The idea of insurance originated in the ancient civilized countries along the Mediterranean coast where there were frequent economic and trade exchanges. About 3000 BC, ancient Babylonian regulations, desert caravans in transit, if the horses died, goods were robbed or other losses, by the parties to the oath and confirmed that the parties without connivance or negligence, can be exempted from their personal responsibility, by the caravan to compensate for all.
Second, the birth of the first insurance policy at sea
1347, an Italian captain and a merchant agreed that the captain first deposited a portion of the money to the merchant, and if, within six months, the captain's ship arrived at the destination, then the money belonged to the merchant, otherwise the merchant would bear the loss of the ship's goods. Such an agreement, which does not seem complete today, became the first marine insurance policy and the origin of modern commercial insurance.
Third, the emergence of modern life insurance
After Columbus discovered the New World, Europeans began to traffic in slaves from Africa, the end of the 15th century, the slave traders began to sea trafficked slaves to insure marine insurance, which is the source of the commercial insurance of the subject of the insurance of the life of a person, and then the crew and the passengers began to insure marine insurance.
Fourth, insurance is a stabilizer and an umbrella. Insurance allows you to suffer financial losses may be compensated, but also to help you deal with the various risks of life, a person is young to prepare for the old, not sick when there is a disease to prepare, parents to prepare for the growth of children and so on. Insurance can not prevent accidents, but he can transfer you out of the risk.
Insurance is a social and economic system, is a socialized arrangement, through the insurance company to face the risk of people organized, pay the appropriate premiums, the insurance company will be these premiums to establish an insurance fund, used to focus on bearing the insured due to the risk of accidents caused by the economic losses, through the insurance system, you can make the risk of the insured to be dispersed and transferred.
Insurance is a legal act. The insured person pays a certain amount of premium to the insurance company in accordance with the contract, and the insurance company provides insurance protection to the insured person in accordance with the rules of the contract.
Critical illness insurance was founded by Dr. Barnard. As a surgeon, he realized that many of his patients were treated after diagnosis and survived, but they were financially "dead". So he designed a critical illness insurance product, which is not only a source of compensation for the cost of treatment in the event of a critical illness, but also a source of compensation for rehabilitation costs and loss of income. So I suggest that the current critical illness protection at least to 800,000 to have the basic protection, and then if you want to improve the future in case of serious illness in the medical conditions should be in the consideration of high-end medical and overseas insurance.