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- 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.