Is it better to buy consumption or return critical illness insurance?

For most ordinary people, it is better to buy critical illness insurance for consumption. Which consumer-based critical illness insurance policies are worth buying? I sorted out in this article, there is a need for the poke: which is better for consumption? Compared with the 186 critical illnesses on the whole network, which ones are worth buying?

1. What is consumer-based critical illness insurance?

During the coverage period, if you are diagnosed with the disease agreed in the contract and meet the conditions for claim, the corresponding sum insured will be paid. If there is no insurance, there will be no compensation, and the premium you pay is equivalent to the money you spend, and it will not be returned to you.

2. What is Returnable Critical Illness Insurance?

If the insurance occurs during the insurance period, the claim shall be settled according to the contract; If the insurance period expires or the insured reaches the agreed age and no critical illness occurs, the premium paid or the cash value (generally the greater of the two is paid), or the insurance money agreed in the contract will be refunded.

Consumer-based critical illness insurance has the advantages of low premiums and full protection, which is more suitable for us ordinary people to buy.

Return-type critical illness insurance, regardless of whether it is out of danger or not, can get money, while providing protection, it has a certain function of compulsory savings.

Whether to buy a consumption type or a return type of critical illness insurance is mainly determined by the needs of consumers, which can be roughly understood as follows:

Choose the consumer group: only choose to protect against illness, give up the death benefit, and pursue cost-effective or tight budget users can choose the consumption type.

Choose the return type of people: Generally speaking, critical illness insurance is a return to principal, usually with a basic sum insured of death benefit, ** is more expensive, suitable for policyholders who have the financial ability and care about the principal, after all, they can get back the principal in the future without insurance. How to choose, you need to know more about the characteristics of the type of critical illness insurance:

1. There are three types of critical illness insurance on the market:

1) Let's talk about consumer-based critical illness insurance first.

To put it bluntly, if you suffer from a critical illness, then the sum insured will be paid; Even if there is no critical illness during the benefit period, the premium will not be refunded;

Consumer-based critical illness insurance means that according to the insurance contract, the insurance company does not bear the responsibility to pay the insurance money when the insurance period expires.

1. If the insurance period is lifelong (or up to 100 years old), the insured shall not be liable for death;

2. If the insurance period is a period of time agreed between the insurance company and the insured, the insurance liability will be terminated naturally upon the expiration of the insurance period.

Advantages: The biggest advantage of consumer products is that they spend less money and obtain high leverage;

Short-term consumer products are more flexible, making it easier to adjust the insurance portfolio in the event of changes in family protection needs or family premium budgets in the future.

Disadvantages: The premium cannot be refunded, and if there is no claim during the insurance period, the premium is paid in vain; The protection period is limited, and many consumer-based critical illness insurance policies cannot be renewed after the age of 60, but after the age of 60 is often the time when the insured needs protection the most.

2) Savings critical illness insurance means that if an insured accident occurs, the sum insured will be paid; If there are no accidents during the insurance period, you will be able to receive a sum of money from the insurance company after the insurance period expires.

3) Return-type critical illness insurance is also known as comprehensive insurance. It is on the basis of the savings type (with death liability), and an additional rebate agreement is attached. It is commonly known as "treating the disease if there is a disease, and returning to the original without a disease".

In other words, return-based critical illness insurance must be savings-based critical illness insurance, but savings-based critical illness insurance is not necessarily return-based critical illness insurance.

Returnable critical illness insurance means that when the insurance contract expires, the insurance company will return the principal of the premium paid by the policyholder and a certain amount of interest.

1. If the insurance period is lifelong (or up to 100 years old), the insured shall be liable for the death of the insured, and the insurance company will pay the insured according to the insured amount when the insured dies;

2. If the insurance period is a period of time agreed between the insurance company and the insured, the insurance company shall be liable for the payment of the survival fund at the expiration of the insurance period. II

Zhu Baojun thinks:Buying insurance and buying consumption will be more cost-effective than buying a return typeHowever, the specific insurance configuration depends on individual needs.

Many people have such concerns: If consumer insurance is not insured, won't it be a loss? And the return-type insurance can be returned if it does not expire, which sounds like a good thing! Therefore, it will be biased towards return-oriented insurance.

Today, Zhu Baojun will explain it to youWhat is the difference between returnable insurance and consumer insurance?

Consumer Insurance:If the insured is insured within the insurance period, the insurance company will make a claim according to the contract, and if the insurance is not insured, the contract will become invalid after the expiration of the insurance.

In simple terms, it can be understood as,After the policyholder applies for insurance, the premium will be consumed regardless of the insurance during the insurance period.

The consumer-based critical illness insurance and term life insurance that we can come into contact with in our lives are all consumer-based insurance products. For example, Darwin No. 3, Super Mario No. 3 Max, etc. are very good consumer-based critical illness insurance.

Return-back insurance:If the insured does not take out the insurance during the insurance period, the premium paid or the amount agreed in the contract can be refunded.

At present, the products of some large companies in the market have return attributes, all of which belong to return insurance, namelyIn the event of death during the period of insurance, the sum insured will be paid;

If there is no death or total disability during the insurance period, and the principal will be returned after the expiration date, it is often heard that "there is no sick to see a doctor and no sick to return money".

We analyze from the following aspects:

1. Premiums are different

It is even said that the protection bought is not as good as the protection of consumer-based critical illness insurance.

2. The role of the benefits is different

One of the benefits of the return-back type is that it has a forced savings function, which is equivalent to helping you save money and wait until the insurance contract expires to return all the premiums you have paid.

But if you think about it, you can't take out the money you paid, it's not as flexible as depositing in the bank, and by the time you get the premium, decades have passed, and this money is more for future generations.

But after decades of currency inflation, money will slowly depreciate, and in the end, although you get back so much of the premiums you paid, your purchasing power will decrease.

And if you use the part of the premium that is more than the consumption type to make other investments, the money you can get is a more visible short-term income, which is similar to the income of insurance returns, but you can take it at any time, and the income you get is suitable for your standard of living.

Even if it is possible to face depreciation, purchasing power will certainly be much higher than it will be in a few decades' time.

Therefore, in terms of protection and considerable returns, I think that return insurance is not worth buying, because it is too cost-effective and inferior to consumption in all aspects.

Generally speaking, in the return insurance and consumer insurance, Zhu Baojun will choose consumer insurance, because its cost performance will be higher overall.

Of course, the choice of insurance is still based on personal wishes, and if you think it is possible, you can also buy it.

Buying insurance should be based on the original intention that insurance is used to protect against risks. Of course, it is also important to get the highest and more comprehensive protection with the least amount of money when it meets your needs.

Hope mine can help you!

Xueba talks about insurance, focusing on insurance evaluation! Consumption-based critical illness insurance is one of the categories of critical illness insuranceConsumer-based critical illness insurance:It is a critical illness insurance with low premiums and specific coverage.

If you do not suffer from a critical illness during this period of coverage or at the end of the insurance period, the premium will still not be refunded.

Here's what I've summarized about the advantages of consumer-based critical illness insurance:

1.**Cheap:In fact, the consumption of critical illness insurance is very close to the people, with low premiums but high insurance amounts, and the cost performance is very high.

2.Flexible guarantee time:The protection of consumption-based critical illness insurance can be flexibly selected, such as the number of years of coverage, age, or even life, etc., and the protection period can be selected according to your needs.

So what are its disadvantages;

1.Low cash value. The cash value is the amount that the insurance company will refund to the policyholder when the policyholder requests to terminate the contract with the insurance company.

However, the reason why consumption-based critical illness insurance is called consumption-based is that no matter how high the previous cash value is, it will become 0 after expiration.

2.No compensation will be paid for ordinary death. If there is no death liability for consumer-based critical illness insurance, consumer-based critical illness insurance will not pay out when death occurs.

Based on the above, I still recommend that you consider buying a consumer-based critical illness insurance product. Because it can be accepted by the majority of the population, the guarantee is flexible and comprehensive; I have also sorted out the article about consumer-based critical illness insurance, and here is an explanation for you why you should buy consumer-based critical illness insurance:"Reasons to buy consumer-based critical illness insurance!

Hope!

The difference between a return and a non-return of critical illness insurance.

Is the returnable critical illness insurance worth buying?

Under the new regulations, we have evaluated more than 1,000 critical illness insurance products and selected the best 10 critical illness insurance products on the market. New Definition of Critical Illness Rankings Announced! The first place turned out to be it!

It is recommended to choose a consumer-oriented one, why? Let's talk about the difference between return and consumption, and you will understand".

1. Return type

There are two ways to settle claims for returnable insurance: if the insured does not have an accident, the insurance company will return the premium paid or the insurance money specified in the contract after the insurance contract reaches the specified period; If the insured person is out of insurance, then the insurance company will pay the claim according to the regulations.

In this way, it seems that the return-type product does not lose anything.

"The returnable critical illness insurance that everyone loves to buy is so pitted! 》

In fact, for return-based critical illness insurance, low risk means small return. For the same premium, the sum insured of the return-type insurance is much lower than that of the consumption type.

In this way, its protection function is very weak, and it loses the significance of insurance to transfer risks.

So what if you buy a sum insured that can prevent risks? It is inevitable that its premiums will also be very expensive. Therefore, it is not recommended to purchase return-type insurance.

2. Consumer-oriented

Consumer-based insurance means that if the policyholder is insured within the agreed time, the insurance company will compensate according to the contract; If the insured event does not occur within the agreed time, the insurance company will not refund the premium paid.

Buying consumer insurance is a certain risk that needs to be borne, but it'sHigh risk also means high reward, after reading the following article, you will know better".Why Choose Consumer-based Critical Illness Insurance? If you don't go out of business, the premium will not be paid in vain! 》

Consumer-based critical illness insurance has relatively low premiums and high leverage, which can play a role in making a big deal out of small amounts.

In addition, the term protection of consumption-based critical illness insurance is more flexible. It can be said that consumer-based critical illness insurance fully embodies the essential role of insurance.

>> it is recommended to choose consumer insurance for the following reasons:

.Return insurance is equivalent to using part of the premium to provide the same protection services as consumer insurance, and the remaining money, the insurance company will invest after deducting various operating costs, and the insurance company will return it to you, and the income will not be high, generally at 1%-2%.Even bank fixed deposits can't run.

Many people may be moved by the slogan "cure the disease if you have a disease, return to the root without a disease". In fact, if you don't talk about return-to-capital, return-type critical illness insuranceIts protection is far less than that of consumer-based critical illness insurance, and the premium is also higher

Return-based critical illness insurance is subject to terms and conditionsThe maturity payment may not be paid.

The function of insurance should be to provide protection first, supplemented by financial management. The original intention of buying insurance is also to use it to spread risks and protect ourselves or our families.

Protection is the core function of insurance, and protection and financial management must not be reversed.

Hello this friend, many people will encounter a problem when buying critical illness insurance, that is, should it be better to buy consumption or return critical illness insurance? Next, dad will distinguish these two types of critical illness insurance for everyone.

So what is the real difference between return-based insurance and consumer insurance? Let's compare in terms of protection and benefits.

1. Comparison of guarantees

Why does dad not recommend buying return insurance, one of the big reasons is that the protection of insurance products is poor, the main purpose of our insurance is to buy protection, what can be done with the return of premiums, and the inability to get sufficient claims is fatal.

Through the above table, we can clearly see that Mommy Baobei has more protection for moderate diseases than Children's Super Treasure, and the proportion of compensation for mild diseases is also higher, covering high-incidence children's special diseases more comprehensively, and critical illnesses can also be selected for secondary compensation, which can be said to comprehensively crush Children's Super Treasure in terms of protection.

And the most important thing is the gap in premiums, the same 300,000 sum insured, 30 years of insurance, 10 years of payment, plus children's special illness protection, Mommy baby only needs 597 yuan a year, and children's super energy treasure needs 3060 yuan a year! The premium is 5 times that of Mommy Baobei.

Some friends may feel that there must be a reason for ta, there is an advantage of TA, yes, the only advantage of children's super treasure is the addition of the return of attributes, if there is no insurance at the end of the insurance period, you can return 150% of the premium paid.

2. Comparison of revenues

Let's take Lao Wang's newborn son as an example, if you buy a consumer-type children's critical illness insurance mommy baby, with an insurance amount of 300,000 yuan, 30 years, and 10 years of payment, 597 yuan per year, a total of 5,970 yuan needs to be paid.

If Xiao Wang unfortunately suffers from a critical illness during the insurance period, 300,000 yuan will be paid at one time, and if there is no illness and no disaster during the insurance period, the 5,970 yuan cannot be returned.

Then let's take a look at the fact that if Lao Wang chooses a children's super treasure for Xiao Wang, the same insurance situation needs to pay 3,060 yuan per year, and a total of 30,600 yuan for 10 years.

If Xiao Wang is diagnosed with a critical illness, he will pay 300,000 yuan of the sum insured at one time, and if Xiao Wang is in good health at the end of the period, 150% of the premium paid will be returned, which means that he can get 45,900 yuan at a time.

45900-30600 = 10300 yuan, that is to say, we paid 30,000 yuan in 10 years, and waited for 20 years, and finally only earned 10,300 yuan.

Through the above two points of analysis of the father, do you still think that there is a return-type insurance product that is guaranteed and can return money?

In fact, as long as we are in line with the original intention of insurance to protect risks, we must not be wrong with the least amount of money to obtain the maximum personal protection.