What is life insurance? What is Life Insurance

Life insurance is a kind of life insurance, which takes the life of the insured as the subject of insurance and the life or death of the insured as the condition of payment. As with all insurance businesses, the insured passes the risk to the insurer, accepts the insurer's terms and pays the premium. Unlike other insurances, life insurance passes on the risk of survival or death of the insured.

On December 1, 2017, the "Standards for English Translation and Writing in the Field of Public Services" was officially implemented, stipulating that the English name of life insurance standard is lifeinsurance.

Life insurance is based on the person itself as the subject of insurance, to put it bluntly, it is the protection of the person, including accidents, disability, serious illness, pension, all the risks of people can be transferred to the insurance company through life insurance, to minimize their losses.

Insurance is, to be honest, to cheat the poor out of their money. Quite a welfare lottery about the same.

To put it bluntly, it is to protect against death and total disability, and to buy life insurance is to continue the family's financial ability. Professional explanation: life insurance, that is, life insurance, is a kind of insurance that takes the life and death of a person as the insurance object, and is a kind of insurance in which the insured lives or dies during the insurance liability period, and the insurer pays the insurance money according to the provisions of the contract.

In life insurance, the two most common types are term life insurance and whole life insurance. Life insurance is mostly based on the death of the insured, so life insurance is bought for the family in order to leave a sum of money to the family after the death of the insured, and provide financial security for the subsequent life of the family on behalf of the insured.

Life insurance is the most original, basic and authentic of all insurance, and its protection liability is very simple, that is, the death benefit insured. "Standing is a money printing machine, lying down is RMB" sentence clarifies the meaning of life insurance, life insurance is "altruistic" insurance, mainly used to ensure that your loved ones have sufficient funds to live a good life after their death.

Life insurance is based on the life of the insured as the subject of insurance, and the life or death of the insured is the condition of payment, when the life of the insured has an insured accident, the insurer pays the insurance money. Originally, life insurance was intended to protect against the financial burden that may be caused by the death of an unavoidable person, but later, a savings element was introduced into life insurance, so the insurance company would also pay the agreed insurance benefits to those who are still alive at the end of the insurance period.

Common types of life insurance are:

Term life: The protection liability is for a period of time such as 20 years, 30 years, to the age of 60, to the age of 70, and the insured can only get compensation for the sum insured if he dies during this period; During this period, the insured survives without any compensation, and the premiums paid before will not be refunded. Term life insurance is one of the must-have insurance policies for middle-aged people with the heaviest burden of life due to its low premium and high sum insured.

Whole life insurance: Liability is for life, and the beneficiary receives a death benefit whenever the insured dies. Because death is an inevitable occurrence, the insurance premium should be higher, and whole life insurance also has the function of saving, which can realize the inheritance of wealth.

Life and death insurance: It is a combination of term life insurance and survival insurance. It refers to a life insurance in which the insured dies within the time agreed in the insurance contract, the beneficiary receives the death insurance, and the insured continues to survive after the expiration of the insurance period, and the policyholder receives the agreed maturity payment.

Endowment insurance: endowment insurance is a combination of survival insurance and death insurance, which is a special form of life and death insurance, which means that the insured can receive insurance money regardless of survival or death within the agreed period of time, and beyond the agreed time period, the insured can still receive endowment insurance for survival, which can ensure cash flow equal to life, which can relieve the economic pressure of pension and make the insured feel at ease.