The difference between health insurance companies and life insurance companies: health insurance companies mainly engage in health insurance, while life insurance companies mainly engage in life insurance business. Health insurance is an insurance that provides health protection for the insured, and life insurance is an insurance that pays insurance money for the insured's survival or death. In terms of product form, health insurance requires health examination before insurance and health investigation during claim settlement, which is more risky than operating health insurance. On the other hand, life insurance is mostly long-term insurance, and insurance companies need to make long-term planning for the premiums collected.
In fact, health insurance is mainly based on the insured's body. In case of income loss and medical rehabilitation expenses caused by accidental injury or illness, the insurance company will provide certain economic compensation or pay certain health insurance benefits. Health insurance is sometimes called sickness insurance or medical insurance. According to the different types of payment, it can be divided into critical illness insurance, medical expense insurance and income compensation insurance.
Life insurance, on the other hand, is a kind of insurance with life and death as the insurance object. Mainly refers to the insured's survival or death during the insurance period, and the insurance company pays certain insurance money according to the contract. Life insurance can be divided into whole life insurance, death insurance and old-age security, or term life insurance and whole life insurance. Therefore, health insurance companies and life insurance companies are actually companies that do health insurance and life insurance respectively.
Which is more important, health insurance or life insurance? So after understanding the difference between health insurance and life insurance, which of these two types of insurance is more important? In fact, it depends on the different security needs of individuals. For example, health insurance may be more important than life insurance for children. It is very necessary for young people who need to support their families to buy life insurance. To sum up, health insurance companies and life insurance companies are very different because of the different main types of insurance.