Product Overview

An insurance product is a financial contract, commonly known as an insurance policy that is designed and sold by an insurance company. Its core purpose is to transfer specific risks — including death, illness, accidents, property loss, or legal liabilities — faced by an individual or organization (the insured) to the insurer.

Bank of China, entrusted by insurance companies (the insurer), offers personal insurance agency services. The products primarily include life insurance, annuity insurance, endowment insurance, participating insurance, universal life insurance, health insurance, accident insurance, and home property insurance. These meet the protection needs for the clients and their property.

Available Channels

This service is available at BOC branch counters, or via the BOC mobile banking app. Foreign clients can access this service at BOC branch counters.

Required Documents

Clients need to open a BOC account and provide their valid identification documents (showing they are at least 18 years old), as well as other documents required by local regulatory authorities and the respective insurance company.

Notes

Before purchasing an insurance product, it’s crucial to read the documents, including the insurance clauses, product manual, and insurance application notice to understand the product features, insurance liability, exclusions, insurance period, payment period, premium amount, policy cash value (if any), cooling-off period, surrender matters, and fee deductions (if any).

The products are issued and managed by the insurance company. BOC, as a sales agent, does not assume any investment or payment responsibilities for the products.

For foreign clients in China purchasing the insurance products, the beneficiary must have a domestic mobile phone number and a domestic bank account. Claim payments cannot be directly transferred to overseas accounts.