With the progress of society, people’s acceptance of all kinds of insurance gradually increased, which in turn further promoted the development of the insurance industry. But the problem also follows, in the face of a wide variety of types of insurance which is the most suitable for their own? The following is not easy to distinguish between disability insurance andbriefly to help you make the most appropriate choice.
Disability insurance refers to the provision of all or part of health care and rehabilitation expenses to workers who participate in social insurance according to law when they lose all or part of their ability to work due to injuries and injuries, thus affecting their economic income, and subsidies to part of their economic income, so as to achieve the purpose of protecting their basic life of social insurance projects;
is critical illness insurance, which refers to when the insured suffers from a specific major disease, such as malignant tumor, acute myocardial infarction and other diseases, as stipulated in the contract of the insurance company, the insurance company shall provide fixed-benefit commercial insurance products according to the amount of insurance agreed in the contract.
Classification of severe disease insurance
1 According to the period of insurance can be divided into periodic insurance and life insurance
The term insurance is mainly based on the protection of severe diseases, and is guaranteed within a certain period of time. Generally, the balanced premium is adopted, but it is also a consumption type, general will contain death insurance liability.
2. According to the form of payment, it can be divided into additional benefit insurance, advance benefit insurance, independent benefit insurance, and main insurance bundle additional
Additional payment insurance needs to purchase other main insurance at the same time, and the premium cannot be returned when no claim occurs;
Early payment insurance need to buy other main insurance, most limited in the simultaneous insurance life insurance, personal payment of cash in accordance with the same amount of main insurance claims;
The independent benefit insurance includes the insurance liability of death and major diseases, and the liability is completely independent, and the two have independent coverage; The main insurance bundle is mainly based on the life and death insurance, and the major disease insurance is attached.
Disability insurance payment
The conditions for disability benefit are usually determined by disability assessment based on the degree of disability, which is generally expressed as a percentage. Most countries set the condition for partial disability benefit as more than 2/3 of the incapacity to work, and only a very few countries reduced this criterion to less than 1/2; The condition for full disability benefit, they are generally defined as 100% of incapacity.