Wednesday, August 16, 2006
First Health Insurance Rule Passed In China
Source: chinaknowledge.com
The China Insurance Regulatory Commission (CIRC) has passed for the first time a health insurance regulation which is seen as an endeavor to clear up the health insurance division and to defend health insurance policy holders.
Under this new regulation, which CIRC published on its website, survival benefits should not be incorporated in any medical insurance products and disease insurance products, A endurance benefit, typically in monetary terms, means that the policy holder would get a sure amount of compensation, as agreed by both parties at the beginning, if he or she survives the maturity date of the policy.
Also, death benefits should not be integrated in any health insurance products except for long-term health insurance products.
The new regulation also specify that when insurance companies are selling health policies as an appended product to a main policy, for instance a life policy, the effectual duration of the health policy must be at least as long as that of the main policy.
Source: chinaknowledge.com
The China Insurance Regulatory Commission (CIRC) has passed for the first time a health insurance regulation which is seen as an endeavor to clear up the health insurance division and to defend health insurance policy holders.
Under this new regulation, which CIRC published on its website, survival benefits should not be incorporated in any medical insurance products and disease insurance products, A endurance benefit, typically in monetary terms, means that the policy holder would get a sure amount of compensation, as agreed by both parties at the beginning, if he or she survives the maturity date of the policy.
Also, death benefits should not be integrated in any health insurance products except for long-term health insurance products.
The new regulation also specify that when insurance companies are selling health policies as an appended product to a main policy, for instance a life policy, the effectual duration of the health policy must be at least as long as that of the main policy.
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