First, it can be delayed for 60 days.
The insurance company will still be liable for compensation, but when paying, the insurance company will deduct the insurance premium owed by the insured. If the premium is not paid for more than 60 days, the validity of the policy will be suspended, and the insurance company will not be liable for compensation if an accident occurs after the validity is suspended. However, it is not "termination". Within two years after the termination of the contract, the insured may apply for the policy to be reinstated. To apply for reinstatement, in addition to making up all unpaid premiums before, you must also pay a certain amount of interest, and submit the latest medical report for re-underwriting. After the underwriting is passed, the waiting period of the policy should be recalculated.
Second, critical illness insurance
The grace period of an insurance contract refers to the grace period given by an insurance company to the insured who fails to pay the renewal premium on time. The insurance law stipulates that the grace period is 60 days. During the grace period, even if the renewal premium is not paid, the insurance contract is still valid. If an insurance accident occurs during this period, the insurance company still needs to bear the insurance responsibility, but the unpaid insurance premium should be deducted from the compensation amount. However, if the insured fails to pay the renewal premium in full after the grace period of 60 days, the insurance contract will be terminated. After the insurance is suspended, it can only be restored if it is restored. In addition, there is no grace period for short-term insurance. In view of the shortage of cash and the difficulty in raising the premium during the payment period, various insurance companies have set a grace period of 60 days. During the grace period, the insured basically has a relaxed time to raise money or borrow money from relatives and friends, or adjust their financial planning to increase the premium.
Critical illness insurance refers to a commercial insurance behavior in which the insurance company pays the insurance money according to the insurance contract when some major diseases such as malignant tumor, myocardial infarction and cerebral hemorrhage occur as risks and the insured reaches the state of major diseases agreed in the insurance clauses.
1, critical illness insurance
From 2002 1 February1day, the insurance products defined by the old version of critical illness will be completely removed from the shelves. According to the new regulations, some diseases will be paid according to the severity, and the insurance can be renewed, and the number of diseases paid has also increased. The new regulations of critical illness insurance introduce the definition of mild illness for the first time, and divide the three core diseases of malignant tumor, acute myocardial infarction and stroke sequelae into two grades according to their severity, and determine the upper limit of the proportion of insurance coverage for these three minor diseases as 30% of the total insurance coverage.
2. critical illness insurance
1983 came out in south Africa, and the idea of this product was first put forward by surgeon Marius Barnard. His brother, Christine Barnard, was the first doctor in the world to successfully perform a heart transplant. Dr. Marius found that after heart transplantation, some patients and their families had financial difficulties and could not maintain the follow-up rehabilitation treatment. In order to reduce the financial pressure of the insured in case of serious illness or major surgery, he cooperated with an insurance company in South Africa to develop critical illness insurance.
3. Ministry of Health
According to the data released in June 2008, the probability of serious illness in a person's life is as high as 72. 18%. At present, the average treatment cost of major diseases is generally more than 654.38+10,000 yuan (excluding recovery costs and lost time). So, what do we rely on to resist this sudden risk? Critical illness insurance, in short, is disease insurance with illness as the condition of paying insurance money. That is, as long as the insured suffers from a certain disease listed in the insurance clause, regardless of whether or not medical expenses occur or how much expenses occur, he can get the fixed compensation from the insurance company.