Who is whole life insurance suitable for, and who is whole life insurance suitable for?

Whole life insurance is suitable for high-income families with investment needs. Whole life insurance is to protect the life of the insured, if unfortunately total disability or death, you can get a compensation, which can solve a series of problems such as children's education, family wealth inheritance, pension and so on.

Whole life insurance can be subdivided into fixed whole life insurance and incremental whole life insurance.

Let me briefly explain to you the fixed amount whole life insurance, in fact, how much insurance will be paid to you when you go out of insurance, and the sum insured will not change in any way.

Incremental whole life insurance is different in that the sum assured increases over time, and the longer you live, the more the sum assured will grow.

The reason for this is that the incremental whole life insurance policy will compound the sum assured at a predetermined interest rate every year.

Therefore, we can say that increased whole life insurance is also a kind of financial insurance, and some people will use increased whole life insurance to manage investment, usually for retirement or education fund reserves.

Therefore, whole life insurance with financial value is suitable for middle-class families. It can solve a series of problems such as children's education, family wealth inheritance, pension and so on. It is more appropriate for families with limited insurance budgets to buy term life insurance, and the details will not be said, but the following can satisfy everyone's curiosity:

Term or Lifetime Life Insurance? Life insurance is enough to read this article! 》

Finally, I will plant another increased whole life insurance product for everyone: Guardian Saint increased whole life insurance. The policy contract not only supports the reduction of the insured amount year by year, the insurance company has no restrictions on the amount, number and time, and the cash value of the policy is also relatively high, and the actual rate of return of IRR can reach more than 50 years old, and the income is also very good.

If you want a policy loan, you can borrow up to 80% of the cash value. Because the length of the article is limited, please see the following article for details:"An article on the cost-effectiveness of patron saint whole life insurance".

[Written at the end].

I am [Xueba Says Insurance], focusing on objective, professional and neutral insurance evaluation;

I will give you the most professional advice with years of experience in configuring insurance for 10w+ families.

Whole life insurance is suitable for high-net-worth families to purchase, as well as people with sufficient funds and needs for retirement, children's education, financial management, etc.

Whole life insurance, in short, is a life insurance product that can protect the entire life cycle of the insured, and can also be divided into fixed whole life insurance and increased whole life insurance according to the change in the sum insured.

If you have friends who are more interested in whole life insurance, the senior sister has also compiled a list of high-yield increased whole life insurance for you, you can take a look at the products in this: freshly baked! Don't miss out on the top 5 high-yield incremental whole life insurance!

1. High-net-worth individuals with stable income.

Due to the long duration of whole life insurance, the insurance rate of this type of insurance is usually relatively high, and for wage earners, the pressure to pay will be greater, and it may be more cost-effective for them to buy term life insurance. High-net-worth individuals who need lifelong protection and a stable income can consider purchasing whole life insurance.

2. People who have long-term savings and loan needs.

On the surface, we have bought whole life insurance, but in fact, it is equivalent to saving money in the insurance company, and the amount of insurance is still growing, so as to achieve the purpose of saving money and saving money.

In addition, whole life insurance usually comes with the benefit of a policy loan, which we can use to achieve cash flow.

3. People who need to inherit their legacy.

People who need to inherit assets can buy whole life insurance, because the insured amount paid by whole life insurance is distributed to the beneficiary according to the wishes of the policyholder, and cannot be forced to pay off debts, is protected by law, and is generally regarded as an inheritance, so buying whole life insurance can be regarded as estate planning.

Whole life insurance refers to indefinite death insurance. After the conclusion of the insurance contract, the insurer shall pay the insurance benefit whenever the insured dies. As long as the insured pays the premium on time, the insurer has no right to refuse to renew the policy.

According to the different ways of paying premiums, there are three types of life insurance: whole life insurance with lifetime payment, whole life insurance with regular payment, and whole life insurance with one-time payment. Whole life insurance can solve the pension problem by surrendering part of the cash value during the life of the insured.

The so-called whole life insurance, with the death of the person as the trigger condition, once the insured dies, the insurance company will pay compensation, if the insured is alive, unless the value of the cash is received by means such as surrender, or otherwise agreed in the contract, the money will not be obtained.

Therefore, it can be seen from the design of this product that the insurance is not for the insured to enjoy, and the money paid by the insurance is reserved for the beneficiary. It is a completely altruistic product.

Because people can't live forever, this insurance contract is bound to be compensated by the insurance company, and the only variable is when to compensate the tremor, so from the point of view, it will not be cheap.

Therefore, this product is more suitable for people with stable income, more assets, and hope for stable returns but do not want to take on high risks. As for many people saying that insurance can avoid taxes, there is no plan for collecting inheritance tax at present, so this function is still confirmed. It is recommended that low- and moderate-income earners with a limited budget still prioritize term life insurance.

Compared with term life insurance, the biggest feature of whole life insurance is that it has a long protection period, which "can be guaranteed for a lifetime". As long as the contract remains valid, the beneficiary of the whole life insurance policy will receive the insurance benefits. But in the actual buying process, many people will fall into the mistake of purchasing.

Who is whole life insurance suitable for? The main ones are as follows:

1.People who can afford higher premiums.

Whole life insurance has a long payment period and is suitable for people with a fixed income and a higher income. For example, the breadwinner of the family, in addition to term life insurance, can also be purchased with whole life insurance, accident insurance and other insurance to achieve true comprehensiveness.

2.People who have the purpose of saving and protection.

Although whole life insurance does not receive the benefits until the death of the insured, its savings can generate cash value. At present, there are many additional dividend functions of whole life insurance, which can be used as a variety of savings and protection. If you need money after death, you can also take a mortgage or surrender the policy to get back some of the funds.

3.People with estate planning needs.

Whole life insurance is a type of insurance that is ideal for estate planning. This is because it needs to be paid after the death of the insured, and the payment of the insurance benefit can not only be distributed in full accordance with the wishes of the policyholder, but also protected by law and exempt from inheritance tax.

People who want to leave their inheritance to the next generation can transfer assets and avoid taxes by purchasing whole life insurance, and for some private business owners, insurance is also a way to avoid debt. In addition, the purchase of participating whole life insurance can also achieve the purpose of financial management. Under normal circumstances, the value-added function of insurance is weak, and the most important determinant of insurance value-added is time, not the rate of return.

Lifetime participating insurance can make the most of the factor of time and obtain the magical effect of increasing insurance compound interest.

All things considered! The features and functions of whole life insurance, and how to find their respective suitable people.

1. Term life insurance has high leverage 2. Whole life insurance is guaranteed for life, and claims can be settled! 3. The advantage is that if something goes wrong, you can leave a sum of money for the family to solve the economic situation!

Whole life insurance is the purest product in life insurance, the whole life insurance protection content is relatively simple, as long as the insured dies or is completely disabled within the protection period, the insurance company will pay the insurance money in accordance with the insurance contract, generally speaking, it is to pay all the sum insured, the protection period of whole life insurance is lifelong, that is to say, you can always enjoy the protection of the spring barrier, and you will be able to get compensation for the sake of the insured, usually whole life insurance is divided into fixed whole life insurance and increased whole life insurance.

Whole life insurance is suitable for people: If the economy is relatively relaxed, and there are protection and financial needs, buying whole life insurance is a good choice, whole life insurance can fully meet the life protection, wealth appreciation and wealth inheritance needs of the policyholder.