I don't know if you have ever had such an experience: "so-and-so insurance company Xin Yao Supreme Comprehensive Protection Plan" you know it is an insurance, and the name is quite auspicious, seems to indicate a happy and healthy life. But the specific content inside, do not know. Even if some friends buy the insurance, they know how much they have to 索償 pay a year, how much the specific coverage, the exclusion conditions, etc. They do not know anything. Therefore, it's time to figure out the right way to buy insurance.
For example, whole life insurance, a type of insurance that includes the risk of death, death due to insurance. Who would take such a risk: the parents who will most likely be the breadwinners of the family, not the children. Most of these products will not be sold to children either. Thus you can see the product format. The most important thing in the insurance industry is liability, which determines the shape of the product. Therefore, whether you are in the business of selling insurance to a neighbor or a relative, or calling a telemarketing business, the most important thing you need is to be clear: what is the duty of this insurance product, the risk it takes and the problem it solves.
The insurance is divided into three main parts, the first part is the liability, the second part is the amount and duration of coverage. This is especially like when we buy a car, in fact, there are three other major parts to buying a car: the engine, the gearbox and the floor pan. However, what we Chinese consumers care most about, is not this (in proportion), but the brand, appearance, interior and functional configuration. Just as we ignore the three main parts of a car, we will ignore the three main parts when buying insurance.
If we ignore these three main parts, maybe this seat is not leather, maybe the interior is not as refined, maybe there is no sunroof, but these do not affect our use. The insurance industry is different. If you ignore the three main parts of insurance, you are likely to buy a "car" that you can't drive.
Speaking of liability, let's talk about coverage limits. Safety limits are very simple. Some people have a million dollars of coverage for the same illness, and some have 100,000, and the difference is so great that he is really "unfair". But when we get sick, we want a million dollars of coverage, and when it comes time to pay, we wish we were 100,000. And the fact that there are only 100,000 insurance consumers in China is for one simple reason: low coverage. There are many reasons why this can be a problem, such as not acknowledging and often just buying something random. For example, sales clerks are in a hurry to settle the bill, and the lower the amount of coverage, the lower the premium and the more money the customer spends. Exactly what the insurance amount is depends on how you price the risk.
The longest is a lifetime, the shortest is a day. Sometimes we use software that will pop up a page and fill out your name and ID to get one point of insurance. This cost is very low and the duration is exceptionally short just to get attention.
What a product is going to cover, how much coverage to buy, and how long it is guaranteed is also a simple question: ask your wallet. In short, a product like insurance is not a one-time thing; it is a risk plan that stays with you for the rest of your life.
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