In recent years, chronic and major diseases in China have shown a trend of high incidence and younger age groups. The demand for health insurance has continued to rise. The claims data of China Life Insurance shows that the number of medical claims cases has increased by more than 50% in the past five years. In 2024, the payout amount for “critical illness one-day settlement” reached 11 billion yuan, highlighting the importance of medical insurance.
To meet the diverse health protection needs, China Life Insurance has launched its first long-term medical insurance product with guaranteed renewal for 10 years – China Life Health Care Elite Medical Insurance (with adjustable rates). This product covers four major protection responsibilities: general medical care, major disease medical care, out-of-hospital special drugs, and daily hospital allowance. The insurance benefit limit is 4 million yuan, with a total limit of 8 million yuan. It can be renewed until the age of 80, providing consumers with stable and long-lasting health protection.
In response to the medical pain point of “difficult to afford expensive drugs”, this product specially adds an out-of-hospital special drug guarantee. The annual compensation limit is 20,000 yuan, and the total limit during the renewal period is 50,000 yuan. At the same time, the payment ratio of medical expense insurance benefits is 100%, and for those who have not used medical insurance settlement, the compensation rate is still 60%. This effectively reduces the economic pressure on patients.
As an important supplement to the basic medical insurance, commercial health insurance plays a crucial role in improving the medical security system. China Life Insurance has responded positively to the policy calls, continuously optimizing health-related products, promoting the integration of health protection and services, and contributing to the construction of “Healthy China”.
At present, China Life Insurance Company has sufficient solvency. In the first quarter of 2025, its comprehensive solvency adequacy rate reached 199.34%, and its risk comprehensive rating was AAA. The company operates stably and reliably. New products will further enrich the supply of the health insurance market, providing consumers with more comprehensive and reassuring health protection options.
Related Topic:
