FANH - Fanhua partners with Aviva-COFCO to launch customized critical illness plan

China-based independent financial services provider Fanhua (NASDAQ:FANH) partners with Aviva-COFCO Life Insurance to introduce Huaying Guardian No. 1, a customized critical illness plan. The plan offers twofold protection with both a lump sum payout of critical illness benefits and coverage for critical illness-related medical treatment. During the payment period, the insured amount will rise by 5% per annum, guarding against inflation risk, the company says. "As one of the few critical illness products currently available in China's life insurance market featuring incremental insurance coverage, Huaying Guardian No. 1 offers unique value to customers," said Fanhua Chairman and CEO Chunlin Wang. On Tuesday, Fanhua says the total regular life insurance business exceeds RMB10B.

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Fanhua partners with Aviva-COFCO to launch customized critical illness plan