the first half of 20 10, the premiums of new policies purchased by mainland tourists in Hong Kong reached HK$ 2.078 billion (up 68% year-on-year), accounting for 7.3% of the total premiums of new policies of life insurance business in Hong Kong (HK$ 28.4 billion) in the same period.

Among the HK$ 2.078 billion premiums of mainland customers, life insurance premiums were HK$ 654.38+HK$ 57 million (up 73% year-on-year), accounting for 76%; Investment-linked insurance: HK$ 508 million (up 54% year-on-year), accounting for 24%. The above raw data are quoted from the Office of the Commissioner of Insurance of Hong Kong.