Are you thinking of investing in China Life Insurance? There are many benefits to buying this type of life insurance. To begin with, you can earn commissions for the sale of Life Insurance to clients in China and the Philippines. You can also invest and earn dividends depending on how well the investments perform in the foreign markets.
You may be thinking that life insurance in China is a very risky investment. That may be true. However, it is a perfect opportunity for those who want to make investments abroad, in foreign lands. The reasons for its popularity are quite understandable. Here are some points to convince you why this insurance product is a wise investment.
First, China has a huge economy. Its nominal GDP is about the same as the USA. China manufactures products at a much cheaper cost than the USA. Its exporters also sell their goods at a much cheaper price. So, for every good sold in China, two or three good investments come out.
Second, life insurance from China does not require a license for sales. Therefore the chances of fraud and scams are minimized. Also, life insurance policies from China do not need the approval of the State Department because it is an international market. This ensures the policy is not discriminated against due to race, religion, sex, or age.
Third, because of the low premiums, there is a lot of competition in the market. There are many companies who are willing to give discounts to attract customers. So there are a lot of offers available for buyers. One can choose according to his preferences such as premiums, the number of years of cover, and so on. Also one can choose between the term, whole life, etc.
Fourth, due to the lack of life insurance regulations, China has developed its own unique system in the field of collecting dividends. This policy is called the Box Term Life Insurance Company. Its dividends are paid monthly and are also tax-free. They can be used for any medical emergencies or for buying new homes for the aged.
Fifth, life insurance from China has its own benefits. First, due to the lack of regulations in the Chinese market, there are a lot of fraudulent companies that give low rates. Second, the dividends that the company collects are exempt from income taxes. Third, the premiums that they pay are less compared to other countries.
Sixth, life insurance from China comes at very high rates. However, if you have a good health record and have a long-term career, then you are guaranteed to get good dividends. Lastly, you should know that life insurance from China is a very safe option for your future.
As you may have guessed, life insurance from China comes with a lot of risks. To protect its interests, China has placed certain restrictions on its residents. For instance, they are not allowed to travel outside of China. They are also not allowed to enter bankruptcy without the permission of the court. If they are caught, they will serve prison time.
In order to save people from such unscrupulous activities, China has developed its own Fair Trade Insurance Corporation. This institution makes sure that it ensures only those who really need it. It also conducts random background checks on its members in order to determine whether they are trustworthy. One such certificate is the International Certificate of Insurance.
Nowadays, you will also find life insurance in China being offered online. With the help of the internet, you can browse through the various policies and terms before finally making a decision. Bear in mind, though, to shop around for a good deal. Shop online not only to get the best rates but also to get the best coverage. Also, make sure to ask questions and clarify details if necessary. There are several things that might go wrong during the process.
Last but not least, it is important to know your financial situation. Do not rely too much on your social circle when it comes to this. Your bank balance, annual income, and savings should be sufficient enough to fund your retirement plan. Do not risk losing all of your savings just to pay for an insurance package.