Since its debut in 2016, million medical insurance has quickly become a ‘viral’ product in the insurance industry.
For just a few hundred dollars a year, it covers millions in medical expenses, alleviating the fear of unaffordable healthcare for ordinary people. As a result, many individuals’ first insurance policy is a million medical plan. However, it’s crucial to emphasize that million medical insurance should not be purchased casually. Many people have faced dire consequences, such as being unable to claim hundreds of thousands in medical expenses due to choosing the wrong product. To help you avoid these pitfalls, this article delves into the hidden truths of mainstream million medical insurance policies. Additionally, we’ve curated a ‘Top Product List’ to simplify your decision-making process. By the end, you’ll gain valuable insights. Let’s begin! 1. The Overlooked Pitfall of Million Medical Insurance The benefits of million medical insurance are well-known: comprehensive coverage, high claim limits (up to millions), and value-added services like expedited specialist appointments, hospitalization arrangements, and upfront medical expense payments. However, it has a critical flaw—renewability. Most million medical plans are annual policies without guaranteed renewal. After each term, the insurer reassesses your health condition. Only if you pass the review can you continue the coverage. This means eligibility one year doesn’t guarantee it the next. For instance, a policyholder who underwent major surgery and successfully claimed benefits might be denied renewal the following year. This leads to two severe consequences: First, many serious illnesses require years of treatment. Without renewal, patients must bear the full cost of subsequent medical expenses. Some might argue, ‘If I can’t renew this product, can’t I switch to another?’ Unfortunately, no. This brings us to the second and most critical consequence. Million medical insurance has stringent health requirements. After a major illness, qualifying for another high-quality product becomes nearly impossible, leaving you without critical coverage. While illness is unpredictable, there is a solution. Although most plans lack renewal guarantees, some products now offer 6-, 15-, or even 20-year guaranteed renewal. When purchasing, prioritize these policies—ensuring the guarantee is explicitly stated in the contract.It’s simple: look for the term 【Guaranteed Renewal】 in the policy. For example, the product below offers a 20-year guaranteed renewal period:
This means that for these 20 years, regardless of worsening health, previous claims, or even if the product is discontinued, your coverage will continue! Finally, beyond 【Guaranteed Renewal】, a top-tier million-dollar medical insurance policy should also excel in basic coverage, value-added services, and coverage for externally purchased medications. Our team has evaluated hundreds of popular million-dollar medical insurance policies, and only the following 6 passed our rigorous screening. Here’s the detailed analysis: If you prefer expert assistance or have health concerns, click the card below to let professionals help you choose. 2. Top 6 Recommended Million-Dollar Medical Insurance Policies on the Market After two weeks of meticulous research into the details of 717 products, we’ve narrowed it down to the 6 most options. Save this table for reference: Some products have lenient health requirements, making them suitable for parents or individuals with minor health issues. Here are the key findings: For comprehensive coverage: The new Pacific Blue Medical (Good Doctor Good Medicine Edition) is the top choice. As the name suggests, its standout feature is excellent coverage for externally purchased medications. Blue Medical (Good Doctor Good Medicine Edition) Pacific Health Insurance Medical Insurance 20-Year Guaranteed Renewal Covers Specialized Medical Care Reimbursement for Anti-Cancer/Externally Purchased Medications View Analysis Under DRG reforms, this coverage is highly practical. It also offers 20-year guaranteed renewal for stability. Compared to the older version, it has looser age restrictions: seniors aged 56–60 can enroll without medical exams if they meet the health declaration. Families can also enroll together. Its deductible is lower, potentially decreasing to ¥5,000 if no claims are made. Renewal prices are also more affordable for those under 60. The older Blue Medical and’s Heart Medical (another reputable 20-year product) remain available and. Key highlights: Blue Medical: Lenient exclusions, covering advanced treatments like gene and cell immunotherapy. Blue Medical Long-Term Insurance Pacific Health Insurance Medical Insurance 20-Year Guaranteed Renewal Optional Reimbursement for Externally Purchased Medications View Analysis Heart Medical: Offers enhanced coverage for women, e.g., up to ¥100,000 for post-breast cancer reconstruction and ¥10,000for 13 female-specific diseases. This makes it ideal for women seeking zero-deductible critical illnes coverage.Heart Health Insurance
Ping An Health Medical Insurance Guaranteed Renewal for 20 Years Optional Coverage for Female-Specific Diseases View Review Please note that the above three products have strict health declarations. If you have health abnormalities such as nodules, hepatitis B, or a history of hospitalization, you can click here to have a planner assist with underwriting. Good Health Insurance · Long-term Medical Flagship Edition is also excellent. It offers guaranteed renewal for 20 years for common illnesses and lifetime coverage for cancer and 11 cardiovascular diseases, making it the industry’s first million-yuan medical insurance with lifetime coverage. However, it is relatively expensive, especially for older age groups during renewal, costing significantly more than other million-yuan medical insurance products. Prospective buyers should take note of this. For those over 60 or in poor health, Zhong Min Bao · Million-Yuan Medical Insurance is an option. It requires no health declaration, is available up to age 105, and covers pre-existing conditions. For those with ample budgets seeking high-end medical experiences: Zhen Ai Wu You Special Edition is the ideal choice. Most mid-to-high-end hospital medical insurance products do not offer guaranteed renewal. If you have specific medical experience requirements, this product covers expenses at public hospitals (general/special/VIP/international departments) and designated private hospitals, with a 6-year guaranteed renewal period. It also allows flexible selection of a 0–20,000 yuan deductible at an affordable price. Zhen Ai Wu You Junlong Life Insurance Medical Insurance 6-Year Guaranteed Renewal Practical Value-Added Services Optional Special Medical Coverage View Review As you can see, million-yuan medical insurance products are diverse, and health declarations can be complex. For detailed information, click here to schedule a consultation with a professional advisor. In addition to medical insurance, adults should also consider critical illness insurance, accident insurance, and term life insurance to ensure comprehensive coverage. Below, we share a cost-effective plan suitable for most individuals. 3. Share a High-Value Plan: Full Coverage for Just Over 300 Yuan Monthly! Mr. Qian, aged 30, aims to allocate around 5,000 yuan annually for four major insurance types. With recent price increases in critical illness insurance, he hopes to secure coverage before his year-end birthday for lower costs. We designed the following high-value plan, costing less than 5,000 yuan annually (approximately 300 yuan monthly), with manageable payment pressure: Here’s the rationale behind this plan: Given Mr. Qian’s limited budget, we prioritized premium allocation to maximize value. Critical illness insurance and term life insurance are indemnity-based, paying the insured amount upon claim. To ensure adequate coverage, the insured amount should align with financial circumstances.Critical Illness Insurance: Designed to compensate for income loss due to illness, the coverage should be at least 3-5 times your annual income. Considering Mr. Qian’s current income and protection preferences, he opted for a 300,000 coverage until age 70. If diagnosed with cancer or other major illnesses, he would receive 300,000. By purchasing the policy before his year-end birthday, he secured it for just over 3,000, saving significantly.
Regarding purchasing insurance before birthdays, I recall a client, Ms. Wang, who delayed buying a critical illness policy for her husband before National Day last year. After he turned 35, the same policy cost 400 more annually, totaling 10,000 extra over 30 years—enough to buy an iPhone 16 Pro. This highlights the importance of timing to avoid unnecessary expenses. If your birthday is approaching and you need help selecting the right product, click here for a free consultation with a professional planner. Term Life Insurance: Ensures your family has sufficient funds to live for 5-10 years after your passing, covering living expenses and debts like mortgages or car loans. Mr. Qian purchased 500,000 coverage, providing his family with financial security in case of his untimely death. Million Medical Insurance: A 20-year guaranteed renewal product with comprehensive coverage, including out-of-hospital medications, for just over 200 annually—a cost-effective choice. Accident Insurance: Offers 500,000 coverage, reimbursing medical expenses from accidents and providing compensation for accidental death or disability. This comprehensive and affordable protection plan serves as a valuable reference for most individuals. Final Notes: Ordinary families fear major illnesses, which can deplete decades of savings or lead to insurmountable debt. Securing insurance early minimizes financial risks. We encourage everyone to prioritize coverage while young and healthy to safeguard their future.
