Incremental whole life insurance, everyone abbreviates it as increased life.
What is the use?
Today, I will tell you about it.
Because the responsibilities and terms of insurance products are obscure, buying insurance is not as simple as buying a refrigerator or TV, and people do not know much about the functions and features of an insurance product.
So try to use the vernacular as much as possible, so that everyone can understand and understand.
Although the writing and presentation skills are average, it does not affect the help of people to understand insurance and more related information.
Demonstrate the benefits of a product directlyto illustrate (35-year-old male, pay 100,000 yuan per year, pay for 5 years).
Compared with critical illness and medical insurance, it is much easier to increase the amount of life.
Many articles on the Internet write that it is covered by clouds and mountains, but it is not complicated at all.
To put it simply.
According to your own and your family's situation, take out a part of the funds, choose to pay them over to the insurance company for a few years, and the insurance company will help you take care of it and promise a certain income.
Let's look for the characteristics of increasing longevity through the above ** demonstration.
1.About the safety of the insurance company.
The previous article "Evergrande Life 100, will my order be affected" has a detailed introduction, you can refer to it.
Let's elaborate on Article 92 of the Insurance Law
Explanation: Even if the insurance company (domestic) goes bankrupt, the rights and interests of the life insurance policy will not be affected.
2.And let's talk about the presentation of the benefits in the chartIt is what is written in the contract.
Next, let's look at the cash value columnCash valueIt is how much the policy is worth for different policy years.
As shown in the picture: In the 25th policy year, when the customer turns 60, the value of this policy is 927,740.
It can be understood that the insurance is surrendered at this time, and all the money can be refunded.
You'll find that the longer you put it, the more money you'll have.
That's what it earns off.
When buying longevity products, the most concerned thing isYieldLet's do it!
Different products, the rate of return will be different, if they are all increased life products, then the difference will not be too much.
Let's not compare specific products today, we have to look at the general functional characteristics first.
Internal rate of return abbreviation: IRR(last column).
The internal rate of return can be simply understood as:
When the invested funds are withdrawn in a certain yearActual benefits.
When looking at the yield of a financial product, you don't need to listen to the salesperson's fanciful description, just ask him to calculate the IRR for you.
The underlined year IRR in the figure is 272%
The highest is 290%
Explain that the increase in life expectancy isNon-high-yield products with certain value preservation and appreciation functions.
3.Looking at the previous five years, the cash value of premiums paid.
DescriptionThere is a loss in the early surrender of the policy.
Looking further back, the higher the IRR, the higher the later it is, which means that the later the return is greater than the previous one.
4.Look at the death total disability insurance benefit, which means that the money is lost.
At the beginning of the first year, a total of 100,000 yuan was paid, and the loss was 160,000 yuan, and the risk protection = 16-10 = 60,000 yuan.
In the fifth year, a total of 500,000 yuan was paid, and the cash value has exceeded 510,000, which means that with the increasing age and increasing cash value, the proportion of risk protection is getting smaller and smaller, and at the age of 50, the cash value is basically equal to the amount insured, and the insurance company actually does not bear the risk.
Increase longevityLow risk protection leverage.
5.Funding flexibility.
Look at a clause:
Reduced insurance isReduce the amount insured.
You can understand it like this:
The cash value is like an account of yoursReducing the policy is like taking a part out of it.
Generally, you can withdraw it after 5 years, and different products have different restrictions on policy reduction, up to 20% of the cash value can be withdrawn in one year, and 20% of the premium can be withdrawn if you are less, and even the amount is decreasing year by year.
There is no good or bad, the key is to look at what the account is used for ().According to different insurance reduction rules, it is suitable to do different things, and next time I will introduce several different insurance reduction rules).
In addition, the policy can be loaned, and the general loan amount is 70% of the cash value of the current year (70% to 80%).
6.Specify beneficiaries and changes.
Although Incremental Life is a bit less like a life insurance, it is indeed a life insurance.
So,Specify beneficiaries and changes. is its basic skill.
These are the main functional features of the increase in longevity.
The security of funds is high, the income is written into the contract, and it has a certain function of capital preservation and appreciation
It can resist the risk of reinvestment due to the continuous decline in interest rates.
For example, after taking out a fixed deposit, if you want to save it for a few more years, the interest has dropped to more than 2.00 points, which is actually the actual situation in the past few years.
Non-high-yield products.
Not suitable:
Pursue a higher rate of return.
Guaranteed low leverage
Non-guaranteed products.
Not suitable:
Accident or illness and other risk protection needs.
There is a loss in the early surrender of the policy.
The surrender loss is large within five years, and the yield is low in the first ten years.
Not suitable:
Plan the funds to be used in 10 years.
The use of funds in the later stage is more flexible
Ditto. Beneficiaries and changes can be designated
The beneficiary receives the moneyInsurance money,
It has the following legal characteristics:
Directed inheritance is free of controversy].
Anti-marriage change property].
Debt Segregated Property].
For tax planning].
You can refer to the previous article.
The Marriage of Life and Death for Two People - Whole Life Insurance (Part 2 of Law and Commerce)".
To summarize according to the functional characteristics:
Increasing life is suitable for planning a goal after 10 15 years with a sum of money that is not prepared to be used in the next 10 years, which will not bring high returns and risk protection, but has security and certainty.
Things to plan for: pensions, compulsory savings, education funds, wedding payments, inheritance of wealth.
I am the old man, the father of two babies.
There is an innate dullness to the world and human feelings.
I wish I was a dear daddy in the hearts of two babies.
I am an insurance broker in Zhengzhou Mingya.
I hope that I am trusted by my friends and a professional veteran. ️
If you have any insurance needs or questions, please feel free to consult us**.
Insurance has always been controversial, and many people are extremely distrustful of insurance, especially those who sell insurance, some are influenced by others, and some are experienced by themselves.
In fact, a large part of the reason is that insurance is not easy to understand, which I deeply understand, because as a full-time insurance broker, it is very energy-consuming to read the terms of the insurance contract frequently. Just imagine, how can you easily understand and understand without special study and repeated practice.
On the one hand, I hope that by posting articles on *** and linking to partners with the same frequency as me, I can recognize me and trust me.
On the other hand, by reading my articles, you will definitely be able to learn more about insurance, because my attitude is neutral, so the articles are less personal, which is conducive to your judgment of insurance.
On the other hand, writing here, for me, who is not very good at expressing myself, is a deliberate review and practice of learning and growth.