Many friends think that millions of medical insurance and critical illness insurance are both insured by the name of the disease, why is one cheaper and the other expensive?
So, can you just buy cheap million-dollar medical insurance instead of expensive critical illness insurance?
Is there enough protection in this way?
First, the content of the guarantee is insufficient.
After all, the million medical insurance only guarantees the reimbursement of medical expenses.
Some products will have reimbursement for outpatient and emergency expenses, hospitalization subsidies, etc., but there is no compensation for postoperative **, loss of income, etc.
It cannot be denied that purchased drug protection and proton heavy ion** are also very helpful for critical illness, but medical insurance only has a reimbursement function and no compensation function.
Therefore, the loss of income, ** expenses, and nutrition expenses caused by a critical illness cannot be covered by millions of medical insurance.
Secondly, the amount of coverage for the Million Dollar Medical Insurance is limited.
Although it is a million insurance amount, there are still a few who can really reimburse millions.
Generally, medical insurance plans with a deductible are usually $10,000.
Moreover, some million medical insurance will also require 100% reimbursement after social security reimbursement, otherwise only part of it will be reimbursed.
If we suffer from a critical illness or need to be long-term**, then we are likely to have to bear part of the cost ourselves, and we cannot fully reimburse it with millions of medical insurance.
Finally, the coverage is not comprehensive.
Million Dollar Medical Insurance does not cover the risk of accidents, nor does it provide a single benefit for other purposes in the event of a critical illness.
It only reimburses medical expenses, and the risks that can be covered are not comprehensive.
Of course, you can, after all, there is no saying which kind of insurance must be bought, and if you don't buy it, you can't.
For most families or individuals, the premium of the Million Medical Insurance is affordable.
If you only buy basic protection, the annual premium may only be in the early 100s.
Even if you buy all the protection, guarantee the renewal of the policy for 20 years, and buy the sum insured to 4 million, the annual premium may only be three or four hundred.
Therefore, for people whose family financial situation is not so good, it is actually a good choice to buy only one million medical insurance.
Even if you are sick and hospitalized, you can use the Million Medical Insurance to reimburse most of the expenses.
However, as we said earlier, it is still not enough to buy only one million medical insurance.
How to solve the loss of income, mortgage, car loan, and living expenses during our illness?
Even if the risk of illness is covered, the risk of accident and death still exists.
Therefore, if the economic conditions are enough to support other types of insurance other than millions of medical insurance, it is better to choose to buy the full configuration.
To sum up, if you only purchase medical insurance, there may be problems such as insufficient coverage of coverage, limited coverage amount, inability to cover accidental injuries, insufficient flexibility in purchase, and inability to protect family members.
Therefore, when buying insurance, you should choose different insurance products according to your needs to achieve better protection results.
After all, million medical insurance and other types of insurance have their own uses, and they can complement each other.
So, if the budget allows, try to buy as much protection as possible.
When choosing, you should also understand your actual needs and the actual guarantee of the product, and buy the right product for you.