Medical insurance can be broadly divided into two types: “disposable” and “reserved”. Both are pros and cons, and I can’t conclude simply that “this is better!”
In the first place, the quality of insurance is not an absolute measure, and after all, there is only a criterion of “whether it is suitable for that person?” If so, the important thing when choosing an insurance policy is to understand the characteristics of each insurance policy and see if it suits your needs.
Therefore, here we will explain the advantages and disadvantages of medical insurance in terms of the characteristics of “drop-off type” and “reserved type” in an easy-to-understand manner. Finally, considering the merits and demerits, it also touches on the characteristics of those who fit the throw-away type and those who fit the accumulated type.
I would be grateful if you could refer to those who are worried, “Which medical insurance is better, littering and saving?”
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1. What is a one-way medical insurance?
Withdrawal-type medical insurance is a type of insurance that does not return money at the time of maturity, renewal, or premature termination. It is called “drop-out” in the sense that the premium paid = the premium paid, but not returned = discarded.
In this chapter, we’ll start by solving the “common misconceptions” about throwaway medical insurance, and then look at the pros and cons.
1-1 A common misconception about the throwaway type!
When you hear the word “drop”, you get a bad image of “wasting money”.
However, one-off medical insurance does not really throw away money. Those who have taken out medical insurance pay monthly premiums because they can receive security in case of illness or injury.
In the first place, an “insurance contract” is a contract that allows you to receive insurance money in the case of certain conditions (such as hospitalization for illness or injury) in exchange for paying monthly insurance premiums. In that sense, the difference between the drop-off type and the reserve type is only the conditions under which insurance money can be received.
It is desirable to choose the type that suits you without being overly dragged by the superficial image of words such as “drop-off” and “reserve”, and calmly grasping the features of both insurances .
1-2 What are the advantages and disadvantages of the throwaway type?
So what are the advantages and disadvantages of one-off medical insurance? Let’s take a look at each.
[Merits of drop-off type]
● The burden of monthly premiums is light
. One of the major advantages of drop-off type medical insurance is that the insurance premium is lower than that of the reserve type.
In the case of the reserve type, the premium will be added to the premium because the premium = the money to be refunded to the policyholder in the future. On the other hand, drop-off insurance premiums can be kept low because there is no additional premium.
If you are considering medical insurance with a premium-oriented stance, such as “I want to provide medical insurance at the lowest possible premium,” it can be said that the one-off type is suitable.
● Easy to review insurance One-
time-only medical insurance is also an advantage in that it can be easily reviewed when more favorable medical insurance is found after enrollment.
In the case of a reserve type, if you cancel early to switch to better insurance, you will receive a surrender value less than the premium paid, and it will often result in “loss”. There are many types of reserve-type that cannot receive insurance premiums equal to or greater than the premium paid unless they continue until a certain fixed period such as maturity or renewal.
On the other hand, the single-use type does not have any disadvantage such as “maturity insurance, surrender value and health refund will be reduced” even if you cancel in the middle. Therefore, when medical insurance with more favorable conditions comes out, you can make a decision without any hesitation.
If you are considering a future review when choosing medical insurance, or if you are considering a “bridge” insurance while your health condition is not good, a one-time-only medical insurance is suitable. It seems that there is.
● A large number of productsand a wide variety of guarantees Another advantage of one-off medical insurance is that there are many products and a wide variety of security.
It can be said that the accumulation type is a type that has appeared relatively recently, whereas the medical insurance that is disposable is a traditional orthodox thing. Therefore, one-time-only medical insurance is handled by most life insurance companies, and each company offers a wide variety of products. Every product has a unique guarantee, from which you can choose the one that suits your requirements.
While comparing and examining a large number of products, I want to carefully examine the security content that suits myself. For those who have such needs, we recommend a one-off medical insurance.
[Disposal of disposable type]
● If you do not get sick or injured, your insurance premium will be “
wasted “, but there is no help for it than it is a disposable type medical insurance, but when you expire, renew, or cancel I cannot receive insurance money. In other words, you can only get medical insurance if you are sick or injured and fall into a certain condition.
This is up to the idea, but “one-time medical insurance is like throwing away money if you don’t get sick or injured, and I think the risk of getting sick or injured is extremely low.” Then, one-time medical insurance is a waste of money. ” If you feel the disadvantages of littering in this way, you should avoid luggage-type medical insurance.
2. What is a reimbursable medical insurance?
Reserved medical insurance is a type of insurance that returns money upon maturity, renewal, or early termination. There is a variety of things to say, “money to return”, “maturity insurance money”, “surrender value”, “health refund”, etc., depending on the type of medical insurance.
Again, as in the previous chapter, I’d like to start by solving the “common misconceptions about funded health insurance.” Through this, we will give a rough image of the characteristics of the medical insurance system, and clarify its advantages and disadvantages.
2-1 Common misconceptions about the accumulated type!
Perhaps some people feel that the term “reserved” means that they can receive more insurance premiums than they paid in the future.
However, even if it is basically a reserve type, you can receive the same amount of insurance money as the maturity insurance payment or health refund when you reach a certain age, or at regular intervals after joining There seem to be many types that can receive a health bonus. In other words, except for special cases such as variable amounts and foreign currency denominations, it is almost impossible for insurance premiums to be paid to be higher than the claims received.
In that sense, it is better to keep in mind that although it is called a “reserved type,” it is not necessarily suitable for asset management, etc., with a large margin.
2-2 Advantages and disadvantages of the stacked type
Next, let’s take a look at the advantages and disadvantages of saving medical insurance.
[Advantages of reserving type]
● It is hard to waste
insurance premiums even if you do not get sick or injured. A major advantage of renewable medical insurance is that all insurance premiums are not wasted without illness or injury. Let’s go.
If you don’t have hospitalization or surgery due to illness or injury, you will not be able to receive insurance money. In other words, if you don’t get sick or injured while you’re enrolled in a one-time-only type, your monthly premiums will be wasted.
It can be said that reimbursement-type medical insurance responds to such a complaint that medical insurance is the same as throwing away money unless you get sick or injured. In the case of the reserve type, even if you stay healthy without illness or injury, the premiums paid in the form of health refunds, maturity claims and surrender value will not be wasted as a whole.
The point that “you can receive insurance money in some way, with or without illness or injury” is a major advantage of the reimbursement type medical insurance.
● Can be used as “savings” in some cases
One of the merits of saving medical insurance is that it can be used as a kind of “savings” depending on how it is used.
Unless you have a variable or foreign currency denominated insurance plan, you can get an idea of when and how much insurance money will be returned. And it is possible to think of the returning insurance money as a kind of savings.
Nevertheless, there is often no interest rate for a reimbursement type medical insurance, so you should examine whether your product characteristics are really suitable as a way of saving in light of your own purpose and situation.
[Disadvantage of the deposit type]
● In the
above, where the burden of monthly premium is large , we have told you that the paid premium is unlikely to be wasted because the deposit type medical insurance can receive insurance money in some form. . Surely, if you get insurance money other than when you get sick or injured with medical insurance, you may feel a bit more rewarding.
It is important to note, however, that health refunds, maturity claims and surrender values are not “bonuses” from insurance companies. Speaking of Zakkuri, you can imagine that the insurance premium for the one-off portion that guarantees hospitalization and surgery is added to the premium for this health refund, maturity insurance, and surrender value.
In other words, it may be better to say that the premium you paid will return to you over time. In addition, the burden of monthly premiums will be greater than that of the drop-off type.
Once you take out medical insurance, you generally do not cancel immediately. It is one of the disadvantages that the monthly insurance premium burden is high during this period because it will be continued over a medium to long term to some extent.
● Cancellations can result in “losses” if you cancel mid-career. Even if you say that you have
a reimbursement type of medical insurance, the premiums paid under all conditions do not mean that you will get a full return.
Basically, you can receive a maturity insurance claim or a health refund for the first time if you meet the conditions such as “continue insurance until a certain period of time” and “spend a healthy age.” So, if you couldn’t meet that condition, you could say, “In the end, you received less insurance money than you paid ….”
A typical example would be a case where a contract was canceled prematurely. In the case of the reserve type, if you cancel early without completing the insurance period, you will generally receive a surrender value.
You may think, “I can still get the insurance money even if I cancel,” but I want to keep in mind that the surrender value is basically less than the total premium paid. This is a disadvantage that you need to hold firmly when considering a deposit-type medical insurance.
● The number of products is small.
Medical insurance can be broadly divided into “drop-off” and “reservation-type = savings-type”, but the overwhelming majority is drop-off medical insurance. Speaking of medical insurance, it can be said that most are throw-away types.
On the other hand, it is difficult to say that there are a large number of medical insurances that have a reserve, and there are many variations in the number of products and coverage. When choosing medical insurance, those who prioritize security in case of illness or injury that suits them and want to compare and consider various security contents are not limited to savings type = savings type It may not be a good idea.