What is Dual Insurance? What does it mean to have both insurance

Endowment insurance is a type of life insurance, which is a combination of term life insurance and survival insurance, which can protect both life and death.

In other words, if you die within the agreed insurance period, you can get the insurance money; If you are still alive at the end of the agreed insurance period, you can also receive the insurance benefits. If you still don't know about both insurance, you can take a look at this article:Is the Dual Protection reliable?

What is the difference between whole life insurance and life-saving insurance?

Mr. H was financially prosperous when he was young, but it was difficult to say what would happen in the future, so he purchased a comprehensive insurance policy at the age of 35, covering 30 years with an insurance amount of 1 million.

If Mr. H dies before the age of 65, his family can receive the insurance payment of 1 million yuan from the insurance company to continue to support themselves.

If H lives until the age of 65, then the insurance company also needs to pay 1 million insurance benefits, so that Lao Chen's retirement life has financial security.

Insurance, also known as life and death insurance, refers to life insurance in which the insurer shall bear the responsibility of paying insurance money in accordance with the insurance contract when the insured dies within the insurance period agreed in the insurance contract, or survives after the expiration of the insurance period.

Types of insurance business:

1. Ordinary insurance: The insurer pays the insurance money regardless of whether the insured dies during the insurance period or survives until the expiration of the insurance period.

2. Double insurance: If the insured survives at the expiration of the insurance period, the insurer will pay double the insurance money, and if the insured dies during the insurance period, the insurer will pay twice the insurance money.

3. Pension additional term insurance: if the insured survives at the expiration of the insurance period, the insurer pays double the insurance amount, and if the insured dies during the insurance period, the insurer pays the insurance money according to several times the survival insurance money.

4. Joint insurance: If two or more people jointly insure the insurance, during the insurance period, when any one of the joint insureds dies, the insurer will pay all the insurance money and the insurance will be terminated; If none of the joint insured dies during the insurance period, the insurer will also pay the insurance money at the end of the insurance period, and the insurance money will be jointly received by all the insureds.

The full name of both insurance is life and death insurance, also known as return insurance. If you still don't understand the difference between various types of insurance, see here to understand clearly: "What is the difference between consumption, savings, and return insurance?"

Which is the best deal? 》

Both insurances have a death benefit for the agreed period, and if the insured is still alive after the expiration of the term, then the survival insurance benefit can be obtained. However, this kind of insurance is generally not sold separately, but is sold in the form of combination insurance, and the common form is generally comprehensive insurance + life insurance (one of them).

Do you often hear the saying "if there is a problem, you will lose money, and if you are safe, you will refund the premium when it expires"? This statement makes people feel that the benefits are all ours, but how can there be such a good thing in this world?

There are actually several fatal drawbacks to both insurances:

1.Once the insurance is insured, it cannot be cashed back

The premium of both insurance will be higher than that of general insurance, and if we buy a combination of insurance such as insurance + life insurance, we should have obtained two protections, but it seems that there are two protections, but in fact, the two protections can only choose one of the two, that is to say, once the insurance is out, the contract of the two insurances will be terminated. The money we had in order to be able to get it back was just gone.

2.Low sum insured

Although the premium of the insurance is high, the sum insured is very low, which is in contrast to its high premium. The sum insured of our insurance is much lower than that of pure protection insurance products. If we have a serious illness during the period, then the sum insured will be more than 100,000 or 200,000 yuan, which is not enough for ** expenses, not to mention the odd and bits of our living expenses during the illness.

Endowment insurance is a type of insurance, also known as life and death insurance, which refers to life insurance in which the insurer shall bear the responsibility of paying insurance money in accordance with the insurance contract when the insured dies within the insurance period agreed in the insurance contract, or survives after the expiration of the insurance period.

1. Differences. When the insured dies during the insurance period, the insurer pays the death insurance benefit to the beneficiary according to the contract, and the insurance contract is terminated; If the insured survives until the expiration of the insurance period, the insurer pays the survival insurance benefit to the insured.

Any insurance policy with a maturity date is stated and the insurer shall pay the insured the amount of insurance agreed in the insurance policy to the insured if the insured is still alive by the maturity date. The maturity date of the insurance can be either a specific age or the end date of an agreed period. This type is attractive to those who want to be covered for the duration of the insurance policy and to earn a decent income to retire in old age.

Regardless of the type of endowment insurance, the insured survives until the maturity date or dies before the expiration date, the endowment insurance policy will pay the agreed amount.

Second, the advantages of introduction.

Both insurance is "saving" and "payout", and if something happens, you will receive compensation, and if you don't have an accident, you will repay the principal when it expires.

In the process of purchasing insurance, we often see the words "both" in the name of some insurance products. So, what exactly is both-sum insurance? Compared with other types of insurance, what are the advantages of both insurance?

It all starts with the classification of life insurance. Life insurance is divided into a broad and narrow sense, and life insurance in a broad sense refers to the sum of all life insurance as opposed to property insurance; Life insurance in the narrow sense is insurance that takes human life as the insurance object, also known as "life insurance". After purchasing "life insurance", consumers pay insurance benefits when the insured dies or survives to a certain age during the insurance period.

"Life insurance" can be divided into three types: death insurance, survival insurance and life and death insurance.

Among them, both insurance is also known as life and death insurance, which is death insurance plus survival insurance. If the insured dies during the insurance period, the beneficiary receives the death benefit; If the insurance expires and the insured person is still alive, the survival insurance benefit is paid.

Coverage for both. It is an insurance that has both protection and savings functions, and is also known as "life and death insurance."

When the insured dies during the insurance period, the insurance company will pay the death benefit to the beneficiary of the policy as agreed in the contract, and the insurance contract will be terminated. If the insured survives to the expiration of the insurance period, the insurance company will also pay a lump sum survival insurance benefit according to the agreement, in most cases, the agreed proportion of the premium paid, and a few products can pay the basic sum insured. The protection function of both insurance is average, and the savings function is more prominent.

Generally, it is recommended that individuals first equip protection insurance, and if the coverage amount is sufficient, they can be equipped with both insurance according to their own savings needs.

Extended information: Insurance refers to commercial insurance in which the policyholder pays insurance premiums to the insurer according to the contract, and the insurer bears the responsibility of compensating for the property losses caused by the occurrence of accidents that may occur as agreed in the contract, or the insured bears the responsibility of paying insurance money when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract.

Behavior. 1. From an economic point of view, insurance is a financial arrangement for apportioning the loss of accidents; From a legal point of view, insurance is a contractual act, a contractual arrangement in which one party agrees to compensate the other for its losses.

2. From a social point of view, insurance is an important part of the social and economic security system, and it is a "delicate stabilizer" of social production and social life.

3. From risk management.

From perspective, insurance is a method of risk management.

Commercial insurance can be roughly divided into: property insurance, life insurance.

Liability insurance, credit insurance, allowance insurance, marine insurance. The large categories are classified according to the scope of insurance coverage, and the small categories are classified according to the type of insurance subject. According to the insurance coverage, it is divided into:

Life Insurance, Property Insurance, Liability Insurance, Credit Guarantee Insurance. The subject of insurance is the subject of the insurance contract, which only includes the policyholder and the insurer.

The insured, the beneficiary, and the policy owner are not insurance subjects unless they are the same person as the policyholder. The policyholder refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay insurance premiums in accordance with the insurance contract. The policyholder can be a natural person or a legal person, but must have civil capacity.

Insurer, also known as "insurer", refers to an insurance company that enters into an insurance contract with the policyholder and bears the responsibility of compensation or payment of insurance money. In China, there are joint-stock companies and wholly state-owned companies.

Two forms. The insurer is a legal person, and an individual citizen cannot act as an insurer.

The insured person refers to the insured person who, according to the insurance contract, is protected by the insurance contract and has the right to claim insurance money after the occurrence of the insured event.

of people. The policyholder is often the insured at the same time. The beneficiary refers to the person designated by the insured or the policyholder in the life insurance contract to have the right to claim insurance money, and the policyholder and the insured can be the beneficiary.

If the policyholder or insured person does not designate a beneficiary, his legal heirs are the beneficiaries. The owner of the policy, with the insurance interest.

The person who owns the policy, in many cases, is the policyholder, the beneficiary, and can also be the transferee of the policy.

Both insurance, also known as life and death insurance, has the role of both life insurance and survival insurance, if the insured dies within the agreed period, the death insurance will be paid; If the insured person is still alive after the expiration of the term, then the survival benefit will be paid. Part of the two-stool clearance insurance also comes with an additional life payment, and an additional amount will be given to those who still survive to the agreed age.

Generally speaking, insurance companies will not sell both insurance separately, and the insurance on the market is basically linked to life insurance, and the common one is comprehensive insurance + life insurance (critical illness life insurance, accident insurance, cancer prevention insurance, etc.), and the insurance mainly has the following functions:

1. The role of savings.

We have a comprehensive insurance plan that allows you to be both covered and save in small amounts. The insured pays the premium on time in accordance with the policy, and if the insured dies during the insurance period, the insurance company will pay the insurance money to the beneficiary according to the agreed insurance amount; If the insured is still alive at the end of the contract, the insured will receive a lump sum premium.

Annuity insurance also has a savings effect, so what is the difference between it and endowment insurance? Here's what the experts have to say:What is the difference between endowment insurance and annuity insurance? A detailed explanation!

2. Guarantee role.

The coverage of both insurance is relatively easy to understand, and it mainly provides protection against the risk of death during the period of protection.

Hope.

Both insurance, also known as life and death insurance, refers to the life insurance company in which the insured dies within the insurance period agreed in the insurance contract, and the insurer shall bear the responsibility of paying the insurance money in accordance with the insurance contract when the insured dies within the insurance period agreed in the insurance contract.

Hello. Questions.

What is both.

The stamp duty of property insurance contracts includes property, responsibility, guarantee, credit and other insurance contracts, and the stamp duty of property insurance contracts is one-thousandth of the insurance premium.

The only child insurance means that the insured object is an only child, and the insurance is both life and death, that is, the survival benefit of the living policy can be received, and the life insurance benefit of the death is paid; Normally, this type of insurance also enjoys policy dividends, but there are also specific insurance benefits, which need to refer to the terms of the specific insurance contract. The only child insurance is an insurance that provides multi-faceted economic security for the only child and has the dual role of insurance and savings, and provides both the survival and death benefits of the only child. The insurance money obtained by the only child at the end of the survival period can be converted into the pension insurance of the pure parents, and the parents can receive a monthly pension until their death when the parents reach the age of 55 or 60.

All healthy only children from birth to 14 years old and non-only children who are allowed to have two children can be insured by the unit of their parents and caregivers. Regardless of age, each insurance premium is paid per month, and one can be insured for multiple copies. The insurance period is:

At that time, the actual age of the policy starts from the age of 14, and the amount of insurance is determined separately according to the number of years. After participating in the one-child insurance, it provides financial security for the healthy growth of the children. During the insurance period, if the insured dies or is disabled due to accident or illness, the insurer will pay all or part of the insurance money according to the regulations.

Conditions for receiving insurance for both children (1) The insured can receive the full amount of insurance benefits at the end of his or her existence; (2) During the insurance period, if the insured dies due to illness or accident, the head of the family can receive the full amount of the insurance money; (3) During the insurance period, if the insured is disabled due to an accident, the insurer may pay all or part of the insurance benefits according to the degree of disability according to the relevant certificates; (4) After the insured receives the full or half insurance premium due to disability, the insurance continues to be valid and the unexpired insurance premium is fully or partially exempted from the next month, and if the death or survival is not caused by the same cause in the future, the full amount of the insurance premium can also be received (5) All the insurance money obtained at the expiration of the period can be converted into the pension of the parents, and when the parents reach the age of 55 or 60, they can receive the pension according to the regulations from the next month until they are for life. If the parents enjoy old-age security, they can also use the expiration insurance money for another purpose, such as for children's education or marriage**.

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