What should I pay attention to in the terms of GCL Critical Illness Insurance?

Hello! In the terms of GCL Critical Illness Insurance, there are generally three major matters to be noted, namely, the observation period, the covered illness, and the exclusion clause. The details are as follows:

1. Observation period: GCL Critical Illness Insurance is limited by the observation period, and the general critical illness insurance terms will stipulate an observation period of 180 days, if you suffer from a critical illness during the observation period, the insurance company will not be liable for compensation and will only refund the corresponding premium. After the viewing period, regardless of whether you have several major diseases, you can get the insurance money paid by the insurance company, but the premise is that the insured has been diagnosed in a hospital designated or recognized by the insurance company.

2. Protected diseases: All critical illness insurance terms are detailed in the types of diseases covered, generally speaking, critical illness insurance must protect the six major illnesses stipulated by the state, and after insuring these six major diseases, you can also choose some major illnesses to cover. Since the confirmation method of each disease is different, the insurance terms of each insurance company may be different for the diagnosis of the same disease, and when choosing an insurance product, you must figure out how to diagnose this disease in order to get the insurance company's claim.

3. Exemption clauses: Critical illness insurance clauses will stipulate that the insured will not bear the liability of insurance under some specific circumstances, generally including, the insured intentionally killed or injured by the insured, the insured knowingly injured, but also intentionally injured himself, injured due to a crime, injured due to war, injured due to a nuclear accident, congenital disease or heredity of the insured, in these cases, the insurance company can be exempted from liability.

There are many types of critical illness insurance, and there are countless products. I'll first sort out the cheapest and cost-effective critical illness insurance on the market that I stayed up late last night, and I need to pick it up:Top 10 most cost-effective critical illness insurance points!

Let's talk about the products of Zhongyi Life, is it worth buying?

With a registered capital of 3.7 billion yuan and total assets of more than 50 billion yuan, GCL is one of the largest joint venture life insurance companies in China. Looking at these numbers, do you think it's a big name? In July 2019, it ranked 92nd in the Fortune Global 500.

With this **East background and asset scale, do you still say that it is a small company? The question of choosing a large and small company can be seen in my previous article:》Is it better to buy insurance, is it better to be a big company or a small company?

1. How much to buy

First of all, it is necessary to know that critical illness insurance has two functions, one is that it can be used as the medical expenses and expenses of the disease; The second is that they are often unable to work during their illness, and this one-time compensation can make up for the loss of income. Therefore, the sum insured of critical illness insurance cannot be bought low.

From the statistical point of view, the cost of a serious illness is about more than 300,000 yuan, plus to cover the family income in the next 3-5 years, it is recommended that the insurance amount of critical illness insurance should be at least 300,000 yuan.

If it is in a first- or second-tier city, the cost of living is relatively high, and it is generally recommended that the insurance amount should be 500,000 yuan.

2. How much is the premium?

The premiums of critical illness insurance vary depending on age, gender, and duration of coverage, but they generally have the following characteristics:

Men's Premiums >> Women's Premiums.

The older you are, the more expensive your premiums are.

Guaranteed for life" for a fixed period of time.

Multiple Payments" but multiple payments.

It is recommended that the expenditure of all premiums of the family is generally 10% 20%, in order to pay the high premiums, the family is under great financial pressure, which is very discouraged!

First of all, let's take a look at the loss of Zhongyi Life. GCL was established in Guangzhou on January 15, 2002 with the approval of the China Insurance Regulatory Commission with a registered capital of RMB 1.9 billion, becoming one of the first Sino-foreign joint venture insurance companies approved to be established after China's accession to the WTO. In the solvency report for the third quarter of 2022, the core solvency adequacy ratio of Zhongyi Life Insurance Co., Ltd. was the comprehensive solvency adequacy ratio, and the comprehensive risk rating for the second quarter was BBB, which exceeded the minimum standard by a lot, and was generally good.

There are a lot of critical illness insurance under GCL, and whether the product is good or not depends on the content of the protection. At present, the more popular ones are Zhongyi Yuexiang Ankang Critical Illness Insurance (Celebration Edition), Yuexiang Lifetime Feedback Critical Illness Insurance, Xinxiang Baby Critical Illness Insurance and so on. Senior sister will take Yuexiang Ankang Critical Illness Insurance (Celebration Edition) as an example to introduce to you.

Enjoy Ankang Critical Illness Insurance (Celebration Edition), this product has a short waiting period, flexible payment period, critical illness can be paid 3 times, in addition to mild and moderate illness protection, it also provides death total disability insurance benefits, insured exemptions, etc., but the proportion of moderate illness compensation is not high, only 50% of the basic sum insured, if you want to know more about it, you can read this article:Want to get your hands on the Joyful Health Critical Illness Insurance Spring Festival Match (Celebration Edition)? Don't miss out on these details......

In fact, the insurance company is not very important to buy critical illness insurance, as long as it is under the supervision of the China Banking and Insurance Regulatory Commission, the insurance company is reliable. Secondly, the reliability of the insurance company does not mean that the product is suitable for you, but mainly the content of the insurance and what your needs are. A good critical illness insurance often has complete protection for mild and moderate illnesses, providing multiple claims for high-incidence diseases, additional claims, etc., and some will also provide death benefits, premium waivers, etc., and the proportion of claims for mild and moderate illnesses is not low.

Hope.

If you can take both into account, it is the most ideal choice!

If you are unfortunately diagnosed, some insurance companies can pay in advance with the diagnosis notice, which solves the problem of having no money to treat the disease, which can be described as a relief in the snow! However, under normal circumstances, after the payment of this insurance premium, the insurance contract will be terminated.

The additional benefit means that if the insured suffers from certain diseases (such as early cancer - or carcinoma in situ), the insurance company can compensate a certain percentage of the insurance premium, which does not affect your established insurance amount, and the insurance contract is valid as usual! With this funding, it is possible to do some diseases early** and avoid progression in a worse direction. This is a humane consideration for insurance companies.

So, if you can have both, it's the best choice.

Of course, if you can't do both, I recommend paying in advance, because once diagnosed, it will be a significant expense, unless you have enough funds to cover the medical expenses and then reimburse, but I think that is likely to affect your cash flow and even further lead to financial crisis.

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

There are many Chinese life accident insurance products, and Chinese life accident insurance mainly includes traffic accidents, comprehensive accidents and travel insurance. Chinese life insurance accident insurance includes: such as e comprehensive accident insurance plan, such as e private car accident insurance plan, such as e aviation accident insurance plan, such as e domestic travel insurance plan and China Life Shenzhou emergency rescue series products and so on.

Chinese Life Accident Insurance Introduction Early Middle School takes China Life Long-term Care Accident Xiye Injury Fixed Payment Medical Insurance as an example, this product is aimed at accidental risk accidents, only a small expenditure, you can get a high accidental hospitalization allowance payment, and the policy can be renewed up to 70 years old.

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

Accident insurance refers to the life insurance that gives insurance money when the insured is killed, disabled or hospitalized due to an accident, and is a relatively common type of insurance in our daily life, with the characteristics of short-term, flexible and low payment. In recent years, natural disasters such as floods have occurred frequently, coupled with the fact that China is in a period of social transition, various social contradictions are complex and changeable, and accidents are unpredictable and difficult to avoid, so accident insurance is almost indispensable.

Chinese Life Accident Insurance Products:

1. Chinese Life Traffic Accident Insurance Products:

Chinese Life Accident Insurance Traffic Accident Insurance products mainly include: such as e-comprehensive transportation accident insurance plan, e-aviation accident insurance plan, e-private car accident insurance plan.

2. Chinese Life Comprehensive Accident Insurance Products:

Chinese Life Accident Insurance Comprehensive Accident Insurance products mainly include e-Comprehensive Accident Insurance Plan, e-Primary and Secondary School Student Accident Insurance Plan, e-College Student Accident Insurance Plan, and China Life Anxin Insurance Portfolio Plan

3. Chinese Life Travel Accident Insurance Products:

Chinese Life Accident Insurance Travel Accident Insurance products mainly include products such as e-domestic travel insurance plan, e-citizen exit insurance plan, e-domestic travel insurance plan (one-day trip), China Life Shenzhou emergency rescue series products and other products.

4. In addition, Chinese life accident insurance products include e-family insurance plan, e-family insurance plan, China Life additional long-term care disability accident injury insurance, China Life long-term care accident cost compensation medical insurance, China Life long-term care accident injury cost compensation medical insurance, China Life additional long-term care accident injury insurance and China Life long-term care accident injury fixed payment medical insurance and other products.

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

Later, Ms. Liu Suibu was unfortunately diagnosed with a critical illness, and it met the requirements of the two insurance companies' contracts, and the contracts of both companies clearly stated that as long as the diagnosis was confirmed, the claim could be obtained. Ms. Liu wanted to know if she could get critical illness insurance benefits from the two insurance companies.

And how to claim medical insurance? Puzzle solving: Cao Min, head of the operation department of Zhongyi Life Insurance Guangdong Branch, said that critical illness insurance is generally a payment type, and the fixed amount of compensation is paid according to the contract, even if you are insured in different companies, as long as you are diagnosed with the critical illness specified in the policy and the condition meets the compensation standards, you can get the critical illness payment from both insurance companies at the same time.

However, medical insurance will be different, medical insurance includes expense reimbursement type and subsidy type, if the insurance is expense reimbursement type, this kind of insurance compensation is based on the actual medical expenses incurred by the insured, and the payment amount is calculated according to the payment standard agreed in the insurance contract, and the payment amount cannot exceed the actual amount of medical expenses incurred; If the insurance is subsidized insurance, this type of insurance belongs to the fixed payment type, which has nothing to do with the actual medical expenses, and the original invoice is not required when making a claim, and the insurance company will pay compensation to the insured in accordance with the subsidy standard stipulated in the contract. No matter how much money is spent in ** or what disease you get, the compensation standard remains the same. If Ms. Liu had purchased cost-based medical insurance from two different insurance companies, she could receive compensation from both companies, but the compensation would follow the principle of compensation, and the total amount of compensation paid by the two companies would not exceed the amount of medical expenses actually incurred by the insured.

If you purchase different products from two different insurance companies, one is an expense type and the other is a subsidy type, the two insurance companies will adjust and pay according to their respective contracts, and they will not affect each other. If you purchase subsidized insurance from two different insurance companies, you can receive a fixed payment from both insurance companies at the same time.

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

1. What are the infiltration of GCL Life Critical Illness Insurance?

At present, the critical illness insurance products sold by Zhongyi Life Insurance are: Enjoy Ankang, Lifetime Ankang and Lifetime Fukang, etc., and the following is a brief description of the advantages and disadvantages of this product:

1. Highlights of critical illness protection: After the first critical illness claim is paid, the liability for minor illness is still valid. In addition, different severe illnesses caused by the same cause can also be compensated.

For example, if you have a malignant tumor for the first time, and the interval ** leads to a major organ transplant operation, both serious diseases can be compensated, which is a relatively rare guarantee on the market.

2. Minor illness protection is slightly insufficient: there are only 10 types of minor illness protection, the compensation amount is only 20%, and there is a one-year interval. The first claim for mild illness of many products is basically more than 30%, and there is no interval, and Joy Ankang is slightly insufficient in terms of mild illness protection.

2. What should I pay attention to when purchasing critical illness insurance?

1. Pay attention to the protection of mild illness.

For mild illness, we should focus on the following three aspects: the number of mild illness coverage; the number and proportion of payouts; Waiver of premiums for minor illnesses. Try to choose products that cover high incidence and mild symptoms, so as to effectively protect our interests.

2. Pay attention to the terms of the insurance.

1) Look at the waiting period: It is recommended that the shorter the waiting period, the better.

2) Look at high-incidence diseases: mild or moderate diseases cover high-incidence diseases, and the claim conditions are relaxed.

3) Look at the exemption liability: It has the double exemption liability of the insured Qingshout Wu people.

4) Look at the death liability: The death benefit is the best option.

3. Return-based critical illness insurance vs. consumption-based critical illness insurance.

If you have a budget, consider buying a returnable critical illness insurance that combines protection and savings functions.

If you're on a budget: I recommend that you first consider a protection-focused consumer critical illness insurance to take advantage of its high leverage to get adequate critical illness protection.