South China Property Insurance

Mrs. Lin said that this year, she and her husband took two children under the age of 15 to Japan for a trip. After getting off the plane, the child felt very uncomfortable when he was airsick, so he had to go to the emergency room first to deal with it. “Before leaving, I took out a travel insurance online, including overseas medical insurance for sudden illnesses. I want to say that travel insurance is easy to buy, and even if I feel uncomfortable in my health abroad, I don’t have to worry about the high medical expenses.” Mrs. Lin continued, “No one wants to get sick abroad, but travel insurance doesn’t seem useful. Because my child is medically overseas, I also specially obtained a diagnosis certificate from the doctor, but when I applied for claims from the insurance company after returning to Taiwan, I only received NT$107.”

After examining the travel insurance that Mrs. Lin bought for herself and her children, the insurance amount of her husband and she had an agreement of RMB 12 million, the premium for both of them was RMB 1,463, and the premium for two children under the age of 15 was RMB 525. In fact, it is similar to the travel insurance that many people buy.

It should be noted that the travel insurance that ordinary people must buy abroad is the main contract, which only protects accidental deaths, and the focus is on the attachment, especially overseas sudden illness insurance, so that the medical expenses incurred due to illness during overseas travel can be transferred; of course, since overseas sudden illness insurance is the attachment, you must first buy a travel insurance main contract to attach, and the coverage is 10% of the travel insurance.

In addition, overseas sudden illness insurance does not have many problems with adult insurance, but children under the age of 15 are limited by the government’s limit of up to 690,000 yuan for children’s funeral expenses (death insurance coverage). Some property insurance companies only provide less than 10% of the 690,000 yuan of overseas sudden illness insurance coverage, which is between 30,000 and 50,000 yuan. The current insurance rules and the amount of insurance you can buy in the market are very chaotic, and the regulations on life insurance of each property are different.

Taking South China Property Insurance as an example, children who do not accept funeral expenses exceed 690,000 yuan and under 15 years old will be insured; if the funeral expenses do not reach 690,000 yuan and are insured online, the coverage of overseas sudden illness insurance is only 30,000 yuan. Even if the limit is increased for special tourist areas, such as 150% in Japan, the amount will only be increased to 45,000 yuan; therefore, if the child gets sick locally and has a higher medical expense, the quota of 45,000 yuan may not be enough.

Some property insurance companies have also launched a zero-fueling version of travel insurance for children under the age of 15, which only provides medical insurance, such as Anda Chan, Fubon Chan, CITIC Chan, etc.

It should be noted that regardless of adults or children, outpatient and emergency departments pay compensation according to the proportion of overseas sudden illness insurance coverage, most of which are 0.5%; only a few policies provide more than 1% coverage. Therefore, assuming that the coverage amount of overseas sudden disease insurance is 200,000 yuan and the claim is 1%, then the maximum claim limit for outpatient and emergency departments is 2,000 yuan.

As for Mrs. Lin’s children’s condition, the amount of overseas sudden illness insurance that children under the age of 15 can buy is lower, only a few thousand yuan. The outpatient and emergency clinics pay compensation according to the proportion of overseas sudden illness insurance coverage, most of which is 0.5%. No wonder when she applied for the claim after returning to Taiwan, she saw 107 yuan, a shocking amount.