As the cake in the insurance market grew bigger and bigger, many insurance companies, while sticking to the danger scene, turned their attention to the children's field and launched new insurance for children. How to choose the child insurance that suits your child in a dazzling array of products? What issues should I pay attention to when insured? What are the misunderstandings that need to be avoided? The "Economic Information Daily" reporter recently interviewed some experts and industry insiders on this issue. They believe that insured child insurance should follow the principle of priority and choose according to family situation and age of children.
Increase in demand for children's insurance products
According to the data from the fifth census, the current population of children accounts for 22.89% of the total population. According to this ratio, the number of children and adolescents has reached 270 million. According to previous surveys, according to the current average living standard, raising a child from birth to growing up, a rough estimate requires 150,000 to 200,000 yuan, which does not include the medical expenses required for the child's growth, and the child from above. Non-compulsory education fees from kindergarten to high school admissions, school fees, class fees, counseling fees, etc.
Life Insurance commissioned a third-party survey agency to investigate 319 families with 0-10 children in December 2007. The results show that about 50% of parents are anxious about planning their children's future in the context of increased employment pressure.
According to experts, in Western developed countries, various types of child insurance policies are one of the seven or eight policies that must be bought by people. It can help young parents better plan their future for their children.
Professor Hao Yansu, Dean of the School of Insurance of Central University of Finance and Economics, said in an interview that child insurance has been developing abroad for decades. It is mainly to cope with certain uncertainties that may arise in the family during the growth of children. Including accidents, illnesses, education, etc., in the form of insurance to determine the unforeseen risks in the future to meet the growth needs of children.
"Although this field is only a short-lived, it is still relatively junior, but I believe that as the nationals continue to grow, this field will be more and more fully developed." Hao Yansu said.
New Child Insurance Focus Multiple Protection
In addition to single-function child insurance, some insurers are now developing new products with multiple guarantees for field requirements.
For example, the “挚” Health Growth Insurance Plan includes several features. First of all, it has a lifelong life insurance function, with long-term insurance coverage for children's standards; secondly, it provides insurance coverage for 19 major diseases that children are susceptible to until 25 weeks, and also covers daily hospitalization expenses compensation insurance; The program also established a fund for the growth of children, increasing the value of the account by means of dividends, and providing financial support at important moments in the child, including university, marriage, middle age, retirement, and five important stages. It can be said that for parents who want to insure in all aspects of health, education and education, this insurance is quite comprehensive.
Similar to this, Life Insurance has launched the “Wish Tree” education comprehensive protection plan. It is understood that this protection plan covers health and education security in a policy. During the period of protection, if a child unfortunately suffers from a major illness as stipulated in the contract, he will receive insurance money. In the payment of education funds, parents can freely choose the amount. At the key stages, such as starting high school in 15 weeks, entering university at 18 weeks, and possibly studying abroad after university graduation or starting a business, etc., will provide financial support.
However, financial experts suggest that this type of product is not always suitable for purchase. “Because of the coverage of life insurance or endowment insurance, children’s insurance products are much higher than similar products that were only paid for education and growth before 25, which is not necessary for families that are not very well-off. "." Zhang Jun, business manager of Fanhua Anxin Insurance Agency Co., Ltd. said.
First consider accident insurance, medical insurance, and major illness
When purchasing insurance for children, many parents did not buy the products that are most suitable for their family's economic strength and age for their children because of lack of basic understanding. Zhang Jun suggested Insured for child insurance should adhere to the principle of “light and heavy”.
First of all, follow the principle of “before and after, and then rush and slow down”. The risk of proneness in children should be insured first, and the risk of being far away from children should be insured. There is no need to buy it all at once, because insurance is also a kind of consumption, and it will change according to the specific situation.
Secondly, we must first focus on ensuring education. Many parents spend a lot of money to buy education insurance for their children, but they don't buy or neglect to buy accident insurance and medical insurance, which puts the function of insurance upside down. The probability of a child suffering from accidental injury is relatively high, and the probability of a headache, brain heat, and hospitalization is also much higher than that of an adult. Therefore, insurance experts recommend that the order for insurance purchases for children should be: accident insurance, medical insurance, and major illness insurance for children. On the basis of complete insurance, consider purchasing education insurance.
Third, the insurance period should not be too long. Considering factors such as inflation, it is now possible to pay a higher amount for a child who is insured to 60 or even a time to receive insurance money. In terms of quota, it may not be able to meet the needs of children after decades, which means that today it looks A higher insurance amount may not be worth the money at the time. Therefore, insurance should be concentrated on the child's early years, after he grows up, he can choose the appropriate insurance for his insurance.
In addition, in order to protect the interests of minors, children are entitled to death as a condition of payment.The maximum insured amount is limited to 100,000, so if you are insured by different insurance companies, you should pay attention to the total amount of insurance coverage, because once the insurance exceeds the limit, the insurance company has the right to refuse compensation. Your child's health and illness insurance, medical compensation, etc., which do not use death as a condition of payment, can be insured beyond this limit.
Children's insurance is divided into four categories
Experts say that child insurance is also called child insurance, which is used to solve the education, entrepreneurship, marriage expenses, and the risks of illness, disability, death, etc. that children may face during their child's growth. Insurance Products.
Because of the professionalism of insurance, many parents do not have a thorough understanding of it before applying for insurance. It is understood that child insurance is mainly divided into four categories: accidental injury insurance, health insurance, education savings insurance and investment financial insurance.
Accidental injury insurance is currently the most common type of child insurance, mainly for the vulnerability of children and adolescents. Premiums are usually not expensive, only tens to hundreds per year. The survey shows that accidental injuries have surpassed the disease as the number one killer of children's health. Accidental injury is the leading cause of death and disability in children under 18 years of age.
Compared with accidental injury insurance, health insurance is mainly for medical expenses, mainly including children's major diseases and children's hospitalization. According to the current status of the basic medical insurance system, children and adolescents are basically without medical security. Therefore, the use of insurance to share the child's medical expenses has become an important factor to consider when insuring child insurance.
In addition to accidental injury insurance and health care insurance, education savings insurance and investment wealth management insurance are increasingly becoming hot-selling insurance, especially for families with better conditions.
The survey shows that the cost of cultivating children in Beijing and Shanghai has risen sharply in recent years. From the perspective of direct economic costs, the total cost of children in 0-16 will be around 250,000, and the estimated household expenditure on higher education institutions will be as high as 480,000. Increasingly high education expenditures have made education savings insurance and investment wealth management gradually favored.