ESTATE PLANNING ASSIGNMENT

HEALTH INSURANCE IN CHINA

By:

Aurelia Graciela Walla

015201600034

PRESIDENT UNIVERSITY

CIKARANG

2019
 AIA FINANCIAL INSURANCE COMPANY IN CHINA AND INDONESIA

AIA Financial Insurance company is an insurance company which based in HongKong,

and it has branch in Indonesia. To compete with another insurance company in Indonesia and
HongKong, they have different product offered in each country. AIA Financial in HongKong has
more specific and separate insurance product than branch in Indonesia has.

AIA Financial HongKong:

1. Savings Insurance: Grow and protect your wealth

2. Insurance with Investment Focus: Grow your savings with investments
3. Life Protection: Provide financial peace of mind in case worst should happen
4. Critical Illness Protection: Relieve financial burden when serious illness strikes
5. Medical Protection: Support for medical expenses
6. Retirement Income: Prepare for your retirement
7. Investment-Linked Assurance Schemes: Make your own investment decision
8. Accident and Other Protections: Protect against accidents and other unforeseen events
9. AIA Vitality: A game changing wellness programme that redefines the traditional concept
of insurance and reward you to live a healthy lifestyle
10. Employee Benefits: Support your HR strategies with flexible and cost-effective plans to
protect your employees
11. MPF/ ORSO/ Macau Pension: Check out our range of retirement solutions for employers,
employees, and self-employed people

AIA Financial Indonesia:

1. Life Protection: Real protection for variances of you and your family lifestyle
2. Healthcare: Enjoy your life with first class health treatment
3. Critical Illness: Protection towards the risk of having critical illness
4. Savings and Investments: Fund development that will optimize your savings and
investments
5. Pension Funds: Planning the best plan for your retirement
6. Employee Benefits: The best protection for your employees and their family
Now, we will discuss about the healthcare insurance, that have specific product which is critical
illness, because it is the only products that both branches HongKong and Indonesia has.

AIA Critical Illness product in HongKong has these variances of product:

1. Protect Elite Ultra 2:

Protect Elite Ultra 2 / Protect Elite Ultra 2 – First Gift is a participating insurance plan that
offers life insurance, critical illness protection and the opportunity to enhance your savings (for
the exact benefits of Protect Elite Ultra 2 – First Gift, please refer to “Critical Illness Protection
and Savings from day one after birth” (on page 10 in product brochure) and “Covered Illnesses
Schedule”). It provides all-round cover for 58 critical illnesses (including 57 major illnesses and 1
minor illness), 44 early-stage critical illnesses and 13 severe child diseases, along with flexible
support in case cancer, heart attack or stroke strike multiple times.

2. Smart Elite Ultra:

Smart Elite Ultra is a participating insurance plan that provides you with life insurance and
multiple illnesses protection, giving you comprehensive cover for 58 critical illnesses (including
57 major illnesses and 1 minor illness), 44 early stage critical illnesses (including minimally
invasive surgery and treatment and Carcinoma-in-situ and early stage cancer), 13 severe child
diseases as well as the opportunity to enhance your savings, supporting you through all
the different stages of your life.

3. Cancer Care Essence:

Cancer Care Essence is a critical illness protection insurance plan with life protection, giving
you and your family better protection for the future.

4. Prime Care Pro 2:

Prime Care Pro 2 is a participating insurance plan that provides you with life insurance, critical
illness protection and potential wealth accumulation. You also enjoy broad cover for early stage
critical illnesses, giving your family greater protection for the future.

5. Smart Care Pro:

 Smart Care Pro is a participating insurance plan that provides you with life insurance, early
stage critical illness and multiple critical illness protection, giving you protection for illness and
the opportunity to enhance your savings.

6. Multiple Care Pro 2

Multiple Care Pro 2 is a participating insurance plan that provides you with life insurance and
multiple critical illness protection, giving you protection for illness and the opportunity to enhance
your savings.

7. Executive Pro 2

Executive Care Pro 2 is a participating insurance plan that provides you with life insurance,
critical illness protection and the opportunity to accumulate your wealth.

8. Superior Critical Illness Plan Pro:

Superior Critical Illness Plan Pro is a critical illness protection insurance plan with life
protection, giving you and your family greater protection for the future.

AIA Critical Illness product in Indonesia has these variances of product:

1. AIA Critical Protection:

AIA Critical Protection provides benefits of protection against critical illness and life up to the
age of 99 years, with a choice of a period of 10 years or 20 years of premium payment

2. AIA Prolink Assurance:

AIA ProLink Assurance is a financial planning and life protection solution specifically
designed for you. With life protection and investment benefits that can help you deal with
unexpected risks.

3. AIA Priority Plus Assurance:

AIA Priority Plus Assurance is a unit-linked product with periodic premium payments that can
adjust to the objectives of financial planning at every stage of life.
 4. AIA All in One:

AIA All In One provides complete protection benefits to ensure the future of you and your
family is protected from all possibilities.

5. AIA Infinite Plus Assurance:

After we achieve what we are aiming for, of course we want to spoil ourselves, and just enjoy
life. Together with AIA Infinite Plus Assurance, we can get optimal results through investment-
related insurance products where we are free to determine the results we want according to our
priorities and financial goals at every stage of life.

6. AIA Sakinah Assurance:

AIA Sakinah Assurance is here to accompany you in living life by offering life protection as
well as investment as financial planning on the basis of management in accordance with sharia
principles.

7. Comprehensive Critical Cover Addition:

With C3 Additional, you will get financial support while undergoing the recovery process from
a critical illness so that you and your loved ones can focus more on your recovery process.

8. Comprehensive Critical Cover Enhancer:

Critical Illness can affect anyone without knowing age, and if that happens, it does not need
to be a barrier for you to continue living normally. With the advancement of medical technology,
critical illness in the early stages can be detected and treated before it becomes more severe. C3
Enhancer will assist you during the recovery process by providing financial support for the
treatment of critical illnesses from the early stages.

Analysis:

In my opinion, the basic for each product and what they offered are basically the same, it
is about preparing a certain amount of money to face the possibility of getting critical illness and
so on. However, the main differences in these product is the tools that is used in each country. As
in China, they focus on pledging the investment and is more specific in the purpose of the product.
While in Indonesia they focus on, the situation in Indonesia, which we do know, that people in
Indonesia is likely to look for ‘syariah’ product, and there it is they give the product that they need.
In HongKong they have a straightforward explanation for each product of what are the benefits,
while in Indonesia, they are focus on what people in Indonesia are looking for and according to
the circumtances.