Does critical illness insurance belong to life insurance

Critical illness insurance coverage for major diseases, is to human health as the subject of insurance, so it belongs to a kind of health insurance, but not life insurance.

The reason why some friends will confuse the critical illness insurance and life insurance, mainly on the critical illness insurance is not quite understand, dedicated gentleman specifically wrote a critical illness insurance science article: critical illness insurance insurance what? How to buy critical illness insurance? You still do not understand the critical illness insurance? Read this on enough

Below, we talk in detail about the difference between life insurance and critical illness insurance:

1, different insurance subject matter

The subject matter of critical illness insurance is the person's health, when the insured suffers from a contractually agreed upon major illnesses, the insurance company in accordance with the contractually agreed upon amount of money to be paid out.

While the subject matter of life insurance is a person's life span, once the insured dies, the insurance company pays out.

2. Different conditions of payment

Critical illness insurance is when the insured person suffers from the major diseases agreed in the contract, in order to apply for compensation.

Life insurance is the death or total disability of the insured person in order to receive compensation. However, it is important to note that the following two cases can not be compensated:

(1) the death of disease during the waiting period: life insurance generally has a waiting period of 90-180 days, during which the death of non-accidental cause of death will not be compensated;

(2) exclusion clauses in the exclusion clause: in order to prevent the moral hazard, the intentional crime, within two years of the suicide caused by the death will not be compensated. War, drug abuse, drunk driving and other causes of death, many life insurance is also listed as an exemption, are not compensated.

3, premiums are calculated on a different basis

Critical illness insurance is based on the incidence of major diseases, while life insurance is based on the mortality rate as the basis for premium calculation.

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