Wednesday, August 16, 2006
The China Insurance Regulatory Commission (CIRC) has passed for the first time a health insurance regulation which is seen as an attempt to clear up the health insurance sector and to defend health insurance policy holders.
Under this new regulation, which CIRC published on its website, endurance benefits must not be incorporated in any medical insurance products and disease insurance products, A survival benefit, generally in monetary terms, means that the policy holder would receive a certain 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 must not be included in any health insurance products barring long-term health insurance products.
The new regulation also stipulates that when insurance companies are selling health policies as an appended product to a chief policy, for example a life policy, the effective duration of the health policy must be at least as long as that of the main policy.
posted by kanth
@ 2:33 AM
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