How to choose serious illness insurance for children?


1.The insured amount should be sufficient

The purpose of purchasing children's serious illness insurance is to resist the economic risks brought by serious illness, and the insurance amount is too small to pass on the risks. When suffering from a serious disease, the first thing to face is a large amount of treatment costs. If a child is unfortunately seriously ill, the family needs to bear not only the cost of medical treatment, but also the follow-up costs of recovery period and off work to take care of the child or hire a nurse. Therefore, in consideration of these, it is recommended that if the budget is sufficient, the insurance amount should be higher.

2. The times of compensation are enough

At present, the children's serious disease insurance on the market has compensation for minor, moderate and severe diseases, and some have additional compensation in addition to the compensation within the scope of protection. When purchasing children's serious disease insurance, we should not only pay attention to the basic compensation limit, but also see whether the additional compensation limit is sufficient. Some children's serious illness insurance also has multiple claims for serious illness. At this point, we should note that in general, multiple claims are better than a single claim, and multiple claims without grouping are also better than multiple claims with grouping.

3. Whether there is exemption from the applicant

The exemption of the applicant means that after the occurrence of the exemption liability, the insured does not need to pay the premium in the later period of the main insurance contract, but can continue to enjoy the protection. When parents are unfortunately unable to pay the insurance premium, their children can continue to enjoy the insurance as long as they meet the conditions. This clause can effectively reduce losses in case of misfortune, so it is necessary to consider when selecting insurance.



4. Death liability

Some serious disease insurance for infants do not have their own death liability. It is suggested that the death liability should not be added to the serious disease insurance for infants. Because most serious disease insurance products do not compensate for the insured amount before the child reaches adulthood, the state has a limit on compensation for the insured amount of death for minors. In this way, if the death liability is added, the premium will be much more expensive, but the amount of compensation is small. It is suggested that parents should consider it after the children become adults.

5. Term insurance or life insurance

The advantage of life-long serious illness insurance for children is that it has a long guarantee period, no need to worry about renewal, and the premium is fixed. It will not increase year by year due to age growth or economic situation such as inflation. The disadvantage is that it is expensive. Regular children's serious illness insurance has a high cost performance ratio and is cheap, but the disadvantage is that once compensation occurs, there may be no way to buy serious illness insurance in the future, and the premium for re purchase after the expiration will become higher. Both have their own advantages and disadvantages. We need to start with our own budget and then look for products with high cost performance.

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