Definition of critical illness insurance: Critical illness insurance refers to a health insurance product that pays insurance premiums when the insured occurs a disease agreed in the insurance contract during the insurance period, reaches an agreed disease state or performs an agreed surgery, and its purpose is to provide financial support for the treatment of major diseases with huge drug costs.
Critical illness insurance product is a kind of sickness insurance product in health insurance, and the obligation to pay insurance benefits is fulfilled only when the insured person has a risk event that meets the definition of critical illness insurance. Critical illness insurance must cover truly "significant" illnesses that can significantly affect life expectancy and lifestyle. This is why some qualifiers or even exclusions have been added to the definition of "serious" disease.
The "critical illness" covered by critical illness insurance must meet two conditions: First, the treatment cost is huge, and the disease requires more complex drugs or surgery
who pays high medical bills; Second, the condition is serious, which will affect the normal work and life of patients and their families for a long time
Critical illness insurance has two functions, one is to pay the insured person's high medical expenses due to illness, disease state or surgical treatment; The second is to provide economic security for the insured, and to reduce or avoid the economic difficulties of the insured's family as much as possible to maintain their normal life and follow-up treatment.
Judgment criteria for critical illness insurance compensation: From the perspective of the origin, purpose and main insurance responsibilities of critical illness insurance, the judgment criteria for critical illness insurance compensation are whether the insured has contracted a disease, reached the agreed disease state or undergone the agreed operation during the insurance period, and the medical expenses of other events of the insured are not directly related.
Critical illness insurance is a life and death insurance policy, the effect of which is not the end of life, on the contrary, it stands on the same front with the insured to fight the disease together. When the insured suffers from a critical illness, he or she can apply for a claim as long as he presents the disease diagnosis certificate and relevant documents. The insured can use this claim to receive the most favorable treatment, thereby prolonging the precious life.
Although critical illness insurance has only been around for 20 years, it has grown rapidly in many countries and is also popular with residents. From its origin, critical illness insurance from the first day of its birth is to use the power of commercial insurance to achieve humanitarian protection and care, in the later national reality, this purpose has never been lost, this insurance as a supplement to the social medical security system and financial assistance for seriously ill patients, played a prominent role.
Standardizing the definition of critical illness insurance will help achieve its original purpose. However, many questions still await. Critical illness insurance is a kind of commercial insurance, how the market will react, how the market will accept this norm, will ultimately determine whether the policyholder can get real protection, whether the insurer can truly perform the insurance obligations.