The first to do the evaluation of insurance products, try to be concise and to the point, try not to do subjective personal preferences, try to speak the vernacular, try to grasp the key points, stand in a neutral position, bring you objective facts, understand the real insurance, help you choose the right insurance products for yourself, make better use of the insurance tool, solve problems in real life, welcome to consult and **.
Evaluate several aspects of a critical illness insurance product:
1.At the company level (stability and strength).
2.Insurance liability (what is covered).
3.The severity of the terms of the insurance (how difficult it is to settle a claim in the event of an accident).
4.Value-added services (added value to the customer in addition to the product).
5.**Level and policy value.
Sino-British Life Healthy Life Critical Illness Insurance (abbreviation: Healthy Life).
Registered capital: 294.5 billion.
Founded: January 2003.
Shareholder: COFCO Capital Investment *** British Aviva Group.
Comprehensive solvency: 26145% (Q3 2023).
Risk rating: AAA (Q2 2023).
COFCO Capital Investment is a specialized company under COFCO that operates and manages financial business, integrating financial businesses such as trust, life insurance, banking, industry, and insurance brokerage, and improving the financial service chain based on COFCO's industrial chain.
Founded in 1696 and headquartered in London, Aviva is the largest provider of insurance services in the United Kingdom, as well as the world's leading insurance group and Europe's leading provider of life insurance products and pension business. Ranked 198th among the world's top 500 companies published by Fortune magazine in 2022.
The strength of the company is strong, and the operation is also very stable.
Note: Critical illness insurance belongs to life insurance, and the rights and interests of life insurance are protected by law, and the strength and stability of the company and our customers do not have too many practical benefits, so when choosing a critical illness insurance, you don't need to pay too much attention to this aspect of the company's strength.
Next, let's take a look at the insurance liability of Kangxiang Life.
The above ** is summarized by the old and can be used as a general reference for choosing critical illness insurance.
Product form] covers 120 diseases, the compensation ratio is 100% of the sum insured, no grouping, 2 payments, and the interval between diseases is 365 days.
Disadvantages: The number of claims is 2 times, which is slightly worse than the first-level form.
Moderate illness insurance benefit].
Covers 20 kinds of moderate diseases, with a compensation ratio of 50% of the sum insured, not grouped, and paid twice.
Insufficient: Generally, the compensation ratio for moderate illness is 60% of the sum insured, the compensation ratio is slightly lower than 50%, and the 20 types of diseases are less.
Minor illness insurance benefit].
Covers 50 mild diseases, pays 30% of the sum insured, does not group it, and pays 2 times.
Children's Specified Disease Insurance].
Before the age of 18, 20 diseases are covered, and an additional 100% of the sum insured will be paid, and 1 payment will be paid.
*Specified Disease Benefit
After the age of 18, 15 diseases are covered, and an additional 100% of the sum insured will be paid, regardless of grouping, and will be paid once.
Specified Disabling Illness Benefit].
Before the age of 66, 15 diseases are covered, and an additional 50% of the sum insured will be paid, regardless of grouping, and will be paid once.
Death Benefit] Before age 18 = premium.
After age 18 = sum insured.
Exemption function] In the event of mild, moderate and severe illness, the late premium will be exempted.
Waiting period of 90 days].
Sickness during the waiting period is not covered by insurance.
Coverage Period].
Lifelong. Issue age: 0-60 years.
Payment period: single payment (one-time), 5 years, 10 years, 20 years, 30 years installments.
Minimum policy insured: $50,000.
Payment frequency: monthly and annual.
Insurances available: Medical, Accident, Term Life Insurance.
Insured occupations: 1 4 categories of product liability.
Summary: Due to multiple claims of 2 times, the product form is located between 1 category and 2 categories, and the product liability is relatively rich
An additional 100% reimbursement is available for children's high-incidence critical illnesses
The Disabling Illness Benefit is an additional 50% of the benefit for incapacitating diseases (e.g. severe cerebral stroke sequelae, motor neuron disease (ALS), myasthenia gravis, etc.) that occur within the age of 66.
The monthly payment function is not available in general critical illness insurance.
Cons: 50% of the benefits for moderate disease are slightly lower, and 20 moderate diseases are slightly less. Secondary claims for cancer and stroke are not available
Restrictions:
If two or more minor illnesses are caused by the same accident or illness, it is necessary to pay for both types of illness after an interval of 180 days.
Note: The interval of 180 days in the above clause only restricts the time between two mild or moderate diseases, and there is no time limit between mild, moderate and severe diseases.
The definitions of the top 28 critical illnesses in critical illness insurance are uniformly formulated by industry associations and have unified standards. It accounts for more than 95% of claims.
The mild to moderate diseases corresponding to the 28 types of critical illnesses are also high-incidence mild to moderate diseases, including the number of high-incidence mild to moderate illnesses is also an important indicator to measure a critical illness insurance.
Lao Chu made a statistic:
From the perspective of 28 major items, there is only one paralysis in Kangxiang Life, and there is no corresponding moderate and mild disease.
From the perspective of 42 sub-items, 9 items are missing in a healthy life. The overall coverage is relatively comprehensive.
The critical illness clauses are some lenient and some are strict, and the overall friendliness is considered a medium preference.
In general, the terms of the product are relatively friendly.
Insurance liability is like a function it has
And the terms are like the raw materials used to produce it.
Liability and terms are the main costs of producing an insurance product
It determines the performance and quality of the product.
1. The premium required is greater than 3,000 yuan
24-hour ** doctors, rapid consultation, hospitalization accompaniment, expert outpatient clinic, inpatient coordination, surgical coordination, overseas medical consultation, overseas reproductive medicine consultation, postoperative ** management, international SOS emergency rescue services, etc.
2. According to the different annualized premiums of individuals, VIP customers are divided into pearl, jade, silver diamond, gold diamond, black diamond and other levels.
During the policy term, customers at different levels can enjoy corresponding value-added health services, including physical examination, health consultation, MR cancer screening, international SOS emergency assistance, appointment**, symptomatic appointment, medical escort and critical illness green pass, etc.
SOS international rescue is more prominent in Sino-British value-added services.
3. Underwriting reconsideration function:
If there is an exclusion at the time of application, then you can apply for reconsideration after 2 years, and if your physical condition improves, you can reclassify the exclusion into the scope of coverage.
The reconsideration function is not common in similar products.
Take girls of different ages, pay for 20 years, and the insurance amount is 300,000 yuan
0 years old: 3696 yuan year.
10 years old: 4821 yuan year.
20 years old: 6420 yuan year.
30 years old: 8547 yuan year.
35 years old: 9828 yuan year.
40 years old: 11,241 yuan.
45 years old: 12,756 yuan.
Note: ** The level is at a higher level in the market.
The cash value of the policy at different ages].
The cash value of the policy at different ages represents the value of the policy at the corresponding age, and represents the money that can be recovered at that time if the policy is surrendered, which is a very important data.
In the example above, customers aged 0 and 45 are all aged 88 with a cash value of more than $300,000.
The age at which the cash value exceeds the premium paid is different:
0-year-old customers: over 37-year-old.
20-year-old client: Over 54-year-old.
35-year-old customer: Over 73-year-old.
41-year-old client: Over 79-year-old.
Note: The cash value of policies of different ages is at a relatively high level in the market.
Summary: The product form of Kangxiang Life belongs to the second-level form, the insurance liability is more comprehensive, the terms are more friendly, the insurance company attaches more importance to value-added services, the company is stable and strong, and the level is basically consistent with the product content.
If critical illness insurance is divided into one, two, three, four, and four levels, the old man personally thinks that healthy life belongs to the first and second levels
I am the old man, the father of two babies.
There is an innate dullness to the world and human feelings.
I wish I was a dear daddy in the hearts of two babies.
I am a Minya insurance broker, located in Zhengzhou, facing the whole country.
I hope I'm a professional veteran that my friends can trust. ️
If you have any insurance needs or questions, please feel free to consult us**.