Critical Illness Insurance and Accidental Death: Liability and Benefit Considerations

Accidents are difficult to predict in life, but they happen all the time. When an accident occurs, it not only puts tremendous financial pressure on the family, but also has a great psychological impact on the family members. Therefore, more and more people start to buy insurance to reduce the risk. Critical illness insurance is a common type of insurance, then, if you buy critical illness insurance accidental death, the insurance company will pay?

First of all, we need to understand what is critical illness insurance. Critical illness insurance is a kind of insurance product with major diseases as the insurance responsibility. Generally speaking, the insurance responsibility of critical illness insurance includes a variety of common major diseases, such as cancer, heart disease, stroke and so on. If the insured person suffers from a major disease specified in the insurance contract during the insurance period, the insurance company will pay the agreed insurance benefit.

However, if the insured dies in an accident during the insurance period, will the insurance company pay the insurance benefit? This depends on whether the relevant clauses are stipulated in the insurance contract. Generally speaking, the insurance contract of critical illness insurance does not include the insurance responsibility of accidental death, so the insurance company will not pay for accidental death. If you want to get protection in case of accidental death, you need to purchase insurance products such as accidental injury insurance or personal accident insurance.

Apart from the agreement in the insurance contract, there are other factors to consider whether the insurance company will pay out. For example, if the insured hides his/her health condition or suffers from certain illnesses when purchasing the insurance policy without informing him/her in the insurance contract, the insurance company may refuse to pay out when settling the claim. In addition, if the insured person has intentionally injured himself or others during the insurance period, the insurance company may also refuse to pay the claim.

Another point to note is that if the insured person chooses short-term critical illness insurance instead of long-term critical illness insurance when purchasing the insurance policy, then once the insured person suffers from a critical illness specified in the insurance contract during the insurance period, the insurance company will only pay out the insurance benefit once, instead of paying out for every illness.

To summarize, if you buy a critical illness insurance policy and die in an accident, the insurance company will not pay out. Therefore, when purchasing insurance, in addition to considering the insurance liability of major diseases, you also need to consider other factors, such as accidental death, your own health status, insurance period, etc., to choose the right insurance product for you.