What does early payment mean for critical illness insurance?

Early payment of critical illness insurance means that if the insured suffers from a critical illness listed in the policy, the insurer can pay a certain percentage of the death sum insured in advance for medical or surgical expenses, and the deceased beneficiary will receive the remaining part of the death insurance benefit upon death.

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Early payment critical illness insurance is generally attached to life insurance in the form of additional insurance, and in the event of a critical illness and meeting the critical illness payment conditions stipulated in the insurance contract, the death benefit of life insurance will be paid to the customer in advance as a critical illness**.

If the patient is unable to pay the high medical expenses of the hospital, this part of the money can be used to pay for it, and if the patient can afford to pay, the money can be used for post-operative care,** and to subsidize the loss of income during the illness**.

The condition for life insurance claims is death, and if the insured suffers from a serious illness, as long as there is still a breath of air, the claim will not be paid. In order to be more humane, insurance companies have developed early payment critical illness insurance.

If the insured unfortunately suffers from the disease specified in the clause, he can pay the money to the insured in advance, and does not need to wait for the death of the insured.

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What does it mean to pay out critical illness insurance in advance?

The meaning of early payment is not that your policy can pay faster than others, but that you will pay whichever occurs first, critical illness or death.

Critical illness insurance paid in advance is generally an additional insurance, which shares the sum insured with the main insurance, and if the critical illness insurance claims the insurance money, then the insured can get a part of the main insurance premium in the future.

On the contrary, the additional payment of critical illness insurance, this kind of critical illness insurance will not affect the insured amount of the main insurance liability after the claim is settled, and its insured amount is independent and separate from the insured amount of the main insurance, and will not affect the protection of the main insurance. For example, if A buys a life insurance with an insured amount of 1 million yuan and an additional critical illness insurance with an insured amount of 300,000 yuan, and receives an insurance benefit of 300,000 yuan after a critical illness insurance accident, the insured amount of the life insurance is still 1 million yuan.

Early payment is a concept that has priority to protect the rights and interests of the insured person, that is, when an emergency requires high ** expenses or financial compensation is required for emergency medical treatment.

, the insurance company will pay the amount in advance to prevent a critical illness.

Risk, accident insurance.

etc. If you need to pay in advance, you need to provide medical records, medical certificates and other information according to the requirements of the insurance company, and apply to the insurance company for early payment, this way of paying insurance benefits is not based on the actual medical expenses incurred, but the concept of advance prevention, so as to provide the insured with advance protection to win the best time.

Early payment is generally for the main insurance as life insurance, and the additional insurance is critical illness insurance.

In terms of the situation. That is to say, the insurance product includes: main insurance (life insurance) + additional insurance (critical illness insurance), and the death sum insured of the main insurance will be the death insurance amount when the critical illness state agreed in the contract occurs.

Full or partial "early payment" enables the insured to receive timely medical treatment and reduce the financial burden on the family. At the same time, the sum insured of the main insurance is reduced accordingly.

For example, the sum insured for the main insurance (life insurance) is 700,000 yuan, and the additional insurance (critical illness insurance) is 300,000 yuan. In the event of a major illness as agreed in the contract, 700,000 yuan of the whole branch or part (according to the provisions of the contract) can be "paid in advance" according to the regulations.

If 300,000 is "paid in advance", then the sum insured of life insurance will be reduced to 400,000.

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Early payment generally appears in combination insurance, the main insurance is life insurance, and the additional first delay insurance is critical illness insurance, and there will generally be early payment.

In other words, when the insured suffers from a critical illness as agreed in the contract, the sum insured of the death of the life insurance will be paid to the insured in advance. The Critical Illness Sum Assured and the Death Sum Assured are shared, and the Death Sum Assured will be reduced or even terminated in the same proportion after the Critical Illness Benefit Sum Assured is obtained.

In fact, when you buy this kind of combination insurance, if you pay more attention to the protection of critical illness insurance, Senior Sister suggests that you can buy a savings critical illness insurance product separately.

For the same sum assured, the premium of a combination insurance is generally more expensive than that of a separate critical illness insurance, and it may not be as comprehensive as a separate critical illness insurance product in terms of coverage.

Therefore, we might as well buy a separate savings critical illness insurance, which is more cost-effective.

Like Tongfang Global's Versailles Plus Critical Illness Insurance, it not only contains the protection content of mild, moderate and critical illness, but also contains the protection of additional compensation for critical illness. If the insured is diagnosed with a critical illness for the first time before the age of 60 and meets the claim conditions, an additional 80% of the sum insured will be paid, and a certain percentage of the additional benefit will be paid at the age of 60-64.

For those who are more interested in this critical illness insurance, you can take a look at this detailed evaluation of Versailles plus critical illness insurance: Versailles plus critical illness insurance is back, an in-depth review must be seen before buying!

Finally, in order to help everyone be able to buy cost-effective products, the senior sister has also compiled an insurance purchase guide for everyone, you can collect it: [insurance] which is good, how to buy a good deal, hand this Li hand to teach you to avoid these pitfalls of insurance.

Critical illness is paid in advance, generally for the additional critical illness insurance.

Whole life insurance. His main feature is the sum insured.

General. In layman's terms, if a major illness or death occurs first, the one will be paid. When the critical illness state agreed in the contract occurs, all or part of the death sum insured of the main insurance will be paid in advance, so that the insured can receive timely medical treatment and reduce the financial burden of the family.

At the same time, the sum insured of the main insurance is reduced accordingly. The remainder will be paid after death. If the death occurred first, the sum insured of the benefit.

It will be the full sum insured.

In fact, this type of critical illness insurance prepayment insurance, when the compensation is made, only one critical illness and death liability is valid, because their main supplementary insurance amount is the same sum insured.

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Advance payment of critical illness insurance means that if the insured person has an illness as agreed in the insurance contract, he or she can pay the insurance money in advance for medical and surgical expenses. In fact, all critical illness insurance on the market is paid in advance, as long as the insured suffers from the contracted illness and meets the conditions for claims, then a lump sum of insurance can be claimed, which is also called fixed payment insurance.

In addition, there is also a kind of insurance called this reimbursement insurance, for example, medical insurance is known as a reimbursement type, which is not a one-time payment of insurance money after the insured is sick, but a reimbursement of the medical expenses that have been incurred by the insured within the scope of protection, and most of them have deductibles or reimbursement ratio restrictions.

For prepaid critical illness insurance, the main insurance is generally whole life or term life insurance, which cannot be purchased separately. When suffering from a critical illness as agreed in the contract, after submitting the relevant information to the insurance company, the insurance company will pay the insured amount in advance as a critical illness insurance benefit, so that the insured can get the insurance in time and reduce the financial burden of the family.

The advance of the supplementary early payment critical illness insurance is relative to the death or disability liability of the main policy. However, it is worth noting that each insurance company has different regulations on whether the contract is valid after the critical illness claim is paid, and when the sum insured of the main insurance is paid in advance, the sum insured of the main insurance will also be reduced accordingly.

Like ordinary critical illness insurance, early payment critical illness insurance also has a certain waiting period, and the waiting period varies from days to days, and the insurance company will not pay if the insurance occurs during the waiting period. If you want to have death protection, you can choose to buy critical illness insurance with death liability or the main insurance is life insurance with prepaid critical illness insurance to provide protection.

Extended reading: [Insurance] How to buy, which one is better, teach you to avoid these insurance"pits"

With the intensification of environmental pollution and the gradual increase in the incidence of critical illness, more and more people have realized the importance of critical illness insurance and have begun to plan how to pass on the risk and obtain protection by purchasing critical illness insurance. So, what does it mean for you to know the critical illness judgment and early payment? The following is an introduction to the early payment of critical illness, let's take a look at it.

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1. What does it mean to pay for critical illness in advance?

Paying for critical illness in advance is actually a foreign product, which is described in English as accelerated critical illness, commonly known as ACI, and accelerate means acceleration, which translates into advance, which is indeed easy to cause ambiguity. Some people say that early payment means: if you have a serious illness, you can pay first and then see a doctor with a diagnosis certificate.

It is inaccurate and misleading.

1. The correct understanding of early payment for critical illness should be:

For products that include both life insurance and critical illness protection, the life insurance amount insured for death will be paid "in advance" when a critical illness as stipulated in the contract occurs. In other words, the Critical Illness Sum Assured and the Death Sum Assured are shared, and the Death Sum Assured will be reduced or even terminated in the same proportion after the Critical Illness Claim is paid.

2. Corresponding to the early payment is the additional payment:

The Critical Illness Benefit is a stand-alone benefit that does not affect or reduce the Death Sum Assured. Early payment and additional payment have their own advantages and disadvantages, early payment, the premium is cheap, but the total coverage amount may not be high; The additional benefit is high, but the premium is also relatively higher. Always remember the saying that there is no such thing as a free lunch in the world, and the wool comes out of the sheep.

2. Examples of early payment of critical illness hand insurance

All prepaid critical illnesses are in the form of supplementary insurance, and the main insurance is generally a comprehensive life insurance or a lifetime participating life insurance. The so-called early payment refers to the "early" payment of the death sum assured of the main life insurance policy when the critical illness risk listed in the clause occurs, and the sum assured of the main insurance is reduced accordingly. For example, if the sum insured of the main insurance is 300,000 yuan (300,000 yuan in the event of death), and the additional critical illness is 100,000 yuan in advance, then if a critical illness occurs, it is 100,000 yuan, and the life insurance amount is reduced to 200,000 yuan.

If there is no critical illness and death, it will be paid according to 300,000 yuan of the life insurance sum assured. Because it occupies the amount of the main life insurance, the rate of early payment for critical illness is generally very low. If the sum insured of the main and supplementary insurance is the same, it can be understood as critical illness insurance with death liability.

There is also a simple critical illness insurance, or the main insurance is supplemented with critical illness insurance (non-prepaid, self-insured). If there are both, there is no conflict or contradiction, and the risk will be compensated according to the respective amount of protection. As for how to supplement, it should be judged comprehensively according to physical condition, family disease history, past disease history, physical examination status over the years, existing coverage, and the degree of concern about hospitalization medical risks.