What do you mean by six-year guarantee renewal?

Hello, according to the Administrative Measures on Health Insurance of China Banking Regulatory Commission, "Guaranteed renewal" means that after the last insurance period expires, the applicant applies for renewal, and the insurance company must continue underwriting according to the agreed rate and original terms. Take the long-term medical care beyond the warranty period as an example. Within six years after the renewal, the renewal will not be refused because of the insured's health status and claims, and the rate will be implemented according to the original agreement. Even if the product is discontinued, the renewal right still exists.

Due to the lack of insurance knowledge and asymmetric information in the insurance industry, buying insurance is a very complicated matter in many people's minds. If you don't know how to read an insurance contract, you can read this article: 4 tricks to read an insurance contract quickly! Reading skills that can be learned in 3 minutes.

"Guarantee renewal" contains three meanings: ① guarantee responsibility remains unchanged; (2) ensure that the rate remains unchanged; (3) Guarantee that the warranty can be renewed (even if the sale is stopped). Only by doing these three things at the same time can it be regarded as "guaranteed renewal".

At present, millions of medical insurance on the market can only achieve the first point, but it can surpass long-term medical insurance at three points. There are three specific renewal rights:

▲ Right 1: The insurance rate remains unchanged. During each guarantee renewal period, the premium will be paid according to the original agreed rate table, and the renewal premium will not be adjusted separately because of the health status or historical claims of a single insured.

▲ Second from the right: the insurance can still be renewed after the claim is made. During the renewal period of each guarantee, the renewal will not be refused because of the health condition or claim of the insured.

▲ Equity 3: The product is discontinued, and the renewal rights are still there. During the warranty period, if the product is discontinued, you can apply for medical insurance designated by our company, without health notification and waiting period. It can be said that it is a real guarantee renewal.