The Hong Kong insurance market is highly competitive and developed, Hong Kong is one of the world's three major financial centers, but also the financial center of the whole of Asia, Hong Kong insurance is not only sold to the people of Hong Kong, Hong Kong insurance is also sold to the residents of mainland China and other parts of the world. However, according to the relevant laws of Hong Kong, to buy Hong Kong insurance, the policyholder, and full 18 years of age of the insured must come to Hong Kong in person to sign the policy, so that the purchase of Hong Kong insurance is legal and effective.
So many people to buy insurance in Hong Kong, that Hong Kong insurance compared to the mainland insurance in the end what are the advantages? Below we do a detailed comparison of the different features:
Insurance age
Mainland insurance: generally accepted from 0 to 60 years of age, a few types of insurance can be allowed to higher age insurance.
Hong Kong insurance: generally accept 0 to 70 or 75 years of age, special types of insurance can accept higher age.
Amount of insurance
Mainland insurance: Adults are insured, even if the policyholder is worth tens of millions of dollars or hundreds of millions of dollars, it's really difficult to buy a few million yuan of insurance coverage. And minor children, that is to say, children's policies are subject to great restrictions, depending on the location of the city, may only be able to buy up to 50,000 or 100,000 yuan of protection.
Hong Kong insurance: If you can make a proper health report and financial report, there is generally no special restrictions, how much body value is how much protection you can buy, at present, a single policy coverage in more than 1 million U.S. dollars does not count for anything, the amount of coverage in the more than 20 million U.S. dollars is also there. The last adult child, if the parents are also insured relatively high amount of coverage, the minor child to buy a hundreds of thousands of dollars of protection is also available through.
Policy rates
Mainland insurance: Take a 30-year-old male, insuring a whole life insurance policy (participating) on the mainland as an example, with a basic insurance amount of 100,000 yuan, 20 years of premiums, and an annual premium of 2,910 yuan.
Hong Kong insurance: Take a 30-year-old male, insure a certain whole life insurance (participating policy) in Hong Kong as an example, the basic sum insured is 100,000 yuan, 18 years of payment, the annual premium is 1,773 yuan for a male who smokes, and 1,552 yuan for a male who does not smoke.
Critical illness coverage
Mainland insurance: the vast majority of them pay out 30 to 35 items of critical illness coverage.
Hong Kong insurance: the current market mainstream goods can include more than 50 to 60 kinds of major and non-major diseases.
Coverage of insurance claims
Mainland insurance: It is required to submit relevant documents from the Public Security Bureau of China or a hospital of the second class or above. If the accident occurs overseas, then I'm afraid you'll have to make several trips back to China to go through the cumbersome procedures.
Hong Kong insurance: submit the appropriate documents, global claims, more exciting content please pay attention to the Shanghai Chevalier Investment Consulting Limited, regardless of the customer accident in any corner of the world, when applying for claims, as long as the attached application form and the relevant documents can be mailed to the insurance company, do not have to go to Hong Kong to deal with.
Life insurance liability exclusion
Mainland insurance: mainland insurance companies are not responsible for paying the insurance benefit if the insured dies due to one of the following circumstances:
(1) intentional killing or intentional injury of the insured by the policyholder;
(2) intentional crime by the insured or resistance to criminal coercive measures taken in accordance with the law;
(3) intentional killing or intentional injury by the insured; and (4) intentional killing or intentional injury by the insured. p>(3) Suicide of the insured person within 2 years from the date of establishment of this main insurance contract or the date of resumption of contractual validity, unless the insured person is an incapacitated person at the time of the suicide;
(4) The insured person's active use of drugs by inhaling or injecting drugs;
(5) Drunkenness of the insured person, driving without a legally valid driver's license, or driving a motor vehicle without a valid driving permit;
(6) war, military conflict, riot or armed rebellion;
(7) nuclear explosion, nuclear radiation or nuclear pollution.
In the event of the death of the insured person due to the occurrence of the above item 1, this main insurance contract shall be terminated and the mainland insurance company shall refund the cash value of this main insurance contract to the beneficiary.
In the event of the death of the Insured Person caused by the other circumstances mentioned above, this Principal Insurance Contract shall be terminated and the Mainland Insurance Company shall refund the cash value of this Principal Insurance Contract to the Beneficiary.
Hong Kong insurance: If the insured person commits suicide within two years (or "one year" for some policies) after the policy has been in force or reinstated, the Hong Kong insurance company will normally only refund the premiums paid but will not settle the claim.
Underwriting and claims policy
Mainland insurance: easy underwriting, strict claims application.
Hong Kong insurance: Strict underwriting, simple and convenient claims application.
Life insurance non-disputable clauses
Mainland insurance: none
Hong Kong insurance: the vast majority of Hong Kong life insurance policies.
The insurance company will not dispute the validity of the policy if the policy has been in force or reinstated (whichever is later) for more than two years.