How should I buy insurance?

When buying insurance, you must read the terms carefully and the unreasonable terms in the terms, and you must be aware of them.

Age limit clause. Health insurance mainly includes sickness insurance, medical insurance and income compensation insurance. According to different types of health insurance, the minimum age of health insurance generally ranges from 90 days after birth to 16 years old, while the maximum age ranges from 60 to 70 years old.

Deductible clauses, such as hospitalization medical insurance, are compensatory insurance, and compensation is made according to the actual expenses. Insurance companies generally stipulate a deductible for hospitalization medical insurance, that is, the medical expenses are lower than the deductible, and the insured cannot get compensation; If the medical expenses exceed the deductible, the insurance company will pay according to a certain proportion.

Wait-and-see clause The wait-and-see period refers to the insurance company's obligation to pay the medical expenses incurred by the insured due to illness after the insurance contract takes effect for a period of time. Insurance companies have a wait-and-see period when underwriting health insurance. Depending on the types of insurance, the wait-and-see period can be 90 days and 180 days from the effective date of the contract. The insurance company is not responsible for the medical expenses incurred during the wait-and-see period.

Guarantee renewal clause. "The' guaranteed renewal' of health insurance refers to the agreement in the insurance contract that after the previous insurance expires, the applicant applies for renewal, and the insurance company must continue to underwrite according to the agreed rate and original terms."

Insurance experts said that if the insured meets the conditions for guaranteeing renewal, the insurance company cannot refuse to renew the insurance on the grounds that the insured's personal health status has changed, nor can it increase the premium, increase the exclusion liability or postpone the underwriting, let alone refuse to renew the insurance.

However, due to the high risk, insurance companies make different provisions on the renewal conditions of health insurance. Some companies stipulate that the insured can only guarantee the renewal of insurance if he has not paid for illness for three or even five years in a row.

Investment Insurance: Avoiding Three Misunderstandings

In recent years, investment insurance has attracted much attention from investors because of its powerful investment function.

However, insurance experts remind that investment-linked insurance is insurance linked to investment income, and risk protection is only an additional part. Investors need to be rational when purchasing investment-linked insurance.

The following three misunderstandings should be avoided

Everyone is suitable for buying investment insurance. At present, the investment insurance products on the market mainly include dividend insurance, universal insurance and investment-linked insurance. Dividend insurance is mainly suitable for policyholders with low risk tolerance and sound financial management needs. Universal insurance is suitable for policyholders with high demand elasticity and low risk tolerance, who want more choices of insurance products, while investment-linked insurance is suitable for investors with high income, mature investment concept, high asset returns and high risk tolerance.

The investment income of investment insurance will be guaranteed. Insurance experts emphasize that the return on investment of investment insurance is uncertain. Not all the premiums paid by the insured will be invested in the investment account, but the initial fee will be deducted or the bid-ask difference will be charged when entering the investment account, and some expenses may also occur after entering the investment account. Moreover, insurance companies may also charge a certain handling fee or refund the premium when providing services such as account conversion and partial collection.

Investment insurance is suitable for "short-term investment". Investment-linked insurance is not an ideal short-term financial product. Take universal insurance as an example. The income calculation base of universal insurance is the account value of the policy, that is, the funds paid by individuals, excluding the initial fee and account management fee. Due to the need to deduct the corresponding expenses, the income of the first two years of universal insurance investment cannot be guaranteed. If you choose to pay by installments, the initial expense deduction ratio is higher in the first five years, and the actual funds entering the investment account are less, and then the deduction ratio will gradually decrease.

Therefore, the income from holding investment insurance such as universal insurance in the medium and long term will be higher.

Dividend insurance is not savings.

Since the beginning of this year, due to the low deposit interest rate, some investors regard dividend insurance as a substitute for bank savings, and believe that dividend insurance can be used by insurance companies to concentrate huge insurance funds for investment and wealth management on the basis of ensuring the return of a fixed amount of insurance at maturity, which can preserve and increase the value. However, insurance experts remind that dividend insurance is mostly linked to life insurance, critical illness insurance and other security products, and its investment income is uncertain. If the insurance company is in poor operating condition, the investment return rate will be lower than the one-year bank deposit rate.

Insurance experts say that dividend insurance has no surplus, and dividend insurance has no dividend. Therefore, the income from dividend insurance is guaranteed but not fixed. Under normal circumstances, the insured can realize floating income through dividends.

Insurance experts said that dividend insurance is generally divided into two categories: investment type and protection type. The protection function of investment dividend insurance cannot be attached to various health insurance or major illness protection; Guaranteed dividend insurance products have the same function as traditional insurance products, focusing on providing disaster protection for policyholders, and dividend is only an incidental function. Therefore, people who focus on ensuring demand can choose some guaranteed dividend insurance products with long insurance period and strong guarantee function, instead of paying too much attention to short-term yield; For the insured with stable income in the short term and no large expenditure plan, it is a good choice to buy investment dividend insurance.