Health & Protection in Shanghai

Shanghai houses the headquarters of several local and international insurance companies in the country, giving expats various options for health and protection in the city. 

There are also several reasons to get insurance in Shanghai, such as air pollution problems and much more. Aside from the mandatory car insurance for vehicle insurance and third party liability, there are other concerns that make insurance more of a priority in Shanghai. Prevailing pollution problems cause several types of illnesses and can even aggravate pre-existing conditions such as asthma. Getting international insurance plans gives you a safety blanket in case of emergencies, but it also usually includes other services that could cost you a lot of money without the proper insurance plan, such as regular check-ups and dental care.

Non-medical services such as roadside assistance and investment plans are also some of the things you can get when you sign up for insurance.

Getting Private Insurance

China’s insurance industry is extensive, especially life insurance. At one point it became one the largest life insurance market in the world due to extensive marketing and high demand. Because of this, many local and international companies now offer a low premium on life insurance plans in the country and additional services to win customers over such as investment tie-ins with life insurance. Several local and international insurance companies have offices and even headquarters in Shanghai, making them very accessible to residents in the city.

Public local health and social services can be accessible to foreign employees by choice. If you choose to sign up with local public care, you will pay a monthly contribution that can be arranged as a salary deduction through your employer. However, as public health and social services are still considered sub-standard in Shanghai, most expats and local residents prefer getting private international insurance products instead. Car insurance is also mandatory if you wish to own a vehicle in the city. Some of the most prominent international insurance companies with a presence in Shanghai are Allianz and Aetna. 

Local Insurance 

As one of the major business hubs in China, Shanghai houses a lot of insurance company offices and headquarters. International insurance giants such as Allianz, Aetna, and Zurich Insurance Group all have big offices in the city, and China’s big 5 local insurance companies also have head offices in Shanghai.

The most prominent insurance sector in China is life insurance, and the big five local insurance companies offer some of the best life insurance policies in the country, but the policies are also very local and might be difficult to claim elsewhere. China’s big five in the local insurance scene are: 

• Ping An Insurance
• China Taiping Insurance Holdings
• China Life Insurance Company
• People’s Insurance Company of China (PICC)
• China Pacific Insurance