Below, let's talk about the difference between these two kinds of insurance in detail:
1, different payment methods
Medical insurance belongs to reimbursement insurance, and the reimbursement cost will not be higher than the actual expenditure.
Critical illness insurance belongs to payment insurance, which pays a sum of money at one time, and the money can be spent at will, without restrictions.
2. Covering different diseases.
Medical insurance covers a wide range, regardless of accidents and diseases, and does not limit the types of diseases. As long as it meets the requirements of the contract, it can be reimbursed.
Critical illness insurance protects a specific disease, and it must meet the compensation conditions agreed in the contract before it can be paid.
3. The warranty period is different
Critical illness insurance is mostly long-term insurance, which can generally cover 20/30 years, or 60/70 years old, or even life. Of course, there is also one-year critical illness insurance, but it is generally not recommended.
Medical insurance is generally one year, only this year. However, there are also millions of medical insurance that can guarantee renewal, but it can only guarantee renewal for 20 years at most.
4. The update rules are different.
Life-long critical illness insurance does not need to be renewed, and periodic critical illness insurance will not be renewed until it expires decades later.
Medical insurance is different. Many products are bought for one year and guaranteed for one year. Once the medical insurance products are discontinued, they may not be renewed.
5. Creditor's rights have different functions.
Critical illness insurance is a kind of income loss insurance, and its claim is to make up for the income loss, supplement the subsequent economic security and avoid the family falling into a "financial crisis".
The function of medical insurance is to solve the problem of medical expenses.
Generally speaking, these two kinds of insurance are complementary. If possible, it is recommended to buy them together. If the budget is insufficient, it is recommended to give priority to medical insurance. I don't need to say the specific reasons here. Interested in poking here to find out: which is more important, critical illness insurance or medical insurance? Which configuration is preferred?
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