If the insurance company guarantees coverage for a certain period of time, such as 6 years, and no underwriting is required for renewal within the promised period, and the policy can be renewed even if there is a change in health conditions, and will not be unable to be renewed due to the discontinuation of the sale, then it is guaranteed to be renewed for a period of 6 years. If in the terms and conditions of the commitment is only in the product on sale in the case of renewal to a certain age, and the renewal of the policy does not do the underwriting, but discontinued can not be renewed, that is, the commitment but does not guarantee the renewal of the insurance, common in the 1-year medical insurance. There are also renewal clauses that stipulate that the policy can only be renewed after the company's review and approval. However, in practice, this model is generally not underwritten, this insurance company will retain the operation of their own margin, such as the insured has because of personal health reasons or history of payment of claims refused to be insured. This is not a promise to renew.
Ping An Life's version of the ?eLife medical insurance ? Clearly put ? not refuse coverage due to changes in the insured's medical condition? As long as the customer does not submit a written request to stop the renewal of the policy and pays the premium on time, the policy can be renewed. The initiative to renew the policy is entirely in the hands of the customer and the insurance company does not intervene unless the product is discontinued or the insured reaches the maximum age for renewal. If you are buying Ping An eSurance? Ping An eSurance? Long-term Medical Care? If you buy Ping An eShouLian Insurance, as long as you are within the renewal period, no matter whether you have made a claim or your health condition has changed, or even if the product has been discontinued, the insurance company will have to insist on renewing your policy within the stipulated guaranteed renewal period (20 years). If you are particularly concerned about renewal, as long as you don't exceed the age of 55, then try to consider buying the Ping An eShanghai Insurance? Ping An eLife Insurance? The first thing that you need to do is to get a good deal of money for the first time.
The renewal conditions of medical insurance, roughly speaking, can look at the following four points: ① will not increase the price ② will not be denied because of claims ③ will not be denied because of the deterioration of health ④ discontinued can be renewed at the very beginning, only in full compliance with these four points of medical insurance can say that their own is a guaranteed renewal of the medical insurance. As the data on medical insurance matured and the people's clamor for a long-term guaranteed renewable medical insurance grew, a medical insurance that could increase in price but guaranteed to be renewable for 15 / 20 years after the first policy was taken out came into existence.
The lack of clarity on the review mechanism is somewhat embarrassing for consumers, as it means that the power of life and death is in the hands of the insurance companies, and we don't have any ability to counter it. Of course, long-term medical insurance is a risky business, so it's understandable, and we can only hope it gets better and better. The first thing to watch out for is renewal, and the second thing to watch out for is price increases. If you don't have a Million Dollar Medical on you, or are older and worried about your future health, then go for a Million Dollar Medical policy with a 15/20 year guaranteed renewal. We may face a price hike in the product, but the product should be cheaper than the cost of hospitalization even if the price of the product is high.