Author: Xiaotian Long
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Source: Zhihu
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I apologize for being busy a while ago and falling behind for a long time in answering your question!
I read the description of this product from Taobao as well as the terms and conditions. This mid to high end medical insurance from Zongan Online Property and Casualty Insurance has a rate of about a few hundred dollars a year, a 1 year term, a 30 day waiting period, a $300,000 annual limit, a $10,000 deductible, and 100% reimbursement.
From what we know, it fully reimburses medical expenses above $10,000 and up to $300,000 for a few hundred dollars a year, making it a cost-effective product that is also worth buying.
From a professional point of view, it's cheap for a reason. With a deductible of 10,000, it excludes many illnesses (such as colds) that don't cost much to hospitalize but have a relatively high chance of occurring, which greatly reduces the cost of its risks. The fact that it is internet marketed also eliminates a lot of operating costs. That's why it's possible to enjoy high-end health insurance for a few hundred.
It can be said that this is a middle to high end medical insurance that poor people can afford. For rich people, they usually go to very good hospitals for treatment and enjoy the best treatment, and the cost of treatment is usually tens of thousands of dollars or more, and it is not a problem to pay 10,000 dollars of medical expenses by themselves. As for an ordinary citizen, even if he spends $100,000 on treatment and only contributes $10,000 himself, I believe he will still be distressed. And for them, what they are willing to spend tens of thousands of dollars to treat is definitely not a minor illness.
The main role of insurance is to transfer life risks that you cannot afford. For small medical expenses the average person can afford, for larger medical expenses this insurance can be a good solution. So, for people who only want to use insurance to solve big medical problems, this insurance is a good choice.
For people who want to solve their medical problems as perfectly as possible through insurance, they can buy another low-end medical insurance with a 10,000 yuan limit to solve the 10,000 yuan medical expenses that need to be paid out-of-pocket in this insurance, and the total cost of the two copies will be around 1,000 yuan.
There's no comment on the quality of service from Crowd Insurance.
Defensively, the deductibles for most mid-to-high-end medical care offline are not as high, and the costs are naturally not as low. Health insurance rates decrease as the amount increases, and the question of who is more likely to have an illness that only costs 2k to treat versus one that costs 20k to treat is one I'm sure anyone can answer.
These are my analysis, feel free to share!
Extended reading: insurance how to buy, which is good, hand to teach you to avoid the insurance of these "pits"