We know that million-dollar medical insurance and critical illness insurance are both insurance that can provide major illness protection, but the prices of these two are very different. They both obviously cover major illnesses, so why are the prices so different?
Many people often find themselves in a dilemma when faced with the two types of insurance: critical illness insurance and million-dollar medical insurance.
Next, let’s take a look at which is more important, critical illness insurance or million-dollar medical insurance? How should we buy it?
1. Which is more important, critical illness insurance or million-dollar medical insurance?
Because the compensation conditions for million-dollar medical insurance and critical illness insurance are different, million-dollar medical insurance is a reimbursement type insurance. Only when the insured’s medical expenses exceed the deductible, the excess can be reimbursed.
Critical illness insurance is a payment-type insurance. When the insured person suffers from the disease covered in the contract and meets the claim conditions, he or she can receive an insurance payment.
The insured can use this money at his or her discretion. It can be used for medical expenses or to make up for loss of income due to inability to work during treatment.
Therefore, there is no definite answer as to which is more important, critical illness insurance or million-dollar medical insurance. It still depends on the individual’s actual situation and needs.
2. How to buy critical illness insurance and million-dollar medical insurance?
If you are more concerned about the protection of specific major diseases and hope to receive an insurance payment for treatment, rehabilitation or to compensate for income loss after diagnosis, you can buy critical illness insurance.
If you are more concerned about reimbursement of medical expenses and hope to get financial support when you get sick or injured, you can buy a million-dollar medical insurance.
In summary, million-dollar medical insurance can reimburse our medical expenses, and critical illness insurance can supplement our income loss during illness. The two types of insurance can complement each other, and the best way is to configure them at the same time, so that we can obtain more comprehensive protection, be more calm when facing health risks, reduce the financial burden, and provide better life security for ourselves and our families.
3. Summary
In general, both critical illness insurance and million-dollar medical insurance are important. No matter which insurance product you choose, you need to make a choice based on your actual situation to protect the health of yourself and your family.
