Hong Kong

It usually covers expenses for inpatient and outpatient treatments, providing more medication and treatment options to the insured.

In general, the insured can obtain compensation from the insurance company through reimbursement of the actual expenses.

The insured can obtain a one-off payment if they are diagnosed with the critical illness specified in the policy (inclusive of severe illnesses and surgeries).

The insured can decide on how to utilize the amount (e.g., for medical expenses or family living expenses).

If the insured passes away, the beneficiaries can obtain the death benefit, preventing the situation where their lives are affected due to the loss of the breadwinner.

As the insurance sector develops, apart from the death benefit, life insurance has expanded functions such as savings, investment, succession, etc., providing a diverse range of products.

From the target group and functions, endowment insurance can be broken down into "retirement savings plan," "lady plan," "child savings plan," and others.

The insurance policy will accumulate over time. The insured can obtain the cash value of the policy when they surrender; part of it is the participating insurance, whereby they can obtain the non-guaranteed terminal dividend from the insurance company.

The insured can make a one-off payment or monthly contributions to purchase annuity products from insurance companies. The insurance company will provide accumulated return via investments.

When the insured reaches the specified age or annuitization, the insurance company will pay out the annuity regularly until the insured dies or the end of the annuitization.

With its relative edge in pricing and comprehensive services, general insurance provides financial safeguards against the various uncertainties in life.