1, low rate and high guarantee: for the same guarantee, the premium purchased in Hong Kong is only 1/3 or even 1/2 in the Mainland, especially Prudential, which is not only cheap, but also has high expected income. This is also one of the main reasons why mainland residents go to Hong Kong to buy insurance. The reason why the price is so much cheaper than that in the mainland is mainly because the insurance premium in Hong Kong is set according to the standards of developed countries, and the medical system in Hong Kong is sound and the basic insurance premium is very cheap. Coupled with the fierce competition in the insurance market in Hong Kong, the price is relatively cheap.
2. Wider coverage: Hong Kong's guaranteed insurance products usually have wider coverage. Take critical illness insurance as an example, mainland insurance companies only provide more than 30 major diseases. In contrast, Hong Kong's critical illness insurance can cover more than 50 major diseases, and also provide more than 60 kinds of early or non-serious protection such as cancer in situ, with a total coverage time of about 120 minutes.
4. Higher expected return: In addition to protection, the expected return of insurance in Hong Kong is also higher. For mainland residents, buying Hong Kong insurance is a good choice for investment appreciation. Most savings insurance returns in Hong Kong provide a compound annual rate of return of 5%- 10% (calculated in cash value, of course), and sometimes even as high as 20%. In addition, there are cash dividends or compound interest with or without capital preservation every year. In contrast, the predetermined interest rate of life insurance in Chinese mainland has been fixed at 2.5% for a long time, and it was not raised to 3.5% until August 2065438+2003.
4. Humanization of terms: Hong Kong is a legal region, which is particularly humanized in the following three aspects. 1) In the insurance policy, consumers can be provided with an "indisputable" clause, stipulating that Hong Kong insurance companies shall not declare life insurance policies that have been in effect for more than two years "invalid" for any reason. To put it simply, the time limit for an insurance company to defend against reasons such as concealment, omission and false accusation of the insured is two years. After more than two years, the insurance company shall not refuse to pay compensation on this ground. 2) In domestic life insurance, the beneficiary can't get compensation because of the exempted responsibilities and terms, and because the insured didn't or may not intentionally participate in natural disasters, earthquakes, riots, demonstrations and other accidents. However, in Hong Kong, the life insurance policy of the insured has no exemption liability or exemption clause. Insurance will not change because the insured moves, emigrates, changes jobs, etc. Insurance companies only have a time limit for suicide claims, and Hong Kong insurance pays the insured amount. 3) The Hong Kong Insurance Claims Complaints Bureau provides effective free channels for individual policy holders or their beneficiaries to coordinate and resolve claims disputes arising from individual policies with the member companies of the Complaints Bureau. As long as the policy is a member company of the Complaints Bureau, according to the laws of Hong Kong, all policy holders, no matter where they live, can get free services from the Complaints Bureau.
5. The process is simple, and the review is relatively loose: most insurance in Hong Kong mainly provides protection, and risk reinsurance and risk management can be well controlled. Therefore, the insurance process will be much simpler and the review will be more relaxed. On the other hand, people who take out life insurance in Hong Kong for less than HK$ 3 million or critical illness insurance can be exempted from medical examination. If a medical examination is required, the expenses will be paid by the insurance company. If the insurance amount is less than $500,000, you only need to simply declare your financial situation.
6. Protection of offshore assets: Finally, the biggest advantage of Hong Kong insurance is its reasonable asset allocation. Convert RMB assets into US dollar assets or Hong Kong dollar assets through Hong Kong insurance channels. Due to the high confidentiality of insurance companies, high-end customers can enjoy insurance products to safely transfer some assets abroad, and at the same time, they can use asset leverage to enlarge assets. Through cooperation between UL, insurance companies and private banks, you only need to pay $654.38+00,000, and private banks will lend you $654.38+00,000, and then the value of this $2 million can be guaranteed to $654.38+00,000. In addition, the insurance company will guarantee you a dividend every year, and so will the private banks. In this way, the annual dividend and interest income will be close to 90 thousand dollars. As the third largest financial center in the world after London and new york, Hong Kong has powerful insurance companies from all over the world and has made extensive investments in all parts of the world. It has always been the last refuge of the rich, which is what we need to compare.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.