China Life Insurance Company Limited has signed an exclusive deal with Goodhealth Worldwide (Bermuda) Limited to launch the first international health insurance plan in mainland China. The official product launch is set to take place within two months.
The expansion of China into international trade means more foreign businesses and an expansion of the expatriate population in the country. The number of westerners currently staying in China is estimated at more than 300,000.
The language barrier and cultural differences, makes it hard for expatriates to obtain medical services and insurance coverage in China. Expatriates often choose to travel to Hong Kong for surgery or crucial medical advice.
Currently, no international healthcare insurance policy is available in China. All healthcare policies are underwritten by a registered insurer in China. As medical policies currently issued by insurers in China do not cover treatment outside the mainland, virtually no expatriates staying in China take up a local medical plan.
The new insurance product to be launched by China Life and Goodhealth will give expatriates a practical choice.
China Life Insurance Company Limited is the largest life insurer in China. It provides various insurance products, including health insurance. products.
GoodhealthWorldwide is a specialist international medical insurance provider with an Asia Pacific regional office and a service centre in Hong Kong.