Which is better, China Life Insurance or Taikang Life Insurance?

Huaxia Life Insurance Co., Ltd. **** (hereinafter referred to as Huaxia Insurance) was approved by the China Banking and Insurance Regulatory Commission in December 2006.

Approved to be established, headquartered in Beijing, it is a national joint-stock life insurance company. The registered capital of the company is 15.3 billion yuan. In 2018, Huaxia Insurance's total assets exceeded 500 billion yuan, with a staff of more than 500,000 people and a total premium of 230.6 billion yuan.

Taikang Life Insurance Shares****.

It is a national, joint-stock life insurance company established on August 22, 1996 with the approval of the head office of the People's Bank of China, and the company is headquartered in Beijing.

2. If you need to consult Ping An Insurance.

For related business, you can call Ping An Life Insurance 95511-1, Ping An Auto Insurance, Property Insurance, Accident Insurance 95511-5, and Ping An Pension Group Insurance 95511-6 for consultation.

The official website shall prevail.

The two insurance companies, China Life Insurance and Taikang Life Insurance, are reliable and need to be strictly controlled by the China Banking and Insurance Regulatory Commission. Senior sister, let's send you a copy of the insurance product insurance strategy, hurry up and collect: there are so many types of insurance, which one should I buy first?

Next, the senior sister will also introduce the two insurance companies from the company's strength and solvency.

First, the strength of the background.

China Life Insurance: Founded in 2006 with a registered capital of 15.3 billion yuan, China Life Insurance is headquartered in Beijing, and currently has 24 directly affiliated branches, with a total of 673 branches (including fundraising) and a manpower of nearly 180,000 people.

The company has been listed in the Fortune Global 500 for two consecutive years. As of the end of January 2023, the company has accumulated a total premium of 100 million yuan, ranking fifth in the market.

Taikang Life Insurance: Taikang Life Insurance was established in 1996 and is headquartered in Beijing with a registered capital of 3 billion yuan. At present, Taikang Life has 36 branches across the country, covering all provincial-level administrative units in Chinese mainland, with a marketing team of more than 700,000 people, serving hundreds of millions of individual customers, with a cumulative number of 4.63 million claims and a cumulative compensation amount of 30.6 billion yuan.

If you are interested in Taikang Life Insurance Company, you can take a look at this article: Is Taikang Life Reliable? What about these products?

2. Solvency.

Solvency mainly refers to an insurance company's ability to settle claims. Huaxia Insurance Company was taken over by the China Banking and Insurance Regulatory Commission on July 17, 2020, and the solvency information on its official website was only disclosed until the first quarter of 2020, with the core solvency adequacy ratio, the comprehensive solvency adequacy ratio, and the comprehensive risk rating not yet updated. Taikang Life's solvency report for the fourth quarter of 2022 is summarized in:

Taikang Life's core solvency adequacy ratio for the fourth quarter of 2022 is the comprehensive solvency adequacy ratio, and the comprehensive risk rating result for the third quarter of 2022 is BBB. It can be seen that the indicators of these two insurance companies are in line with the requirements of the China Banking and Insurance Regulatory Commission.

None of these two insurance companies is good at saying this, because this insurance company is an insurance company that has been approved by the China Banking and Insurance Regulatory Commission, and its strength is relatively strong. Moreover, after its establishment, it has been strictly supervised by the China Banking and Insurance Regulatory Commission, and its solvency is also qualified, so there is no need to worry about the situation that the insurance company is unable to settle the claim after insuring their products.

If you want to know the detailed comparison of these two insurance companies, you can take a look: Taikang Life PK Huaxia Life Revealed! Who is better!

I have only heard of Taikang Life, but not of Huaxia Life, so I guess it is better to live Taikang Life.

Both of these companies are good insurance companies, and it's hard to say which one is better. Let's take a look at the ranking of this insurance company first, Huaxia Life Insurance and Taikang Life Insurance are ranked in **".Freshly baked! China's Top 10 Insurance Companies Ranking!

If you want to compare these two companies, let's compare them from the following aspects:

1.Company background

1) Huaxia Insurance was established with a registered capital of RMB 15.3 billion and is a national, joint-stock life insurance company. At present, Huaxia Insurance has 24 branches across the country, nearly 470 central branches, branches and marketing service departments, which is quite large.

2) Taikang Insurance Group Co., Ltd. **** is a national, joint-stock life insurance company established on August 22, 1996 with the approval of the head office of the People's Bank of China, and the company is headquartered in Beijing. It was initiated and established by 16 large and medium-sized state-owned enterprises such as China International Transportation (Group) Corporation and China Guardian International Auction, with strong strength.

2.Solvency

1) In the first quarter of this year, Huaxia Insurance's core solvency adequacy ratio was a comprehensive solvency adequacy ratio and a comprehensive risk rating of A.

2) Taikang Life's core solvency adequacy ratio in the first quarter of this year was a comprehensive solvency adequacy ratio and a comprehensive risk rating of A.

Generally speaking, the higher the solvency ratio, the less likely the company is to go bankrupt and the less likely it is to lose money.

The more popular products of China Life Insurance include the Evergain series, and Taikang Life's Hui Health is also a well-known critical illness insurance product. Then let's compare the products of the two companies, first of all:

1.Safeguards

Both of these are critical illness single claim products without moderate illness protection, but they have critical illness and mild illness protection, which is basically sufficient.

The difference is that Evergain (all-round) has a 25% compensation ratio for mild illnesses, while Health Care has a higher compensation ratio.

2. Premium**

These two are returnable critical illness insurance products, Evergain (all-round version) is the return premium at maturity, and Health Care Life is the return amount, and the total premium difference between the two products is about 20,000, but this is not very practical.

3. Insurance conditions

People over the age of 50 can't vote for Evergain (all-round version), but its waiting period is 90 days, which is half shorter than the life of Kanghu, and it is suitable for a wide range of occupations.

But on the whole, these two critical illness insurance are not cost-effective, more expensive, and not very competitive. If you pursue high cost performance, you can compare and consider other similar critical illness insurance, I have sorted out the more comprehensive and cheap critical illness insurance products on the market, you can take a look if you need it

Top 10 Popular Critical Illness Insurance Points Worth Buying!

If you'd like to learn more about the other products of these two companies, check out these two review articles:

Huaxia Insurance, how is it, is it reliable, what are the pitfalls and routines, in-depth analysis

Taikang Life Insurance, how is it, what products are there, which one is good, what are the pitfalls and routines, in-depth analysis

Overall, the strength of China Life Insurance and Taikang Life Insurance is very strong, but the products are not cost-effective, if you are more cost-effective, I suggest you compare other products.

All good, the product that suits you is better.

Critical Illness Insurance Selection Process:

1. Understand whether you need to purchase critical illness insurance.

When choosing critical illness insurance, it is not enough to look at the type of critical illness.

It's important to realize that you and your family need critical illness insurance, which is the first step in choosing critical illness insurance. Otherwise, it can only be said that I am here to understand or study critical illness insurance, not to use critical illness insurance to avoid risks for myself and my family.

2. Determine the amount of insurance that is suitable for you.

When choosing critical illness insurance, it is not enough to look at the type of critical illness.

The sum insured of critical illness insurance is calculated according to one's own annual income, and generally 10 times of the annual income is purchased as the insured amount of critical illness insurance, which can completely resist the risk of disease and disability income. Otherwise, it will not be enough to cover the sum insured, and you will lose the permanent qualification for critical illness insurance after getting the claim, and it will be impossible to replenish the purchase.

3. Determine the required critical illness insurance liability.

When choosing critical illness insurance, it is not enough to look at the type of critical illness.

According to your own situation, consider the required critical illness insurance liability, specific to death liability, critical illness and mild illness liability, and exemption liability. It is mainly combined with the insurance you have purchased and the amount of insurance you have insured.

Insurance companies are reliable, all are managed by the CIRC, and you can buy with confidence.

Taikang Life Insurance and Chinese Life Insurance You can check online Taikang has not had a single debt in the twenty years since its establishment.

It's all great, but what I value more is that Taikang has its own hospital, health insurance services, and critical illness green services.

Hello, Chinese Life and Taikang Life have their own benefits, Taikang's investment return rate has ranked first for 13 consecutive years, which can be checked online.

Hello, Chinese Life has ranked 82nd in the world's top 500 so far, and it is a state-owned enterprise