What is the most important function of insurance?
It is leverage. Spend less and cover big costs.
Accident insurance has the highest leverage proportion among all the life insurance.
One adult spends just two or three hundred dollars and can get one million dollars of sum insured of accident insurance.
Accident insurance (accident death/disability) is equal to everybody. You can get the claim money as long as the situation conforms to the contract, which is very exciting.
I think that you don’t have to look around and just buy this insurance product.
But you need to pay attention that buying long-term accident insurance is really a foolish behavior. Many friends who have bought long-term accident insurance can’t understand and ask me to make it clear. As long as you have some knowledge about accident insurance, you will understand how foolish it is to buy long-term accident insurance.
When we are talking about the necessity of long-term insurance, what is the point?
We are talking about the stability of the insurance, which is an essential factor.
That is, ensuring the renewal of insurance.
As we all know, there are two barriers when we buy insurance: one is the health condition and the other is age.
The more physical problems you have, the more likely it is to be rejected in buying insurance.
The price will be higher and the choices fewer if you are older.
There are two advantages of stable renewal of insurance:
1. The liability coverage and the rate will not change and the price will be the same each year.
2. The renewal of insurance is stable without health declaration and the renewal will not be rejected after claim settlement. Even the product ended, renewal is available.
But unfortunately, accident insurance is different because it ignores the advantages of the renewal of insurance, making long-term accident insurance in a dilemma.
Because there is no health declaration for buying accident insurance. As long as you can normally live, even if you had cancer, you can buy insurance. The price of accident insurance is set in terms of the age, which is so broad that the price is the same for adults aged 18 to 65.
