China Life Insurance Company
China Life Insurance CompanyOleh: fajar imam maulana Pada 2015-12-29 06:37:19
China Life Insurance (Group) Company (LFC) is one of Mainland China's largest state-owned insurance and financial services companies, as well as a key player in the Chinese capital market as an institutional investor. The origin of the company goes back to 1949 when the People's Insurance Company of China (PICC) was formed. Its offshoot PICC (Life) Co. Ltd was created after parting ways with PICC in 1996. PICC (Life) Co Ltd was renamed as China Life Insurance Company in 1999. The China Life Insurance Company was restructured in 2003 as China Life Insurance (Group) Company, which has seven subsidiaries. The businesses are spread across life insurance, pension plans, asset management, property and casualty, investment holdings, and overseas operations.
The company is listed on the New York Stock Exchange, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange, and is the biggest public life insurance company in terms of market capitalization in the world.
Health insurance covers for foreigners
As a foreigner, it is worth to consider an insurance policy that covers emergency medical evacuation, since without this could cost well over US$ 50,000 if needed.
You might also want to consider a provider that includes the services of SOS international. SOS international operates a 24-hour emergency hotline and maintains relationships with more than 150 hospitals in China, which they have approved for treatment of foreigners and military and commercial airlines to arrange a medical evacuation if you need it. If your insurance policy does not include SOS services, you can also buy a personal SOS membership yourself.
Insurance plans do not usually cover cosmetic surgery or alternative medicines, infertility issues, or pre-existing conditions. Also, injuries from extreme sports or activities are not normally covered. When buying a plan, make sure you read the fine print, ask questions, and ensure you understand when and how to pay.
Given that many medical treatments can be obtained at a bargain price in China (at least in the public hospitals), some people decide to ‘save’ money by not buying an insurance policy and instead paying for the treatments themselves if and when necessary. If you decide to go down that route, here’s what you can expect: If you only have some minor ailments in China and are happy with the treatment in a public clinic, you will save a pile of cash. However if you find yourself in a serious medical situation (i.e. you are injured by one of the many traffic accidents) and need specialist treatment or even medical evacuation, you will not get the treatment you need unless you have a large quantity of available cash. It’s up to you to decide.