What is the difference between long term million medical insurance and critical illness insurance?

What is the difference between Million Medical and Critical Illness Insurance?

1. The meaning of the actual compensation is different:

What is the difference between the most easy million medical and critical illness insurance is that the payment method is different:

Million medical insurance is a reimbursement type, critical illness insurance is a diagnosis and compensation type, medical insurance is how much you spend on hospitalization, you will be reimbursed, it must not exceed the medical expenses of hospitalization, and it can only be used for hospitalization.

Critical illness insurance payouts are much more extensive, as long as you buy the corresponding amount of insurance in accordance with the contract, meet the claim conditions of the disease definition, and pay a one-time compensation, assuming that you buy 300,000, you will pay 300,000, you take this money, do not see a doctor, or travel around the world at the end of life, the insurance company will not care about you.

Generally speaking, critical illness insurance is also known as work loss income insurance, which means that you cannot do anything during the serious illness, and this money makes up for the family's living expenses, follow-up post-operative expenses, children's education and other daily living expenses.

If you want to be fully insured, you usually have to insure your critical illness and medical treatment together.

In conclusion, it can be considered as a limitation of the payout.

2. The pricing is different from year to year:

For the pursuit of the best friends, although the million medical insurance is very cheap before the age of 50, a few hundred dollars a year, to protect millions of medical amounts, but the domestic medical claims are in a growing trend, so the guaranteed renewal of the 20-year version of the million medical insurance, are adjustable rates, that is, the use of natural rates, the premium is not fixed and immutable, according to the terms there is room for growth.

However, looking at critical illness insurance, critical illness insurance adopts a balanced rate, that is, the rate will not change with time, and the amount of payment in the first year will be fixed, and the subsequent agreed payment will be fixed in 10, 20 and 30 years.

3. The underwriting period is different

The underwriting period of critical illness insurance is divided into: one-year period, 20-year insurance, 30-year coverage, coverage until the age of 70, 80 years or life, several mainstream types of underwriting, for coverage to 20 years, 30 years, coverage to 70 years old, 80 years old, usually suitable for people who increase the amount of critical illness insurance and have insufficient premium budget. The lifelong guarantee generally requires the customer to have the ability to continue to pay, but most of them belong to the medium and long-term protection.

However, million medical insurance is also divided into: one-year, guaranteed renewal for 6 years, 10 years, 15 years, and 20 years, and the coverage period is not long.

Hello, happy to serve you. Here is the difference between million medical care and critical illness insurance, 1. Different protection items: critical illness insurance mainly covers critical illnesses, and the protection content is relatively simple, but the coverage of million medical care is relatively wide, as long as it does not exceed the sum insured, it can generally be reimbursed.

2. The term of protection and the premium are different: critical illness insurance is generally a long-term insurance, the insurance period is relatively long, and the premium is fixed, but the million medical treatment is generally paid once a year, the term is only one year, and the premium is generally increased year by year.

3. The amount of compensation is different: critical illness insurance is a fixed amount of compensation, no deduction for more, no compensation for less, and only one-time compensation will be made according to the agreed amount of insurance, while millions of medical treatment is reimbursed, and the user pays in advance first, and then takes the documents for reimbursement.

I hope mine can help you, and I wish you a happy life! All the best

The difference between medical insurance and critical illness insurance is mainly reflected in the following aspects:

1. Different product types: Million Medical Insurance is a reimbursement insurance product, while critical illness insurance is a benefit-based insurance product.

2. The content of the insurance is different: Million Medical Insurance provides medical protection, which can provide general medical treatment, critical illness medical treatment, proton and heavy ion medical protection. Critical illness insurance generally provides protection for critical illness, mild illness, moderate illness, death, etc.

3. The protection time is different: most of the million medical insurance is a one-year product. There are various options for the duration of critical illness insurance, such as 1 year, fixed-term, lifetime, etc.

4. The premium is different: the million-dollar medical insurance is cheap, and a few hundred yuan can get a year's protection. Critical illness insurance** is more expensive and can cost several thousand a year.