Because Alipay's critical illness insurance is one year, which is cheaper than long-term insurance. However, if the product is discontinued or the health status changes, it may affect the renewal of the warranty next year. People are always greasy when they reach middle age. If you have diabetes and high blood pressure halfway, you can't renew your insurance, which also delays buying other long-term critical illness insurance. Therefore, it is no problem for this one-year product to cope with short-term budget shortage and lack of protection. If the budget is enough, try to buy long-term critical illness insurance.
Short-term critical illness insurance is cheap, but this product just looks cheap. Unlike long-term critical illness insurance, which is calculated at a balanced rate, one-year products basically adopt natural rates. In other words, prices will change with age. Although it was cheap when I was young, it will become more and more expensive in the future. When you get older, the risk will soar. Looking at its price, you can feel that the world is very hostile to you. Take the critical illness insurance of good medical insurance as an example. When you renew your insurance at the age of 60, the rate of buying 300 thousand insurance coverage is as high as 7700 a year. Even in the long run, if all of them reach the age of 70, the total cost will far exceed the century-old Conway insurance with similar protection, and even it is not impossible for the premium and the insured amount to be upside down. So if you choose to buy a short-term serious illness every year, it will not be cheap at all.
Generally speaking, the advantages of critical illness insurance, rate, and the looseness of small medical insurance and good medical insurance underwriting are really attractive, but they are only suitable for supplementing overuse. For young people who have just graduated with a small budget, or those who have bought long-term critical illness insurance but want to increase their insurance coverage through one-year insurance, it is quite cost-effective. From the perspective of long-term planning, as long as the premium allows, we must switch to long-term critical illness insurance as soon as possible, without worrying about renewal. For example, when you are 70 years old, this kind of long-term insurance will not affect the insurance you have already purchased regardless of personal physical changes or product suspension, because the guarantee time has been determined when the contract comes into effect, and it is a long-term contract.