Critical illness insurance open for applications starting in May

Critical illness insurance, which has been a key livelihood project in Shenzhen since 2015, will be open to 2018-2019 applications from May 1 to June 30.

The program was launched by the Shenzhen human resources and social security bureau and is managed by the Shenzhen branch of Pingan Annuity Insurance Company. Local residents can become insured anytime between May 1 and June 30 after paying 29 yuan ($4.6). Coverage lasts from July 1, 2018 to June 30, 2019.

According to officials from the bureau, all recipients of the city's social insurance program are entitled to critical illness coverage. The application is voluntary and participants do not have to provide a medical examination report, meaning those with pre-existing conditions are eligible for coverage as well.

The Shenzhen municipal social insurance fund management bureau will deduct payment from the personal accounts of employees at 18:00 on June 30, unless they opt out of coverage. The bureau announced at a press conference on April 24 that those who don't wish to receive coverage can apply for an exemption anytime between June 1 and June 30, or they can reply "N" before June 20 to the text-message notice they will receive between June 3 and 10.

Since its inception in Nov 2015, the widely-acclaimed insurance program has benefited over 33,000 Shenzhen residents, with nearly 400 million yuan having been claimed as of March this year. The number of insurance recipients has seen significant growth over the years and stood at 6.25 million in the 2017-18 insurance cycle.

A press conference is held in Shenzhen on April 24 detailing the 2018-19 insurance program. [Photo/Nanfang Plus]