(I'm not going to reveal my name, so I'm going to use her instead.)
She bought a life insurance policy for her oldest son. When her son suffered from leukemia, the insurance became a bit of a relief for her in her "misery". 18 years of her son's treatment expenses were reimbursed by Certain Life without any problem.
But the next year, when she took the list of medical expenses again to reimbursement, the insurance company did not claim.
The reason was that the audit was not passed and the policy was not renewed.
The key is that the second year's premium has been automatically deducted for one month. （
The key is that the second year's premium has been automatically deducted for one month. (The insurance company said that the premium will be refunded)
Although I am not a party to this, I am also very, very angry!
After this incident, I encountered people consulting me about the usefulness of the Million Dollar Medical Insurance.
My answer is: if you buy the right one, it works! If you buy the wrong one, it doesn't work!
In the four major types of insurance - critical illness insurance, accident insurance, medical insurance, and life insurance - the medical insurance is the most complicated, and it seems to be more or less the same on the outside, but the devil is often hidden in the details.
I'm going to give you a good list today.
1. Renewal is subject to review, and in addition to the increase in fees, it may also be denied coverage?
The biggest uncertainty of the million-dollar medical insurance is: if you buy it this year, you can still buy it next year.
For example, if I have a medical checkup this year and find out that I have a minor problem, or if I have already had a claim, will I be able to renew my policy?
Currently, most medical insurance policies usually have the provision that renewal is not denied due to a change in the insured's health status.
But there are a few products that tinker with this.
Let's take **e Home Insurance as an example:
Simply put, when something goes wrong with your health, you may be denied renewal or a premium increase.
Maybe the health condition at this time can not pass the other medical insurance health notification, you can only end up naked, so encounter this kind of renewal need to review the product, direct black is.
2. The claim of "renewal to 100 years old" "renewal to life", the result of the second year can not buy!
As we said earlier, there is no guaranteed lifetime renewal for MMPs.
But some insurers are trying to attract consumers by saying that the policy can be renewed up to the age of 100.
Guaranteed renewal and continuous renewal may seem similar, but there is a huge difference in what they actually mean.
"Guaranteed renewal" means three things:
Guaranteed renewal
Guaranteed rates
Guaranteed liability
There are only a few insurance policies on the market that can guarantee renewal of a health insurance policy for the longest possible period of time
Continuous coverage can only satisfy the third requirement.
So even if we promise to renew the policy until age 105, it doesn't mean that we will be able to renew the policy properly in the 2nd year.
Don't be fooled by these products.
3. Missing important coverage!
A sound medical plan should include: general hospitalization, special outpatient services, outpatient surgery, and emergency room visits before and after hospitalization.
Hospitalization expenses
The basic expenses incurred when you are sick and hospitalized, such as treatment, surgery, nursing care, medication, and tests, are all essential and very practical.
Outpatient surgery
Outpatient surgery refers to simple surgeries that can be done directly on an outpatient basis without hospitalization. Such as simple excision, puncture, etc.
Special outpatient
Generally includes outpatient renal dialysis, outpatient malignant tumors, and anti-rejection treatment after organ transplantation.
All three treatments can be performed on an outpatient basis, or you can apply for inpatient care.
Outpatient emergency before and after hospitalization
Considering the resource constraints of hospitals, many patients' diagnostic tests and reviews are conducted through outpatient clinics.
That's why Million Dollar Healthcare usually reimburses outpatient emergency room expenses for 7 days before hospitalization and 30 days after discharge.
Intensive Care Unit (ICU) Fees
For an ICU stay, $6,000/day is the bottom line standard. How many people are saddened by medical bills that can easily run into tens of thousands of dollars a day.
That's why it's also important to include liability for ICU expense coverage.
If a multi-million dollar medical insurance policy doesn't cover the above, it's cutting corners and is a pothole.
4. Bundled sales, expensive
Medical insurance is not very profitable due to the high leverage, high risk and low price, so many insurance companies came up with bundled sales.
Life insurance, critical illness insurance, annuity insurance and medical insurance are sold in bundles, like health ** enjoy B +, * summer's medical * pass universal version, can not be purchased separately.
I've never been a fan of bundling, and it's clearly unreasonable to spend thousands of dollars more on a primary insurance policy just to get medical insurance.
So when it comes to this type of product, forget about it, there are plenty of good products on the market to choose from.
How to choose medical insurance, I'll give a few tips:
1, the product as much as possible to choose to protect the full
If it is a million medical insurance, hospitalization, outpatient surgery, special outpatient, hospitalization before and after the emergency room is the best to be able to reimburse.
Hospitalization advances, medical green passes, and other such services that can save lives at critical moments are also desirable.
2, the product to choose a stable
We all know that most of the medical insurance is a year, the product is unstable.
But now there is also a guaranteed renewal of 6, 15 and 20 years of million medical products.
Choose a product that has been on the market for a long time and has a large subscriber base so that it won't be easily discontinued.
3, to be good renewal conditions
When choosing medical insurance, the renewal conditions are a very important issue.
At least to be able to do: will not be because you get worse health, or claims have been made, and refused to continue your insurance.
4, focus on the deductible, not the amount of coverage
Buy insurance to focus on the amount of coverage, but millions of medical insurance coverage are millions of dollars, the cost of hospitalization of the sick is also completely sufficient.
What is recommended is that we should pay more attention to the deductible, because the deductible is low, the threshold of the claim is correspondingly lower, and the probability of the claim will rise.