As a kind of insurance that is particularly important for protection, many friends want to buy one. However, the premium of critical illness insurance is relatively expensive, which has always been criticized by people. Therefore, there is such a critical illness insurance product that can treat illnesses and return premiums if you are not sick, which seems to be very good. Is it really so? Is return-type critical illness insurance worth buying?

What is return-type critical illness insurance?

Return-type critical illness insurance is actually a protection-type critical illness insurance + whole life insurance. In addition to the critical illness insurance that can protect the contract, there are also death protection and maturity survival benefits that can be returned. 危疾保障If you get sick or die during the protection period, you can pay an insurance money. If you reach the age or protection period stipulated in the contract, we are still alive and have not suffered from a serious illness or applied for a claim, then we can return the paid premiums or the cash value of the policy.

What are the characteristics of return-type critical illness insurance?

First of all, the most obvious feature is that the premium is very expensive. The premiums for ordinary critical illness insurance products are not cheap. If you only buy basic protection, the premiums are mostly 1,000 to 2,000 yuan. If you buy more complete protection, such as lifelong insurance, 危疾保險additional compensation for critical illness, multiple compensation for critical illness, etc., then the premium will be 3,000 to 4,000 yuan per year. The return-type critical illness insurance has the nature of savings, and the premium is much more expensive than ordinary critical illness insurance products.

Secondly, the protection is not sufficient. Although you can get a refund if you live to the end of the protection period without any accident, you will not get a refund once a claim is made. There are several types of protection, such as critical illness, death, and refund, but in fact, you still spend two dollars to buy one protection. Once an accident occurs, all responsibilities are terminated. Just think about it.

Finally, the return income is actually not high. Suppose the return age stipulated in the contract is 70 years old, and we are insured at the age of 30. During these 40 years, we have to pay 10,000 to 20,000 yuan in premiums every year. In other words, during the protection period, we have to pay hundreds of thousands of premiums alone. And 40 years have passed, is the refund really worth the much we see now? Considering inflation and changes in the economic environment, it is not worth waiting for so many years.

Why is it not recommended to buy return-type critical illness insurance?

In fact, the above-mentioned characteristics are already very convincing. So apart from the return-type critical illness insurance itself, what other reasons are there for not recommending it?

When we buy critical illness insurance, the most important thing is actually protection. The reason why critical illness insurance products are updated so quickly now is that there are constantly new demands and new protection requirements. Even basic protection, such as serious illness, moderate illness, and mild illness, is constantly increasing in number and compensation. Not to mention other aspects of protection, such as additional compensation for serious illness, multiple compensation for serious illness, specific disease protection, etc. Because critical illness insurance itself is an insurance product with a strong protection nature. If it is required to have functions such as savings and financial management, it is equivalent to losing sight of the main point.

In addition, return-type critical illness insurance is actually a whole life insurance with a critical illness insurance attached, not a simple critical illness. And such additional critical illness insurance is definitely insufficient. In addition to basic protection, there is basically no other additional protection. Therefore, if the insured amount is shared, there must be loopholes in the protection.

In general, for most of us ordinary people, consumer-type critical illness insurance products are what we should consider. Make sure the insured amount is sufficient, choose the protection period according to your actual situation, and choose the right product, which can be considered good protection.

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Posted by: ncasbc at 09:06 AM | No Comments | Add Comment
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