If you buy Hong Kong insurance, will the RMB appreciate at a loss?

What are the advantages and disadvantages of Hong Kong insurance compared with mainland insurance?

Ganoderma lucidum Uno, your intelligent insurance planner!

Some advantages of Hong Kong insurance over mainland insurance;

1. The premium of insurance products in Hong Kong is relatively cheap, with dividends.

Basically, any insurance in Hong Kong pays dividends, and so does critical illness insurance, and the annual payment is generally 20%-30% cheaper than similar insurance in Chinese mainland.

This is because the payment of insurance products and the protection given are calculated according to the life table of residents. The life table for insurance in Hong Kong is calculated according to the demographic data of Hong Kong. The life expectancy of Hong Kong residents ranks among the highest in the world, comparable to or even exceeding that of Japan.

For the products of mainland insurance companies, the premium calculation is based on the mainland life table. The average life expectancy is much lower than that of Hong Kong, and the mortality rate is also higher than that of Hong Kong. Therefore, the overall life insurance premium rate in Chinese mainland is higher than that in Hongkong.

In addition, the premium also includes other components, such as the difference of the insured amount, management fees and the guaranteed income of life insurance. On the whole, the insurance premium in Hong Kong will eventually be relatively cheap.

2. The amount of exemption from medical examination is high.

For people aged 65,438+08-45, the maximum deductible for medical examination in mainland China is about 700,000 RMB, while the deductible for medical examination in Hong Kong is related to the age of the insured and the level of the agent. The amount of medical examination exemption for clients of the highest level agents can reach 165438+ ten thousand dollars. This is beneficial to people with high budget, relatively simple insurance procedures and high underwriting rate.

However, if the insurance company requires a physical examination, the general physical examination items are more careful, and it is likely that some health problems will be found, which will eventually lead to various possibilities such as increased expenses, partial liability exemption and even refusal to insure.

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3. The definition of some diseases is very broad.

As far as specific diseases are concerned, the terms of insurance in Hong Kong (taking AIA and Prudential, the two most recognized companies, as examples) are indeed relaxed in terms of several diseases involving time judgment.

For example, regarding "paralysis", it takes 180 days for the mainland to confirm that the condition is stable before it can be diagnosed as paralysis. But Hong Kong only needs to meet the standard to be diagnosed. This is not to say that insurance companies in Hong Kong are more reliable than those in the Mainland, but that the terms of the contracts are relatively loose.

4. Allocate overseas assets to spread the risk of RMB depreciation.

This advantage is more obvious in the dividend insurance of savings. If we consider avoiding the risk of RMB depreciation and allocating some overseas assets, such as overseas home ownership, foreign exchange and overseas funds, Hong Kong insurance is also a part of overseas assets. Consider buying a Hong Kong insurance product.

5. Reasonable tax avoidance and debt avoidance.

This advantage is also more obvious in the dividend insurance of savings. If you plan to emigrate overseas, life insurance can be tax-free. In fact, both mainland and Hong Kong insurance policies are acceptable. If you want to withdraw US dollars directly, you can consider Hong Kong insurance. However, it should be noted that the value-added part of the dividend policy is considered as investment income and cannot be exempted from tax.

Ganoderma lucidum Uno, your intelligent insurance planner!

Mainland insurance products have advantages in these aspects:

1. The insurance is convenient and the purchase cost is low.

2065438+On April 22nd, 2006, official website and China Insurance Regulatory Commission issued "Risk Tips for Mainland Residents to Buy Insurance in Hong Kong", requiring mainland residents to go to Hong Kong for insurance and sign relevant insurance contracts.

If you take out a Hong Kong policy in China, it is an illegal "underground policy" and is not protected by mainland laws or Hong Kong laws. Moreover, in case of claims dispute, the insured shall conduct rights protection litigation according to the laws of Hong Kong.

Compared with the mainland, the cost of legal proceedings in Hong Kong is higher, and it may face higher time and expense costs.

Mainland insurance products can be bought at any time if they meet the underwriting requirements, and there is no need to fly to Hong Kong. Round-trip costs to Hong Kong, pass fees and time costs are also factors to be considered.

2. The protection of cancer in situ is more comprehensive.

The mainland's critical illness insurance products for cancer in situ are more comprehensive, generally covering 20% of the insured amount, and the protection effect is more obvious.

Moreover, mild "cancer in situ" in the Mainland includes cancer in any part, while insurance in Hong Kong is basically limited to some parts of the human body, and many other parts such as thyroid cancer (Prudential does not include it, AIA has staged it), pancreas, lymph nodes, gallbladder and so on are not included.

Ganoderma lucidum Uno, your intelligent insurance planner!

3. Pay for minor illnesses separately.

For some mainland insurance products, 20% of the insurance coverage is paid separately for minor illnesses.

For example, a person's critical illness insurance coverage is 500,000, and the minor illness insurance coverage is 500,000 x 20% = 65438+ 10,000. If this person gets a disease on the list of mild symptoms at first, he can get compensation of 654.38+ 10,000 first. If it worsens into a serious illness in the future, you can get another 500 thousand compensation.

Most insurance products in Hong Kong can only pay 80% of the insured amount after paying 20% for minor illnesses.

4. Surrender has cash value.

First of all, we need to be clear that it is not cost-effective to surrender early on a regular basis. However, if there are some special circumstances that really require early surrender, mainland insurance products will have cash value (though not high …), but the cash value of most products in Hong Kong will be zero two years before surrender.

In short, Hong Kong products have their own advantages in premium, dividend and asset allocation, but the mainland insurance market is also constantly improving. Many new products launched by insurance companies do not lose Hong Kong insurance in terms of premium pricing and coverage, while in terms of purchasing insurance in the Mainland, the follow-up payment and claim settlement process is also more convenient.

Ganoderma lucidum Uno, your intelligent insurance planner!