If you needs commercial insurance such as life insurance, health insurance, personal accident insurance, property insurance, you may visit our branches and outlets to buy insurance for we have established cooperative relations with around 30 insurance companies including PICC Property and Casualty Company Limited, China Life Insurance, Ping An Insurance, China Pacific Insurance, New China Life Insurance, Taikang Life Insurance, and Taiping Life Insurance.

The sale of insurance on behalf of the insurance companies is a type of intermediary service in accordance with the Commercial Banks Law of the PRC. The branches of the bank may act as the agent of insurance companies to sell the insurance products within the authorized scope when they obtain the permit from the CBRC to operate insurance sales agent services and sing the agent agreement with insurance companies. The insurance liabilities within the insurance contracts will be undertaken by insurance companies. Most of the insurance products are covered by the CCB.

The insurance products targets the corporate and individual clients with such insurance needs.

The insurance products that can be sold by CCB on behalf of insurance companies include:

Property insurance products include corporate property insurance, construction project insurance, installation project insurance, automobile insurance, cargo transportation insurance, personal housing insurance, household property insurance, credit guaranty insurance and liability insurance.

Life insurance products include: personal and group team life insurance, medical insurance, personal accident insurance, pension insurance, annuities insurance, participating life insurance, universal life insurance, fixed income insurance and investment insurance.

The application process for different insurance products may vary. However the general process is as follows

1. Consultation with insurance products. The client consults the manager or dedicated insurance consultants with the insurance business. The party agent will explain the required rules for this type of service and formulate insurance plans tailored to clients’ needs.

2. Filling in the proposal form. The client completes the proposal form with the help of part-time agents.

3. Paying premium. The part-time agent sends the proposal form to the insurance company who will issue the formal policy and notify the bank to charge the premium. As for the long-term life insurance products that need to be paid by installments, the client needs to sign a deposit agreement with the bank. The client will receive the receipt after the payment of premium.

4. Obtaining insurance certificate. The proposal form and policy will be sent to the client by our bank or mailed to the client by the insurance companies.

5. Renewal. When the short-term life insurance contract expires, the policyholder may ask the bank to make the renewal by providing the policy, receipts, renewal application and other necessary certificates to the bank. With the consent of the insurance company, the client may pay the premium at the bank.

6. Withdrawal. The policyholder may launch the withdrawal application through our bank or to the insurance company. The policyholder needs to provide the policy, receipts, withdrawal application and his or her ID to the bank and ask the bank to go through the withdrawal procedures.