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New health insurance product
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CHINA Pacific Insurance Co and CPIC Allianz Health Insurance Co teamed up with Fudan University Shanghai Cancer Center and Shanghai Proton and Heavy Ion Center to extend insurance coverage on cancer.
The two insurance companies have launched a product that will include services from the two hospitals and cover additional expenses from treatment.
The new product started from 47 yuan (US$7.40) a year and will offer as much as 500,000 yuan compensation when cancer is diagnosed.
The product marks the two companies’ efforts in catching up a trend where insurance companies stepped up cooperation and holding of hospitals and health check firms as consumers increasingly concerned about health and medical expenses.
China Life, Ping An, New China Life, Sunshine Insurance Group, and Taikang Life have all set foot in the sector.
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