In recent years, family policies have begun to attract public attention. This is not only because a family policy can allow three generations of a family to be insured under one policy, meeting the needs of each member and providing shared benefits, but also because the coverage includes various aspects such as life insurance, accidents, critical illness, medical, and pension security. Staff from Xinhua Insurance said that if used properly, a family policy can achieve the goal of purchasing more coverage with less money. However, consumers should pay attention to the following aspects when purchasing a family policy.
Firstly, intergenerational insurance is not allowed. A family policy usually requires establishing a primary policyholder who can insure their previous and next generation, but cannot insure two or more generations above or below them. In other words, the primary policyholder can insure their parents and children. Additionally, the primary policyholder must be at least 18 years old, and a family policy requires at least two people to be insured.
Secondly, reasonably determine the scope of coverage. For family policies, the main policyholder should be the family's breadwinner, and their coverage should be sufficient. They can purchase whole life insurance, term life insurance, critical illness insurance, pension insurance, accident insurance, and hospitalization medical insurance. For children, the focus should be on children's educational funds and critical illness insurance. For female family members, it is important to consider women's disease insurance and maternity health insurance. For the elderly, the focus should be on accident insurance and medical insurance.
Thirdly, adhere to the principle of living within your means. For family policies, premium expenditures should be around 10% of the household income. If this standard cannot be reached, the insurance products can be appropriately adjusted. Moreover, after purchasing a family policy, it is best to conduct an annual "health check" on the entire family's coverage situation, adjust the coverage items in a timely manner, and make full use of the protection function of additional insurance.
Fourthly, give importance to the premium waiver clause. When purchasing a family policy, the premium waiver clause should be given due importance. The waiver clause stipulates that within the contract period, if the primary policyholder encounters an accident or loses the ability to pay premiums for any reason, the unpaid premiums can be waived, and the insurance coverage for the insured remains valid.
This article is reprinted from "Guo8 Insurance Network": http://www.guo8.com/baoxian/201101/88787.html