Recently, a friend asked us, "Is it better to buy life insurance for a fixed term or for life?"”
This is also a question that many friends will have. In fact, the function of maintaining a fixed term and a lifetime guarantee is completely different, and buying the right one can not only transfer the risk, but also help us accumulate a considerable amount of wealth.
Let's talk about life insurance and evaluate what products are worth buying on the market.
The payout requirements of life insurance are very simple, death or total disability, and a sum of money can be paid as agreed.
Although term life insurance and whole life insurance are both life insurance, they each have their own characteristics and can perform different functions:
Term Life Insurance:It is a consumer-based insurance, which is cheap, has high protection leverage, and can buy millions of insurance for hundreds of yuan, which can transfer the economic risk caused by early death.
Whole Life Insurance:It is a savings insurance, which can be insured for a lifetime, 100% can get money, ** is more expensive, and has the function of financial management and wealth inheritance.
How do you choose between these two types of insurance?Let's take a look at each of them.
1. Term life insurance - keep love without debt
Chinese have always been taboo to talk about death, but life is impermanent, we can't predict when diseases and accidents will come, if you leave too early, what will happen to parents and children?What about a mortgage and a car loan?
If the person is gone, term life insurance can pay hundreds of thousands or millions of dollars at one time, so that the family can have money to continue living.
So who exactly needs to configure term life insurance?We recommend the following 2 types of friends to focus on:
Breadwinner of the family:To earn money to support their families, some have mortgages and car loans, and if they die suddenly, the relatives left behind may not be able to raise their children and repay the loan.
An only child who has reached adulthood:What parents are most afraid of is that white-haired people send black-haired people, especially the elderly who have lost their independence, not only have to bear the grief of losing their children, but also may face the dilemma of having no money to support their old age.
It is recommended that when you configure this type of product, the insurance amount should cover the living expenses of the family for 5 to 10 years as much as possible, and if you have a mortgage or car loan, you should also consider it.
The ** of term life insurance is not expensive, like the flagship version of Damai A, a version of a 30-year-old woman who buys insurance for 20 years, and the insurance amount of 1 million is only more than 300 yuan. If you're not sure how to buy it, you canClick the card belowConsultation.
2. Whole life insurance - the first choice for steady value-added
Among whole life insurance, the most popular is increased whole life, which is special in that the cash value of the policy can continue to increase with compound interest over time.
Let's take a 30-year-old woman who pays 50,000 yuan a year and pays more than 5 for 10 years as an example to demonstrate the change in the cash value of the increased life
By the age of 50, the cash value of the policy can grow to 780,000, and by the age of 60, it can grow to 1.04 million, and then it will continue to grow like a snowball.
We can think of Zengshou as a capital account, after the money is invested, the cash value in it will continue to increase over time, and the long-term rate of return is close to compound interest of 3%. When you want to use the money, you can take out the cash value and use it through "insurance reduction".
Compared with other financial management channels, the biggest advantage of increasing whole life is that it is safe and stable, and its income is written in black and white in the contract, which is protected by law, whether it is a recession in the general environment or a decline in interest rates.
This type of product is suitable for friends who have the following needs:
Friends who don't want to take risks and want to add value for a long time:If you don't want to bear the investment loss, and you don't want to put the money only in the bank deposit, Yue Bao to eat interest, you can consider increasing the amount of life, which can lock in a good income.
I want to prepare an education fund for my child and prepare a pension for myself:If you surrender the policy a few years before the increase of whole life, you may lose money, and you can use it to prepare a sum of money for the future, and the funds will be earmarked.
To make a high-risk investment, you need to keep a part of the money to protect the bottom of the friend:Protecting wealth should be placed before creating wealth, and the money to be used in the future can be put into a stable and safe channel, so that even if the investment money is lost, it will not affect your life too much.
There is a need for asset segregation and wealth inheritanceIf you allocate an increase in whole life before marriage and pay the premium, it will be personal property after marriage;If you want to leave money to future generations, you can designate it as a beneficiary of death.
After talking about increasing whole life, let's talk about the lesser-known whole life insurance - fixed whole life.
Fixed-amount whole life is not like increased life, the early death may not be able to pay so much, its insurance amount is fixed, no matter when you die, you can lose a lot of money, the certainty is stronger, suitable for business owners, gold collar and other friends with wealth inheritance needs.
For us ordinary people, if we want to protect our death, it is recommended to consider term life insurance, which can buy millions of insurance for a few hundred yuan, which is more cost-effective. If you want to lock in a good income and increase your value in the long run, you can consider a safe and stable increase in whole life.
Considering that you may not have time to research which products are worth buying, let's review them for you.
After comparing the hot-selling products of major insurance companies, we finally screened out the following 4 products for you, which are cheap and have comprehensive protection:
Let's go straight to the conclusion:
If you value value for money:Both Zhenai 2023 and Jingcai Nianhua (2023 Edition) are worth considering, the former** is lower than similar products, and the latter has a waiting period of only 60 days, and the compensation ratio may increase by 20% if you upload a medical examination report.
If there is an abnormality in the body:You can consider the barley flagship version A, the health requirements are relaxed, and there are also opportunities to buy high blood pressure, diabetes, thyroid cancer, etc.
If it's a small couple,You can also consider Barley Sweet Home 2023, in case the couple unfortunately dies due to the same accident, they can each pay 2 times the sum insured, such as buying 1 million sum insured, they can pay 2 million each.
If you have any questions about the above products and need product explanation, you canClick belowConsultation.
If you want to take care of your spare money by increasing your whole life, you can consider the following 3 products, and the income performance is very good:
Let's go straight to the conclusion:
If you want to invest in 10 or 20 years, you can consider itAdded more than 5, the early income ranks in the first echelon, according to the ** insurance method, the income at the age of 40 can reach 271%, 50 years old up to 287%。
Kangqian No. 5 Ruixiang lifeIt is also worth considering that the current price is growing fast, according to the demonstration of **, the cash value can exceed the premium in the 5th year, and the insurance income of male friends is very high, like a 30-year-old man, choose to pay in 3 years, and the income at the age of 70 can reach 3%.
These 2 products are not very flexible, up to 20% of the premium paid per year, and those who mind can consider Jinyu Mantang 30, there is no limit to the policy reduction, as long as the policy has 500 yuan left at the current price. It's well-known and has a good earnings performance.
Age, gender, and budget are different, and the benefits are different, so if you want to know how high your insurance income is, you canClick belowConsultation.
Many friends think that life insurance is an insurance that can only be paid after death.
In fact, different types of life insurance, the usage is also different, in recent years, the very popular increase of whole life, is a very stable financial management tool, can help us lock in a good income, so that the idle money doubled and increased.
Remind everyone that the current products with good returns, such as Jinyu Mantang 30. The increase in the number 5 may be urgently removed from the shelves and stopped for sale, and friends in need can seize the time to get on the bus.