Critical illness insurance began to increase the liability of the Special Care Fund for Deaths, the general content of this cover is that when you buy critical illness insurance, you will claim when you get sick, and you will also claim when the patient dies! However, there must be a certain number of years between the first critical illness and death, If you die less than 1 year after a critical illness, you will not receive additional financial compensation if you survive for 4 years after suffering a critical illness, you will receive a further 100% of the death benefit on subsequent deaths. Although there are many restrictions, the death liability of critical illness insurance can finally come in handy.
Generally speaking, there are serious illnesses that are prone to high incidence at all ages of life, regardless of gender or age. For example, the high incidence of serious illnesses in children is leukaemia; men are susceptible to liver and lung cancer; women are susceptible to breast and thyroid cancer. When an insured person suffers from a specific critical illness as agreed in the contract, the insurance company will also have an additional loss in paying the basic premium. As to how much this 'extra' is, it depends on the benefit rules and the type of illness of the different critical illness policies. The specific illness liability is to allow us to receive more compensation in the event of certain critical illnesses, further reducing the financial risk.
It is recommended that in the case of budget excess, in the case of excess of basic protection, you can focus on purchasing products that cover additional liability for specific diseases.
In recent years, the protection of malignant tumors and cardiovascular and cerebrovascular diseases has become increasingly important due to their very high recurrence rate. According to the insurance company's critical illness insurance claim report, the cancer claim rate is the highest, accounting for 60-80% of the overall claim data, which is the highest incidence of critical illness; Cardiovascular and cerebrovascular diseases, such as acute myocardial infarction and stroke sequelae, the incidence of serious diseases is also quite high，After the end of cancer treatment, the probability of recurrence and metastasis is as high as 80% within three years. In addition, most cardiovascular and cerebrovascular diseases are almost incurable and mainly rely on long-term medication adjuvant treatment. This also means that after a few years of illness, the probability of serious illness is still very high.
For people with recurring cancer and cardiovascular disease, it would be like a blessing to receive the benefits of critical illness insurance again." Combining these two factors, it is essential that multiple claims for cancer and cardio-vascular are best added up when purchasing critical illness insurance for adults.
The above information will enable us to have a clearer understanding of the claims for different illnesses when purchasing critical illness insurance, and to choose an insurance product according to our needs so that we can maximise our claims if we have a health crisis and need a large sum of money for medical treatment.
