Some insurance plans have overlapping coverage, such as life insurance and accident insurance, which both provide accidental death coverage, and medical insurance and critical illness insurance will provide coverage in the event of a critical illness.

Therefore, the question often arises: can different types of insurance replace each other? To answer this question systematically, I recommend starting with the risks covered by the different types of insurance we are talking about.

If one type of insurance can completely cover the risks taken on by another, or meet all of your own insurance needs, you can consider replacing each other, otherwise it will not work.

For example, people often ask whether medical insurance can replace serious illness insurance, taking this as an example to see the specific judgment process. As we said earlier, medical insurance and critical illness insurance both belong to the category of health insurance, and it is easy to confuse when you are sick.

Of course, the answer is very positive – there is no substitute for different types of insurance, as the two types of insurance cover completely different risks.

Let's talk about why medical insurance can't replace critical illness insurance.Medical insurance is a more popular type of insurance, the biggest advantage is that the insurance cost is high enough, a few hundred yuan of premiums can protect millions of yuan.

  Medicare is reimbursed like Social Security, and the amount of medical expenses spent corresponds to the amount claimed (or in some cases slightly less). The key point here is that medical insurance only reimburses medical expenses.But we have to bear not only medical expenses during illness, but more importantly, if we are seriously ill, not being able to work during this period will cause a large income gap.

  There is no income for illness, but life goes on, and this part of the gap cannot be bridged by health insurance.Catering, education, rent and mortgages are all much-needed expenses.

And these costs can only be covered by critical illness insurance. Compared with medical insurance, critical illness insurance is to directly give you a sum of money (sum insured) after illness, and you can choose the use of funds yourself, which is the biggest use of critical illness insurance - to make up for the income gap during illness.

 In addition, medical insurance also needs to pay attention to several points: the premium is not static, it will be higher and higher in the later stage, and even the renewal cannot be guaranteed, which is worth saying, because this will directly affect our choice of insurance If you suddenly get seriously ill, just in time for the corresponding product to be removed from the shelves and cannot be renewed, it is difficult to change to other insurance products at this time, and our situation will be very difficult at that time

 So we came to the conclusion that insurance is not interchangeable, and each type of insurance has its own coverage, so we have to make more choices to ensure that our interests are maximized.

（Writer：Dacky）