It seems that people still don't know much about critical illness insurance. Senior students must make it clear to them today that there is a difference between lifelong critical illness insurance and regular critical illness insurance!
Before starting the analysis, you may want to see what the experts say:
Should critical illness insurance be guaranteed for a fixed period or for life? 》
1. What's the difference between life-long critical illness insurance and term critical illness insurance?
There are differences between life-long critical illness insurance and term critical illness insurance, which are mainly divided into three types: guarantee time, premium and cash value.
1. Warranty period
For everyone, lifelong critical illness insurance should be very simple to understand, that is to say, it will be guaranteed from survival to death:
Regular critical illness insurance means, for example, 30 or 70 years, until the specified period, and then it is not covered.
2. Premium
The guarantee time will affect the premium of critical illness insurance. Even for the same product and the same conditions, the price of lifetime guarantee is much higher than that of regular guarantee.
The longer the guarantee period, the greater the risk the insurance company bears, and the premium will increase accordingly.
3. Monetary value
Cash value is the amount that can only be obtained when surrender, and long-term critical illness insurance has cash value.
You all want to get a large sum of money when you surrender your insurance, so the higher the cash value, the better.
Generally speaking, the cash value of term critical illness insurance tends to rise first and then fall, and the peak value will not be so high.
Popular products on the market have also been comprehensively calculated by seniors and sisters. At the age of 70, they can get regular critical illness insurance protection, and their highest cash value is lower than the premium paid.
Life-long critical illness insurance is different. The cash value can exceed the premium paid, even very close to the insured amount.
If you didn't want a sense of security at that time, you might as well hand over the money to make your life better in the future.
If you don't understand the value of cash, you can read this article:
Before buying insurance, you must first understand these key knowledge points! 》
From the above, we can know that the cost of regular critical illness insurance is relatively cheap, and the protection of lifelong critical illness insurance is also sufficient, and both have their own advantages.
So which product is better for consumers? Let's continue to understand.
Second, which is better to buy lifelong critical illness insurance or regular critical illness insurance?
For the choice and configuration of lifelong critical illness insurance and regular critical illness insurance, it is best for everyone to decide according to their own budget.
1. Limited budget: buy regular critical illness insurance first.
We all know that the function of buying critical illness insurance is to resist the risk of critical illness.
Although life-long critical illness insurance has many benefits, the premium is much higher than that of regular critical illness insurance.
In the case that the purchase cannot be completed, if you buy lifelong critical illness insurance, you will not be able to buy the appropriate coverage.
The risk is coming, you will find that money is not enough at all! What is the need to think about the future?
Therefore, if the budget is not enough, senior sister still suggests that you buy regular critical illness insurance with higher insurance coverage.
Because insurance is a dynamic configuration process, it can be added later.
If you make up a lifelong critical illness insurance before the age of 60, you don't need to worry about being seriously ill and having no money to spend.
2. Adequate budget: buy lifelong critical illness insurance first.
In the case of sufficient budget, it is of course necessary to have both high insurance coverage and life insurance, so there is no need to be confused.
In fact, the older you get, the greater the chance of getting seriously ill.
If you don't buy lifelong critical illness insurance products, you may not be guaranteed, especially in your most vulnerable old age.
First of all, the older you get, the more expensive the premium is. Secondly, if you want to renew your insurance, you must inform your health status. It is really uncertain whether the physical condition can be successfully insured through health consultation after getting old.
Buying lifelong critical illness insurance will undoubtedly eliminate the above concerns, and I can be a handsome old lady in the future.
Seeing this, if you want to know how to choose critical illness insurance according to the budget, you can supplement this simple and rude product recommendation with different budgets:
Super practical lazy raiders: recommend critical illness insurance with different budgets
Write it at the end
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