Consumer insurance Q: I received a text message today saying what insurance I have.

Consumer insurance, as its name implies, is a kind of consumer insurance, that is, the customer (the insured) signs a contract with the insurance company (the insurer), and the insurance company makes compensation or payment according to the original agreed amount in the agreed time; If there is no insurance accident within the agreed time, the insurance company will not refund the premium paid.

At present, there are many consumer insurance products on the market, mainly including the following categories:

1. Consumer accident/accident medical insurance (often in the form of "simple insurance card")

2. Consumer critical illness insurance

3. Consumer term life insurance

4. Consumer hospitalization expense compensation/allowance insurance

5. Comprehensive travel/study abroad insurance (often sold directly through insurance websites and sold by travel agencies)

Non-guaranteed renewal/limited year guaranteed renewal

Consumer hospitalization expense reimbursement/subsidy insurance generally does not guarantee renewal, or only promises to guarantee renewal for a limited time. During the guarantee period of reimbursement/subsidy insurance for consumer hospitalization expenses, if an insurance accident occurs, whether the consumer insurance will continue to take effect will be confirmed by the insurance company after re-insurance. If there is a "guarantee renewal within 5 years" clause, all the guarantees will remain valid in the following year, and the insurance company will conduct a second underwriting after 5 years to confirm whether it will continue to take effect.

Premium rate

Consumer insurance includes a unified rate (the premium is equal in each period during the payment period) and a natural rate (the premium is adjusted every year with age). Prices are generally not high, and the premiums of various products range from tens to hundreds of yuan a year to cope with various unexpected risks. Even if the income is temporarily interrupted during the payment process, this guarantee is still valid during the period, so there is no need to worry about the pressure of renewing payment like savings insurance, and it will not affect their personal quality of life.

Insurance mode and contract form

With the expansion of sales channels and the popularity of electronic payment, customers can now complete insurance through online direct sales, telephone sales and other channels, through insurance salesmen, insurance companies/insurance intermediary companies. At present, consumer insurance in the market often appears in the form of "simple insurance card and electronic insurance policy".