As we grow up day by day, we become the mainstay of society, and our responsibilities and pressures are increasing day by day.
The parents are slowly getting older, and all kinds of diseases begin to come to the door.
In case of a serious illness, we may not be able to come up with much money at once.
Or because of the expensive treatment costs, quickly empty the family's funds.
Therefore, buying insurance for your parents is not only for them, but also for ourselves.
However, buying insurance for parents is not an easy task.
Today we're going to talk about it,
What are the problems of buying insurance for parents around the age of 55? What other insurance can I buy?
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01
What problems will parents encounter when they buy insurance around the age of 55?
When we want to buy insurance for our parents, we often encounter these problems:
1. Older age, more restrictive
As parents get older, the risk of disease increases, and not only do they have fewer products to choose from, but their premiums are more expensive than those of younger people.
For example, if you buy critical illness insurance, you will generally buy it after you are over 50 years old, and it is likely that the premium you will have to pay is about the same as the sum insured that can be bought, or even exceed the sum insured, resulting in an "upside down" phenomenon.
Moreover, even if you are willing to spend more money on critical illness insurance, you can't buy too much coverage.
Because for the sake of risk control, the insurance company will limit the amount of insurance that can be insured.
Young people can buy hundreds of thousands or millions of insurance amounts, and only about 200,000 are allowed to buy when they are over 50 years old.
The sum insured is too low to make much difference.
2. Poor health, difficult to pass health notification
In addition to age, health is also a big obstacle.
Many people around the age of 55 have problems such as nodules, high blood pressure, diabetes, and heart disease.
In this case, it is difficult to buy cost-effective products, or additional fees and exclusions are required.
02
Parents are around 55 years old, what other insurance can I buy?
Therefore, to buy insurance for parents around the age of 55, we recommend looking at the following,
Especially the first two, it is recommended to buy it:
1. Million Medical Insurance
Medical insurance suitable for parents, mainly including million medical insurance and cancer medical insurance.
Both of these can be purchased at a lower premium, resulting in a higher sum insured.
However, the difference is that cancer medical insurance can only cover medical expenses related to cancer.
The medical expenses incurred by the Million Medical Insurance, whether it is due to cancer or other diseases, as well as hospitalization due to accidents, can be reimbursed if the claim conditions are met.
Therefore, the medical insurance is much stricter for the health of the insured, and it is not very friendly to some people who are not in good physical condition.
If the parents are in good health, then give priority to the million medical insurance for more comprehensive protection.
And try to choose the product;
If there are some minor problems that cannot be insured with million-dollar medical insurance, you can consider cancer prevention medical insurance.
After all, cancer is a high-incidence disease, and the older you are, the greater the probability of developing the disease, and it is also good to be able to protect this aspect.
2. Accident insurance
The reaction and physical fitness of middle-aged and elderly people are not as good as before, and it is easy to fall.
Therefore, it is necessary to give priority to accident insurance for middle-aged and elderly people.
3. Critical illness insurance/cancer insurance
Although the probability of suffering from critical illness around the age of 55 has increased, it is very necessary to allocate critical illness insurance.
However, at this time, the premium is relatively expensive, and the amount of insurance that can be purchased is not high, so it is easy to have the risk of premium inversion, which is not very cost-effective.
Therefore, if there is a need to configure critical illness insurance,.
As a kind of benefit-based insurance, cancer insurance is very similar to critical illness insurance, and can be popularly understood as critical illness insurance that protects malignant tumors.
In addition, cancer insurance has a wider age and more relaxed health notices.
It is very suitable for people who are in poor physical condition and cannot afford to buy millions of medical insurance and critical illness insurance.
4. Term life insurance
Term life insurance is configured for people with family responsibilities,
Parents around 55 years old, retired or about to retire, not the main source of income for the family,
At this time, the premium for term life insurance is also relatively high, so it is generally not recommended to buy it for parents.
5. Annuity Insurance/Incremental Whole Life Insurance
If the parents have been equipped with protection insurance,
You can choose annuity insurance/increased whole life insurance for your parents to make pension reserves.
Here my dad suggests that when configuring annuity insurance/increasing life for parents,
03
Recommended for parents to buy million-dollar medical insurance and accident insurance
There are many medical insurance and accident insurance products on the market, and we have compiled a few cost-effective products suitable for parents around the age of 55:
1. Popular medical insurance products
The above products can be guaranteed to be renewed for 20 years, regardless of whether the product is discontinued or a claim occurs within 20 years, the renewal can be guaranteed, which is stable and can help us save a lot of underwriting trouble.
In addition, these products have their own characteristics:
1) Pacific Blue Medicare
There are many commendable aspects of this product, mainly the following points -
Insurable purchased drugs: Specific drug insurance can be selected, which is clearly written into the terms, and the purchased drugs that meet the agreement can be reimbursed to solve the expensive drug expenses
Rich coverage: In addition to general and critical illness medical treatment, it also covers 55 specific diseases with moderate and mild diseases, and pays 10,000 yuan of critical illness care insurance
Premium discount: The preferential threshold for family single has been reduced from the original 3 people to 2 people, and 2 family members can enjoy a 95% discount on the family policy when they apply for insurance at the same time, and they can enjoy a maximum of 85% discount in the next year after completing the health management activity task
Low deductible: The deductible is shared among the three medical insurances, and the probability of payment is higher
2) Ping An Chang An long-term medical treatment
Low threshold for insurance and claims: up to 70 years old to be insured, support for spouse and parents, no claim deductible can be reduced to as low as 5,000 yuan
The advantages of family single are obvious: 2 people can become a family single, and they can enjoy up to 85% discount, and the family single can share the deductible
Powerful value-added services: 16 value-added services, the use of which does not limit diseases, and the threshold is greatly reduced
3) Kim Medical Insurance
Low claim threshold: 0 deductible for critical illness medical treatment, 10,000 deductibles for general medical treatment and mild and moderate illness medical treatment, and the deductible without claims can be reduced by 1,000 yuan year by year, and the minimum is 7,000 yuan
Excellent optional coverage: 3 optional liabilities can be guaranteed to be renewed for 20 years, especially the out-of-hospital special drug coverage is very practical, and it can reimburse 157 kinds of anti-cancer special drugs, including two Car-T special drugs
Low rates: Premiums are relatively low, and there is a premium discount for two or more family members, up to 15%
Of course, if your parents are old or in poor physical condition, you can't buy the above millions of medical insurance.
You can also consider products such as Golden Kirin, Medical Insurance Plus, and Blue Whale Million Medical Insurance with more lenient underwriting.
Of course, if you really can't buy millions of medical insurance, then you can consider equipping your parents with cancer prevention medical insurance: "What insurance can you buy when you are old and in poor health"
2. Popular products of accident insurance
1) Huatai Tiantian Bao
High accidental disability benefits: Accidental disability is paid according to the level, and the compensation sum insured is relatively high, for example, the accidental death benefit of Plan 3 is 100,000 yuan, and the accidental disability insurance amount is 300,000 yuan
The amount of accidental medical insurance is high: the maximum reimbursement is 50,000 yuan, which is a very high level compared with similar products on the market;
In addition, the elderly are prone to accidents such as fractures and falls, and this responsibility is also very practical for them.
Solid protection: In addition to general accident protection, there are also accidental fracture insurance benefits, ambulance expenses, practical medical advances, etc
Hospitalization allowance included: choose a plan of 50 yuan/100 yuan/150 yuan according to your needs
2) Safety Guardian (50-80 years old)
Good reimbursement for accidental medical treatment: Accidental medical reimbursement is not limited to social security, and can be 100% reimbursed after social security settlement
Comprehensive protection for middle-aged and elderly people: including fracture/joint dislocation and ambulance expenses for middle-aged and elderly people, which meets the needs of the population
Post-operative care services: Provide 3 times of accidental medical post-operative care services
In addition to this, it is worth mentioning that the product does not have a health notice and can be insured directly,
3) Zhong'an Xiaoxin Bao 2020
Comprehensive coverage: Basic accident benefit, hospital allowance, specific traffic accident benefit, ambulance expenses, etc.
Excellent reimbursement conditions: Accidental medical reimbursement is not limited to social security, 0 deductible, and the reimbursement amount is increased
Optional Fracture Fuel Pack: Added to increase protection against the risk of accidental fractures
Of course, after configuring the basic protection for the parents, we can also consider adding an annuity insurance/increased life for the parents to add an additional protection for the parents' pension.
Finally, if you want to configure the right medical and accident insurance for your parents,
Or if you're not sure which coverage is right for them, you can
04
Daddy concluded
Our parents' generation did not have a strong sense of insurance.
If you are seriously ill, you may fall into the dilemma of being poor due to illness or even having no money for treatment.
If you have the conditions, you can buy medical insurance and insurance for your parents as soon as possible.
On the one hand, it can make their old age more secure, and on the other hand, it can reduce their financial burden.
If you have any questions, please feel free to contact us here