What are the advantages and disadvantages of multiple insurance of Xinhua Life Insurance?

Advantages of New China Life's multiple insurance:

1. Multiple payment guarantee for serious illness: After purchasing multiple insurances, you can get multiple payments even if you suffer from mild illness or serious illness for many times. At the same time, multiple guarantees have also done a good job in other guarantees.

2. Specific critical illness insurance premium: If six specific diseases are diagnosed, the high medical expenses will also be a huge burden for ordinary families. Multiple insurance will pay an extra 20% premium. These six diseases include brain cancer, bone cancer, leukemia, pancreatic cancer, major organ transplantation or hematopoietic stem cell transplantation and coronary artery bypass grafting. The specific serious illness insurance benefits with multiple guarantees have better alleviated the economic pressure of ordinary families.

Disadvantages of multiple insurance of New China Life Insurance:

1. Unreasonable disease grouping: Dobebo groups high-risk cancers with other serious diseases. If you unfortunately have cancer, other serious diseases in the same group will not be paid.

2. The probability of multiple payments for serious illness is low: 7 for serious illness and 22 for mild illness. There are many payments, but the premium is not cheap.

3. The interval between multiple payments for cancer is too long: the interval between multiple payments for products with cancer for the first time reaches 5 years. According to statistics, the probability of cancer metastasis and recurrence is about 80% within 3 years, and 10% occurs within 3-5 years. In other words, if cancer can survive the fifth year, the probability of recurrence in the future will be greatly reduced, so five years is a threshold for most cancer patients.

4. Multiple payments are converted into single payments: the 85-year-old limit appears many times in multiple insurance clauses. In other words, once the insured's 85th birthday is over, the multiple guarantees in New China Life Insurance will become the single guarantee in New China Life Insurance.

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