What is an insurance policy? The insurance policy contains our personal information and all the information about the insurance products. Through the policy, we can know who the insured is, what the protection is, how long the protection period is, and how much the annual premium is ... Once the policy is generated, there will be a policy number, which is unique, and we can query all the contents of the contract through this policy number.
What contents of the insurance policy need our attention?
1. Personal information on the insurance policy
The personal information on the policy is mainly the applicant, the insured, the beneficiary and the effective time. The insured here generally refers to the person who buys this insurance, the insured is the person covered by this insurance, and the beneficiary is the person who receives the insurance money after the insured is out of danger.
There is also an effective time on the policy. Many people think that once insurance is insured, it means that it will take effect. However, not every insurance will take effect immediately. Different types of insurance will have different effective time. Usually accident insurance will take effect immediately the next morning, but like many personal insurances, there is a waiting period. Only after the waiting period, the insurance contract can be called effective, otherwise the insurance company will not settle claims during the waiting period.
2. Product information on the insurance policy
In addition to paying attention to the personal information of the policy, we should also pay attention to the product information of the policy. For example, whether the insurance you buy is critical illness insurance or medical insurance, many people don't know what insurance they buy after buying it. How much insurance did you buy, 300 thousand or 500 thousand? How much premium do you have to pay every year? These contents can be seen in the product information of the insurance policy.
In addition to these simple and easy to understand, some policies will have special agreements, which is very important, because according to the provisions of the insurance law, if there is a conflict between the terms and the special agreements, the special agreements shall prevail. Therefore, when reading the insurance policy, we must pay attention to the specially agreed parts in the insurance policy.
Nowadays, online insurance sales are booming, but many friends worry that electronic insurance policies bought online have no legal benefits and will not affect claims. Bian Xiao explained here that electronic insurance policies have the same legal effect as paper insurance policies.
What should I think of the insurance clause?
The content of insurance contract not only combines financial, medical and legal knowledge, but also is very strict. There are at least thousands of insurance clauses. Among so many insurance clauses, how can we find a needle in a haystack and get something that we think is meaningful and valuable?
Bian Xiao believes that we can start from these aspects: insurance liability, liability exemption and cash value.
1, insurance liability
Insurance liability is easy to understand, that is, what does this insurance protect? For example, accident insurance protects accidental injuries and accidental medical treatment, critical illness insurance protects major diseases, medical insurance protects disease medical treatment, and property insurance protects property safety ... After the insured has an insurance accident, the insurance company shall bear the corresponding claims liability according to the relevant provisions of the insurance contract.
2. Exemption from liability
In addition to knowing what protection you have received, you should also know that you have not received any protection. Exemption from liability means that these liabilities will not be borne by insurance companies. For example, in some extreme cases, such as some violations of law and discipline, drug abuse and alcoholism, HIV infection, etc., insurance companies will generally be exempted from liability.
The content of liability exemption is usually shown in bold, and this part is also very important, so everyone should pay close attention to it. For example, accident insurance, liability exemption will definitely write about accidents caused by drunk driving, and accident insurance will not be compensated.
3. Monetary value
Short-term insurance has no cash value, while long-term insurance generally has cash value. Cash value will be used when surrendering. For example, many people want to surrender their insurance after paying the premium for several years. At this time, the money refunded by the insurance company belongs to the cash value.
When many people surrender their insurance, they will find that they have paid tens of thousands of premiums for several years and only returned a few hundred. The premium we pay includes the operating cost and risk-taking part of the insurance company. Generally, there will be a cash value table in insurance contracts. Friends who want to surrender can check how much they can refund against the cash value table.
Quote from the article: What do you think of insurance contracts?
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