3•15|Ping An Life Xiamen Branch: New Contract Follow-up — Building the "Last Line of Defense" for Insurance Consumption

[Case Introduction]

Recently, Mr. Li was introduced by a friend to purchase an insurance product online. Due to trust in his friend and a lack of judgment about his own needs, he did not carefully read the policy terms at the time of purchase. After a quick browse, he checked the box indicating “I am aware of all terms,” including key points like “Insurance Responsibilities” and “Insurance Period.” Without fully understanding the product risks, Mr. Li completed the purchase.

Three days after receiving the policy receipt, the insurance company’s new contract follow-up found that the insured need (critical illness coverage) did not match the actual coverage (only accidental injury), and Mr. Li’s understanding of the terms was vague, triggering a risk warning. After the customer service representative re-explained the terms, Mr. Li realized the product did not meet his needs and promptly exercised his right to cancel during the cooling-off period, avoiding surrender losses. He later chose a more suitable insurance product.

[Case Analysis]

In this case, the new contract follow-up used “needs matching verification + risk information review” to accurately identify risks, safeguarding the consumer’s right to be informed and right to choose independently:

Needs matching verification: The application questionnaire selected “critical illness coverage,” but the product only included accidental injury benefits. The follow-up also found that the customer was unclear about exemption clauses.

Risk disclosure supplement: The customer did not fully understand the insurance product, including key information such as the insurance period, dividend income uncertainty, and surrender losses. During the follow-up, these information gaps were promptly addressed.

Rights protection implementation: According to Chapter 3, Article 20 of the “Measures for the Protection of Consumer Rights and Interests of Banking and Insurance Institutions” (Order No. 9 of the China Banking and Insurance Regulatory Commission), “Banking and insurance institutions shall safeguard consumers’ right to be informed, using plain and understandable language and methods that facilitate consumer reception and understanding to disclose product and service information. Explanations of professional terms shall be provided, and risks shall be disclosed timely, truthfully, and accurately.” The follow-up reminded customers to cut losses during the cooling-off period, protecting their rights.

[Case Warning]

Ping An Life Xiamen Branch reminds all insurance consumers:

The new contract follow-up is a process to confirm whether customers understand their insurance rights and services. When purchasing insurance, policyholders may not fully understand some technical terms and policy clauses. Follow-up helps customers better understand key information such as insurance responsibilities, coverage scope, and exclusions, preventing future disputes.

During the follow-up, insurance companies will highlight risks related to key contract points, such as cooling-off rights, surrender losses, and exemption clauses. These reminders help policyholders clearly recognize their rights and risks, enabling more rational decision-making.

The new contract follow-up is not just the “end” of the sales process but a crucial safeguard for consumers’ legal rights. As insurance products become increasingly complex and sales move online, consumers should pay attention to follow-up, actively verify key information, and effectively protect their rights, jointly fostering a healthier and more transparent insurance consumption environment.

[Source: Taizai Network - Finance]