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Insurance is divided into four categories: 1. Life: divided into protection type (left to family after death) and savings type (long-term savings, compound interest is about 6%, used for children’s education fund and adult pension fund); 2. Critical illness insurance:

After unfortunately being diagnosed with a serious illness, such as cancer, stroke, heart disease, a lump sum compensation will be paid to cover medical and living expenses; 3. Accident: physical disability or death due to foreign objects, such as blindness, amputated limbs, etc. 4. Hospitalization:

After being admitted to the hospital for more than six hours, the actual expenses will be reimbursed immediately. The maximum reimbursement for each hospitalization is 100,000. The most basic is critical illness insurance, because if you get cancer, stroke, heart disease, etc., it will be a big blow to a family or yourself.

, will not only affect your ability to work, but also bear the pressure of huge medical expenses. Critical illness insurance can pay out a lump sum of 500,000 or more to cover medical and living expenses after a serious illness is diagnosed.

Domestic critical illness insurance, with the same coverage amount, will be cheaper in Hong Kong; and the domestic coverage amount will not increase incrementally. If you buy it now for 300,000, it will be 300,000 for life. However, major diseases generally occur more frequently in later years. After 30 years, 300,000 will be purchased.

is that useful?

The amount of insurance purchased in Hong Kong will increase with 5% compound interest every year, which can resist the pressure of medical expenses caused by inflation.

In terms of cash value, there is basically no cash value in China, which means that if there is no claim settlement, it is equivalent to giving money to the insurance company; but Hong Kong has a savings function, which will be rolled over at 5% compound interest every year, which is no better than in China.

financial products have low returns.

Equivalent to a savings.