Critical illness insurance refers to the commercial insurance activities handled by insurance companies with specific major diseases as the insurance subject, such as malignant tumor, myocardial infarction, cerebral hemorrhage, etc. , as the insurance object. When the insured suffers from the above diseases, the insurance company will give appropriate compensation for the medical expenses. According to whether the premium is returned, it can be divided into consumption-oriented critical illness insurance and return-oriented critical illness insurance.
Legal basis: Article 10 of People's Republic of China (PRC) Insurance Law is an agreement between the insured and the insurer on insurance rights and obligations. The applicant refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay the insurance premium according to the contract. An insurer refers to an insurance company that has entered into an insurance contract with the applicant and is liable for compensation or payment of insurance benefits according to the contract.