Core Insights - The belief in critical illness insurance as a necessity for most families is wavering due to changes in medical conditions, social environment, and the insurance market [1] - New single premium for critical illness insurance has seen a continuous decline for five consecutive years since peaking at over 100 billion yuan in 2018 [1][2] Group 1: Declining Premiums - Sales personnel report that critical illness insurance is becoming increasingly difficult to sell, with many consumers noting rising premiums [2] - From 2020 to 2024, the proportion of critical illness insurance premiums within health insurance has decreased from 64% to 43% [2] - The decline in new single premiums is attributed to market saturation in first- and second-tier cities, the rise of affordable insurance products, and increased premium costs affecting product competitiveness [2] Group 2: High Claim Rates - Critical illness insurance has the highest claim amounts among personal insurance products, with significant proportions of total claims [3] - The age group of 41 to 50 years shows the highest claim rates, leading to increased pressure on insurance companies due to rising claim rates and stagnant premium income [3] - The rising detection and cure rates of severe illnesses have led to concerns about long-term losses for insurance companies [3] Group 3: Breaking the Deadlock - Despite challenges, critical illness insurance remains a core product that provides essential coverage that cannot be replaced by reimbursement-based products [4] - The introduction of dividend-based long-term health insurance products is seen as a way to enhance the attractiveness of critical illness insurance [4] - Recommendations include accelerating product innovation, modularizing insurance coverage, and integrating health management with critical illness insurance [4] Group 4: Consumer Education - Strengthening consumer education is deemed essential for helping consumers understand the value of critical illness insurance and expanding market opportunities [5]