Why should endowment health insurance be insured before the age of 50?

It has been learned from many life insurance companies that the maximum insured age of most accident insurance in the market is limited to 60 years old, and the renewal age is only extended to 69 years old at most. At present, there are few insurance products specially designed for the elderly in the insurance market of our province. There are two main types of products involved in endowment insurance, one is accidental injury insurance and the other is long-term life insurance. However, even if the elderly have insured these two types of products, they are also faced with harsh conditions set by insurance companies.

The first is the age limit. At present, the insurance products on the market are limited to people under the age of 60, with the maximum being no more than 65 and the minimum being only 55. Followed by a high premium. Generally speaking, the older the insured, the higher the premium. Wu Jiayu, senior director of Great Wall Insurance Henan Branch, believes that endowment insurance is very risky for insurance companies; In addition, the insurance premium rate for the elderly is high. At present, the overall insurance rate in Henan market is not high, and the insurance rate for the elderly population is even lower. Insurance companies are unprofitable in the short term and dare not rashly enter this field. Therefore, middle-aged and elderly people should get insurance as soon as possible.

Under the existing circumstances, how to insure the elders at home? "From the perspective of cost and benefit, the insured should be insured before the age of 50." A person in charge of a life insurance company said that the rates of many life insurance products increase with age. In this case, the insurance premium of the elderly will be "upside down", that is, the sum of the total premiums paid by the insured after the expiration of the payment period is less than the sum of the guarantees and benefits that the insured can obtain. People over 50 buy critical illness insurance. If they pay all the insurance premiums in one lump sum, they might as well prepare their own money to meet the future medical expenses.

So how do people over 50 get protection through insurance? Industry insiders told reporters that accident insurance can be considered first in view of the characteristics of middle-aged and elderly people. While purchasing accident insurance, you can also purchase additional insurance such as accident medical treatment, hospitalization expenses compensation and operation expenses at the same time to provide comprehensive protection for the elderly.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.