Buy insurance, do you want to add an exemption

Hello everyone, I am Pepe, recently an old friend came to me, saying that if he is sick and is checked out, it may be a disease in the insurance contract, the insurance he bought for his son, can he not pay the later premium. Here comes a knowledge about insurance, exemptions. Let's talk today, what is an exemption?

First, what is the policyholder exemption

Second, the types of exemptions

Third, what is the impact of the additional policyholder exemption on the policy

Fourth, the policyholder exemption is necessary

What is an insured waiver

Is the insured of the relevant agreed accident, then you can be exempted from the payment of relevant insurance fees, simply put, the insured has the above agreed insurance accident, will not affect the insured's protection, the later premium of this protection does not have to pay, the insurance liability is still valid.

In fact, this is the same as the insured's exemption from liability, except that the insured is replaced by an insured, and the insured's exemption mostly appears in the insurance of children, parents or husband and wife insurance.

Types of exemptions

The insured is exempt from critical illness, and the insured suffers from the agreed critical illness, and all premiums in the later stages of this product are waived

The insured suffers from the agreed moderate illness and is exempt from all premiums in the later stages of this product

The insured is exempt from mild illness, and the insured suffers from the agreed minor illness, and all premiums in the later stage of this product are waived

Death/Total Disability Waiver, in the event of death or total disability, all premiums for the later period of this product are waived

Final Illness Premium Waiver for The Insured: The Insured's Illness Reaches Terminal State, and all premiums for the later period of this product are waived

What is the impact of the additional policyholder waiver on the policy

1, the additional insured exemption function will increase a part of the premium, the increase in premiums affected by the age and gender of the insured

2, the additional insured exemption function will underwrite the health status of the insured, and when the insured's health is abnormal, it will have a certain impact on the underwriting of the main insurance policy.

3. The additional insured exemption function will occupy the insured's corresponding life insurance/serious illness exemption quota

Under what circumstances can be exempted (personal advice)

Insure your child.

If there is an "insured waiver" protection, I recommend that it must be attached, the reason is very simple, the child does not have any financial ability, once the parents change and can not pay the premium for the child, then the insurance is interrupted, the child will not have any protection. For cases where parents insure their children, the need for an "insured waiver" is the greatest.

Insure your spouse.

The same logic, because the spouse has financial ability, it is unlikely that the insurance will be interrupted due to changes in the insured like the insurance for the child, so the need for "insured exemption" is not so great. Whether or not to attach this benefit depends on individual needs and budget.

It should be noted that the essence of the "insured exemption" is to purchase a major illness insurance with an insured amount equal to the premium for the insured, and when the "insured exemption" is attached, the insured needs to make health notice. If the health notification conditions do not allow it, there is no way to attach it.