The first is the age limit clause. Health insurance mainly includes sickness insurance, medical insurance and income compensation insurance. According to different types of health insurance, the minimum age of health insurance is generally between 90 days after birth and 16 years old, while the maximum age is between 60 and 70 years old.
The second is the deductible clause. For example, hospitalization medical insurance belongs to compensatory insurance, which compensates according to the actual expenditure, and the compensation amount cannot exceed the actual expenditure. Therefore, insurance companies generally stipulate a deductible for hospitalization medical insurance, that is, if the medical expenses are lower than the deductible, the insured cannot get compensation; If the medical expenses exceed the deductible, the insurance company will pay according to a certain proportion.
The third is the wait-and-see period clause. The wait-and-see period refers to the insurance company's obligation to pay the medical expenses incurred by the insured due to illness after the insurance contract takes effect for a period of time. Insurance companies have a wait-and-see period when underwriting health insurance. Depending on the types of insurance, the wait-and-see period can be 90 days and 180 days from the effective date of the contract. The insurance company is not responsible for the medical expenses incurred during the wait-and-see period.
The fourth is to guarantee the renewal clause. "The' guaranteed renewal' of health insurance refers to the agreement in the insurance contract that after the previous insurance expires, the applicant applies for renewal, and the insurance company must continue to underwrite according to the agreed rate and original terms." Insurance experts said that if the insured meets the conditions for guaranteeing renewal, the insurance company cannot refuse to renew the insurance on the grounds that the insured's personal health status has changed, nor can it increase the premium, increase the exclusion liability or postpone the underwriting, let alone refuse to renew the insurance. However, due to the high risk, insurance companies make different provisions on the renewal conditions of health insurance. Some companies stipulate that the insured can only guarantee the renewal of insurance if he has not paid for illness for three or even five years in a row.
Investment Insurance: Avoiding Three Misunderstandings
In recent years, investment insurance has attracted much attention from investors because of its powerful investment function. However, insurance experts remind that investment-linked insurance is insurance linked to investment income, and risk protection is only an additional part. Therefore, investors need to be rational when buying investment insurance, and should avoid the following three misunderstandings.
Myth 1: Everyone is suitable for buying investment insurance. At present, the investment insurance products on the market mainly include dividend insurance, universal insurance and investment-linked insurance. Dividend insurance is mainly suitable for policyholders with low risk tolerance and sound financial management needs. Universal insurance is suitable for policyholders with high demand elasticity and low risk tolerance, who want more choices of insurance products, while investment-linked insurance is suitable for investors with high income, mature investment concept, high asset returns and high risk tolerance.
Myth 2: Investment income of investment-linked insurance will be guaranteed. Insurance experts emphasize that the return on investment of investment insurance is uncertain. Not all the premiums paid by the insured will be invested in the investment account, but the initial fee will be deducted or the bid-ask difference will be charged when entering the investment account, and some expenses may also occur after entering the investment account. Moreover, insurance companies may charge a certain fee or refund premium when providing services such as account conversion and partial withdrawal.
Myth 3: Investment insurance is suitable for "short-term investment". Investment-linked insurance is not an ideal short-term financial product. Take universal insurance as an example. The income calculation base of universal insurance is the account value of the policy, that is, the funds paid by individuals, excluding the initial fee and account management fee. Due to the need to deduct the corresponding expenses, the income of universal insurance investment in the first two years cannot be guaranteed. If you choose to pay by installments, the initial expense deduction ratio will be higher in the first five years, and less funds will actually enter the investment account, and then the deduction ratio will gradually decrease. Therefore, the income from holding investment insurance such as universal insurance in the medium and long term will be higher.