Million medical insurance emerged in 2016 and quickly became a ‘hot’ product in the insurance industry within just a few years.
For just a few hundred dollars a year, you can secure coverage of several million, eliminating worries about affording medical treatment. This has made it highly popular among many!
If your million-yuan medical insurance does not cover this benefit, you will have to pay the medication costs out of pocket, as the insurance company will not reimburse a single penny. This is why many people who have purchased insurance still end up paying tens of thousands of yuan for cancer treatment, facing immense financial pressure.
Therefore, it is crucial to choose a million-yuan medical insurance plan that includes “external drug coverage.” After reviewing nearly all products on the market, I found that at least 70% of million-yuan medical insurance plans lack this feature, with only a minority offering it. I have compiled a list of specific products in the fourth section of the product review. Be sure to pay close attention when purchasing, or you can click here to consult with a professional for detailed explanations and product recommendations. Additionally, it’s important to note that simply having external drug coverage is not enough. You must also pay attention to the details of the coverage, such as whether it reimburses 100% of costs and whether you can renew the policy afterward. These conditions are critical when needed, so don’t overlook them. 2. Expense Advance In simple terms, if you are hospitalized and temporarily short on funds to cover the treatment costs, this feature allows the insurance company to advance the payment for you. This helps alleviate urgent financial needs, preventing delays in treatment due to the need to borrow money. Among all value-added services, this is one of the most practical and deserves special attention. Currently, most mainstream million-yuan medical insurance plans offer “hospitalization/deposit advance.” After discharge, you can settle the claim based on the actual expenses. A more convenient option now available is “direct payment,” where the insurance company settles the bill directly with the hospital, eliminating the need for you to go through the claims process. It’s worth noting that the direct payment feature is more commonly found in mid-to-high-end medical insurance products, while standard million-yuan medical insurance typically offers advance payment services. Although the experience may not be as seamless, it still helps ease cash flow pressure. Choose according to your needs. 3. Stable Renewal One of the drawbacks of million-yuan medical insurance is its “unstable renewal.” It’s essential to choose a product that guarantees renewal. Many products on the market are short-term policies, covering only one year at a time. If you purchase it this year, you may not be able to renew it the next. A fan once shared their experience: they purchased a million-yuan medical insurance plan but were denied renewal the following year after making a claim. Moreover, due to their medical history, they found it difficult to purchase other products afterward, causing significant distress. Therefore, never underestimate this feature. Many serious illnesses require treatment for more than a year—sometimes three to five years or even longer.If your insurance only covers you for one year, you will have to bear the subsequent costs yourself, which is a significant disadvantage.
I have always emphasized that when given the option, you should prioritize purchasing products with guaranteed renewal. Currently, the longest available option is “20-year guaranteed renewal.” This means that after purchase, for the next 20 years, whether you have made a claim due to illness or the product has been discontinued, your coverage will remain unaffected, providing peace of mind. The three features I mentioned above are critical criteria for evaluating a million-yuan medical insurance product. However, frankly, few products on the market meet all these standards… After screening and evaluating 721 existing medical insurance products, we found only a handful that meet all the criteria. Below, let’s see which one stands out. 4. Which Million-Yuan Medical Insurance Is Most Worth Buying? First, we applied strict product standards to eliminate all non-guaranteed renewal options, then filtered out those with incomplete coverage, and finally condensed the results into this essential table. The winners are as follows: For comprehensive coverage: The top choice is Pacific Insurance’s new product, Blue Medical Insurance (Good Doctor Good Medicine Edition). As the name suggests, its biggest advantage is its excellent coverage for external prescription drugs. Blue Medical Insurance (Good Doctor Good Medicine Edition) Pacific Health Insurance Medical Insurance 20-Year Guaranteed Renewal Covers Specialized Medical Care Reimbursement for Anti-Cancer/External Prescription Drugs View Evaluation Under the DRG reform of medical insurance, this coverage is highly practical. It also offers 20-year guaranteed renewal, ensuring stability. Additionally, compared to the older version of Blue Medical Insurance, it has more relaxed age restrictions. Seniors aged 56-60 can purchase it without a medical examination, as long as they meet the health declaration requirements and can buy it directly with their family. Moreover, its deductible is lower. If no claims are made, it can be reduced to as low as 5,000 yuan. The renewal price for those under 60 is also more cost-effective. Of course, the older version of Blue Medical Insurance is still available, along with established 20-year products like Ping An’s Heart Medical Insurance. These are also worth considering, with the following highlights: Blue Medical Insurance: Lenient exclusions, covering advanced medical technologies like gene therapy and cell immunotherapy. Heart Medical Insurance: Offers more comprehensive coverage for women, such as up to 100,000 yuan reimbursement for post-breast cancer breast reconstruction. For 13 specific female diseases, there is a 0-deductible reimbursement of 10,000 yuan, making it possible for women to have 0-deductible coverage for critical illness hospitalization. Heart Medical Insurance Ping An Health Medical Insurance 20-Year Guaranteed Renewal Optional Coverage for Female-Specific Diseases View Evaluation However, please note that all three products above have strict health declaration requirements. If you have health abnormalities, such as nodules, hepatitis B, or a history of hospitalization, click here to have a planner assist with underwriting.The Good Health Insurance · Long-term Medical Flagship Edition is also excellent. It guarantees renewal for 20 years for common illnesses and provides 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 individuals upon renewal, costing significantly more than other million-yuan medical insurance products. Potential buyers should take note of this.
For those over 60 or in poor health, the Zhongminbao · Million-Yuan Medical Insurance is worth considering. It requires no health declaration, is available up to age 105, and covers general pre-existing conditions. Additionally, the newly launched Zunxiang e-Sheng 2025 is available up to age 70. While it does not guarantee renewal, its renewal history has been stable, and underwriting for certain conditions is more lenient. The latest upgrade includes unrestricted out-of-hospital drug and medical device coverage, making it a strong contender for older individuals. For those with ample budgets seeking a premium healthcare experience: the Zhenai Wuyou Special Edition is the top choice. Most mid-to-high-end hospital medical insurance products on the market do not guarantee renewal. This product covers medical expenses at public hospitals (standard/special/VIP/international departments) and designated private hospitals, offers a 6-year renewal guarantee, and allows a flexible deductible of 0–20,000 yuan at a reasonable price. By purchasing a suitable plan, spending a few hundred yuan annually can essentially resolve the issue of unaffordable medical care. 5. Final Notes The terms of million-yuan medical insurance are arguably the most detailed and complex among all insurance products, covering not only hospitalization but also certain outpatient services… While many products may appear similar, a closer examination reveals critical details that could lead to pitfalls if overlooked. Choosing the wrong million-yuan medical insurance may not result in significant financial loss, but the real issue arises when it fails to provide coverage when most needed. Dealing with insurers while seriously ill can delay treatment and cause immense frustration. Having handled numerous claims over the years, I deeply understand these challenges. This drives my relentless efforts in and evaluations, genuinely hoping to help others avoid pitfalls and secure fair claims. However, medical insurance is an extremely complex product. Understanding its terms is no easy task, and individual age and health conditions further complicate product selection.
