Question:IF insurance company bankruptThen how about everybody's insurance plan?
Can still get the money back from the insurance company?
If in Singapore, you will get a minimum amount from MAS
For each insurance selled the insurance company is required to put some deposit in MAS to prevent they zero out the whole insurance while bankrupt.
If in China, for life insurance, IRC will put the insurance company up to auction and the taking over company will also take over the insurance policy. If there are not company interested in buying it, IRC will appoint an insurance company (Usually PICC or Chinalife) to take over these life insurance polices.
If in China, for life insurance, IRC will put the insurance company up to auction and the taking over company will also take over the insurance policy. If there are not company interested in buying it, IRC will appoint an insurance company (Usually PICC or Chinalife) to take over these life insurance polices.
Yeah!
Huasing Association 1999 - 2013