Many filial children purchase their first insurance policy—a million-dollar medical insurance—for their parents.
While the intention to provide protection for parents is commendable, the harsh reality is that most people only know how to buy but not how to use it. As a result, they end up paying out-of-pocket for expenses that could have been reimbursed, sometimes amounting to tens of thousands.
It’s important to note that many million-dollar medical insurance policies on the market may appear attractive at first glance, but most are annual plans requiring yearly approval from the insurer.
This means you may be eligible to purchase the policy this year, but there’s no guarantee for the following years. For instance, if the product is discontinued or your parents file a claim due to illness, you might not be able to renew the policy the next year, leaving their coverage abruptly terminated. Therefore, when selecting a million-dollar medical insurance plan for your parents, prioritize policies with guaranteed renewal options. Currently, some products offer 6-year, 15-year, or even 20-year guaranteed renewal periods. A 20-year guaranteed renewal policy effectively locks in critical illness coverage for your parents for two decades, eliminating concerns about future eligibility. Such products are highly recommended. How can you identify a guaranteed renewal policy? Carefully review the insurance terms for explicit mentions of “guaranteed renewal,” as shown in the example below: (Blue Health Insurance Terms) Another critical and often overlooked issue when purchasing million-dollar medical insurance for parents is coverage for externally prescribed medications. 2. Coverage for Externally Prescribed Medications Many policies lack this feature, yet it’s essential for serious illnesses, which often require expensive, high-efficacy specialty or imported drugs. Conditions like cancer, for example, may depend on such medications for survival. Unfortunately, these drugs are typically excluded from public health insurance and come with exorbitant costs. Out-of-pocket expenses can range from thousands to tens of thousands per treatment course, potentially bankrupting an average family. If your parents’ insurance includes this coverage, even expenses amounting to hundreds of thousands can be reimbursed by the insurer. Always opt for policies that cover externally prescribed medications, ideally with 100% reimbursement, to ensure comprehensive protection for your parents. By addressing these two key factors, you can avoid major pitfalls when selecting insurance for your parents. 3. Reimbursement Scope Purchasing a million-dollar medical insurance policy is just the beginning. Understanding its usage during claims—what’s covered, what’s excluded, and reimbursement limits—is crucial. Many policyholders are unaware of these details, as illustrated in the following case: A claimant could have reimbursed tens of thousands in medical expenses for their father but was denied due to seeking treatment at a non-covered VIP department. Most million-dollar medical insurance policies only reimburse treatments received at standard departments of public hospitals (Level II or above). Claims from private or VIP departments are typically denied.This requirement is clearly stated in the policy terms, but many people overlook it when purchasing. To ensure you don’t make mistakes when you need it most, I’ve compiled a beginner-friendly guide to million medical insurance reimbursement for your reference.
To emphasize, the purpose of this guide is not to discourage you. On the contrary, because million medical insurance is highly valuable—covering millions in critical moments—I aim to educate every family on how to access funds for medical treatment when needed. However, purchasing insurance for parents can be challenging. With hundreds of products on the market, it’s difficult to choose. I’ve evaluated 714 million medical insurance products and selected the best options for parents. 3. Top Million Medical Insurance Products for Parents There are hundreds of million medical insurance products available, each with varying coverage and renewal conditions. Finding the right one is time-consuming and prone to pitfalls. To simplify the process, we’ve spent a week rigorously筛选出6款保障优秀，性价比高的产品供大家参考： Key recommendations: – For parents aged 55 or younger: Consider Blue Medical Care·Long-Term Medical Insurance. It offers comprehensive coverage, includes external medications in the contract, and guarantees 20-year renewal with 100% reimbursement. – Heart Medical Insurance is another excellent option, also guaranteeing 20-year renewal. It offers a family plan with shared deductibles and discounts. – Good Medical Care·Long-Term Medical (Flagship Edition) covers ordinary illnesses for 20 years and lifelong coverage for cancer and 11 cardiovascular diseases. It reimburses 30% for expenses within the 10,000 deductible, but renewal costs are higher and excludes common conditions like herniated discs and hemorrhoids. – The upgraded Golden Medical Care 2.0 is suitable for those over 55, but its “pre-existing conditions” clause is strict. If health disclosures are involved, consider other products. – For older parents: Medical Joy Hui Xiang Edition guarantees 5-year renewal, with eligibility up to age 69 (or 80 for family plans). It has lenient underwriting for conditions like hypertension and pulmonary nodules. – Zhen Ai Wu You Special Edition Plan 2 guarantees 6-year renewal and covers特需部 and some private hospitals, offering better医疗环境和服务 for预算充足的朋友.However, it is important to note that million-yuan medical insurance has stringent health requirements, making it difficult for parents with poor health to qualify. If you are unsure which product suits your parents or how to handle health declarations, you can click the card at the end of the article to schedule a consultation with a professional planner for assistance.
Relying solely on million-yuan medical insurance is insufficient for comprehensive coverage. Below, I will guide you step-by-step on how to practically configure a full set of practical and comprehensive insurance plans for your parents, which you can use as a reference. 4. Affordable Insurance for Parents at Just Over 1,000 RMB per Person In addition to medical insurance, we also recommend purchasing accident insurance for your parents. As they age, their bones become more fragile, and their mobility may decline. A simple fall could easily result in a fracture. With accident insurance, expenses for outpatient visits or hospitalization can be reimbursed. Many friends have mentioned that their parents are older or in poor health, making it difficult to find suitable million-yuan medical insurance. In such cases, cancer medical insurance and inclusive medical insurance (Huimin Bao) can serve as alternatives. These options have lenient underwriting requirements, making them accessible even for parents with severe conditions like high blood pressure, diabetes, or cancer, or for those of advanced age. Based on the above configuration approach, below is a sample plan I designed for a friend’s parents, with a monthly premium of just 268 RMB—affordable for almost every family and offering excellent value for money: If your parents have conditions like Type 1 diabetes or Stage 3 hypertension, you can refer to the father’s plan. If they are in relatively good health, the mother’s plan may be more suitable. 1. Mother’s Plan: Renewable Medical Insurance + Accident Insurance Million-Yuan Medical Insurance: Since the mother is in good health, she was enrolled in the Blue Medical Insurance·Long-Term Medical Plan, which covers large hospitalization expenses due to accidents or illnesses. It guarantees renewal for 20 years, ensuring stability even after claims. After deducting the 10,000 RMB deductible, eligible hospitalization expenses are 100% reimbursable, significantly easing financial pressure. Blue Medical Insurance Pacific Health Insurance Medical Insurance 20-Year Renewal Guarantee Optional Outpatient Drug Reimbursement View Review Accident Insurance: Little Bee 5 (Classic Edition) covers medical expenses for accidental injuries and provides a 500,000 RMB payout for accidental death. Little Bee 5 Pacific Property Insurance (PICC) Accident Insurance Unlimited Social Security Coverage for Accident Medical Expenses Includes Sudden Death Coverage View Review 2. Father’s Plan: Cancer Medical Insurance + Inclusive Medical Insurance (Huimin Bao) + Accident Insurance Cancer Medical Insurance: Due to the father’s poor health, many medical insurance options were unavailable. After careful selection, he was enrolled in the Blue Medical Insurance Lifetime Cancer Plan, which covers treatment costs for cancers such as liver, lung, and rectal cancer, with lifetime coverage.Huimin Bao: To cover treatment costs beyond cancer, we supplemented it with Zhongmin Bao, which has no health requirements. Zhongmin Bao covers both in-network and out-of-network medical expenses, providing robust overall protection.
This insurance plan costs just over 1,600 RMB per person to fully cover parents’ insurance needs. My friend mentioned feeling much more at ease with this arrangement! This plan is particularly suitable for parents aged 50 to 70 and is highly recommended for reference. 5. Final Notes Parents often endure discomfort in silence, fearing both medical expenses and burdening their children. Within our means, we can secure insurance for them, reassuring them that medical costs are reimbursable and encouraging them to seek treatment without worry. Even if we cannot always be by their side, this peace of mind brings immense comfort—a true blessing of filial piety.
