What does Corning Life Insurance cover?

The protection of Corning Life Insurance includes critical illness protection, critical illness exemption, death protection and high disability protection. 1. Critical illness insurance: After the contract comes into effect (or finally comes into effect) 180 days, the insured suffers from a major illness (no matter one or more) stipulated in the contract for the first time, and after being diagnosed by a specialist, the insurer pays the critical illness insurance money at twice the basic insurance amount, and the contract liability for paying the critical illness insurance money is terminated. 2. Exemption for critical illness: If the payment of critical illness insurance occurs within the payment period, the insurance benefits for subsequent periods will be exempted from payment from the date of payment, and the contract will remain valid. 2. Death protection: When the insured dies, the insurer pays the death insurance money at three times of the basic insurance amount, but after deducting the paid serious illness insurance money, the contract is terminated. 3. High disability insurance: If the insured is highly disabled, the insurer will pay three times the basic insurance amount of high disability insurance, but the contract will be terminated after deducting the paid critical illness insurance money.

Life insurance is also called "whole life insurance", "whole life insurance" and "Life Death Insurance". The insurance period shall be from the date stipulated in the insurance policy to the death of the insured. When the insured dies, the insurer pays the death insurance money. In life insurance, the payment of death insurance benefits is an inevitable event, but the payment time is a random event. There are three ways to pay life insurance premiums: ① wholesale payment. That is, one-time payment at the time of insurance; (2) Deadline. That is, it will be paid in installments within a certain number of years from the time of insurance (such as before the insured reaches the age of 60 or 65); ③ Lifelong friendship. That is, it is paid by installments in the life of the insured.

Death insurance is to prevent family members or people living on their income from getting into trouble because of the death of the insured. Life insurance is an indefinite death insurance. After the policy is issued, the insurer shall pay the insurance premium unless the premium payable is not paid, or the payment is stopped early due to the termination of the contract, and the insured dies at any time. Compared with term death life insurance, whole life insurance has the following characteristics: (1) Every effective policy is bound to be paid; (2) The premium rate is higher than that of term life insurance; (3) saving. Life insurance is a kind of long-term insurance. All policies have cash value and some savings, which is suitable for people who need life insurance and savings.

Security refers to the limited support and support as a dynamic interaction between members of society in a certain sense, such as basic survival, basic life, basic medical care, employment, unemployment, phased free compulsory education, basic old-age care, living conditions, safe, reasonable and fair freedom of speech, etc. It needs to be based on the gradual increase of civilization and wealth of the whole society and the gradual improvement of the rule of law.

Insurance guarantee is the guarantee that the insurer is responsible for providing economic compensation after the risk accident. Economic compensation is the basic function of insurance. After the insurance contract is signed, the insurer shall make a commitment within the insurance period according to the contents, scope and amount agreed in the contract.

From the perspective of economics, insurance is a financial arrangement to share the loss of accidents; From the legal point of view, insurance is a contractual act, a contractual arrangement in which one party agrees to compensate the other party for losses; From a social point of view, insurance is an important part of the social and economic security system and a "subtle stabilizer" for social production and social life; From the perspective of risk management, insurance is a method of risk management.