The significance of converting critical illness insurance into pension is actually that when we sign the insurance contract of critical illness insurance, there is a mark of annuity conversion right, that is to say, the beneficiary is. When applying for insurance money, you can convert all or part of the critical illness insurance money into an annuity. The second way is to convert the cash value returned by the insurance company into an annuity if you want to apply for termination of the contract or reduction of insurance after the contract takes effect for 20 policy anniversaries. Generally speaking, if you don't take away the major illness claims, you can buy annuity insurance directly. The second kind is surrender or partial surrender, which can only get back the cash value, and the money can be used to buy annuity insurance.