The risk of mainland residents applying for insurance in Hong Kong is that the insured needs to go to Hong Kong to apply for insurance and sign relevant insurance contracts. If you take out a Hong Kong policy in China, it is an illegal "underground policy" and is not protected by mainland laws or Hong Kong laws.

Insurance for mainland residents in Hong Kong is governed by the laws of Hong Kong. In case of dispute, the insured shall conduct rights protection proceedings in accordance with the laws of Hong Kong. Compared with the mainland, the cost of legal proceedings in Hong Kong is higher, and it may face higher time and expense costs.

In addition to legal proceedings, the insured can also choose to complain about claims-related disputes to the Insurance Claims Complaints Bureau in Hong Kong. However, at present, the compensation limit of the bureau is HK$ 6,543,800+0,000, and the compensation dispute of large-value policies cannot be handled through the decision of the bureau.

Extended data:

1. Insurance policies purchased by mainland residents in Hong Kong are settled in foreign currencies such as Hong Kong dollars and US dollars, and consumers have to bear the foreign currency exchange risks themselves.

Two, mainland residents to buy life insurance and investment return dividend insurance abroad, which belongs to financial and capital transactions, is the current foreign exchange management policy has not been opened, there are certain policy risks.

Three, if you want to pay the premium to buy a long-term life insurance policy, there may be a risk that you can't pay the renewal premium because of the change of foreign exchange payment policy. However, due to the existence of various risks, there are many uncertainties in the policy income.

China Economic Net-Be careful when buying insurance in Hongkong. It is difficult to claim multiple risks in large insurance policies.