Is it okay to only buy life insurance without critical illness insurance, which is more important?

If the two types of life insurance and critical illness insurance must be prioritized, then the advice given is: allocate critical illness insurance first, and then life insurance.

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1. Prioritize the allocation of critical illness insurance.

A serious illness can still have a very big impact on a family. For example, loss of income due to being unable to work after illness; **Nutrition expenses, nursing expenses and other expenses during the conditioning stage; household liabilities such as housing loans and car loans; fixed expenses for the normal operation of the family, etc.

Because of illness, these expenses will cause a heavy burden on the family life due to the sharp drop in income. Therefore, regardless of the age stage, it is particularly important to have a critical illness insurance protection.

2. Configure life insurance.

Life insurance can prevent the death of a family's breadwinner from hitting the family hard. Therefore, those who bear the responsibility of the family's financial income should be equipped with life insurance, especially the financial breadwinner of the family. For groups whose financial responsibilities are not particularly heavy, such as children and the elderly, they generally do not need to bear family financial responsibilities and do not need to configure life insurance.

So when it comes to configuring an insurance plan, life insurance is not something that everyone needs.

Consumers who want to choose the most suitable insurance can consult Mint Bao, and the Mint Bao certified sales consultant must have both CBIRC qualifications, bachelor degree or above, and more than 1 year of insurance experience. At present, more than 90% of the consultants have obtained industry qualifications such as MDRT and AFP CFP, and have an average of 500+ family insurance planning consulting experience.

Life insurance and critical illness insurance cannot replace each other, if the economic level is limited, you can allocate critical illness insurance first.

Only by starting from their own needs and according to their actual situation, reasonable planning can give themselves sufficient and comprehensive protection.

The connection and difference between life insurance and critical illness insurance: Life insurance can be divided into term life insurance and whole life insurance according to the length of protection time, because term life insurance is a consumption-based life insurance, and the premium is lower than that of whole life insurance, and whole life insurance generally has a savings function. Term life insurance is suitable for families with limited income, who can trade a small premium for a higher sum insured, while whole life insurance is suitable for families with better financial conditions.

Critical illness insurance is the protection of critical illness, the biggest feature is that the diagnosis is paid, there is also a difference between lifelong and fixed, specific can be selected according to the needs of the policyholder, although the incidence of critical illness has become higher, but most of the critical illness rate is also getting higher and higher, of course, there is enough money in the middle to guarantee, and critical illness insurance can just solve this problem.

Term life insurance is only for death, and it cannot be paid for critical illness, and it cannot replace the protection of critical illness insurance, of course, life insurance also has its advantages, for family pillars with heavy family responsibilities, a suitable critical illness insurance can also provide protection for the family, and the premium is lower. After clarifying that the two cannot replace each other and their respective advantages, you can choose the appropriate protection according to your own needs.

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In addition, the premium and sum insured have been determined when applying for term life insurance, and the specific amount to invest will usually be fixed and will not change.

For example, 30-year-old Xiao Li bought a term life insurance with an insurance amount of 1 million, and he would pay 1 million if he went out of insurance; If the initial premium is 1,000 yuan, then Xiao Li can pay 1,000 yuan every year.

Guaranteed for life, that is, the ** of whole life insurance, no matter how old you are, there will always be a day when you pass away, and you will be compensated if you buy life insurance.

So whole life insurance is not only this function, but also cash flow planning tools and wealth inheritance, all of which are its functions.

According to the relevant provisions of the law, if the death compensation is the designated beneficiary, it has nothing to do with the inheritance, and ordinary families do not buy life insurance for the purpose of wealth inheritance, but more to prevent the family from having no financial support.

Therefore, Senior Sister recommends that you buy regular life insurance, and it is recommended to buy whole life insurance!

This is the case, but there are more and more term critical illness insurance products on the market, how to choose a good term critical illness insurance product? Learn from my sister to teach you a few methods!

3. How to choose a life insurance product?

1. There are few restrictions on insurance conditions.

For a good life insurance, the more relaxed the health notice, the lower the insurance threshold, and the greater the chance of underwriting!

There are about three health notices for common life insurance on the market, and if you encounter a life insurance product with more than three health notices, the insurance threshold is relatively high.

Senior sister has found ten life insurance policies with more relaxed insurance conditions, hurry up and collect: the top ten life insurance companies worth buying!

2. The amount of insurance without physical examination is high.

Leaving a sum of money for the family is the ultimate role of life insurance, what is the most suitable amount of insurance for yourself?

The senior sister is calculated according to the formula of a family's debt situation + monthly living expenses to parents * 12 * (85 - parent's age) + children's annual parenting and education expenses * (25 - children's age).

The family's mortgage, car loan, living expenses, parental support, and the cost of education for children to attend school are all shown in the above formulas.

Therefore, for this family, if the budget is sufficient, there is no medical examination, and the higher the insurance amount, the better, so as to ensure that you can leave a sufficient amount of money for your family after you fall.

3. Choose products with cheap premiums.

Term life insurance is not so difficult to cover liability nowadays, and it pays out in the event of total disability and death.

If you are in good health and have a safe occupation to buy term life insurance, there is no need to choose such a high product in terms of premium!

It is better to buy separately for the following reasons:

There are many critical illness insurance in the market, how to choose the right critical illness insurance for you? An insurance advisor who has been in the industry for decades can give you the answer "Super Practical Lazy Guide: Critical Illness Insurance Recommendations for Different Budgets!" See which one is right for you? 》

The difference between life insurance and critical illness insurance.

1. It has different basic meanings.

Critical illness insurance does not cover all illnesses. Contractual compensation can only be received if the parties specify a critical illness in the agreed contract, and its insurance standard is the health of the person. The standard of life insurance is human life, that is, if the insured dies or is completely disabled within the agreed period, the insurance company compensates the agreed compensation.

2. Different payment methods.

If the insured receives compensation, the insured needs to meet the main diseases specified in the contract and can apply for compensation in accordance with the contract. Life insurance is paid in the event of the death or total disability of the insured.

3. The basis for calculating premiums is different.

Critical illness insurance is the basis for calculating critical illness premiums, while life insurance is based on mortality. The incidence of major diseases is extremely volatile relative to the probability of accidents and deaths, so the risk of critical illness insurance is relatively large.

4. The scope of protection is different.

Under the same conditions, the coverage of life insurance is relatively narrow, and it is only liable for death or total disability, regardless of the cause of an accident or illness. Critical illness insurance is covered as long as you have a critical illness under the contract.

By comparing the various items, we can see that each type of insurance has different biases. It contains different products in terms of personal insurance types. For example, life insurance has general life insurance, term life insurance, etc., and the most important thing is to see the end result and what is the reason for this result.

As for which product is suitable to buy, this should be purchased according to your own needs, professional analysis and budget, and you should also find a professional insurance professional to provide reasonable advice or make a corresponding plan according to the analysis report.

You can choose the sex match according to your family conditions. Critical illness insurance with death liability is equivalent to the responsibility of a life insurance policy, and the proportion of the sum insured of critical illness insurance and life insurance needs to be reasonably matched according to family conditions.

The difference between life insurance and critical illness insurance.

Many people will also buy commercial medical insurance in the case of social medical insurance, because social security is the most basic means of protection, and commercial insurance is a supplement to social security. In fact, it can be seen from the following points:

1. The basic meaning is different. In fact, critical illness insurance does not include all diseases, only the parties have specified the critical illness in the agreed contract, in order to obtain the compensation agreed in the contract, and its insurance object is human health. The subject matter of life insurance is the life span of a person, that is, if the insured dies or becomes totally disabled within the agreed period, the insurance company will compensate the agreed compensation.

If the insured person is safe and sound, the insurance contract is terminated. To put it simply, critical illness insurance = illness insurance (compensation for critical illness agreed in the contract), life insurance = life protection (compensation for death or total disability).

2. Different payment methods. The insured person who is compensated by critical illness insurance must suffer from the critical illness specified in the contract agreed by both parties in order to apply for compensation according to the contract. Life insurance is payable only when the insured person dies or becomes totally disabled.

3. The basis for calculating insurance premiums is different. Critical illness insurance is based on the incidence of critical illness as the basis of premiums, while life insurance is based on mortality rates. Compared with the mortality rate, the incidence of critical illness is highly volatile, unstable, and the time period in which the insurance is generated, so the risk of critical illness insurance is relatively large.

At present, most of the critical illness insurance products in the domestic life insurance market include death liability, which reduces the operating risk to a certain extent.

4. The scope of protection is different. Under the same conditions, life insurance has a narrower coverage and only covers death or total disability, regardless of whether the cause is an accident or illness. Critical illness insurance will be paid as long as you suffer from a critical illness as agreed in the contract.

It is necessary to buy a critical illness insurance first, and people with certain financial ability conditions can apply for both, but you must choose the most suitable insurance product for yourself when applying for insurance, and it is recommended that you make a comprehensive comparison and choice based on your actual age and health protection needs.

If you're not sure whether you should choose critical illness insurance, here are a few questions to ask yourself:

1. What is your health?

Before buying protection insurance, you need to truthfully inform your health. Generally speaking, the health notice of medical insurance is stricter than that of major illness insurance. And the waiting period for critical illness insurance is 90 days, so if you don't feel like you're in good shape, the sooner you get it, the better.

2. What is your financial situation?

As far as the level of medical care is concerned, once a critical illness occurs, the basic ** cost is about 300,000-500,000 yuan, and the critical illness has a 5-year ** period, if you can take out this part of the funds in a short period of time and it will not affect your normal quality of life, you can not consider it.

3. What problem are you trying to solve?

The allocation of insurance must vary from person to person, and it is necessary to understand your own needs and risks clearly, so that you can choose the right insurance for yourself. If you just want to cover the medical expenses incurred by hospitalization due to regular illness, then you can deal with it by configuring medical insurance. However, if you are worried that you have a serious illness and have no money to pay off your mortgage, car loan, raise children, support the elderly, and various living expenses, you can buy yourself a critical illness insurance.

In this way, when the risk is suitable, you can get a high amount of compensation at one time, so as to ensure that the family's living standard will not be affected in the next 5 years, and you can recuperate with peace of mind.

For children and the elderly, the necessity of life insurance is not strong, but for adults with family responsibilities, it is necessary to allocate one in the first place, and the main reasons are as follows:

1. Deal with the risk of death.

Life insurance is a product that takes the death of the insured as a condition of payment, whether the insured dies due to illness during the insurance period, or dies accidentally, or even commits suicide after 2 years of insurance, the claim can be paid to the beneficiary or heir of the policy after his death.

2. Reflect family responsibilities.

If the breadwinner of the family dies, the family's income will be interrupted, and the family's livelihood may not be secure in the future. Nowadays, many adults not only have to raise children, but also support their parents, family responsibilities are heavy, if you configure life insurance, in case of your unfortunate death, you can also leave a sum of money for your family, for their later life to provide a certain economic basis.

3. Deal with the risk of liabilities.

Many people are burdened with car loans, home loans, arrears, etc., and in the unfortunate event of their death, these debts will fall on their families, who will not only have to bear the pain of losing their loved ones, but also have to pay off the debts later, adding to their burden.

4. The relative isolation of debts can be realized.