Why don t you buy insurance for parents over 50?

First of all, under normal circumstances, it is not recommended to "do not buy insurance for parents over 50 years old", but "do not buy critical illness insurance for parents over 50 years old". As for the reason, everyone listened to the senior sister slowly

First of all, the premium of critical illness insurance has a lot to do with the age of the insured. All other things being equal, the older the insured, the more premiums will be paid under the policy. And the older you get, the more likely you are to have a "premium inversion" (i.e. the premium paid exceeds the sum insured).

Therefore, we generally do not recommend people over the age of 50 to apply for critical illness insurance, because the cost performance is too low. However, this group of people can purchase cancer insurance instead of critical illness insurance. If you don't know what cancer insurance is, you can read this article:

What is cancer insurance, how to buy it, which one is good, comprehensive analysis, comparative evaluation.

So, what else do we need to buy when we configure an insurance plan for parents over 50 years old?

Accident insurance must also be bought, because accident insurance can transfer the economic risk caused by accidents, everyone has the possibility of accidents, and parents must be protected in this regard.

In addition, if you can, try to help them buy a medical insurance, after all, the parents are old, and their physical functions will also decline, and it is inevitable that there will be some minor illnesses and pains, and medical insurance can be responsible for reimbursing the medical expenses incurred by hospitalization. When buying medical insurance, you must pay attention to the renewal issue, you can see this article for details: How to renew medical insurance, what should I pay attention to?

Analysis in one article!

Some people may think that it costs a lot of money to buy insurance for parents over 50 years old, so they have the idea of not buying it, but in fact it is the wrong choice. Although it is more expensive to buy insurance as you get older, the higher the probability of illness and accidents the older you are, and the more you need to buy insurance for your parents to gain the ability to transfer financial risks.

Before buying insurance for parents over 50 years old, you can take a look at this dry article: what is the insurance for the elderly, what insurance is good for parents, you need to know these things.

Why don't you buy insurance for parents over 50 so easily? Because with the increase of parents' age, the premiums of many insurance policies will become more and more expensive, and it is easy to invert the premium, coupled with the gradual decline of parents' physical functions, it is possible that they may not be able to successfully apply for insurance when they encounter products with health notices. Therefore, when buying insurance for parents who are 50 years old, you must do more homework and think carefully before starting.

Here the senior sister has prepared a dry goods, which will mention what issues to pay attention to before applying for insurance: Before buying insurance, you must first figure out these key knowledge points!

In addition, for parents over 50 years old to allocate insurance, it is more appropriate to choose medical insurance, critical illness insurance, cancer insurance, and accident insurance.

First of all, medical insurance can reimburse the contractually ** expenses incurred due to illness. Parents who are over 50 years old and have occasional minor physical problems and need to be hospitalized**, then medical insurance has the opportunity to play a role in reducing the financial loss of the insured.

Secondly, critical illness insurance mainly provides protection for critical illnesses, but for people over 50 years old, it may be affected by factors such as age and physical condition, and it is difficult to find a suitable critical illness insurance.

Therefore, if you really can't find a critical illness insurance suitable for your parents, you can consider buying a cancer insurance to add protection to your parents, after all, cancer is one of the most common critical illnesses, and having a cancer insurance can also make your parents' lives more at ease.

Finally, parents over the age of 50 face many accident risk factors in their lives, such as falls, slips, burns, etc., so it is necessary to configure an accident insurance, and many accident insurance has a wide range of insurance ages, which is very friendly to parents over 50 years old.

Parents over the age of 50 who buy insurance may not meet the age requirement and may not be able to pass the health notice.

If you can configure the appropriate critical illness insurance and million-dollar medical insurance, you should arrange it as soon as possible, and if you can't buy it, you can also consider taking out cancer insurance or cancer medical insurance. In addition, accident insurance must be configured.

If you want to know how to buy your parents' insurance, you can take a look at this article: what is the insurance for the elderly, what is the best insurance for your parents, you need to know.

If you buy insurance easily, you may not be able to buy the right insurance, and because your parents are in their fifties, there may be an inversion of the premium when you buy some insurance.

If you want to buy insurance for your parents in their fifties, you can choose these types of insurance, such as cancer insurance, accident insurance, and medical insurance.

Cancer insurance, as the name suggests, is an insurance that only covers malignant tumors, and its protection liabilities usually include carcinoma in situ, malignant tumors and specific cancers. It is important to know that cancer insurance is different from critical illness insurance, it is cheaper, and the health notice is more relaxed, even the elderly in their seventies can be insured.

Accident insurance, common protection liabilities include accidental death and disability, accidental medical treatment, traffic accident death and disability, etc. As parents get older, their physical flexibility is getting worse and worse, and the probability of accidents is increasing. Therefore, the configuration of accident insurance is very necessary.

And most accident insurance does not require health information, so even if the parents have a little health problem, there is no need to worry.

The last one is medical insurance. As parents get older, their physical functions are decreasing, and the probability of getting sick is increasing. With medical insurance, it can not only be used to reimburse the medical expenses required for hospitalization when some illnesses are present, but also allow parents to be more confident to accept the good **.

Finally, the senior sister has sorted out some articles for you to buy insurance for your parents, if you are interested, you can understand: what are the [old people's insurance] and what insurance is good for your parents, you all need to know.

Accident Insurance: Top Priority.

For parents with declining physical fitness, accident insurance with low premiums and high insurance amounts is an absolutely indispensable item.

Most of the traditional accident insurance can only cover up to the age of 65, because the elderly have a high risk of accidents, which is obviously a hot potato for insurance companies. But in recent years, things have changed.

First, many insurance companies have developed special accident insurance products for the elderly, and the coverage age exceeds 65, which can be insured until the age or even without an upper limit, and it will not be too high. Although the sum insured is not high, it is still enough for general fractures and gas accidents.

Second, the first authorities are also constantly promoting the accident protection of the elderly, such as the "Silver Age Health Action" launched by Guangdong Province last year, which is funded by the first to buy accident insurance for the 80+ elderly, and the children can also go to the corresponding insurance company at their own expense to insure their parents over 60 years old.

All in all, the accident insurance for parents is the most important and easy to buy.

Critical illness insurance: expensive, really expensive.

When you have the awareness and ability to buy insurance for your parents, your parents are at least 50 years old, and the higher the age, the lower the leverage ratio between the premium and the sum insured, and then there will even be a situation where the premium is inverted (paying more than taking).

Not to mention lifetime critical illness insurance, even young people are ridiculously expensive to insure, and even if the elderly can buy it, it is very cost-effective.

Therefore, Chick does not recommend that you pay a higher fee to buy critical illness insurance for your elderly parents. With a limited budget, it may make more sense to keep the elderly at risk of illness and focus on supporting the family's breadwinners.

Medical insurance: There is social security, not necessary.

If your parents do not have social security, then a hospital medical insurance plan is still necessary for them, but age is also a threshold.

Generally speaking, it is more difficult for 60+ people to buy medical insurance, and medical insurance is usually purchased year by year, even if the renewal clause is ***, it will be insured until the age of 70 at most. For the elderly over 70 years old, the medical risk can only be kept by themselves in addition to medical insurance.

Therefore, although the protection is a little weak, but in the critical period, medical insurance is still very useful.

As for pension or savings and wealth management insurance, they are usually incredibly expensive, unless you have a lot of money, it is better not to consider it first.

Seeing this, you should understand that for elderly parents, insurance can actually do much, after all, insurance must be bought as soon as possible.

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

1. Critical illness insurance.

From the perspective of demand, it is necessary, but the premium is more expensive, and even upside down, that is, the cumulative premium will eventually exceed the insured amount, and the income does not need to be counted on.

2. Accident insurance and accident medical insurance.

The elderly are more suitable for buying, usually bumps more, this kind of protection is essential, even if there is social security, it can also supplement the lack of fiber that does not insure accidents, and the rate is lower, a few hundred yuan per year can get good protection, it is recommended to buy;

3. Endowment insurance.

People over the age of 50 are no longer recommended to buy, the income is not as good as bank savings, and it is more suitable to keep money in the bank or invest in some ** products with stable income.

To sum up, if you have more funds and value the protection function, it is recommended to purchase a combination of critical illness insurance + accident insurance + medical insurance for your parents; If you are on a budget, you can plan for accident and accident medical protection for your parents. In addition, it is reminded that the health of children is the greatest protection for parents, and it is recommended to consider improving their own protection while purchasing insurance products for parents.

The most important thing for the 50+ elderly is that critical illness is the priority, but there is one point, because the 50+ years old will end up inverting in the case of peace and security (that is, the total amount of money you spend on buying will be more than the amount of protection you buy and the final cost). The lost part should be treated as a donation.

Then there is medical care, because medical care for the elderly is very necessary. A good part of the money that everyone earned when they were young was spent on medical care in their old age.

In terms of pension, you must not buy it for the elderly, or buy annuity insurance for self-destruction or children, and the elderly will receive the money. In this way, the payment is cheap, and the young people are secure, and they can still take care of the pension problems of the elderly. And when the old man doesn't want to receive it, he can still get it.

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