Is term life insurance better or lifetime, and buying life insurance is better for term or life

Difference Between Term Life Insurance and Whole Life Insurance.

1.The type of insurance is not the same.

Term life insurance is a type of consumer insurance, and the insured only bears the insurance liability within the period specified in the insurance contract: in the event of death or total disability, the contract will be terminated naturally upon the expiration of the insurance liability, and the premiums paid will not be refunded.

Whole life insurance is a type of savings insurance, which integrates protection and savings, and if the insured does not have an accident halfway, the insurance company will also give the insured a sum of insurance money when he reaches a certain age.

2.Premiums are not the same.

All things being equal, term life insurance tends to have lower premiums than whole life insurance.

For example, if the sum insured is also 500,000 yuan, if it is a term life insurance, the premium may be about 1,000 yuan, and the whole life insurance may have to quadruple;

3.Suitable for different people.

Term life insurance is suitable for young people who are just starting out in their careers, but they are the breadwinners of their families.

Because this part of the economy is not very rich, but for the family, once they lose their breadwinner, they will face the risk of losing the economy.

These people buy term life insurance to ease the family's financial gap in the event of misfortune, and it is also a continuation of love for the family.

Whole life insurance, on the other hand, is more suitable for wealthy families with certain financial strength, who have a certain financial foundation and hope to bring an income to their families after death.

For those with stable investment needs, whole life insurance is also a good choice for both investment and protection.

Hello, the two have their own advantages, those with a small budget must buy term life insurance, and those with a large budget must choose whole life insurance.

Term life insurance, as the name suggests, refers to the death liability within the specified time, the insurance company bears the liability for death, if the death during the period will be compensated, during the period of good life, the contract is terminated, there is no money to return to you, generally according to the insurance 20 25 30 years to 60 years old to 70 years old, etc., this belongs to the consumer insurance, the cash value is if the surrender can get back the money, the overall will be very low, from 0 to 0 to 0Because there is no money to return after expiration, the premium is low, and it is suitable for those who have the burden of family pressure, such as housing loans, car loans, raising children and the elderly, if you go early, the family can not afford these, the house may be repossessed by the bank, and the whole family will collapse.

Whole life insurance is guaranteed for life, no matter how long you live, as long as you die, you will lose money, this is called savings life insurance, because it will inevitably lose money, so the premium is also a little higher. Its cash value is generally higher than that of the regular period, and it is also gradually rising. Whole life insurance is suitable for everyone, all those who are caring and responsible, of course, if you are older, it is not very suitable because the leverage factor is small.

There is also a kind of financial management function called increased whole life, which has the function of asset appreciation, which can be used for asset inheritance, and can also be taken out for pension at any time, which is very popular.

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Fixed life and whole life are used for different needs, if it is for the sake of liability, term life insurance is generally used to transfer risk, and whole life insurance is more used for family asset inheritance, so there is no good or bad insurance, only whether it is suitable or not. If there is an insurance consultation, pay attention to the message at any time.

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.

Which is better to buy life insurance, term life insurance or whole life insurance, and what should I pay attention to.

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.

Which is more cost-effective, term or lifetime?

Life insurance can be bought on a fixed term, mainly to cover the years of family responsibility, such as the mortgage and car loan repayment period, before the child is a minor. If you buy a lifetime one, the premium is more expensive.

Which is more cost-effective, term or lifetime?

Term life insurance: If the insured dies or becomes totally disabled within the time specified in the insurance contract, the insurance company will compensate in accordance with the contract; If the insured is still alive at the end of the insurance period, the contract will be terminated naturally.

Whole life insurance: Whole life insurance can provide lifelong protection to the insured, regardless of the age at which the insured dies or becomes totally disabled, the insurance company will pay the insurance benefits.

How to choose life insurance, dad will teach you: "whole life insurance or term life insurance, dad will teach you to choose this way".

How to choose term life insurance and whole life insurance should be compared from various factors, and then combined with their actual needs. First of all, in terms of products, term life insurance premiums are lower and more cost-effective, which is more suitable for some people with low incomes but high protection needs. Whole life insurance, on the other hand, has a higher premium and is not paid until the insured dies, so it is not suitable for accident prevention or risk transfer.

Whole life insurance is a better choice if you value the savings function of life insurance, while term life insurance is a consumer product and does not have cash value.

Term life insurance means that during the insurance period, if the insured is completely disabled or dies, the insurer pays the corresponding death or total disability insurance benefits according to the contract, and if the insured is still alive at the end of the insurance period, the premium will not be refunded and the insurance company will no longer bear the insurance liability, and the contract will be terminated. Term life insurance is more clear in terms of protection, the product is more cost-effective, and term life insurance is a consumer-oriented product, so there is no refund of premiums and no savings.

This type of product is mainly suitable for people with relatively heavy family financial responsibilities, such as young people who have just started a family. This group of people is usually the family's financial support**, and if an accident occurs, it can cause the whole family to be unsustainable. At this time, the insurance money paid by term life insurance can help a family tide over the difficulties, maintain a certain quality of life, and not fall into difficulties.

The biggest feature of whole life insurance is that it provides lifelong protection, and it cannot be paid while the insured is alive, and the insurance benefit can only be obtained when the insured dies. Relatively speaking, whole life insurance is more like an investment, it has the role of risk transfer, and the requirements for the sum insured and premium are relatively high. Because whole life insurance is a certain payout, the product has a certain savings, even if the consumer surrenders the policy halfway, he can get the cash value, and he can lose money without returning the capital.

Whole life insurance is suitable for families with higher incomes and more adequate insurance budgets, and they can buy whole life insurance if they plan to leave money to their families. This will not only allow you to avoid taxes reasonably, but also leave a fortune for your family after your death.

If you still don't know how to choose, it is recommended to take a look at this article: "Whole Life Insurance or Term Life Insurance, Daddy Teaches You to Choose This Way".

In fact, the compensation mechanism of life insurance is relatively simple, that is, the insured dies or pays after total disability, but many people do not know that the selection of life insurance also requires a lot of skillsUltra-complete! Comparison table of popular life insurance in China

Many people are struggling with whether to buy term or lifetime life insurance, but in fact, I personally recommend term critical illness insurance for the following reasons:

1. The main function of life insurance is to protect the risk of the collapse of the family pillarLife insurance solves the problem of not leaving debts to the family after death, and can continue to fulfill the obligation of support and support, and fulfill the final responsibility to the family; Therefore, it is more reasonable to protect before retirement, if you unfortunately die before retirement, child support, elderly support, housing and car loans, etc. will be pressed on the other party, if there is a life insurance payment, at least you can leave a sum of money for your family to maintain their lives; However, if you die after retirement, it will basically not cause a devastating blow to the family economy, so the life insurance payout at this time is not as significant as before retirement.

2. Term life insurance is more cost-effectiveTerm life insurance protection to 60 or 65 years old, an average of about 1,000 a year, the amount of insurance can be bought hundreds of thousands, and whole life insurance will definitely pay, so the premium will be more expensive, generally the same premium, whole life insurance can only buy half of the sum insured of term life insurance, if you die before retirement, and fail to play the role of life insurance to the mechanism, so compared to term life insurance is more cost-effective.

Summary: Buying life insurance should not only look at the payout, but also should pay attention to his own role, protect until retirement to play its maximum value, if you do not have the experience of buying life insurance, you might as well take a look at the ten I selected:Top 10 Life Insurance Worth Buying!

If you want to say that whole life insurance or term life insurance is better, you still have to choose according to your actual situation.

If you have a small partner who does not understand insurance knowledge very well, you can take a look at this article first:Ultra-complete! Everything you need to know about insurance is here

Take the budget as an example, if you are a small partner with a low budget, it is recommended to buy term life insurance first, and then add a whole life insurance when the economic situation improves; If you have a sufficient budget, it is recommended to buy whole life insurance, so that the protection time is relatively long, and you don't have to worry too much about losing your protection in the future.

In the face of so many different life insurance products on the market, in order to allow you to better find the right one for yourself, the following is a list of life insurance rankings, remember to take a look:Top 10 Life Insurance Cracks Worth Buying!

However, if you consider that after the age of 60, most people have entered the stage of retirement and no longer bear the responsibility of family economic income**, then to some extent, it is enough to buy a fixed-term life insurance product that is guaranteed to the age of 70.

However, if some friends still have life insurance protection needs after the age of 70, they can choose whole life insurance products, but whole life insurance is more used to pass on their assets to future generations in the form of insurance, so you should consider clearly when choosing.

Finally, I would like to remind you that before buying life insurance products, it is recommended to configure critical illness insurance and medical insurance to protect diseases, because illness is closer to people's lives than death, and it is more important to protect your body.

Speaking of which, the senior sister also compiled an article about the difference between critical illness insurance, medical insurance, accident insurance and life insurance for Dahu or Jia, interested partners can take a look:What is the difference between critical illness insurance, medical insurance, accident insurance, and life insurance? Will there be a conflict when making a claim?

Hope!

Term life insurance and whole life insurance have different functions, and there is no real right or wrong when it comes to choosing, it depends on which one is right for you. If you are the main economic leader of the family, and at the same time have a large amount of family debts (such as housing loans, car loans, children's debts, etc.), it is more suitable to choose term life insurance to solve the problem, and if you consider asset inheritance, you can choose whole life insurance.

Term life insurance. Term life insurance provides protection for a period of time, such as up to age 60 or age 65. If the insured dies within the period agreed in the contract, the insurance company will pay the insurance benefit to the beneficiary.

In addition, the premium of term life insurance is relatively low, which is generally suitable for the family economic pillar and the family with family debts, to prevent the personal risk of the family economic pillar, resulting in the normal life of the family is seriously affected, such as housing loans, car loans, child support, elderly support and other problems can not be solved.

Whole life insurance. Whole life insurance is a type of indefinite life insurance that provides lifelong protection to the insured, i.e. the insurance company is responsible to the insured until the death of the insured. Whole life insurance covers the eventual life of a person, and the insurance company pays the beneficiary the sum insured at the time of the event.

The allocation of whole life insurance generally considers the issue of asset inheritance, and the premium of whole life insurance will be much more expensive than that of term life insurance, usually several times higher than that of term life insurance.

Precautions for buying life insurance.

1.Select the product type as needed.

There are differences in the coverage content of each type of life insurance product, so consumers should choose life insurance based on their actual needs. Only by applying for insurance on demand can you buy the right product, to ensure that the benefits of protection are maximized, you must not blindly follow the trend, what is suitable for others may not be suitable for you.

2.Pay attention to these terms.

Reinstatement clause: In life insurance, after the policy lapses due to the policyholder's failure to pay the premium on time, the policyholder can apply to the insurance company for reinstatement of the contract within two years from the date of invalidation; If the policyholder does not apply for reinstatement within two years of the policy's lapse, the policy will lapse permanently.

Misstatement of age clause: In a life insurance policy, age directly affects the insurance company's collection of premiums. Therefore, the misstatement of age clause stipulates that if the age of the insured is not true and the real age does not meet the requirements of the contract, the insurance company has the right to terminate the contract.

Beneficiary Clause: Because life insurance is a death-based claim, the claim is generally left to the family. Therefore, it is important to pay attention to whether the beneficiary is designated or the legal beneficiary.

Generally speaking, in life insurance, the beneficiary can be designated by the insured or the policyholder, and the policyholder must obtain the consent of the insured when designating the beneficiary; If the insured does not designate a beneficiary, the insurance proceeds will be received by the insured's legal heirs as the insured's estate upon the insured's death.

3.Choose an eligible insurance channel.

With the development of Internet technology, online insurance is very popular, online products are low cost, more cost-effective, more advantageous to buy insurance products, and diversified ways, but it is inevitable that there will be some phishing**, consumers should beware, do not be deceived.

In short, the insurance channel is also a very critical step.