First of all, it is pertinent to tell you that there is no such thing as the best product, only the most suitable product for you, and I hope you can be sensible enough to choose the right product for you.
First of all, against the "underground policy" is invalid, now there will still exist this kind of policy?
If there is, it can only be said that it is really cheated, because Hong Kong insurance must be the policyholder to go to Hong Kong in person to go to the insurance company to verify the purchase. Once the insurance company company is insured, it will definitely be regulated by Hong Kong law.
The following is a detailed explanation of a few of the most uninsured issues of concern.
1, the exchange rate problem.
The past 7 years the RMB has been appreciating is a fact, but on the contrary, the recent subtle devaluation changes, just a short time to be a year ago devalued to a year ago to 0.8, if it is insured last year, what concept? Understand? RMB may not be as we all expected has been unilateral appreciation, otherwise fund managers are fools can close their eyes can make money. Not to mention other advantages, Hong Kong alone is cheaper than the average domestic premiums 30-50%, if the policyholder expects the RMB to continue to depreciate against the U.S. dollar by 22% in the next ten years, then the policyholder is still making money. But the biggest reason for the 22% depreciation of the RMB against the US dollar over the past few years is actually the background. The reason for the 22% depreciation over the past few years is that the RMB has changed from a fixed exchange rate to a floating rate against the US dollar. But at present is already a floating rate of interest in the background, I personally feel that again so ten years depreciation of 22% of the government will agree to it, the Chinese manufacturing business is not exported? The most important thing is that Hong Kong insurance sub-divided into ten or twenty years to pay, exchange rate fluctuations on the earnings impact is relatively not very large.
2, mainlanders in Hong Kong insurance are not legally protected in both places? The dispute is not admissible?
Repeatedly, that is the so-called "underground policy", now information is developed, clearly know that the investment in his Hong Kong policy, be sure to personally come to Hong Kong insurance companies to verify the purchase.
The Hong Kong government last year, that is, from May 1, 2013, non-Hong Kong residents to buy insurance is also accepted rather than inadmissible. （The Hong Kong government and the OCI have made it clear that mainlanders who take out Hong Kong insurance are legally protected by Hong Kong law and are welcome to take out insurance in Hong Kong for people from all over the world.
3, declared dead definition, in Hong Kong insurance does not have the function of tax avoidance and debt avoidance?
Yes, it is true that Hong Kong insurance policies require 7 years to be missing before a person can be declared dead, which is different from the mainland law that requires 2 years to be missing before a person can be declared dead. This requirement is due to the different legal basis, one is common law system and the other is civil law system. Hong Kong's sound legal system and strict supervision is a fact, life insurance policies in Hong Kong not only have the function of tax avoidance and debt avoidance, but also inheritance. Because many people know and have been in the use of insurance this special function, so do not want to say more.
4, in Hong Kong insurance service, claims, renewal premiums are not convenient?
You insured in Hong Kong to personally go to a single payment of the first premium, the latter payment, one can open an account at the Standard Chartered Bank in Hong Kong for the automatic transfer is very simple,, you can also telegraphic transfer to the insurance company's account, followed by the beginning of July can be used in the UnionPay automatic transfer of premiums, so why not convenient. When you make a claim, you only need to send the claim documents to the insurance company by a DHL courier, which is not only fast but also convenient (another real claim case is attached). All your account changes can be found on the insurance company's website. Every year, the insurance company will inform you by email and postal mail of the changes in your account, such as dividend income, and when you need to pay premiums. How many times in a lifetime will you pay out for a serious illness? In China, it is just a matter of changing the courier to picking up or delivering the claim documents with your bare hands, but there is not much other difference in the payout. In Hong Kong claim documents are still less.
5, Hong Kong insurance companies go out of business?
First of all, the Chinese insurance companies, because the system is different, foreign countries are completely market economy, China is not yet a complete market economy, but it is a trend. As for the Chinese insurance companies can not be said to go out of business. I have always felt that this is a very big ambiguity. Wei Yingning, vice chairman of the CIRC, said: market mechanism has advancement and retreat, every industry has bankruptcy, China has not had insurance company closure, it does not mean that there is no future. China's original insurance law, Article 90: insurance companies have the "Chinese people's **** and the State Enterprise Bankruptcy Law" Article 2 of the circumstances, the State Council Insurance Supervision and Administration agreed, the insurance company or its creditors can apply to the people's court in accordance with the law for reorganization, reconciliation or bankruptcy and liquidation; the State Council Insurance Supervision and Administration can also be in accordance with the people's court application for insurance companies to carry out the reorganization or bankruptcy and liquidation.
Referring to Hong Kong insurance companies, Hong Kong insurance companies have adequate reinsurance arrangements. The Insurance Companies Ordinance stipulates that an insurance company must have, or will have, adequate arrangements to reinsure the risks of the classes of insurance in which it proposes to carry on business.
In addition, an insurance company applying for authorization must meet other conditions set out in the Guidance Notes on Authorization [PDF] issued by the Insurance Authority (IA) to ensure that the applicant has sufficient financial strength and is capable of providing an adequate level of service to the insured. Insurance companies are required to continue to comply with these conditions after authorization. The requirements set out in item 11 of the Guidelines apply to all applicants, irrespective of whether the applicant is a company incorporated locally or overseas. Moreover, the Hong Kong government will allow another insurance company to take over, or to sell in a third party form, which is very strictly monitored by the government.
6. The cash value of the policy is zero for the first three years? Commission issue.
I don't know how many insurance companies this friend has seen a few insurance companies plan book, using the British with-profits company in the first two years is indeed the cash value of zero, but after how many years will be able to exceed China's insurance for why there is no mention of it? The first few years of a company that adopts the British style of dividend payment are all cash, if my friend has compared the plan book, it will be clear at a glance. As for the issue of commission, Hong Kong and mainland China are costs, this look at the public data can be known, the insurance company is not open charity, no profit how to survive? All insurance agents in Hong Kong and mainland China have to make a living, and it is essential to maintain good professional conduct and a reasonable income to motivate insurance agents to work harder to improve their quality and knowledge. Buying insurance is a lifelong endeavor, so don't put the cart before the horse as to what the intent of buying insurance is.
7, purchased a critical illness, health insurance there is a problem of access to health care convenience and cost, designated hospitals are only a hundred, a limited number?
First of all, it is important to distinguish between critical illness and medical treatment, first of all, critical illness insurance, critical illness insurance is a life insurance with savings, the scope of protection is broader, the company's products at least 68 kinds of major illnesses and early illnesses, and other critical illnesses double insurance can be insured for 105 kinds of critical illnesses and early illnesses, can be multiple claims, the same amount of coverage than the mainland is cheaper than the close to three quarters of the mainland, natural and man-made disasters can be compensated for, and even more dividends every year! 4-6% per year is enough to counteract inflation. In general, the insurance company will pay out the insured amount plus additional dividends (if any) in case of illness. If you are in good health, you can withdraw the money for retirement when you are old. On the contrary, the domestic critical illness insurance basically have eight exemptions: war, military conflict, armed rebellion does not pay, nuclear radiation does not pay; drunk driving, unreasonable practical license does not pay and so on. In Hong Kong, there is only one exemption, one year after the suicide.
Then again, medical insurance, the company's claims conveniently do not need to go into detail, against the friend said on the hundred or so hospitals, I do not know where this data from him, regardless of other insurance companies, the Prudential Insurance Company in the country more than 960 designated hospitals in the third, issued this statement of the friend is not even established.
It is believed that Hong Kong's insurance companies are only a few of the poor quality of the phenomenon of denigration of mainland insurance, most of them are very respectful.
These are the friends of Hong Kong insurance, and those who are interested in Hong Kong insurance can pay attention to them.