It is better to buy the insurance for life for a fixed period of time

First: score the difference between the two.

Term Critical Illness Insurance: It is based on a fixed period of coverage (e.g. up to age 60, coverage up to age 70), during which a claim can be made if a critical illness occurs. Whole Life Critical Illness Insurance:

The term of coverage is limited to life, that is, until the death of the insured. (Some critical illness insurance policies with coverage for more than 100 years old are also commonly referred to as whole life critical illness insurance.) ）

Secondly, after understanding the definition of both, consider how to choose based on your age and income.

1) If you are relatively young and still in the rising stage of your career, the main risks at this time are death, disability and critical illness. If illness occurs while working, you may face the risk of losing your income, facing high medical bills, and facing no income due to family resignation to care. Therefore, when you are still young and your career is on the rise, and your income and savings are still relatively limited, you should give priority to regular critical illness insurance.

The advantage of this is: **cheap, can really do small and big. However, the term insurance is pure protection, that is, it does not carry any return and savings nature.

In other words, if there is no risk of illness during the coverage period, the cost of protection (i.e. the premium you paid) will be consumed.

2) If you are already in a stable career period, and your child may have basically completed college education, and there is no other pressure, then it is suitable to directly purchase lifelong critical illness insurance. Because the risk at this time is the risk of spending your hard-earned money and not being able to take out so much cash at once, and it will drag down the child if you don't do it well, so in order not to be caught off guard, plan insurance to resist this risk. The advantages of this are:

Comprehensive protection and lifelong protection are equivalent to an insurance that will definitely be compensated. Therefore, it will definitely be used, and children and grandchildren will also benefit. However, these products** are not cheap, they will be more expensive than term critical illness insurance, and they may be denied coverage or have their premiums increased for health reasons.

Finally: Suggestions based on practical experience.

Most whole life critical illness insurance plans offer instalment payment and premium waiver, and the lower the age, the lower the premium.

Suggestions: 1) Personal accident insurance: Although it is a consumption form (no return of principal), risks are everywhere, and a small amount of investment is in case of emergency. It doesn't take much, about 200 yuan.

2) Critical illness insurance: When you are young, the rate is lower, and the payment period is longer. For example, when China Life's Kangheng is 20 years old, he pays 10,000 yuan for 30 years, and the annual amount of insurance is about 200 yuan, which is the lifelong wealth in the future.

3) Appropriate amount of dividend insurance: compulsory savings, which is legal private money in the future, and no one can take it. However, the payment period should not be too long (3 to 5 years is appropriate).

If it's good for life directly, should you save money for the next generation?

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We can know from the above picture that we can find the name of term life insurance in consumer life insurance, and there are many ways to choose from protection, such as one year of protection, 20 years, 30 years, and even 70 years old, 80 years old.

What is Term Life Insurance? Who is it suitable for? Everything you want to know is here!

In addition, if the premium and sum assured of term life insurance have been determined, they are generally rarely changed.

For example, if the 30-year-old Xiao Li needs to spend 1 million on life insurance, it means that once he encounters danger, he will be compensated 1 million; Xiao Li needs to pay a fixed premium every year, which is 1,000 yuan a year, just teach like this.

The protection of whole life insurance is valid for life, and people will always die, so if consumers buy life insurance, they do not have to worry about not being compensated.

Whole life insurance can inherit and distribute wealth, and it also plays a big role in the planning of cash flow.

The relevant laws stipulate that the estate does not include a death benefit for a designated beneficiary, so for ordinary families, most of the meaning of buying life insurance is not for wealth inheritance, but most of the reason is to prevent the family's financial pillar from falling.

Therefore, the senior sister suggested that it is better to buy term life insurance than to buy whole life insurance!

In this case, there are many term life insurance products on the market today, how to choose a high-quality term life insurance? Senior sister has a few tricks, this will teach you!

3. How to choose a life insurance product?

1. There are few restrictions on insurance conditions.

A good life insurance, if the health notice is more relaxed, the lower the insurance threshold, which will greatly increase the probability of insurance!

Nowadays, the health notice of popular life insurance on the market, 80% of them are three, if you encounter more than 3 products with health notice, it means that the threshold for such term life insurance is very high

Top 10 Life Insurance Worth Buying!

2. The amount of insurance without physical examination is high.

The main function of buying life insurance is to leave a sum of money for your family, how much insurance should you buy?

The senior sister is calculated according to the formula of a family's debt situation + monthly living expenses to parents * 12 * (85 - parent's age) + children's annual parenting and education expenses * (25 - children's age).

The formula stated above refers to what the family must spend, such as housing and car loans, living expenses, parental pension and children's education.

Because of this, in the case of sufficient financial preparation, the higher the amount of medical examination insurance for a family, the better, so that their family can survive even if they lose their support.

3. Choose products with cheap premiums.

At present, term life insurance is very simple, and only death and total disability can be covered.

If you want to invest in term life insurance, if you are in good physical condition and have a safe nature of work, it is recommended that you buy some products with lower premiums!

Term life insurance, as far as it is concerned, is generally suitable for people who lack protection needs, but whose income and expenditure are not equal, such as young people who have just started their careers, have low incomes, and the funds are mainly used to develop their careers; The breadwinner of the family, the main family income**; Single-parent families with minor children, in the event of an accident, the children lack basic living security; People who are good at investing and managing their finances, taking into account both protection and investment needs.

Whole life insurance, which is equivalent to bank savings and has a protection function, is more suitable for wealthy families, because they have a certain financial foundation and hope to bring an income to their families after death. Or, for those who have stable investment needs, whole life insurance is a good choice for both investment and protection. To sum up, when we allocate life insurance, it is recommended to choose according to the actual economic conditions and immediate protection needs, so as to improve the protection of yourself and your family.

Of course, if conditions permit, even if you buy a whole life insurance with savings dividends, you can also buy term life insurance on top of it to get the ideal protection at a low price.

To put it simply, whole life insurance is "inheritance insurance" and term life insurance is "debt insurance". If you want to leave an inheritance, buy whole life insurance; If you have debts, buy term life insurance.

Hello, term life insurance means that within the period agreed in the insurance contract, if the insured dies or becomes totally disabled, the insurance company pays the insurance money according to the agreed insurance amount; If the insured is still alive at the end of the insurance period, the insurance contract will be terminated naturally, and the insurance company will no longer bear the insurance liability and the insurance premium will not be refunded. Term life insurance offers a variety of insurance terms, such as 10 years, 15 years, 20 years, or up to an agreed age such as 50 or 60 years old. At present, the most cost-effective term life insurance plans are:

Huagui Barley 2020 Term Life Insurance: The maximum sum insured is 3.5 million, expanding the protection of the new coronavirus, the noble choice; Total disability and death are guaranteed, a safe choice; There are fewer exemption clauses, a short waiting period, and more comprehensive protection. For more questions, it is recommended to go to the Sycamore Tree Insurance Network, where the insurance planner will formulate a suitable insurance plan for your reference according to your actual situation.

Which is more cost-effective, term or lifetime?

Buying insurance is not simple, especially when buying critical illness insurance, it is not simple, many people are very entangled in whether to buy critical illness insurance for term or life, so this article will definitely be useful for you: should you choose to protect critical illness insurance for term or life?

Using ComviCare as an example, we can clearly understand that there is a big gap in the premium between term critical illness insurance and whole life critical illness insurance, so the advantages and disadvantages of term critical illness insurance and whole life critical illness insurance may be studied in detail. <>

Advantages: Term critical illness insurance can be covered for a limited period of time, so the premium is often much lower than that of whole life critical illness insurance, which means that the premium is cheaper for the same sum assured.

Disadvantages: There is a limit to the duration of the coverage, the common ones are 10 20 30 years to 70 years old, then the coverage will be lost after the contract expires, and the maximum cash value is much lower than the premium paid. Especially at this time, it can be difficult to apply for other critical illness insurance due to health and age.

2. Whole life critical illness insurance.

Advantages: The term of protection is lifelong, the insured can get the insurance money if he suffers from a critical illness before his death, and the cash value can be close to or exceed the premium paid for a certain period of time, which means that at this time the policy can get more money when surrendered.

Disadvantages: Whole life critical illness insurance, as the name suggests, is to protect a lifetime, and you can live as long as you want, so the premium of whole life critical illness insurance will be much more expensive than regular critical illness insurance, because you need to bear the high incidence of old age, it is worth mentioning that Kanghuibao has been upgraded this year - Kanghuibao Ultimate Edition, friends who want to know more about this product can take a look at this review: Kanghuibao Ultimate Edition is coming!

Is it still fragrant under the new rules for critical illness?

Summary. In fact, whether it is a child or an adult, it is best to try to make the sum insured as high as possible when choosing critical illness insurance, and choose a product with low premium, high sum insured and comprehensive coverage. Before buying insurance, you should compare different products before making a choice

A comparison table of 136 popular critical illness insurances in China.

If the budget is sufficient, it is recommended to configure the whole life critical illness insurance first, then you can protect it for life.

To put it simply, whole life insurance is "inheritance insurance" and term life insurance is "debt insurance". If you want to leave an inheritance, buy whole life insurance; If you have debts, buy term life insurance.

Many people will be entangled in the fact that they don't know whether to protect critical illness insurance until the age of 70 or 80 or for life. In fact, you can look at the wallet, if you have money, you can guarantee it for life, and if you don't have money, you can guarantee it regularly. The first thing is to make a high sum insured.

Buying insurance is not simple, especially when buying critical illness insurance, it is especially not simple, many people will be entangled in whether to buy critical illness insurance for term or life before buying critical illness insurance, I believe this article can definitely help you: should you choose to protect critical illness insurance for term or life?

Advantages: Term critical illness insurance can only cover a period of time, so the premium will be much lower than that of whole life critical illness insurance, which means that the sum insured is the same, but the premium is lower.

Disadvantages: It cannot be guaranteed for life, mainly 10 20 30 years to 70 years old, if the contract expires, then the protection is gone, and the premiums paid are much higher than the maximum cash value. Especially at this time, due to age and health, it will be more difficult to apply for other critical illness insurance.

2. Whole life critical illness insurance.

Advantages: Lifelong protection, as long as the insured suffers from a critical illness before death, he can get the insurance money, and the cash value can approach or exceed the premium paid at a certain point in time, which means that more money can be refunded at this time.

Disadvantages: Whole life critical illness insurance as the name suggests is to protect a lifetime, and you can protect until what age you live, so in terms of premiums, whole life critical illness insurance will be much more expensive than regular critical illness insurance, because you need to bear the high incidence of old age, it is worth mentioning that Kanghuibao has been upgraded this year - Kanghuibao Ultimate Edition, friends who want to know more about this product can take a look at this review: Kanghuibao Ultimate Edition is coming! Is it still fragrant under the new rules for critical illness?

In summary, whether it is a child or an adult, when buying critical illness insurance, you should try to make the sum insured as high as possible, and choose a cost-effective product with comprehensive coverage, low premiums and high insurance amount. Before buying insurance, you should compare different products before making a choice: a comparison table of 136 popular critical illness insurance companies in the country.

If you have sufficient funds, you can configure lifelong critical illness insurance first, so that you can be protected for life.

To put it simply, whole life insurance is "inheritance insurance" and term life insurance is "debt insurance". If you want to leave an inheritance, buy whole life insurance; If you have debts, buy term life insurance.

Many people will be entangled in the fact that they don't know whether to protect critical illness insurance until the age of 70 or 80 or for life. In fact, you can look at the wallet, if you have money, you can guarantee it for life, and if you don't have money, you can guarantee it regularly. The first thing is to make a high sum insured.