Posted by The U.S. insurance market is very mature, and the degree of specialization in different insurance fields is extremely high.It is extremely important to buy the right insurance and choose the right company.A fan recently commented that it’s really not clear"U.S. Health Insurance"和"American Life Insurance"difference between.In this article, I will explain the differences between these products.
- The difference between "life insurance" and "health insurance" in the United States
- The difference between "life insurance company" and "health insurance company" in the United States
- How to choose the "right" "life insurance company" and "health insurance company"
The functional difference between life insurance and health insurance
Health insurance is a “consumer product” that helps pay for medical expenses, such as doctor visits, hospitalization, medications, examinations and procedures.This helps ensure that people can affordMedical expenses, And maintain good health.
Health insurance claims are paid directly to the hospital or doctor by the insurance company in the form of "reimbursement".
Life insurance has multiple attributes of "consumer goods" and "assets", and has multiple functions.
The "death compensation" of life insurance is the core function.In the unfortunate event of an accident, the life insurance company will pay death claims to your beneficiaries—usually family members.
PeopleLife insurance claims are paid directly by the insurance company in the form of "single cash" to the beneficiary for free disposal.The funds are usually used to make up for the family's future loss of income, and to pay for the outstanding expenses and debts such as funeral expenses, medical expenses and other debts-or to contribute to the children's college savings account or spouse's pension.This helps make the family’sWhole financial situationCan continue without deterioration.
in conclusion,Health insurance protects individuals, and life insurance protects families.
The difference between life insurance company and health insurance company
The business-specific life insurance company is a "financial services" company.This type of life insurance company usually provides life insurance,Retirement annuity insurance, Asset management, securities investment and other related services.
For example, the world’s largest insurance group-the German Allianz GroupAllianz Life Insurance North AmericaThe branch company only focuses on providing "asset management" type insurance services.Native AmericanWantong Mutual Insurance, Once controlled the famous Oppenheim Investment Fund.New York LifeIt is involved in real estate investment and the issuance of securities.
The business-specific health insurance company is a professional supplier of "medical consumer goods health insurance".This type of health insurance company focuses on providing health insurance products to the public, including consumer protection products for individuals, families, and businesses.
Some well-known health insurance company brands includeAetna,BlueShield / Blue Shield Medical Insurance,United Healthcare / United Health Insurance,Cigna,Humanaand so on.
in conclusion,According to the specific needs of the individual or family, seeking the corresponding professional service company is the focus of the purchase of American insurance.
How to distinguish between professional life insurance companies and health insurance companies?
In reality, someLife insurance companyIt also operates health insurance products.Some insurance groups with health insurance as their core business also operate some life insurance products, such as Mutual of omaha, Humana, etc.
Some large comprehensive insurance groups with traditional "auto insurance" as their main business also sell life insurance products or some health insurance products, such as AAA,State FarmAnd other well-known comprehensive insurance groups.
The dazzling market environment has troubled consumers: in the face of thousands ofInsurance company.Is there any way to quickly distinguish which insurance companies are professional life insurance companies and which are professional health insurance companies?
American Life Insurance Guide©️Provide one of the most direct ways to distinguish, that is,Enter the name of the insurance company in Google, You can directly understand the business area that this brand or company is best at.after all,Insurance companies themselves know their main business areas better than we do.
AetnaThe insurance company told the public that they are mainly engaged in health, 65-year-old red and blue cards and dental insurance.
AnthemThe insurance company emphasized that the main business is health insurance and 65-year-old red and blue card insurance.
State Farm InsuranceThe company's main business is house & auto insurance.
AIG Insurance CompanyThe emphasis is on "life insurance" and "global underwriting."
Allianz InsuranceThe company’s main business ispensionAnd life insurance, and indicate the focus on retirement.
Seeing this, I believe that our smart policyholders have learned from one another, and have mastered the tips on how to choose and insure various types of American insurance companies.
Article Summary: Which one should I choose between health insurance and life insurance?
The reality is,Insurance is better than no insurance.Whenever possible, the more comprehensive the protection, the better, which is like investing in children's education:Do what you can, there is no ceiling.
For health insurance, due to the existence of the ACA Act, the U.S. government encourages everyone to purchase it (mandatory in some states).This approach will give each family a financial backing, and the entire family will not be unable to bear the basic medical expenses due to a sudden serious illness.
Life insurance is a commercial insurance. For many people with families, money is needed for the mortgage, expenses, and growth and education of their children. If the family’s main source of income unfortunately encounters an accident, orSuffering from serious illness, Health insurance companies will pay medical institutions for treatment costs, and life insurance companies’ claims will help families who have lost their source of income to tide over the next financial difficulties.
(>>>Recommended reading:Does life insurance cover major diseases such as cancer and heart disease?）
"Health insurance" protects the life and health of individuals, while "life insurance" protects family finances.Most American families do need these two types of protection, especially if they have children, or if they have a full-time wife/sir. (End of full text)
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