With the gradual improvement of the status of insurance in our lives, life insurance is also known by more and more friends.
However, as a long-term insurance product, the premium of life insurance is actually not cheap.
This also means that buying life insurance will also face certain risks.
So, what should we pay attention to when choosing life insurance products?
The so-called life insurance is based on our life as the subject of insurance, if we die or become completely disabled, then we can pay an agreed amount of insurance.
It should be noted that the money paid by life insurance is not for ourselves, but for our families.
To put it simply, the main role of life insurance is that when a person dies or is completely disabled, the insurance company gives his family a sum of insurance money to help the family survive the economic crisis and maintain a normal life.
This can also be seen as a suitable family member to buy life insurance: the breadwinner.
Because the breadwinner of the family bears the heaviest responsibility, both to support the elderly and raise children, plus housing loans, car loans and normal living expenses, these are not small expenses.
The first thing is to see if the insurance company is reliable.
After all, life insurance is a long-term insurance product, and there are still certain requirements for the operating ability of the insurance company.
Term life insurance is better to say, biased towards protection.
The increased whole life insurance, a product with a strong financial nature, will test the profitability of the insurance company even more.
Therefore, when we buy life insurance products, we also need to look at the popularity and credibility of the insurance company, as well as its market positioning and solvency.
The second thing to look at is the terms of the policy.
The insurance liability, exemption clause, and insurance period written in the contract are all to be seen clearly, and these are the parts that we should pay attention to.
If you don't understand something, you need to consult the insurance company staff. This will effectively avoid disputes when we apply for a claim.
Then there is how well the insurance product protects itself.
For example, the higher the percentage of the sum insured, the more the cash value can accumulate.
The insurance increase and reduction should be flexible, so as to ensure that we can flexibly increase the insurance to get more income when we have spare money, and when we lack funds, we can take out a sum of money for emergency.
Liability and value-added services should also be considered, such as policy loans, retirement communities, etc.
Finally, it depends on our individual circumstances.
Not only the financial situation, but also the physical health.
Consider whether we can afford the premium and also tell us if we have any medical conditions.
In this way, we can be guaranteed to pass the underwriting stage to the greatest extent, or we can get a better and faster claim.
Since life insurance has the advantages of high security and income, many people want to use this long-term product to save money or obtain income.
It's actually doable.
Because life insurance needs to be held for a long time, most people will not buy it for two years and then return it.
In this way, the cash value of the policy can be accumulated over a long period of time, and the insurance benefits will be paid to us after the agreed time of collection.
The total survival benefit we can receive is the accumulated insurance benefits we have received and the remaining cash value of the policy.
In general, the total survival income of life insurance can exceed our accumulated premiums paid in 5-10 years, achieving a similar role as a deposit.
In addition, such products are subject to strict supervision and legal protection by regulatory authorities, so we don't have to worry about not receiving money or invalidating the guarantee in the end.
On the whole, the risks of life insurance exist in the reliability of the insurance company, the terms of the policy, the identity of the policyholder, and the health status of the individual.
The risk can be controlled and avoided by choosing an insurance company, carefully reading the terms of the policy, and truthfully filling in the health status.
Therefore, it is also feasible to buy life insurance, taking into account both protection and income.