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What is the difference between medical insurance and critical illness insurance:
It is a different kind of insurance. Medical insurance is a kind of compensation insurance, which must be based on the premise of reasonable and necessary medical expenses, and the amount of compensation will not exceed the cost of treatment. Critical illness insurance is a fixed payment type, as long as the diagnosis of the contracted critical illness (or minor illness) can be paid, the amount of compensation is determined according to the amount of insurance at the time of purchase, and has nothing to do with whether or not medical expenses, how much they are incurred, and whether or not they are compensated for from other sources.
Second, the role of insurance is different medical insurance can be used as a supplement to social security, to improve the scope of coverage and quality of treatment (such as social security does not care about out-of-pocket expenses, you can buy high-end medical insurance, covering out-of-pocket expenses and private hospitals, etc.). Critical illness insurance is a diagnosis that pays, and has nothing to do with the actual costs incurred, not only can make up for the medical costs not covered by health insurance/medical insurance, but also is the main source of long-term rehabilitation and care costs, and at the same time, can effectively compensate for the loss of income of the patient and his family.
Three, the coverage period is different medical insurance is generally a one-year insurance, up to the age of 80 or 99 years old, that are the highest renewable age. So there is a certain risk, if the claim or the health situation has deteriorated, the second year is likely not to give you renewed, in the most need to protect the time, the protection is gone; Secondly, even if some of the products provide conditional guaranteed renewals, but does not rule out the impact of changes in the overall rate of claims and medical costs, to stop the product, can not guarantee that the insured whether they still enjoy the right to renew, so do not ever think to take the A one-year product to achieve the purpose of protection for life. The coverage period of critical illness insurance is optional, and long-term insurance is predominant, and many of them are insured for life. Once insured, no matter when the insurance is taken out, you can get a claim. Usually the premium is constant and will not be adjusted with age changes; in addition, because it is a long-term contract, the future rights have been locked in the time of the policy, can not be unilaterally terminated early because of the discontinuation of the product or claims rate and other issues.
Four, the value of life is different whether it is medical insurance or medical insurance, are only compensation for medical expenses, there is no value of life, that is, life insurance protection. And critical illness insurance both early payment of critical illnesses including death liability of critical illness insurance, there is also a separate attached to the life insurance on top of the critical illness insurance. Whether you have a critical illness or unfortunately die, you can get a payout.
So no matter how good the million medical insurance is, it's still just a medical insurance policy, don't expect to solve all the problems with a single insurance policy, only reasonable collocation, according to their own needs configuration, in order to get the most comprehensive protection.