Senior, let's talk about the difference between China Life Insurance and Taikang Life Insurance, and see which insurance company is stronger. Compare which company's products are more cost-effective?
On Baidu, we can see that the news of both companies shows their prosperity. On the other hand, it is noteworthy that the World Brand Lab recently released the list of "500 Most Valuable Brands in China" in 20021year, and China Life brand continued to rank fifth, which is the eighth consecutive year that China Life has been on the list.
Let's look at some news about Taikang Life Insurance Company. For example, the right side of the figure below is 202 1. Taikang Insurance Group, the parent company of Taikang Life Insurance, officially joined the United Nations Responsible Investment Organization from now on, becoming the 4,000th signatory of PRI, but becoming the third insurance institution in China to join PRI, which is of great significance.
However, which unit will be better, China Life Insurance or Taikang Life Insurance? It will be clear after reading today's article ~
Before the official start, we need to have a general understanding of the evaluation criteria of insurance companies: "What should we look at when we look at insurance companies?" 》
I. Company PK: Who is stronger, China Life Insurance or Taikang Life Insurance?
Want to know the strength of the two insurance companies, can be analyzed from the following two aspects:
1. Comparison of the status of insurance companies
China Life ranks first in the domestic life insurance industry, headquartered in Beijing, with a registered capital of 28.265 billion yuan.
Fortune Global 500 and Fortune Global 500 enterprises, China Life Insurance (Group) Company are all Fortune Global 500 enterprises. China Life Insurance Company has won the trust of its customers with its long history, strong strength, professional leading competitive advantage and world-famous brand.
Taikang Life Insurance is a subsidiary of Taikang Insurance Group, headquartered in Beijing, with a registered capital of 3 billion yuan. By the end of 65438+February 3 1 in 2020, the total assets of the corresponding insurance companies have exceeded 995 billion yuan.
Up to now, Taikang Life Insurance has set up 36 branches covering all provincial administrative units in Chinese mainland, with a marketing team of over 700,000 people. Its individual customers can reach 654.38+58 billion, the cumulative number of claims can reach 4.63 million, and the cumulative amount of claims can reach 30.6 billion yuan.
Also, in the latest premium ranking of life insurance companies in 2020, China Life won the second place with a premium scale of 6129.44 million yuan, and Taikang Life held the seventh place with a premium scale of 654,380+0,439.56 million yuan. I have to say that these two companies have occupied a sky in the insurance industry ~
The following article tells us what the battlefield is about the competition between China Life Insurance and Kangtai Life Insurance: "The most comprehensive evaluation of" China Life Insurance "pk" Taikang Life Insurance "is finally clear this time"
2. Comparison of solvency of insurance companies.
After knowing the situation of the two companies, let's compare their solvency.
First of all, we need to understand that the CBRC's requirements for the solvency of insurance companies are: the core solvency adequacy ratio is ≥50%, and the comprehensive solvency adequacy ratio is ≥ 100%. Only after the above conditions are met can they operate normally.
According to the data of China Life Insurance Co., Ltd. in the third quarter of 2022, its comprehensive solvency adequacy ratio was 230.26%, its core solvency adequacy ratio was 16 1.93%, and its comprehensive risk rating in the second quarter of 2022 was AAA.
According to the summary of the solvency report of Taikang Life Insurance Co., Ltd. in the third quarter of 2022, the core solvency adequacy ratio of Taikang Life Insurance is 1 12.4 1%, the comprehensive solvency adequacy ratio is 224.82%, and its comprehensive risk rating result in the second quarter of 2022 is BB.
Then the comparison of critical illness insurance products. It is obvious which company's products are good, so what is the comparison result? If you want to know, just look below!
Second, the critical illness insurance product PK: China Life Insurance or Taikang Life Insurance, who has higher cost performance?
Since the competition for critical illness insurance is so fierce, the following senior students will take Guo Shoufu 202 1(A) of China Life Insurance and Lexiang Health 202 1 (adult version) of Taikang Life Insurance as examples to see which insurance company has the highest cost performance and is the most suitable.
As usual, let's take a look at the comparison chart of the two products:
Senior simply showed you the comparison results:
1, comparison of insurance conditions
Obviously, the insurance conditions of these two products are very similar, and the term is the same, including the guarantee period, the longest payment period and the waiting period. However, the shortcomings of these two products also exist, such as waiting period.
Anyone who knows the critical illness market knows that the shortest waiting period now is 90 days. In terms of waiting period, China Life Insurance 202 1 (Type A) and Lexiang Health 2021(Adult Edition) are both 180 days, which is twice the difference.
As you can imagine, if you got seriously ill on September1,the reason why you can't claim compensation at this time is because the waiting period of 180 days has not exceeded, the insurance company will directly refund the premium and the contract will be terminated!
It can be seen that when we buy critical illness insurance, we must choose products with shorter waiting period ~
I have listed some places that you must pay attention to when buying insurance. For example, in this article, some products compiled by Senior Sister are: "The insurance company will not lose money during the waiting period, right?" If you don't understand, you will suffer a big loss! 》
2. Comparison of guarantee contents
As can be seen from the figure, the protection of China Life Insurance 202 1(A) and Lexiang Health 202 1 (adult version) is still very strong, covering the protection of serious illness, moderate illness and minor illness. However, it is never expected that there are still huge defects under such comprehensive protection, and the proportion of claims provided by various guarantees is really unsatisfactory.
China Life Insurance 202 1(A) can only pay 20% of the insured amount for minor illness, while Lexiang Health 202 1 (adult version) only pays 25% of the insured amount for minor illness.
You know, 30% coverage is already the standard line for the proportion of most critical illness insurance and minor illness insurance in the market. In addition, some products also have an additional guarantee of 10%.
Third, the summary of the senior sister
To sum up, in terms of the strength of insurance companies, Taikang Life Insurance and China Life Insurance are both extraordinary in strength.
If we compare the critical illness insurance again, the result will be unsatisfactory. On the whole, China Life Insurance 202 1(A) and Lexiang Health 202 1 (adult version) are very common in terms of cost performance, which is reflected in the long waiting period, the inability to let customers enjoy earlier protection and the low proportion of minor illness compensation.
Critical illness insurance is more complicated. Senior can give you some advice. Choosing several insurance companies to compare excellent results is king!
Write it at the end
I am an expert in insurance, focusing on objective, professional and neutral insurance evaluation;
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