1. claim for differences in diseases.
Insurance in Hong Kong has developed early and its system is relatively perfect, and their claims are different. For example, cancer in situ can be settled in Hong Kong, but not in Chinese mainland.
2. Amount claimed for exemption from medical examination
The amount of claims for exemption from medical examination for Hong Kong insurance is very high, reaching more than 2 million RMB, while that for Chinese mainland is only 500,000 RMB.
Disadvantages of Hong Kong's insurance industry
1, disease definition.
The definitions of mild and severe diseases in Chinese mainland are almost all based on the unified standards of trade associations, while insurance companies in Hong Kong define diseases themselves.
In the mainland critical illness insurance clauses, cancer is collectively referred to as malignant tumor, which is an important part of critical illness claims. In this critical illness insurance in Hong Kong, we can see that its coverage of cancer is relatively limited, and many cases of cancer are not covered, including cancer in situ and some mild tumors. If you don't fully study the definition of insurance before buying, it is easy to have claims disputes in the future.
2. This ratio is unstable.
The long-term premium rate of insurance in Hong Kong is unstable. In Chinese mainland, the rate of medical insurance may change, but the rate of long-term insurance is fixed and paid according to the rate agreed at the time of insurance. But in Hong Kong, even for long-term insurance, insurance companies may adjust the policy rates.
In the insurance clause of this hot-selling critical illness insurance, it is clearly stated that "the insurance company has the right to review and adjust the premium of this policy at any time", and it is not stated under what circumstances it will be adjusted. As we all know, long-term insurance usually has a long payment period. If you buy this kind of health insurance, no one knows how much premium you will have to pay in the next few decades. At this point, more fish are still reserved.
3. Purchase cost.
Buying Hong Kong insurance requires my signature to take effect, so mainlanders will definitely go to Hong Kong, which will increase the time cost and expenses. Secondly, medical examination is required for insurance in Hong Kong, and there are more medical examination items than those in Chinese mainland. Many hospitals can't do some items, so we can only choose to go to Hong Kong for medical examination or to an expensive hospital in Chinese mainland. In addition, you need to open an account in a Hong Kong bank, and bank card activation is more troublesome. After activation, the deposit in the card must be converted into US dollars or Hong Kong dollars. If the premium is paid in cash, the insurance company will charge a limited amount of money at one time, and the excess will need to be paid in the Hong Kong bank. (Of course, not all physical examinations are available).
4. Exchange rate fluctuations.
The exchange rate between RMB and Hong Kong dollar is not fixed.
Hong Kong dollars are used to buy insurance products in Hong Kong. For people who buy insurance in Hong Kong and live in the mainland for a long time, the annual premium paid is different because of the unstable exchange rate. In particular, the larger the amount, the greater the gap after different exchange rates, and it is difficult to talk about the issue of "cost performance".
In addition, even if the claim is settled smoothly, the compensation will be made in Hong Kong dollars. If the insured is treated in the mainland, the actual amount will be different under different exchange rates.
For example, suppose you bought a product with an insured amount of HK$ 6,543.8+0 million in Hong Kong and successfully settled the claim. 2065438+September 8, 2007, the highest exchange rate was 0.8294, equivalent to RMB 829,400. On March 5, 20 17, the highest exchange rate was 0.8896, equivalent to RMB 889,600. The difference between the two exchanges is 60 thousand. If the exchange rate fluctuates more, the difference will be even greater.
5. Settlement of disputes.
For settlement disputes, mainland insurance has a "two-year irrefutable" constraint, which guarantees the interests of both the insurer and the insured. However, insurance in Hong Kong is based on the principle of utmost good faith. No matter how many years have passed, as long as the insured is found to have violated this principle, the consequences will be borne by themselves. From this perspective, mainland insurance is still much more tolerant and claims are easier.
As can be seen in this insurance regulation, as long as it is a pre-existing physical illness, if it is not truthfully told when applying for insurance, it will not be settled. For mainland insurance, if you take out insurance in spite of illness, as long as the insurance company does not terminate the contract within two years, even if you are in danger for this reason after two years, the insurance company will still pay.
Since the insurance contract signed in Hong Kong is only subject to the laws of Hong Kong, in case of litigation, mainland customers must go to Hong Kong for legal consultation and litigation. As most mainlanders are not familiar with Hong Kong laws, it will undoubtedly increase the difficulty of litigation and claims.
In Hong Kong, the settlement of lawsuits is very expensive and takes a long time. If there is a dispute over insurance policy settlement, it must be tried by a Hong Kong court, and a Hong Kong lawyer may be invited to bring a lawsuit. This process is complicated, and the legal fees in Hong Kong are higher than those in Chinese mainland.
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