Core Insights - The rise of short-term critical illness insurance products is being driven by their affordability and flexibility, appealing to consumers with limited budgets who seek immediate coverage [1][4][5] Summary by Sections Product Features - Short-term critical illness insurance typically offers coverage for one year, with premiums around 100 yuan, making it an attractive option for budget-conscious consumers [1] - Coverage amounts can be selected based on individual needs, with options for 200,000, 500,000, or 1,000,000 yuan [1] - Many products have a flexible age limit, covering individuals up to 70 years old [1] Consumer Feedback - Consumers like Mr. Wu and Mr. Deng have expressed satisfaction with short-term critical illness insurance, highlighting its affordability and the ability to provide financial support for unexpected medical expenses [2] - Mr. Deng noted that the option for monthly premium payments helps alleviate financial pressure when insuring multiple family members [2] Market Trends - The popularity of short-term critical illness insurance is partly due to the rising costs of traditional health insurance products, which have seen average premiums increase to 300-600 yuan [4] - Insurance companies are strategically introducing low-cost short-term products to fill the gap in the market for middle and lower-income consumers [4] Limitations - Short-term critical illness insurance lacks guaranteed renewability, requiring consumers to reapply each year, which poses a risk of being denied coverage as they age [3][4] - The payout structure differs significantly from traditional long-term insurance, with lower maximum claims and potential out-of-pocket expenses for policyholders [3] Target Demographics - Short-term critical illness insurance is particularly suited for two groups: young graduates seeking temporary coverage and individuals already holding long-term insurance looking for additional short-term protection [5]