What is the duration of critical illness insurance?
Critical illness insurance can be divided into periodic critical illness insurance and lifelong critical illness insurance according to the guarantee period.
I. Regular critical illness insurance
Give priority to the protection of serious illness and guarantee it within the prescribed time limit. Generally, the balanced premium is adopted. The maximum duration of this critical illness insurance is 30 years, which means that if you buy it at the age of 20, it can only be guaranteed until you are 50 years old; If you buy it at the age of 30, you can only keep it until you are 60. After the insurance expires, the insurance contract will automatically become invalid. It should be noted that although this kind of insurance is the main insurance, it also belongs to the consumption type, and it is impossible to return the premium without paying the claim. How to buy critical illness insurance? I just sorted out the relevant contents about the selection period or life, hoping to help you: the period of critical illness insurance VS life, how to choose?
Second, life-long critical illness insurance
Lifelong critical illness insurance provides lifelong protection for the insured. There are two forms of lifelong protection. One is to provide major illness protection for the insured until the insured dies. The other is that when the insured lives to the limit age stipulated in the contract, the insurance company pays the insurance money equal to the amount of critical illness insurance, and the insurance contract is terminated. General life-long critical illness insurance products will include death insurance liability, so the rate is relatively high because of the high risk.
However, the period of critical illness insurance protection of various insurance companies in the market is different. Take the C-type health and critical illness insurance launched by China Merchants Cigna as an example. The warranty period of this product can be 20 years or 80 years. So remind consumers that it is best to choose a suitable term according to their own needs. It is suggested that people with average economic conditions can choose regular critical illness insurance first, and those with good economic conditions can choose lifelong critical illness insurance with long protection period, so that they can have long-term protection.
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