The terms on your policy wording, explained in plain language. Read this before you read a contract — half the claims problems start with a word that meant something different from what you thought.
Ordered to follow the life of a policy: from the conditions that decide acceptance, to the words that decide a claim.
The number of days between the policy start date and the moment a given cover actually begins. Critical illness and some health covers use it; accident and life plans usually do not. A condition arising inside the waiting period is generally not covered.
In a critical illness plan, the number of days you must survive after diagnosis for the lump sum to be paid. Common values differ by product, and it matters for the household's cash timing.
The amount the policy pays on the insured event — the death benefit, the critical illness lump sum, or the annual medical cap. It is a limit, not a savings target.
The amount you pay before the plan pays anything. A higher deductible usually lowers the premium but raises what you front in a claim.
After the deductible, the share the plan pays versus the share you pay. Social insurance uses a reimbursement rate; commercial plans use co-insurance wording.
The most the plan pays in a policy year. Medical plans cap per year; some cap per illness or per procedure.
The list of hospitals a plan will settle with directly or reimburse at full terms. Treatment outside the network usually pays less, or not at all.
The hospital bills the insurer directly. You do not front the money, but only inside the agreed network.
You pay first, then claim back with the invoice and itemised bill. Simpler to set up, slower at the bedside.
The set of questions you answer before the policy is issued. Honest answers decide acceptance, exclusions and premium. A misstatement can void the contract.
A circumstance or condition the policy will not pay for. An exclusion must be drawn to your attention in plain language to take effect.
A condition you had signs or symptoms of before the cover started. Most plans exclude or load it; disclosure is the only safe path.
The person paid on death in a life policy. Must be formally designated and, where the policyholder is not the insured, the insured's consent is required.
A short window after receiving the policy document during which you may cancel for a near-full refund. Disclosed before you commit.
The amount a savings-type policy is worth if surrendered before maturity. It is contractual, not a deposit, and does not carry the same assurance as a fixed deposit.
The date each year the policy renews. Used for premium review, medical re-underwriting triggers, and the annual review of fit.
A filing so that social insurance pays treatment obtained in a province other than your home province, or for an overseas Chinese person returning to mainland China.
The national list of drugs, items and services social insurance will reimburse. Items outside the catalogue are your own cost.
The international framework under which financial accounts, including some insurance with cash value, are reported to tax authorities automatically.
The annual convenience quota for individuals moving money across the border. It affects premium paid from, or claims paid to, an overseas account.
Tell us the exact wording from your policy and we will explain what it does in your situation — in writing, not over a sales call.