Many customers have come to ask me, is it safe to buy insurance in Hong Kong? As an insurance practitioner, I want you to have a clearer understanding of insurance in Hong Kong and take this opportunity to tell you what you know.
First of all, I want to tell you frankly that there is no best product, only the product that suits you best. I hope you can rationally choose the products that suit you.
First of all, the "underground insurance policy" is invalid. Will there be such an insurance policy?
If there is, it can only be said that it is really cheated, because Hong Kong insurance requires the insurance company to personally verify the purchase. Once an insurance company is insured, it will definitely be regulated by the laws of Hong Kong.
The following is a detailed explanation of the unsafe problems that everyone is most concerned about.
1, exchange rate issue.
It is true that the RMB has been appreciating for the past seven years, but compared with the recent subtle depreciation changes, it has depreciated to 0.8 a year ago in a short time. If it was insured last year, what is the concept? Do you understand? The RMB may not appreciate unilaterally as expected, otherwise fund managers can close their eyes and make money. In addition to other advantages, if the average premium in Hong Kong is 30-50% cheaper than that in China, and if the insured expects the RMB to depreciate by 22% against the US dollar in the next decade, the insured will still benefit. But the biggest reason for the 22% depreciation of RMB against the US dollar in the past few years is the background. The reason why RMB depreciated by 22% in a few years is that the fixed exchange rate of RMB against the US dollar has become a floating interest rate. However, under the background of floating interest rates, I personally think that the government will agree to devalue by 22% in another ten years, so that China's manufacturing industry will not be exported? The most important thing is that insurance in Hong Kong is divided into ten or twenty years, and exchange rate fluctuations have relatively little impact on income.
2. mainlanders are not protected by law in both places? Disputes are not accepted?
I repeat, that is the so-called "underground insurance policy". Now that the information is developed, I clearly know that I must come to Hong Kong insurance company to verify the purchase in person.
Last year, that is, from May 20 1 20 13, the Hong Kong government accepted non-Hong Kong residents to buy insurance, rather than refusing it. The Hong Kong Government and the China Insurance Regulatory Commission have clearly defined the legality of mainland people's insurance in Hong Kong, which is protected by Hong Kong laws. People from all over the world are welcome to apply for insurance in Hong Kong.
3. Does the definition of declaring death have the function of tax avoidance and debt avoidance in Hong Kong?
Yes, Hong Kong insurance really needs to be missing for seven years before it can be declared dead, which is different from the mainland law that requires missing for two years before it can be declared dead. This provision is caused by different legal bases, one is the common law system and the other is the continental law system. It is a fact that Hong Kong has a sound legal system and strict supervision. Life insurance policies insured in Hong Kong not only have the functions of tax avoidance and debt avoidance, but also have inheritance. Because many people know and are already using this special function of insurance, I don't want to say more.
4. Is it inconvenient to insure services, claim and renew insurance in Hong Kong?
If you apply for insurance in Hong Kong, you have to sign the bill in person to pay the down payment and pay it later. First, you can open an account with Standard Chartered Bank in Hong Kong. Automatic transfer is very convenient, and you can also wire transfer to the account of an insurance company. It's inconvenient to pay by UnionPay automatic transfer in July next year. It is not only quick and convenient to send the insurance company a claim document and a DHL when making a claim (a real claim case is attached). All your account changes can be found on the insurance company's website. Every year, the insurance company will tell you by mail and post the changes in the dividend income of the account, when to pay the premium and so on. How many serious diseases will you lose in your life? In China, the payment is only to change the courier to pick up the goods at home or send the claim documents manually, and other things are not much different. There are relatively few claim documents in Hong Kong.
5. The insurance company in Hong Kong went bankrupt?
Let's start with insurance companies in China. Because of the different systems, foreign countries have a complete market economy, while China has not yet had a complete market economy, but this is a trend. As everyone said, insurance companies in China can't fail. I always think this is a very ambiguous question. Wei, vice chairman of the China Insurance Regulatory Commission, said: The market mechanism has advanced and retreated, and all industries have gone bankrupt. Just because there were no insurance companies closed down in China before doesn't mean there is no future. Article 90 of China's original Insurance Law: If an insurance company has the circumstances stipulated in Article 2 of the Enterprise Bankruptcy Law of the People's Republic of China, with the consent of the the State Council Insurance Regulatory Authority, the insurance company or its creditors may apply to the people's court for reorganization, reconciliation or bankruptcy liquidation according to law; The State Council insurance supervision and administration institution may also apply to the people's court for reorganization or bankruptcy liquidation of the insurance company according to law.
Let me talk about insurance companies in Hong Kong. Insurance companies in Hong Kong have adequate reinsurance arrangements. According to the Insurance Companies Ordinance, an insurance company must have made or will make adequate arrangements to reinsurance the risks of the insurance types it intends to operate.
In addition, an insurance company applying for accreditation must meet other conditions listed in the Accreditation Guidelines [PDF] issued by the Insurance Authority, so as to ensure that the applicant has sufficient financial resources and ability to provide an adequate level of service to the insured. Insurance companies must continue to abide by these conditions after being authorized. The provisions listed in item 1 1 of the guidelines apply to all applicants, regardless of whether they are companies incorporated locally or overseas. Moreover, the Hong Kong government will let another insurance company take over or sell it as a third party, and the government monitoring is very strict.
6. The cash value of the policy in the first three years is zero? Commission problem.
I wonder if this friend has read the planning books of several insurance companies. The cash value of a company that adopts British dividend distribution is really zero in the first two years, but how many years later will it surpass China insurance? Why didn't it mention it? There was cash in the first few years when the British dividend was adopted. If friends compare the plan book, they can see it at a glance. As for the commission, both Hongkong and Chinese mainland have costs. From the published data, we can know that insurance companies are not charities. How can they survive without profits? Employees in the mainland of Hong Kong have to eat. It is essential to maintain good professional ethics and earn reasonable income to motivate employees to work harder to improve their literacy and knowledge. Buying insurance is a lifetime thing. What is the original intention of buying insurance? Never put the cart before the horse.
7. If you buy a serious illness, medical insurance has problems of convenience and cost. There are only 100 designated hospitals, and the number is limited?
First of all, we must distinguish the difference between serious illness and medical treatment. Let's start with critical illness insurance. Critical illness insurance is a kind of life insurance with savings, covering a wider range. As far as our products are concerned, there are at least 68 major serious diseases and early diseases. In addition, the double insurance for critical illness can cover 65,438+005 critical illness and early illness, and can be paid for many times. The same amount of insurance is nearly one-third cheaper than that in the mainland. Natural and man-made disasters can be compensated, with a dividend of 4-6% every year. Generally speaking, some sickness insurance companies will pay the premium plus extra bonus (if any). In good health, you can withdraw retirement expenses when you are old. On the contrary, domestic critical illness insurance basically has eight exemptions: war, military conflict, armed judgment exemption, and nuclear radiation exemption; Drunk driving, unreasonable practical driver's license, etc. There is basically only one in Hong Kong, and compensation can only be paid after one year of suicide.
Let me talk about medical insurance. It is convenient for the company to claim compensation. I don't need to elaborate. According to my friend, there are only one hundred hospitals. I don't know where his data came from. Regardless of other insurance companies, Prudential Insurance Company has 960 designated hospitals above the top three in China. Friends who say such things are not established at all.
I believe that it is only a rare phenomenon that Hong Kong insurance practitioners vilify mainland insurance, and most of them respect it.
The above are friends who have doubts about insurance in Hong Kong. Interested friends can pay attention.