Recently, a reader left a message: he planned to buy insurance for his father in his 60s, and after shopping around, he found that many products could not be bought.
He regretted that he didn't buy insurance for his father in advance, and hoped that his father would help him make a set of plans, and it was best to recommend a few large company insurances.
Objectively speaking, it is indeed difficult for people aged 60 and above to buy insurance, but it does not mean that insurance cannot be bought.
Today, Dad has sorted out an insurance plan for the elderly, and friends who are keen on the products of Dabao should not miss it.
For quick enquiries, click here:
01
What are the risks that older people are prone to?
Dad has worked in the insurance industry for many years and has accumulated some experience and experience, which I will share with you below.
Before buying insurance for the elderly, we need to figure out what risks the elderly are prone to face on a daily basis.
Generally speaking, the risk of people aged 60 and above who need to be transferred is the risk of accident and the risk of disease.
1. Disease risk
As we age, older people have weakened immunity and are susceptible to some common chronic diseases.
Such as hypertension, diabetes, cardiovascular and cerebrovascular diseases, etc., require long-term medication and regular medical examinations.
Although there is medical insurance to reimburse most of the medical expenses, the remaining expenses are also a real expense.
At the same time, the probability of suffering from a critical illness has increased significantly, and the cost of medical care has to be high.
Taking cancer as an example, the cost of hospitalization, medicine, nursing care, etc., can be as high as hundreds of thousands or even millions.
In terms of the choice of insurance types, critical illness insurance and medical insurance can effectively transfer the economic risks caused by diseases.
People aged 60 and above apply for critical illness insurance, the age limit of the policy, and there will be an inversion of the premium, so it is not recommended to apply for critical illness insurance.
The three types of medical insurance, such as million medical insurance, cancer prevention medical insurance, and Huimin insurance, and critical illness insurance, can well transfer the economic risks caused by diseases;
As for medical insurance, there is still some room for choice.
Taking million medical insurance as an example, most products have an insurance age of 0-65 years old, and a few products have a maximum insurance age of 70 years old.
The insurance amount of the million medical insurance is sufficient and the reimbursement range is wide, and the expenses such as self-financed drugs and imported drugs can be reimbursed.
If it is because of strict health notices or premium issues, you can also choose a cancer prevention medical insurance or Huimin Insurance.
Cancer medical insurance specializes in providing cancer coverage, which is inexpensive and effectively transfers the risk of high cancer treatment costs.
2. Accident risk
Due to the decline of various body functions, the risk of accidents such as inconvenient legs and feet, osteoporosis, falls and fractures is also increasing.
Data show that the fall rate of the elderly in mainland China has reached 16%, and falls have become the leading cause of accidental injury and death among the elderly.
Accidental risks can cause more serious injuries than disease risks.
Because many diseases can be cured, accidents may lead to disability, follow-up care for a long time, and even take people's lives.
We can configure an accident insurance for the elderly in the family, which is an effective way to prevent accidental injuries.
The restrictions on accident insurance for the elderly are not as many as those for medical insurance, and some products can support the elderly up to 80 years old.
In addition, the price of accident insurance is also very cheap, and the annual premium for the elderly aged 60 and above is only two or three hundred yuan.
3. Pension issues
With the advent of an aging society, the pension of the elderly has become the focus.
At present, the legal retirement age in mainland China is 60 years old for men and 50/55 years old for women.
If you want to live a comfortable retirement life, you need to have adequate financial and material support.
Social security endowment insurance alone is far from enough, it can only meet the basic needs of daily life.
In this case, we can supplement commercial pensions for the elderly at home, such as annuity insurance, increased whole life insurance and other products.
Annuity insurance: The payment condition is that the insured survives, and at the agreed time, you can receive a sum of money from the insurance company every year/month until the death of the insured or the expiration of the insurance contract.
Incremental Whole Life Insurance: With constant premiums, the sum assured will increase over time until the end of life.
Through the function of insurance reduction or policy loan, part of the current price can be withdrawn to provide pension for the elderly and ensure the quality of life of the elderly.
If you don't need this money, you can put it in your account to continue to grow and leave a legacy for future generations.
As for which type of insurance to choose, you need to choose according to your own economic planning.
02
Recommended products for the elderly
Daddy screened the insurance products on the market and found 3 big insurance products suitable for the elderly.
1. Medical insurance
In the selection of products, long-term guaranteed renewal products should be preferred.
It can ensure that after the first successful application, there is no need to worry about not being able to buy millions of medical insurance for a long period of time.
Daddy recommends long-term medical treatment, and the products of Ping An Health of Dabao are suitable for people who prefer large company brands.
For the elderly, the advantages of this product are reflected in: guaranteed renewal for 20 years, and the maximum age of first insurance is 70 years old.
The main content of Changxiangan is shown in the following figure:
There are four basic security responsibilities.
Including reimbursement of inpatient medical treatment, special outpatient, outpatient surgery, and outpatient and emergency expenses before and after hospitalization.
The general medical insurance amount is 2 million, and the 120 critical illness insurance amount is 4 million.
Including proton and heavy ion medical treatment, and 55 special disease medical treatment of 2 million, the three share a deductible of 10,000.
For the parents of the spouse, the deductible can be reduced to as low as 5,000 yuan.
2 people can become a family single, up to 85% off, and the family single can share the deductible.
There are three additional responsibilities, namely special drugs for malignant tumors, ICU hospitalization allowance, and insurance benefits for online consultation drug expenses.
Taking out-of-hospital special drugs for malignant tumors as an example, including 100 kinds of special drugs (including 2 kinds of CAR-T special drugs), 0 deductible, can be 100% reimbursed.
Like the main insurance, it is guaranteed to be renewed for 20 years, and it is the product with the friendliest reimbursement rules for targeted drugs on the market.
2. Cancer prevention medical insurance
If you can't buy millions of medical insurance because of health problems, you might as well settle for the next best thing and configure cancer prevention medical insurance for the elderly at home.
After all, the incidence of cancer is significantly higher in the elderly than in the young and middle-aged population.
Cancer medical insurance specializes in providing cancer-related protection, as well as enjoying the advantages of zero deductible, lifetime guaranteed renewal, and relaxed health notices.
Daddy's recommendation is Blue Medical Insurance Lifetime Cancer Prevention Medical Insurance, which is underwritten by Pacific Health.
This product has a low insurance threshold, and people with advanced and chronic diseases can be insured.
Not only special outpatient clinics, outpatient surgeries and other benefits are available.
Effectively transfer the economic risks caused by cancer and reimburse various medical expenses caused by cancer.
It also includes two major protections, proton heavy ion and purchased drugs, both of which are guaranteed to be renewed for life.
For example, it includes 2 kinds of CAR-T anti-cancer injections (expensive and cannot be covered by medical insurance), which have a good effect on cancer treatment.
If the elderly in the family unfortunately suffer from cancer, they will be treated in 125 designated hospitals and enjoy 0 deductible and 100% reimbursement.
In other words, we don't have to pay a penny for the treatment costs within the sum insured.
3. Accident insurance for the elderly
Accident risks are everywhere, from able-bodied adults to the elderly.
What Daddy recommends is that Chinese Baoda Armor No. 5 Accident Insurance (Elderly Version).
This product is specially designed for the elderly group, 50-85 years old can be insured, and is friendly to the elderly.
Taking the Deluxe Edition as an example, the accidental death/dismemberment sum insured is 20, and the accidental dismemberment benefit is high.
The maximum reimbursement is 50,000 yuan, which is a very high level of accidental medical treatment compared with other similar products.
It can be reimbursed regardless of whether it is within the scope of social security or outside the scope of social security.
Self-paid drugs and diagnosis and treatment expenses can be reimbursed, but there is a deductible of 100 yuan each time, and the maximum reimbursement ratio is 100%.
Accident coverage specific to this group of people.
For example, if the fracture is dislocated due to an accident, the compensation will be proportional, up to 12,000 yuan.
After all, the elderly are prone to accidents such as fractures and falls, and this responsibility is also very practical for them.
In addition to general accident coverage, there are also accidental intensive care hospitalizations, ambulance expenses, practical medical advances, etc.
Big Armor No. 5 Accident Insurance (Senior Citizen Edition) provides 4 versions, and each version has been upgraded in terms of accidental death and disability, medical treatment, hospitalization allowance, etc.
It is very suitable for middle-aged and elderly people who fancy big brands and pursue comprehensive protection.
4. Commercial endowment insurance
In terms of the allocation of commercial pensions, Daddy recommends Fumanjia whole life insurance (dividend).
This product is underwritten by Sino-British Life Insurance, a Sino-foreign joint venture insurance company.
Sino British Life was established in 2003 and has a strong shareholder background.
It is a joint venture between COFCO Capital Investment Co., Ltd. and Aviva Group.
In addition, the fulfillment ratio of dividend insurance in the past and the average investment return rate in the past three years have performed very well.
With an increase of 2.5%, the effective sum assured will increase year by year, and the current price of the policy will increase steadily.
As a participating insurance product, it shares the operating results with Sino British Life Insurance and enjoys the right to distribute earnings in the form of policy dividends.
Enjoy the policy dividends on the basis of determining the guaranteed benefits.
In addition to this, this product also offers a wealth of value-added services.
Such as docking universal accounts, Sino-British Life VIP services, insurance trusts, pension communities, etc.
If you have spare money in hand, you can regularly add Xin Ruyi Yuexiang Edition (2% guaranteed) and Xin Ruyi Premium Edition (2% guaranteed).
This product has relaxed age requirements for insurance, and supports people up to 70 years old.
For those who have retirement planning needs, Fumanjia whole life insurance is an option worth considering.
03
Daddy concluded
The products shared with you today are all products of Dabaosi, and at the same time, they can fully meet the needs of the elderly.
If you're also keen on Da Bao Si products in front of the screen, then don't miss it.
At the same time, everyone should pay attention to the product itself, after all, the size of the insurance company is only a reference.
There are many insurance products and insurance companies on the market, if you don't know how to sift through them, you can click here to consult us