Centennial Life Insurance Company is a scam company. The salesperson deceives people and signs the contract...

Although Centenary Life Insurance Company is not large in scale and not well-known, it was established with the approval of the China Insurance Regulatory Commission and is supervised by the China Banking and Insurance Regulatory Commission. So don’t worry, it is not a scam company.

So, what do we need to pay attention to when we understand insurance companies? Let’s see what experts say: What should we look for when we understand insurance companies?

1. How about 100-year life span?

1. Company strength

Centennial Life was established on June 3, 2009, with its headquarters located in Dalian. It is the first Chinese-funded life insurance legal person institution in Northeast China. The company's registered capital reaches 7.7948 billion yuan, and it has opened 20 provincial branches across the country, with a total of more than 390 branches at all levels. As of now, the company's total assets exceed 200 billion and it has been profitable for 6 consecutive years.

It can be seen from this that Centenary Life’s comprehensive strength is very strong, both in terms of capital and company operating scale.

For those who want to know more about Centennial Life, you can read this review article: What is the strength of Centennial Life? It will be announced soon...

2. Solvency

According to the solvency report of Centennial Life Insurance Co., Ltd. for the first quarter of 2022, its core solvency adequacy rate is 97.11%. The comprehensive solvency adequacy ratio is 136.91%, and the latest two comprehensive risk rating results are both Category B.

It can be seen that its solvency has exceeded the standard line of the China Banking and Insurance Regulatory Commission, indicating that its solvency is up to standard.

2. What should I do if the salesperson deceives me into buying insurance?

If you bought insurance that does not meet your protection needs due to deception or misleading by the salesperson, you can choose to cancel the policy.

1. Surrender within the hesitation period

Under normal circumstances, insurance will have a hesitation period ranging from 10 days, 15 days or 20 days. Cancellation within the hesitation period can basically be completed If the premium is refunded, you will lose up to about 10 yuan in cost of production, and there will be almost no loss.

2. After the hesitation period, the cash value of the policy will be refunded. But if you want to cancel the policy because you were misled by the salesperson, that’s another story.

If the salesperson deliberately conceals, fails to report the customer's health status, signs or fills out health notices on behalf of the customer, or the salesperson exaggerates insurance responsibilities or insurance product benefits, etc., we can file complaints and safeguard rights through the insurance company. , provide feedback through the China Banking and Insurance Regulatory Commission to protect our legitimate rights and interests.

However, in general, the loss of normal surrender after the hesitation period may still be relatively large, so everyone should try not to surrender the policy easily after the hesitation period. What do you need to pay attention to when surrendering an insurance policy? Let’s take a look at what this article says: What details should you pay attention to when surrendering an insurance policy?

Hope to adopt it

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