Usually people are confused which one is more important or treat the two types of medical insurance as the same thing. But in fact, these two types of medical insurance cover and provide different compensation!

First of all, regarding products for hospitalization and surgical coverage, the primary condition for claims is met mainly when the insured person is hospitalized.
If the insured is admitted to a private hospital designated by the insurance company, the insurance company usually pays the eligible expenses directly to the hospital and does not pass through the insured’s hands.

Assuming you have more than one hospitalization and surgical benefit policy, you cannot make a second claim for the same single hospitalization and surgical expense

Severe illness insurance is the same as the basic life insurance coverage (death and permanent disability benefits).

Assuming you have ten policies, when you are proven to have one of the 36 critical illnesses in the policy benefits, you can claim for each policy, and the amount of money received in the claim is based on the amount of coverage and other benefits in the individual policy, and is paid out in cash, not just the expenses incurred during the hospitalization or critical illness.
This money can be used to pay off debts, reduce financial burdens and maintain better quality of care.

Insurance products for serious illness, therefore, are those that provide extra cash in the event of illness or replace reduced income, or lost income, due to being unable to work after illness.

The function of hospitalization and surgical insurance products is to ensure that eligible expenses during hospitalization are covered by insurance, ensuring the ability to obtain reasonable medical care and avoiding the use of hard-earned savings.

In terms of importance, people are encouraged to have at least a basic medical card to protect their life savings in the event of an illness!
However, there are specific terms and conditions for each type of medical insurance, so remember to check them out when you buy them!

A “single medical card” is simply a way of relieving the burden of medical expenses, as the premiums are not high, so a one-time payment is usually required.

The “Investment Medical Card” is a package that includes life, medical coverage and savings investment or 188 illnesses.

The cost of the medical card will continue to increase as you age, so if you take out an “investment medical card”, the savings in it will be used to prepare for the future, while a “single medical card” may be forced to discontinue coverage when you retire because the premiums are too expensive to pay.

Some of you may be wondering if you have just mentioned that the “Investment Medical Card” has coverage for 36 diseases, does that mean that if you take out the “Single Medical Card” you will have to pay for your own medical expenses if you unfortunately suffer from 36 diseases? Absolutely not!

The insurance company will still pay for the medical expenses of the 36 diseases if you have a Single Medical Card. The so-called 36 diseases protection of the “Investment Medical Card” is similar to the life insurance, if you are diagnosed with 36 diseases, the insurance company will compensate a sum of money to the insured person.

We often see a lot of complaints on Facebook about insurance companies cheating people, buying medical cards and having to pay for the medical bills themselves in the end.

If you look deeper, you will find that insurance companies generally follow the procedures set out. However, why do some people who are seriously ill have to pay for their own medical bills even though they bought a medical card? This depends on when the insured person took out the medical card.

Generally, there is a waiting period of 30-120 days for a medical card. If the card is newly insured and the waiting period has not yet expired, the insurance company has a reason not to pay for it because the condition probably existed before the insured was insured.

If the waiting period has passed, but the card is not yet two to three years old, the insured may be required to pay for the medical expenses if he/she is seriously ill and then reimburse the insured after the insurance company has investigated the case, because the insurance company has the right to doubt the health condition of the insured before the insurance. Therefore, the earlier you take out a medical card, the more you can avoid similar incidents.

If you have been admitted to a private or public hospital before enrolling in a medical card, you must declare it to avoid being suspected by the insurance company of hiding it.

If you have high blood pressure or high cholesterol, as long as it is not very serious, the insurance company will still accept the insurance, but the premium will be more expensive than the average person, and the application procedure is more complicated, you may need to go to the designated clinic to do a medical examination or blood test.

Some people say that it is okay to hide it from the insurance company? This is not recommended. Because if you successfully enroll in a medical card, but are denied when facing a claim, it becomes meaningless to enroll in a medical card, because after all, enrolling in a medical card is the fear of having to pay expensive medical bills.