1, different definitions
Life insurance is a kind of life insurance whose payment condition is the survival or death of the insured. Different from other insurances, life insurance transfers the risk of the insured's survival or death. Health insurance is a kind of life insurance in which the insured can get compensation for the expenses and losses caused by diseases or accidents. According to insurance liability, health insurance can be divided into sickness insurance, medical insurance, disability income loss insurance and nursing insurance.
2. The insurance period is different.
Health insurance can be divided into short-term health insurance and long-term health insurance. Short-term health insurance refers to the health insurance whose insurance period is less than 1 year and 1 year, excluding the guarantee renewal clause. Long-term health insurance refers to health insurance whose insurance period exceeds 1 year or whose insurance period does not exceed 1 year, but with renewal clauses.
3. Insurance payment methods are different.
There are three main payment methods of health insurance benefits, namely, cost compensation or reimbursement, fixed payment and hospitalization subsidy. Life insurance belongs to payment insurance. As long as there is an insurance accident agreed in the insurance contract, the insurance company will pay the insurance money according to the contract. * * * There are three kinds: bonus, surrender premium and insurance premium.
4. Different computing technologies
When setting the rate of health insurance, disability rate, disease rate and duration of illness (disability) are mainly considered, and the calculation basis is the loss rate of insurance amount and unexpired liability reserve. Life insurance mainly considers mortality rate, expense rate and interest rate when setting the rate.
5. Different business risks
The insurance liability of health insurance is injury insurance, and its influencing factors are particularly complicated. There are many risk factors in health insurance, adverse selection and moral hazard are more serious, so in underwriting, health insurance is much stricter than life insurance. The risk of life insurance in this respect is very small, the core standard is human life, and the underwriting procedure is simple.
The above is the difference between life insurance and health insurance.