The insurance business is getting better every year, and Union Life has gradually entered our life.
So, in terms of strength, which of the two insurance companies is better? Which is more cost-effective in terms of insurance coverage?
Needless to say, senior sister will give you a test in time!
Before explaining, in order to facilitate everyone to understand the evaluation criteria, this paper combs the evaluation criteria:
"What should we pay attention to when we pay attention to insurance companies? 》
1. Who is stronger, China Life or United Life?
1. Company strength competition
China Life Insurance (Group) Company, hereinafter referred to as China Life Insurance, was established in 1949. It is a central financial enterprise and a state-owned super-large financial and insurance enterprise company.
In the first three quarters of 2022, China Life realized premium income of 554,654.38+0.05 billion yuan. The new single premium17133.8 billion yuan, a year-on-year increase of 6.3%.
Moreover, the company's total sales manpower is 783,000, including 720,000 individual insurance sales manpower. Business development has been steadily advanced, and the scale value continues to lead the industry.
He Zhong Life Insurance Co., Ltd., referred to as "He Zhong Life", was established in 2005 with a registered capital of 4.28 billion yuan.
Up to now, it has developed into a national insurance company with nearly 654.38+million internal and external employees, 27 provincial branches and more than 600 branches, with total assets exceeding10 billion yuan.
Hezhong Life's investment includes Hezhong Property Insurance, Hezhong Assets, Hezhong Younian, Shi Sheng Hezhong and other companies to provide customers with comprehensive services covering insurance, asset management, pension and other fields.
Therefore, China Life Insurance and He Zhong Life Insurance are reliable and good products among the audience, but China Life Insurance Company has been established for a long time, and its capital and hardware facilities are more perfect and more secure.
2. Solvency competition
If you can afford the insured amount agreed in the contract, your solvency will reach the standard.
To obtain solvency, the following three conditions must be met at the same time:
The core solvency adequacy ratio is above 50%;
The comprehensive solvency adequacy ratio is above 100%;
The comprehensive risk rating is above Grade B..
According to the comparison of the information disclosed in the 20021annual information report of the two companies, the risk rating of China Life Insurance in the latest issue is A, while that of He Zhong Life Insurance is C, which means that He Zhong Life Insurance is worse than China Life Insurance.
From the picture below, we can see who has the stronger repayment ability.
Solvency information of China Life in the third quarter of 2022:
Solvency information of Union Life in the third quarter of 2022:
It can be concluded that China Life has high solvency and high cost performance.
These two kinds of insurance are relatively good insurance, so don't worry about the problem of not being able to afford it.
In fact, this senior also compares Xinhua Life Insurance and Taikang Life Insurance with the standards we often encounter. Because there is limited space here, some friends want to know more about the comparison between the two companies. You can go and see the expert's explanation:
"China Life pk United Life, which is stronger, you will know after reading this article! 》
From these two comparisons, we can see that joint life is more prominent. Is China Life really worse than United Life?
Don't jump to conclusions so early!
After all, buying insurance means buying products. We should focus on the product, not the company.
Second, China Life and He Zhong Life's ace products compete!
Senior students chose two companies' ace critical illness insurance-Guo Fushou 202 1(A) of China Life Insurance and Ai Kang 202 1 of He Zhong Life Insurance for comparative analysis.
Let's take a look at the protection comparison chart:
In the following time, Xue Xuechang made a detailed analysis of these two kinds of critical illness insurance from the aspects of insurance rules and protection contents.
1. Insurance rules big pk
The maximum insurance age of China Life Insurance 202 1(A) and Aijian Health Insurance 202 1 is 60, and their maximum payment years are the same, both of which are set at 30 years, which is the best level of critical illness insurance at present.
We can see that the waiting period of China Life Insurance 202 1(A) is 180 days, which is twice as long as the waiting period of 90 days of Ai Health 202 1.
2. The content of the guarantee dispute
Love for health 202 1 covers two basic guarantees: serious illness and mild illness. The protection of traditional Chinese medicine is not within the scope. However, China Life Insurance 202 1(A) covers the protection of three diseases, namely, mild, moderate and severe.
In addition, China Life Insurance 202 1(A) pays 50% and 20% of the insured amount respectively. We should know that some serious illness insurance on the market now pays 60% and 30% of the insured amount for minor illness.
In short, the two products have their own characteristics, and you only need to insure according to your own needs.
Or you can shop around before buying. The senior has made an inventory for you. You can compare:
Ten cheap and excellent critical illness insurance inventory! 》
Third, summary.
From the above summary, we know that China Life Insurance and He Zhong Life Insurance are both good in scale and solvency, but their ace products are not so brilliant.
When buying insurance, don't just look at the apparent strength of the insurance company. The strength of insurance companies is very good and commendable, but their products are not necessarily worth buying.
From the consumer's point of view, whether an insurance product is worth buying, then we are most concerned about whether the product is good or not.
If you don't know how to choose an excellent product that suits you, please feel free to come to Xueba WeChat official account to talk about insurance and ask Xuejie ~
Write it at the end
I am an expert in insurance, focusing on objective, professional and neutral insurance evaluation;
If the above content has not solved your problem, you can also come to the official account of WeChat to learn to bully and say that insurance consulting me;
I give you the most professional advice based on many years of experience in configuring insurance for 10W+ families.
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