Whole life insurance to put it simply; That is, from the effective date of the policy until the benefit is paid on the death of the insured. The term life insurance is from the effective date of the policy to protect the insured to the end of the year when the policy is signed, for example: Chinese Life's Corning Whole Life Critical Illness Insurance is guaranteed for life, while Corning Term Critical Illness Insurance is guaranteed to terminate at the age of 70.
Whole life insurance is a type of insurance that provides lifelong protection and is often considered a long-term, stable way to invest. It is designed to provide comprehensive protection for the life of the insured, and the insurance company pays a certain amount of insurance money to its beneficiaries regardless of when the insured person dies. In order to protect the sudden interruption of the income of the family's economic pillar, and avoid the elderly and children from being affected by the difficulties in life.
There are generally two types of whole life insurance: traditional and investment. Traditional whole life insurance focuses on the insurance coverage itself, with relatively low premiums but relatively fixed insurance amounts. On the other hand, investment-based whole life insurance combines the functions of insurance protection and investment returns, and the premium is higher, but the sum insured will change according to the investment performance.
Whole life insurance has a lifetime coverage period, so the premium will be higher than that of term life insurance. However, since whole life insurance provides long-term stable coverage, it may be a better option for some people who need long-term protection.
In addition to providing life protection, whole life insurance can also be used as a wealth inheritance tool. The insured can pass on his wealth to the next generation or other relatives by designating a beneficiary to ensure the safety and inheritance of family wealth.
In short, it is necessary to consider the overall expenses of the family and the premiums that can be afforded to make an insurance and financial plan that is in line with the actual situation. Whole life insurance is a long-term and stable protection insurance product designed to provide comprehensive life protection and wealth inheritance functions. It can be a better option for people who need long-term protection and wealth planning.
In addition, you can also choose to work in the insurance industry, and your own insurance commission will come back to you, which is equivalent to saving you on premiums, and at the same time, you can also try to analyze the life insurance industry series of courses and learn how to create a team to increase the number of employees.
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