For insurance newbies, the most uncertain thing is which insurance company to choose? Which is better, a reputable company or a less reputable one?
Recently, a friend said he was deliberating between two insurance companies - Fosun United and Taiping Life - and couldn't understand which one was better.
Today's article, my sister will specifically talk to you about: how about Fosun United and Taiping Life? Find out which insurance company is stronger? Compare and contrast which company's products have a higher cost-effective?
Before we start reading the article, let's see what we should focus on when making a choice on an insurance company, poke:
What do we really look for when we are looking at insurance companies?
I. What is the strength of Fosun United and Pacific Life companies?
We focus on the strength of the Fosun United and Taiping Life Company this piece, today in-depth exploration.
1. Company background
Fosun United Health Insurance Co. opened on January 19, 2017, with Zeng Mingguang as its legal representative.
The company has a registered capital of CNY500 million and is mainly engaged in health insurance business.
Shareholder information is as follows:
Currently, according to big data statistics, Taiping Life Insurance Co. belongs to the sixth national life insurance company in China.
The company has a long history, dating back to the founding of the Taiping Water and Fire Insurance Company in 1929. In November 2001, the China Taiping Group of Companies launched the name "Taiping Life", once again hosting domestic life insurance business, with the main business scope including medical care, old age pension, children's education, accident insurance and so on, The main business scope includes medical, pension, children's education, accident insurance, etc.
It's hard to tell the difference between the two companies!
Now a little further on the solvency of the company.
2. Solvency
The basic indicator that must be taken into account to measure the financial position of an insurance company is solvency, which is the ability of the insurer to compensate for its debts.
The relevant standards set by the BIS are: core solvency ratio of no less than 50 percent; comprehensive solvency ratio of no less than 100 percent; basically, it is said to have reached the passing line of solvency.
The core solvency ratio, meaning the ratio of core capital to minimum capital, is a measure of the adequacy of an insurer's high-quality capital.
Comprehensive Solvency Ratio: means the ratio of actual capital to minimum capital can go to measure the overall adequacy of the insurance company. We *** with a look at the solvency report on Fosun United in the third quarter of 2022 Oh:
In the solvency report of the 3rd quarter of 2022, Fosun United Health Insurance Co. Ltd. core solvency adequacy ratio of 68.05%, the comprehensive solvency adequacy ratio of 136.01% in the 2nd quarter of 2022, the Risk Composite Rating is rated B.
As you can see, all the indicators of Fosun United Health Insurance Co. perfectly exceeded the standard line of the CBIRC, which is really excellent.
Now let's examine Taiping Life together:
It can be learned that in the solvency report of the 3rd quarter of 2022, the core solvency adequacy ratio of Taiping Life is 103.13%, the comprehensive solvency adequacy ratio is 206.25%, and the risk composite rating of the 2nd quarter of 2022 was rated A.
In short, both Fosun United and Taiping Life are better in terms of both company background and solvency~
So are the respective insurance products of these two companies really cost-effective? The next schoolmate will take you to find out!
Two, Fosun United and Taiping Life products how?
Schoolmates each chose a relatively high degree of critical illness insurance, from the Fosun United and Taiping Life inside the selection of, respectively: Fosun United - Atom 1 and Taiping Life - Taiping Fortune Shunxi, to compare.
Let's take a look at the comparative coverage charts:
Based on the comparative coverage charts, you can see that when we compare the coverage of Tongmu No. 1 and TaiPing Fortune Sunshine, you can clearly feel that Tongmu No. 1's coverage is more abundant.
So, isn't Atom Mu 1 better? The first thing I'd like to do is to give you a test and evaluation based on these points:
1. The rules of enrollment
Atom Mu 1 and Taiping Fortune Shunxian have the same coverage period, which is the same for the whole life, and the same waiting period, which is 90 days.
However, there is less restriction on the age of enrollment for Taiping Fortune Sun Yat-sen, which is from 28 days of birth to 65 years old.
So, in terms of the rules of enrollment, Taiping Fortune Shunxi is slightly better.
As far as an insurance product is concerned, what we need to pay attention to is its coverage, so let's follow the schoolgirl to explore the coverage of these two products!
2. Basic coverage
Atom 1 has included critical illnesses and minor ailments in its coverage, as well as the fact that the insured is diagnosed with a critical illness before the age of 50 and within 15 policy years, and is also paid 100% of the sum assured, which means the insured is able to receive double the amount of coverage. This is really excellent!
While Taiping Fortune Shunxi only gives consumers protection for critical illnesses and minor illnesses, although it also provides additional compensation for critical illnesses, but only 12 kinds of high-cost critical illnesses have this protection.
There is also a lack of a middle-illness protection module for this product.
It is important to understand that there are a number of major illnesses that develop gradually from intermediate illnesses.
Additionally, the cost of treatment for middle-illnesses is not very low, which is a big expense for an average family.
For critical illness insurance coverage, most of the products on the market now have a middle-illness benefit, which allows the insured to receive a sum of money for treatment after being diagnosed with a middle-illness condition, preventing the condition from becoming more serious.
In comparison, Taiping's insurance policy is a bit worse in this regard!
3. Other coverage
Atom 1, in addition to the most basic coverage, there are also special disease coverage, cancer secondary compensation, stroke care, cardiovascular secondary compensation and other coverage, optional death benefit, critical illness special medicine, cancer medical treatment, very rich.
For the policyholder to buy insurance, it is very important to have products with cancer secondary compensation, stroke care, cardiovascular and cerebrovascular secondary compensation.
According to the statistics above, the recurrence and metastasis rates of cancer are not low, and the recurrence or metastasis rate after 5 years of surgery is usually more than 90%. Stroke patients are usually unable to take care of themselves, and the cost of their care can be costly. The company has a death benefit, but it is missing a second benefit for cancer, stroke care, and a second benefit for cardiovascular and cerebrovascular care.
In this comparison, the performance of Alton Mu 1 can really be said to be very good!
All in all, even if the age of enrollment is not as wide as that of Taiping Fortuna, the protection of the insurance is much better than that of Taiping Fortuna!
The pursuit of more comprehensive coverage, more practical insurance friends, I still recommend comparing other products. The school sister organized a lot of value for money, protection thick critical illness insurance, here you can choose to buy Oh:
"Top ten worth buying the popular critical illness insurance roundup!
Third, the school sister summary
In short, as far as the company's background as well as solvency, the Fosun United and Taiping Life are good choices, worthy of everyone's trust.
Tai Ping Life's Tai Ping Fortune Shun Xi Critical Illness Insurance is inferior to Fosun United's Atom 1 Critical Illness Insurance, as you can see after comparing the two.
A friendly reminder: when choosing an insurance product, you need to focus on the product itself, not on the insurance company.
After all, the insurance company is also based on the contract to make claims, the contract has stated that you will be able to get compensation, and not because of different companies and thus indirectly think that the claims will be different.
So, the school sister and you share an article to teach you some ways to recognize the insurance contract, poke:
"Teach you to identify the insurance contract those pits!
Written in the end
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