Having insurance is crucial for foreigners who work, live, study and travel in China. Insurance can protect you from major financial loss and unexpected expenditure, and gives you a better life in China.
Various types of insurance products can be chosen according to the duration of your stay. Here are some suggestions for different situations.
If you come to China to visit friends or travel for less than 6 months, travel insurance is the most suitable product for you, which covers the accident and acute medical expenses.
For example, the " You You Bao (Carefree Tour Insurance) " domestic travel insurance (Exclusive for Internet sales channel) (“优游保” 境内旅游保险（互联网专属）) from People’s Insurance Company of China (PICC) app provides you with accidental death and dismemberment coverage, personal liability coverage, hospital allowance, accident medical expense coverage for a single trip within 30 days.
It also covers expenses for emergency medical evacuation and repatriation, compensation of transportation for emergency medical reunion, and repatriation for remains.
As the residence time becomes longer, the risk of accidental injury and routine medical needs may increase. Accordingly, personal accident insurance and private medical insurance should be considered.
High-deductible, high-limit medical reimbursement insurance plans (HDHL, or 百万医疗in Chinese), which is popular in the Chinese commercial insurance market, covers hospitalization, surgery and specific outpatient medical expenses from accidents or diseases.
The deductible amount is 10,000 RMB per year for most of the HDHL plans. “Ru e Bao” accidental injury accident insurance (“如e保”意外伤害保险) comes with a competitive low deductible amount of 100 RMB per accident.
It is an effective supplement of medical insurance that helps you pay for unexpected medical expenses of a qualifying accident.
If you plan to live or settle in China for a long time, it is essential to participate in social insurance.
The social insurance system in China is established to cover basic pension insurance, basic medical insurance, work-related injury insurance, unemployment insurance, maternity insurance and so on.
It helps citizens to obtain financial help legally from the country and society in the case of retirement, disease, employment injury, unemployment and fertility.
Foreigners can participate and be included in China's social insurance if they are legally employed in China.
According to the “Social Insurance Law of the People 's Republic of China”, “Interim Measures for the Participation in Social Insurance of Foreigners Employed in China” and other regulations, the employer is obligated to pay the social insurance for foreign employees in China (referred to those who have obtained employment certificates such as “Foreigner Employment Certificate”, “Foreign Expert Certificate”, “Foreign Journalist Residence Permit” and other foreigners work permits in accordance with the law, as well as non-Chinese nationals who are legally employed in China with “Foreign Permanent Resident ID Card”).
The commercial insurance will charge less if you are a social insurance participant.
Last but not least, you can also have a homeowners insurance like “An Ju Bao, High-limit Homeowners Insurance” (安居保-千万家财保). It covers losses and damages to your residence, along with furnishings and other assets in the house.
Policies typically cover losses from accidents such as fires, explosions, leaking pipes, sewer backwater or natural disasters like typhoons and rainstorms.
It also covers losses from casualties and assets due to the faults made by you or your family members unintentionally.
