ZhongAn Online P&C Insurance has just introduced a one-year cancer policy free of health notification for people with chronic illness, the first of its kind in the country.
Under the plan, the insured can receive a maximum 3 million yuan （US$424,286） payment when they receive a cancer diagnosis, and are entitled to direct settlement of the purchase costs of 83 domestically listed special drugs.
Differing from traditional insurance products that are available on the market, people with diabetes, thyroid nodules, lung nodules, hepatitis B and other chronic diseases can be covered without the need of complicated health notifications.
According to WHO statistics, seven out of every 10 Chinese may be in a “sub-health” state, and this group of people does not have many insurance options.
People in the age range from 30 days to 60 years old are eligible for the protection, and the maximum renewal period is 105 years old.
Once a policy holder has made a claim, ZhongAn Online will not refuse to renew the insurance contract due to health changes and historical claims, nor will it adjust the renewal premium of the insured separately.