The difference between retrospective insurance and traditional insurance

Different definitions, different insurance periods and different premium calculation methods.

1. Retroactive insurance refers to a kind of life insurance agreed by the insurer in the contract, and the starting and ending period of insurance liability is determined according to the date when the insurer pays compensation to the insured or beneficiary. Traditional insurance refers to life insurance, health insurance, accident insurance and other insurance products.

2. The insurance period of retrospective insurance is from the insurance date of the policy, with a retrospective period of 6 months. The insurance period of traditional insurance is determined according to the terms in the insurance contract.

3. The premium of retrospective insurance is calculated before the insurance date of the policy, and it goes back six months, and then the premium is calculated according to the risk situation during this period. The premium of traditional insurance is calculated according to the age, gender, health status and other factors of the insured.