How to deal with the insurance policy in hand after going abroad

Many people who have or will go abroad to settle, study and work often encounter a headache, and they don't know how to deal with many insurances on hand---calling an agent, some When it comes to being invalid abroad, it is better to surrender the insurance; some say that it can continue to be effective, but it is very troublesome to settle claims. For those who go abroad, how should they deal with these insurances in their hands?

Accidental Injury Insurance: You may wish to continue to hold it.

If you purchased accidental injury insurance before going abroad, of course you can continue to hold it.

Accident insurance is generally a one-year short-term insurance. When the insured dies or becomes disabled, the insurance company pays the insurance money, so even if you go abroad, you can continue to enjoy the protection of this type of insurance, and then wait until the insurance period expires. The validity of the policy ends naturally. Moreover, insurance companies such as Zhongyi and Ping An have long-term cooperative relationships with global rescue organizations, and their accident insurance customers usually get a global emergency rescue card. Such value-added services will become more valuable after going abroad.

However, if you plan to work or live in a foreign country for a long time, it is best to inform the insurance company in advance. Because the countries you go to have different risk factors, for example, in the Middle East, where riots and wars often occur, insurance companies may increase premiums or even refuse insurance, and generally do not provide emergency rescue services in these countries and regions. If you go to such a country without prior notice, it is very likely to have an adverse impact on the smooth settlement of claims in the future.

Medical health insurance: It is generally advisable to surrender the insurance

If you have purchased medical and health insurance (including medical expense reimbursement insurance, medical allowance insurance and critical illness insurance) before going abroad, you can surrender the insurance or take some measures depending on the situation. convert. what about this?

Medical and health insurance covers medical treatment and other conditions, and is generally directly linked to local treatment conditions. However, due to the incompatibility of domestic and foreign medical methods, it is very difficult to settle medical insurance claims.

For example, medical allowance insurance generally chooses a subsidy amount of 40~200 yuan a day, and high-end customers can only choose a subsidy amount of up to 500 yuan per day. However, compared with the expensive hospitalization expenses abroad, the subsidy of tens of yuan and hundreds of yuan per day does not play much role at all. Therefore, it is recommended that you may wish to surrender such medical insurance when you go abroad, and switch to relevant insurance in the local area to enhance the protection function.

For example, in the critical illness insurance clause, the qualifications of diagnosis and treatment hospitals (generally second-level or above general hospitals and specialized hospitals are stipulated, but the qualification system of foreign hospitals is completely different from that of domestic ones), judgment criteria (the The definition of the standard is very detailed), and the payment conditions are strictly stipulated. If unfortunately you get a major disease abroad, whether the qualifications of the diagnosis hospital meet the regulations, and whether the content of the diagnosis meets the judgment standards for domestic major disease insurance, etc., will be greatly affected. difference, the insured may not be paid. Even if a claim can be settled, the relevant medical certificate, translation of medical expenses, notarization, etc. are expensive, and may be higher than the insurance premium.

Medical expense reimbursement insurance also has the problem of level restrictions on treatment hospitals. It is difficult and cumbersome to settle claims in China if you travel abroad. For people who plan to live and work abroad for a longer period of time, it is more appropriate to purchase insurance locally.

Of course, some large foreign insurance companies, such as AIA and Zhonghong, are sometimes able to provide extended services more conveniently due to their affiliated foreign companies. For example, domestic medical insurance can be converted into foreign insurance to reduce surrenders. or can review the claims materials through its foreign brother company, saving the trouble of translating and submitting materials. If you have such a policy in hand, you can ask beforehand.

Saving-type life insurance: To prevent losses and maintain it

If you have already purchased savings-type life insurance such as endowment insurance, endowment insurance, and whole-life insurance before going abroad, it is generally recommended to continue to hold it.

Because the above three types of insurance are all long-term savings insurance, most of the five-year or even ten-year premiums paid in the early stage are used for the insurance company's insurance costs. Savings accumulation section. Therefore, if this type of insurance is surrendered in the early stage, the loss will be very large. Under normal circumstances, if you surrender your insurance within two years, you can only get back 20% to 30% of the paid premiums, and you are not even allowed to surrender your insurance. Premium. So don't give up easily.

Moreover, the collection of such insurance benefits is very simple. Endowment insurance and endowment insurance generally wait until the agreed age. For example, if you are 55 or 60 years old, you can receive insurance benefits on an annual or monthly basis. The pension is transferred to the bank account designated by the insured on time; the whole life insurance is based on the death or disability of the insured. It's easier to find out if you're abroad.

It should be reminded that if the payment period of these savings insurances does not end, the policyholders need to pay attention to paying the premiums regularly and on time, otherwise they may face the embarrassment of the suspension of the policy effectiveness. If the opportunity for reinstatement is missed, the policy may also lapse. In this regard, since the insurance company's payment reminder and other services cannot be extended to foreign countries, the insured may entrust relatives in China to help pay the premiums on a regular basis, and then repay the relatives; or remit the premiums to the insurance company's account on time every year on the payment date. .

In addition, pension insurance and endowment insurance have a variety of collection methods, such as annual payment, once every three to five years, one-time payment, etc., before going abroad, you can change the collection method according to your actual situation.

Investment-type insurance: Surrender is above.

If you have purchased various investment-type insurance before going abroad, it is best to choose surrender.

In the past few years, investment-linked insurance, participating insurance, and universal insurance have been purchased wave after wave. Most people buy these insurances because of the benefits of these products, not the protection function. Participating insurance contains a stable income of 2.0%, and the unstable part of the dividend cannot be actively controlled by the insured, so there is no need to pay attention to it after purchasing the participating insurance. However, for flexible insurance such as universal insurance and investment-linked insurance, the policyholder needs to pay attention to the fluctuation of the securities market and the dynamics of their own investment in time, and then make additional premium investment, or adjust the funds of different styles of accounts according to the market situation. To make money through investment-linked insurance and universal insurance, you need to actively pay attention to them, and it is impossible to be indifferent after buying them, so it is more troublesome. Once you work or live abroad, you will have no time to worry about these things. Even if the heart is connected, it will be very energy-intensive. Procedures such as additional investment amount are also troublesome.

In addition, even from the perspective of considering investment income, it is completely possible to surrender these investment-type insurance policies and go abroad to choose related investment products. Generally speaking, the income of mature markets will be higher than that of the emerging domestic market. The market came high.

From the perspective of surrender cost, compared with pension insurance and other savings-type personal insurance that need to deduct high handling fees when surrendering, investment insurance surrender losses are not large. If the participating insurance is surrendered early, the loss will be around 25% in the first two years, and the loss of "principal" will be within 10% after that, and generally there will be no loss of principal after five years. Universal insurance and investment-linked insurance personal accounts have a high degree of freedom in receiving funds. Some companies will deduct a small amount of handling fees when redeeming in advance, while some companies can withdraw completely freely, but it should be noted that these two types of insurance have already been deducted in the initial stage. The initial cost, so when calculating the surrender cost, you should compare the total amount you can get back when you surrender the policy with the total initial investment.

Property insurance: Surrender or transfer the insurance to the receiver

Some people have insured property insurance such as home property insurance and auto insurance. How to deal with these insurances depends on the specific situation.

If the subject matter of insurance such as house and family car has been sold, you can apply to the insurance company to surrender the insurance and get back some remaining premiums. Surrender charges for this type of insurance can be accurate to the number of months. Of course, if the next family who takes over these movable and immovable properties is willing to take over the original, unexpired insurance at the same time, then it is more convenient for you, and you do not need to go to the insurance company to go through the surrender procedures. However, since the name of the insured does not match, although the operation can be directly transferred to the next one who takes over, it is best to go to the insurance company's business department to go through the procedures for changing the name of an insured to ensure that the insurance continues to be valid and will not be generated in the future. trouble.