Finance--multiple paying type of critical illness insurance has become mainstream. Four purchase strategies can not be ignored
Multiple payment type of critical illness insurance has become mainstream. Four purchase strategies can not be ignored.
Multiple claims type of critical illness insurance has become the flagship product of many companies' critical illness insurance. Although the price has increased, the range is still acceptable. For customers who need to purchase, they can follow four purchase suggestions.
The multiple payment type of critical illness insurance has been frequently listed recently, and it has become a major illness insurance product promoted by many insurance companies.
According to the incomplete statistics of the "Investor News" reporter, at present, at least Xinhua Insurance (601336) has more than double protection for critical illness insurance, Xintai Life Insurance's Xintai million health critical illness insurance, and China Life Insurance's evergreen trees. Dozens of multiple-paying type of critical illness insurance, such as heavy illness insurance, most of which were launched in 2017~2018.
The so-called "multiple payout type of critical illness insurance" is, in short, a serious illness insurance that can pay for two or more diseases that are covered by the coverage. previously, most of these products only paid for minor and severe illnesses.
Why are such products popular in the market? Investor reporters found in the interview that the insurance industry's return to protection, disease incidence and cure rate are increasing, consumers' concerns about many serious illnesses, etc., have become the prevalence of multiple claims and heavy illness insurance. the reason.
Multiple payment type of critical illness insurance price rises
At present, the mainstream multi-paying type of heavy illness insurance has paid multiple claims for mild, moderate and severe diseases. Among them, mild and moderate symptoms are generally not grouped or grouped to pay 2 to 5 times, and the proportion of compensation is generally 20% to 50% of the basic insured amount. Severe cases are divided into 2 to 6 groups according to the type of disease. Each group pays 1 to 3 times for the total risk insurance. The total number of claims is generally 2 to 8 times. The interval between each payment is 180 days to 1 year. 100,000 yuan to 500,000 yuan, but this insurance amount refers to the amount of insurance that is paid in a single time. That is to say, even if the insured has made a claim, the amount of the insurance will not decrease when the next claim is made, so many times. In the case of claims, the amount of insurance is actually multiplied.
The "Investor News" reporter noticed that compared with the multi-paying type of critical illness insurance launched last year, the newly launched similar products in 2018 have been upgraded. For example, Huaxiafu Duobao, Changshengfu major illness insurance and other products have increased the function of multiple compensation for Chinese diseases; for example, Xinhua Insurance recently launched multiple times to protect critical illness insurance against malignant tumors with high recurrence rate under certain conditions. You can pay up to 3 times and so on.
So how much does this kind of product sell? Take the case of a multi-paying type of heavy illness insurance with relatively high sales and relatively high cost performance. A 30-year-old woman is insured for 500,000 yuan. The 30-year insurance premium is about 7,700 yuan/year, and the same conditions. Next, another price for a one-off type of severe illness insurance that guarantees a slightly less disease is 5,150 yuan/year. It can be seen that the multiple-paying type of severe illness insurance is more than 2,550 yuan more than a single-pay type of critical illness insurance. In the year, the price rose by nearly 50%.
The price increase is so great, can customers accept this type of insurance? The relevant person in charge of Xintai Life told reporters that the overall price of such products is also controlled within the scope acceptable to customers. From the actual situation, customers generally recognize the advantages of multiple payments.
Customers who have purchased multiple payment-type heavy illness insurance told reporters that the purchase of such insurance mainly valued the function of multiple payment. Although the premium has increased a lot, it has not exceeded 10,000 yuan, and it can still be tolerated.
From the data point of view, the "sucking gold" ability of multiple claims type of critical illness insurance is still good. Take Xinhua Insurance's multiple protection of critical illness insurance as an example. The product will be piloted at the end of May 2016, as of the end of May 2018. The scale premium has exceeded 2.5 billion yuan.
a variety of reasons for mainstream insurance
Why is there a trend of becoming a mainstream insurance for multiple payouts? The relevant person in charge of Xintai Life Insurance told the reporters that the entire insurance industry is actively adjusting its business structure and transforming its value. From the perspective of the industry, such products are currently sold as the main products by various companies, especially small and medium-sized companies, which will become a market with faster growth. In addition, with the continuous development of medical technology, the detection rate of diseases continues to increase, consumers pay more attention to their own health status, coupled with concerns about multiple illnesses, the market demand for such products has also increased.
Xinhua Insurance also explained to reporters that the reason why the company developed multiple times to protect critical illness insurance is related to the reasons for commercial health insurance facing policy dividend opportunities and the return of insurance industry to the source of insurance. The impact of lifestyle, ecological environment, etc. on people's health is gradually emerging, and the increasing probability of disease is also an important reason. Taking cardiovascular and cerebrovascular diseases as an example, the China Cardiovascular Disease Report 2017 shows that the incidence and mortality of cardiovascular diseases in China continue to rise. It is expected that the number of patients will continue to grow rapidly in the next 10 years, due to the number of cardiovascular and cerebrovascular deaths. The total number of deaths exceeds 40%.
"Affected by the ecological environment and lifestyle, people are likely to suffer from severe illnesses many times in the future. The drawbacks of single-paying type of severe illness products in terms of sustainability are gradually emerging. After the insurance insured suffers from serious diseases for the first time, insurance When the contract is terminated, the patient cannot purchase the critical illness product again, thus losing the opportunity to continue to obtain insurance protection.” The relevant person in charge of Xinhua Insurance told reporters that the multiple payment type of critical illness insurance made up for such defects.
Seller's four purchase suggestions
So for the average consumer, what issues do you need to pay attention to when purchasing a multi-paying type of critical illness insurance? Industry insiders suggest that, first of all, critical illness insurance is a lifelong protection product, and claims generally occur after several decades, so it is necessary to choose a safe operating insurance company.
Secondly, depending on the scope of protection, if you can, you should choose insurance products that include mild, moderate, severe illness, premium waiver and death liability.
Third, consumers should pay attention to the number of disease groups and the way they are grouped. The more the number of groups, the more comprehensive the protection for consumers. In addition, the classification of high-risk diseases in different groups can also increase the degree of protection. Huaxia Insurance told reporters that Huaxia Evergreen (multiple version) divided the severe illness into six groups. The "malignant tumor" was divided into a group of severe diseases. The interval between claims for each group was 180 days. The insurer is of great significance in the actual treatment process. For example, if customer A unfortunately suffers from leukemia, he can immediately get a heavy illness claim (group A), and the best treatment for leukemia is bone marrow transplantation. This product is divided into group B if “bone marrow and major organ transplantation”. Customer A is likely to make a second claim.
According to the regulations of the China Insurance Regulatory Commission, all critical illness insurance must include malignant tumors, acute myocardial infarction, sequelae of stroke, major organ transplantation or hematopoietic stem cell transplantation, coronary artery bypass grafting, and end-stage renal disease. The data show that the incidence of these six common major illnesses accounts for 60% to 90% of the incidence of major diseases in more age groups. Obviously, these six severe diseases are more favorable when they are divided into different groups.
Finally, the consumer also has to observe the payment interval set by the product. The shorter the interval between each payment, the better for the consumer. The reporter noticed that there are no intervals between the two claims for mild and moderate illnesses, and there are only 180 days between the two major illness claims. The advantage of such products in the interval is obvious. In summary, consumers should consider comprehensively in selecting and purchasing multiple payment products, and choose the most cost-effective products.
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