How to choose term life insurance?

How to choose term life insurance? Keep these 4 key points in mind.

Hello! When buying life insurance products, you should do what you can and do not affect your family's normal financial expenses due to life insurance. For families with average financial income, it is recommended to take out term life insurance because term life insurance has the advantages of low premiums and full coverage.

Most term life insurance products are available in a range of 10-year, 20-year and 30-year terms, and it is recommended that consumers consider comprehensively according to the current family economic income and the insurance needs of the insured object before applying for insurance, so that the insurance will not affect the normal expenses of the whole family and at the same time can meet the insurance needs of the insured object. In addition, some term life insurance policies will have a waiting period, and consumers need to pay special attention when applying for this type of term life insurance, because the insurance company will not pay out if the insured accident occurs during the waiting period.

Term life insurance means that within the time specified in the insurance contract, if the insured dies or becomes totally disabled in an accident, the insurance company will pay the insurance money according to the insured amount agreed in the contract. Life insurance takes into account the needs of the family, and most people buy life insurance to avoid their own unfortunate accidents, which will greatly affect their families. , and then consider your financial situation, whether your needs match your financial situation.

Even if you think your family needs a lot, you can only buy life insurance that is commensurate with your financial situation. If you don't know how to choose a life insurance product that suits you, you can pay attention to Sister Mao's insurance (GZH).

How to choose term life insurance?

First of all, pay attention to the basic information, such as insurance age, occupational restrictions, health notices, etc., no matter how good the product is, you must meet the conditions.

Secondly, pay attention to the protection responsibility, which is generally death and total disability, and here there is no distinction between illness and accident, only look at the result.

Third, pay attention to the exclusion clause, that is, which are not insured, after all, the purpose of buying insurance is to get a claim in the end.

Finally, pay attention to the premium, the protection responsibility must match the premium, otherwise the premium is higher than the insured amount, then there is no need to buy Li slag.

Do we need term life insurance?

Let's take a look at the following questions:

Term life insurance is not like critical illness insurance, medical insurance, etc., where you are the beneficiary. Term life insurance is an entity that focuses on family liability.

If you don't want to hit your family and their standard of living plummeting because of your departure, then you need term life insurance.

Of course, if you say, "It's good if I can take care of myself, I can't take care of anything else", or if you have too much money to spend, then there is no need to buy it.

How much insurance is appropriate?

Insurance is the same, according to your actual situation, the amount of insurance must be high enough, otherwise it will not work.

For term life insurance, the sum insured must cover the parents' pension expenses + the cost of raising children + debts.

Taking a 40-year-old man with a debt of 2 million as an example, his parents are 65 years old, according to the "2018 Statistical Bulletin on the Development of China's Health and Health Undertakings" issued by the National Health Commission, China's average life expectancy is 77 years old, and the minimum pension fee for 1 year is 20,000, so it will be about 240,000 in 12 years.

The debt part is as much as it is.

So for people around 40 years old, at least the sum insured is required:

240,000 + 400,000 = 640,000.

And of course, add to that the family's debt.

How long does the coverage last?

The term of term life insurance is mainly 10 years, 20 years, 30 years, and 70 years old when you are 60 years old; The main function is to deflect the risk of family responsibilities at their heaviest.

Generally, it is more appropriate to buy about 60 of the insured. This covers the risks of major stages of life and saves a lot of premiums.

How long does it take? The longer the payment period, the better.

It can reduce the current economic pressure, and if it is not good, the money is not paid yet, and the people are gone, and the premium will be saved.

Many people think that term life insurance is not useful, it is not as easy to use as critical illness insurance, and these people fall into the misunderstanding, the existence of each insurance product must be because of the demand of the society, and the functions of these two products are not the same.

Although some term life insurance also has critical illness insurance payments, but it cannot be compared, term life insurance exists to prevent those people with average family finance, once the family economic pillar has an accident, the whole family is fragmented and falls into crisis, and life insurance can solve such a problem. So the question is, how to choose the right term life insurance for you? There are many tips for choosing term life insurance, and today's article is to teach you how to choose!

Whole life insurance is too expensive for ordinary families, and term life insurance is the most suitable insurance product for their risk needs. So how to choose a term life insurance? There are three aspects to consider:

1. Determine the amount of insurance Whether you buy any insurance product, it is a very important thing to determine the amount of insurance, and buying more and buying less has different impacts. The best way is to tailor according to each person's own situation, if there is a loan to repay, there are children to go to school, the elderly to support, then the insured amount should best cover these aspects, so that the family life will not be difficult to maintain after an accident.

If these aspects are not covered in the product, consider the cost of living, and in order to prevent misfortune and allow the family to have enough buffer events, the insured life insurance amount should cover the financial expenses of the family for at least three years in the future. 2. Protection content The protection responsibility of life insurance is relatively simple, with only two protections, one death and one total disability. However, some insurance products will erase the disability and save a sum of money when enrolling, so you must pay attention.

The exemption clause should also be noted, although the exemption of fixed life is relatively small, there are several causes of death that will not be claimed, which depends on the terms of the contract! 3. Regional differences There are differences in consumption levels in different cities, and there are also differences in personal value. This is also the reason why insurance companies set different standards for the maximum amount of insurance that can be purchased according to the economic conditions of different regions.

The above is the sharing of dry goods in Zhongzhao, Xi Peiyin hopes that after reading this article, you will have a simple understanding of the choice of term life insurance, which will help you when you choose to participate in insurance in the future, if you have more insurance questions, welcome to leave a message!

How to choose regular Shousui orange insurance? Remember these 4 key points of guessing the group.