What is the difference between consumer insurance and what are the different types of consumer insur

Consumer-based insurance is a kind of consumer-based insurance, that is, the customer (policyholder) signs a contract with the insurance company (insurer), and if the insured accident agreed in the contract occurs within the agreed time, the insurance company will compensate or pay according to the originally agreed amount; If the insured event does not occur within the agreed time, the insurance company will not refund the premium.

There are many types of insurance, and most people don't know what is the reason to buy them? Then you can open this link, where Daddy answers this question in detail. Top 10 Reasons Why You Should Buy Insurance? How is insurance configured? 》

Difference Between Consumer Insurance and Savings Insurance:

Consumer-based insurance is mainly the word "consumption", including the level-level rate and natural rate, the premium rate is generally not too high, ranging from tens of yuan to hundreds of yuan per year, and the agreed amount of insurance will be paid if the specified insurance accident occurs within the protection period; If nothing happens, the insurance company will not refund the money, and the premium will be consumed. This article lists the advantages and disadvantages of 10 types of consumer-based critical illness insurance, and those who are interested in learning about it can take a look: "10 Consumer-based Critical Illness Insurance Reviews:

There's always one that hits you

Savings insurance, also known as return insurance, needs to pay more premiums every year in exchange for the protection during the insurance period and the return after the agreed period, if there is no accident during the insurance period, the insurance company will return a sum of money to the customer at the agreed time, which can be used as insurance money, and if there is an accident during the insurance period, the insurance amount will be paid.

If you don't know whether you are suitable for consumer insurance or savings insurance, you are welcome to consult a professional planner for free to solve your insurance problems

Consumer insurance has its advantages but also disadvantages, it is born for different needs and is not suitable for everyone. When you apply for insurance, you should pursue the maximum benefits of insurance within the premium budget is the best insurance choice.

What is consumer insuranceHello; Consumer insurance, similar to car insurance. But there are differences. The main thing is what kind of consumer insurance do you need?

Accident, Term Life Insurance, Term Critical Illness? As far as term critical illness insurance is concerned, it is consumer insurance, which can save a lot of money every year compared to returning critical illness insurance, and how much can you accumulate in 20-30 years if you save the money yourself? After 20-30 years of peace, are you still worried that there is no money in your account?

Only by understanding the essence of insurance can you buy the right insurance! Make the right choice with your wisdom! My understanding - buying insurance is consumption!

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

The difference between endowment insurance and consumer insurance.

There are two types of insurance on the market: one for consumption and one for return.

Today's problems are mainly consumer-oriented, and consumer-based insurance is nothing more than the following.

1. Consumer accident insurance.

Accident insurance is so implicated in the name is to protect against emergencies, not the ability of people can be transferred, as large as the traffic accidents that occur every day, as small as the cat scratches around you, dog bites are all accidents, this is a consumer-based insurance.

2. Consumer-based critical illness insurance.

Critical illness insurance is one of the most commonly heard of stroke sequelae, major heart organ transplantation, kidney failure, malignant tumor, acute myocardial infarction, benign brain tumor, and severe brain injury. It's basically consumable.

3. Consumer-based medical insurance.

The insurance that is based on the hospital invoice is medical insurance, and the premium is not refundable.

4. Consumption-based term life insurance.

Term life insurance is an insurance that stipulates the protection period, and the agreement with the insurance company when you sign the contract is written in the insurance contract and has legal effect. It is also consumer-oriented.

The advantages and disadvantages of consumer insurance are as follows:

1. Advantages: The premium is low, but the leverage ratio is large, and you can get high protection with less premium; The duration of the coverage is more flexible, you can choose 10 years, 20 years, or up to x years of coverage, etc.

2. Disadvantages: The guarantee period is short, and after the product expires, you must buy it again if you want to continue to get protection; The changes in insurance types and rates are relatively fast; If your health condition changes, you will not be able to buy it if you are not eligible for insurance.

Expansion cycle: 1. Consumer-based insurance is a kind of consumer-based insurance, that is, the customer (policyholder) signs a contract with the insurance company (insurer), and if the insured accident agreed in the contract occurs within the agreed time, the insurance company will compensate or pay according to the originally agreed amount; If the insured event does not occur within the agreed time, the insurance company will not refund the premium paid.

2. Consumer-based insurance includes the equalized rate (the premium for each period is equal to the amount of the premium during the payment period) and the natural rate (the premium is adjusted annually with the increase of age).

3. Its ** is generally not high, and the premiums of various products range from dozens of yuan to hundreds of yuan a year to deal with various sudden risks. Even if the financial income is temporarily interrupted during the payment process, this protection will still be effective during the period, and there is no need to worry about the pressure of renewal payment like savings insurance, and it will not affect their personal quality of life.

4. With sales channels.

With the expansion of electronic payment and the prevalence of electronic payment, customers can complete insurance through insurance marketers, insurance companies, insurance intermediaries, online direct sales, sales and other channels. Consumer insurance in the market often appears in the form of "simple insurance cards and electronic insurance policies".

5. Reimbursement of consumption-based hospitalization expenses Allowance insurance generally does not guarantee renewal, or only promises to guarantee renewal within a limited period. During the coverage period of the consumption-based hospitalization expense reimbursement subsidy insurance, if an insured accident occurs, whether the consumer-based insurance will continue to be in effect will be confirmed after re-underwriting by the insurance company.

6. For example, if the insurance has a clause of "guaranteed renewal within 5 years", the benefits will continue to be valid in the following year, and the second underwriting will be carried out by the insurance company after 5 years to confirm whether it continues to take effect.

The main advantage of consumer-based insurance is that the premium is relatively cheap, but because it is not a product that protects life, or may not carry death protection, consumer-based critical illness insurance will be weaker than savings critical illness insurance in terms of the certainty of compensation. In addition, if the protection of a consumer-based critical illness insurance is in place, it is also an advantage. So what kind of critical illness insurance is in place?

Guolian Life Darwin No. 7 (guaranteed to the age of 70 without death benefit version) is a very cost-effective consumer-based critical illness insurance on the market, with a minimum of a few hundred yuan, but the specific premium will be affected by various factors such as the age of the insured, the payment period, and the amount insured. In addition to the compensation of 30% and 60% of the basic sum assured, this critical illness insurance also provides special optional liabilities such as malignant tumor or carcinoma-in-situ extended insurance benefit, specific cardiovascular and cerebrovascular disease extended insurance benefit, etc., which can be purchased by consumers if they have relevant protection needs. In addition to Darwin No. 7, these critical illness insurance policies are also relatively popular products:

Top 10 Popular Critical Illness Insurance Points Worth Buying!

In addition to paying attention to the protection responsibility, we must remember to buy enough insurance when we apply for insurance, so that we can have more confidence to face unknown economic risks. Generally speaking, the insurance amount of 500,000 yuan is more reasonable, which should include 300,000 yuan of medical reserve and personal family economic income for about 2 years. How much should I buy for different types of insurance?

Let's take a look at what industry insiders say: how much insurance is appropriate? Let's talk about the doorway inside.

The advantage is that the premium is generally cheaper, and the disadvantage is that the insurance period may be shorter, and if the insurance period is included, the premium cannot be refunded.

When applying for insurance, you can consider it according to your actual protection needs and economic situation.

In addition, there are also savings and return insurance, if you are interested, you can read the following to understand: what is the difference between consumption, savings and return insurance? Which is the best deal?

Medical insurance, accident insurance, and some online critical illness insurance are all consumer products. The common denominator of consumer products is that they have no cash value.

As the name suggests, it is a kind of consumption-based insurance, that is, the customer signs a contract with the insurance company, and if the insured accident agreed in the contract occurs within the agreed time, the insurance company will compensate or pay according to the originally agreed amount; If the insured event does not occur within the agreed time, the insurance company will not refund the premium paid.

Simply put, consumer insurance means that if we don't use insurance, then our premiums will be paid in vain, and such insurance is consumption-based.

Consumer insurance is just a conventional name, and there is no formal definition, and the definition of consumer insurance is different at different times and in different people's mouths.

There are only two common features of them:

Premiums are not refunded.

CheapThe biggest advantage of consumer insurance is that it does not cost money in vain.

Purchasing a return-type insurance can be understood as purchasing two accounts at the same time - a "protection account" and a "wealth management account".

"Protection account" is the amount of money we should actually spend to buy insurance.

"Wealth management account" is the extra money we spend to manage our finances.

To be honest, there's nothing wrong with this setting, the question is"Wealth management accounts"The yield is not high.

The design of insurance products is subject to the predetermined interest rate, and the current predetermined interest rate limit of insurance products is that there are many return insurance predetermined interest rates, which means that the return of insurance is destined to be very low.

The disadvantage of consumer insurance is that it shortens the coverage time.

The older a person gets, the more likely they are to get sick, and the more expensive the corresponding insurance is. So there are a lot of restrictions on wanting to re-insure.

Although not all return-based critical illness insurance covers such a frustration, of course, there are thousands of good products, and whether they are suitable for you depends on your own needs and budget.

Consumer-based insurance is a contract signed between the customer (policyholder) and the insurance company (insurer), and if the insured accident agreed in the contract occurs within the agreed time, the insurance company will compensate or pay according to the originally agreed amount; If the insured event does not occur within the agreed time, the insurance company will not refund the premium paid.

Consumer-based medical insurance for accidental injury or accidental injury, consumer-based critical illness insurance, consumer-based term life insurance, consumer-based hospitalization expense reimbursement or allowance insurance, and travel or study abroad comprehensive protection insurance are all types of consumer-based insurance.

For example, when you need to take a plane, you can apply for an aviation delay insurance, which is also a kind of consumer insurance. And if your flight is delayed, you can get compensation from the insurance company.

Consumer-based insurance is only the insured can obtain insurance income if the insured suffers from the specified insured accident during the insurance period, and if the insured does not have an insured accident after the expiration of the insurance period, the insurance company will not refund the insurance premium paid by the policyholder.

Advantages and disadvantages of consumer-based critical illness insurance

1. Advantages

**Cheap: Consumer insurance is different from savings insurance, there is no savings and financial management function, so its insurance rate is cheaper, ranging from tens of yuan to hundreds of yuan per year. Even if the financial burden of the policyholder increases in the process of premium payment, there is no need to worry about the pressure of renewing the policy.

Large leverage: Consumer insurance has a large leverage ratio, and this type of product has a low premium investment but a high sum insured. If the insured unfortunately suffers from an accident specified in the contract during the insurance period, the insured can receive a high insurance payment, which can alleviate the current losses caused by the accident.

High flexibility: The term of protection of consumer insurance is more flexible, and you can choose 10 years, 20 years or protection up to the age of xx.

2. Disadvantages

Short coverage period: Consumer insurance generally has a short coverage period, and if you want to purchase this coverage after the expiration date, you must purchase it again.

This question is up to me, it takes a little time to type, so please be patient.

The insurance paid is consumed, and buying insurance is a consumption behavior.

Spending money is considered consumption. Of course, there is also an investment type of insurance. Consumer-based insurance is a regular protection period up to a certain age, and the premium will not be refunded when it expires

Hello, it is only used for the insurance period after paying the premium, if there is a claim, the insurance money will be paid to the insured according to the insurance amount, if the insurance period is over, and there is no risk, then the insurance premium paid before will not be refunded and will be consumed.

Critical illness insurance, it is inappropriate to classify consumption type and savings type (return type), and the textbook does not write like this, this.

This kind of title has also led to misunderstanding by many people.

Most of the consumer ones are short-term products. The future of the "return type" returns the money, and does not get sick and does not take it out to spend, in fact.

It's a lifelong guarantee, so it's a long-term product – but it's more cost-effective to buy a whole life insurance outright.

If there is only short-term insurance and there is no continuous top-up long-term insurance in the middle of the insurance, then there is no insured accident at the age of 60 (large.

Most people), who did not have insurance at that time, became a burden on their children. Golden Elephant Insurance recommends that you buy a combination of short-term and long-term products, and do not completely superstitious about consumption.