The first point: the types of insurance are different.
Life insurance is a kind of life insurance whose payment condition is the survival or death of the insured.
Health insurance refers to a kind of life insurance in which the insured can get compensation for the expenses and losses caused by illness or accidental injury.
The second point: the guarantee period is different.
Life insurance includes term life insurance and whole life insurance.
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.
The third point: the insurance payment method is different.
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.
There are three main payment methods of health insurance benefits, namely, cost compensation or reimbursement, fixed payment and hospitalization subsidy.
The fourth point: different business risks.
Life insurance and underwriting focus on people's life span, and the underwriting procedure is relatively simple.
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.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.