What is universal insurance and what does universal insurance mean

What is universal insurance?

Universal Insurance: Universal insurance is a life insurance with insurance protection function and a separate policy account, and the policy account value provides a minimum return guarantee.

It can not only provide life protection, but also allow customers to participate in the investment activities of the funds in the policy account established by the insurance company for the policyholder, and the policy value is linked to the performance of the policyholder's policy account funds operated independently by the insurance company, and the investment expert will be responsible for the investment decision.

Because universal insurance has a financial nature, it is often compared with participating insurance or increased whole life, so what is the difference between them? After reading this article, you will know: [link]{What is the difference between participating insurance, universal insurance, and increased whole life insurance?}

Which one is the best deal?

Its "omnipotence" is mainly manifested in the flexible payment, adjustable sum insured, and convenient account value.

1. Flexible payment.

You can choose to change the payment period, you can defer or stop paying premiums when your income changes in the future, you can continue to pay premiums after three or five years or more, and you can also increase the premiums one or more times.

2. The sum insured can be adjusted.

You can choose or change the "basic sum assured" within a certain range at any time, so as to meet people's different needs for protection and investment.

3. It is convenient to receive the account value. Customers can apply to receive the policy account value at any time, which can be used as their children's education, marriage, and entrepreneurship funds, and can also be used as medical reserves and pension reserves for themselves or other family members.

Universal Insurance's Universal Account*** Interest Rate. After deducting the relevant expenses, the premiums go into a separate account, and the insurance company allocates the funds into various investment vehicles according to its investment strategy. The insurance company stipulates the minimum guaranteed interest rate of universal insurance in the insurance contract, and its biggest feature is that in addition to the minimum guaranteed interest rate, the income above the minimum guaranteed interest rate is shared by the insurance company and the investor in a certain proportion.

Of course, the guaranteed interest rate of each company is not the same, and the final income still depends on the level of capital utilization and comprehensive management ability of the insurance company.

However, it should be noted that the guaranteed income of universal insurance is not the rate of return of the entire premium, but the part of the premium that goes into a separate account after deducting the relevant expenses. So how much does it really earn? Click on the link below, and the senior sister will tell you!

link]{Wealth management with universal insurance, stable and safe income?} Doxxing universal insurance!

Universal insurance is a kind of life insurance with flexible premiums, adjustable sum insured, and non-binding.

Specifically, it is defined as a life insurance product that includes insurance protection functions and has a separate policy account. According to the contract, the insurance company transfers the insurance premium to the policy account after deducting a certain fee, and settles the policy account value on a regular basis. The insurance company regularly deducts risk insurance premiums and other expenses from the account value of the policy in accordance with the contract.

In terms of investment income, these products provide a minimum return guarantee for the account value of the policy.

The fees that can be charged for a universal insurance policy include the initial fee, risk insurance premium, policy administration fee, partial collection fee, and surrender fee. Depending on the product, the above fees are charged. The insurance company sets up a separate account for universal insurance and provides a minimum guaranteed interest rate, and when the actual rate of return of the separate account is lower than the minimum guaranteed interest rate, the settlement interest rate of universal insurance should be the minimum guaranteed interest rate.

The reason why universal insurance is called universal insurance is that customers can make appropriate adjustments to the sum insured, premium, and payment period according to their protection needs and financial resources at different stages after applying for insurance.

In other words, in addition to paying a certain minimum amount of the first premium, the policyholder can pay any amount of premium at any time, and increase or decrease the amount of death benefit at will, as long as the accumulated cash value in the policy investment account is sufficient to cover the cost and expenses of risk protection in subsequent periods.

Universal insurance refers to a type of life insurance that has a very flexible payment and can be adjusted in terms of sum insured. Its characteristics are: first, the payment is flexible, you can choose or change the payment period at will, and you can also delay or stop paying the premium in the future; Second, the sum insured can be adjusted, and people can choose or change the "basic sum insured" within a certain range according to their own needs; Third, it is convenient to receive the policy value.

Customers can claim the policy value amount at any time.

Universal insurance is a type of insurance product. In addition to providing life protection like traditional life insurance, customers can also directly participate in the investment activities of the funds in the investment account established by the insurance company for the policyholder, and the policy value is linked to the performance of the policyholder's investment account funds operated independently by the insurance company.

Universal insurance is a kind of investment-type life insurance that coexists with risk and protection, and is between participating insurance and investment-linked insurance. Under this "universal insurance" insurance method, the insurance premium paid by consumers is divided into two parts, one part is used for insurance, and the other part is used for investment, and the money in the investment part can be converted into insurance by the consumer, which may be manifested in the adjustment of changing the payment method, payment period, insurance amount, etc.

There are generally three types of protection amount design of universal insurance: insurance premium + investment account value, the greater value after the coefficient between insurance premium and account value, and one of the coefficients of insurance premium or account value.

<> universal insurance is a new type of insurance product, which can meet the various insurance needs of the policyholder, and the policyholder can freely choose the coverage according to his actual situation, which can effectively reduce the insurance cost of the policyholder. This article will introduce the definition, features, coverage, and insurance process of universal insurance.

1. What is universal insurance?

Universal insurance is a new type of insurance product, it is a comprehensive insurance product, which can meet the various insurance needs of the policyholder, and the policyholder can freely choose the coverage according to his actual situation, which can effectively reduce the insurance cost of the policyholder.

2. Characteristics of universal insurance.

1) The premium of universal insurance is relatively low, and the policyholder can freely choose the coverage according to his actual situation, which can effectively reduce the insurance cost of the policyholder.

2) Universal insurance has a wide range of coverage, and the policyholder can choose the coverage according to his or her actual situation, which can meet the various insurance needs of the policyholder.

3) The claim process of universal insurance is relatively simple, and the policyholder can choose the claim method according to his or her actual situation, which effectively reduces the claim cost of Jingqin policyholders.

3. The coverage of universal insurance.

Universal insurance covers the following areas: Accidental Death and Disability Insurance, Accidental Injury Medical Insurance, Accidental Injury Hospitalization Allowance Insurance, Accidental Injury Hospitalization Allowance Insurance, Accidental Injury Care Expenses Insurance, Accidental Injury Property Damage Insurance, Accidental Injury Travel Compensation Insurance, etc.

4. The insurance process of universal insurance.

1) Determine the insurance plan: the policyholder determines the insurance plan according to his actual situation, including the insurance period, the insurance amount, etc.;

2) Choose an insurance company: the policyholder chooses an insurance company according to his actual situation, and chooses an insurance company with a good reputation and perfect service;

3) Fill in the insurance form: the policyholder needs to fill in the insurance form, fill in the basic information of the policyholder, the basic information of the insured, etc.;

4) Pay insurance premiums: The policyholder needs to pay insurance premiums according to the requirements of the insurance company;

5) Issuance of policy: After the insurance company approves the policy, the policy will be issued, and the policyholder can receive the policy.

Universal insurance is a new type of insurance product, which can meet the various insurance needs of the policyholder, and the policyholder can freely choose the coverage according to his actual situation, which can effectively reduce the insurance cost of the policyholder. Universal insurance has a wide range of coverage, and the insurance process is relatively simple, and the policyholder can choose the claim method according to his or her actual situation, which effectively reduces the claim cost of the policyholder. Therefore, universal insurance is an insurance product worth insuring, and policyholders can choose carefully according to their actual situation.

This article introduces the definition, characteristics, coverage and insurance process of universal insurance, universal insurance is a new type of insurance product, which can meet the various insurance needs of policyholders, with low premiums, wide coverage and simple claim process, which is a worthwhile insurance product, and policyholders can choose carefully according to their actual situation.

Universal insurance is a type of insurance that has both protection and financial management functions. In addition to ensuring life like traditional life insurance, it also opens a guaranteed income wealth management account, which can enable policyholders to participate in the investment activities established by insurance companies. The payment method of universal insurance is flexible, and after paying the first insurance premium, the insured can choose the time to pay the premium according to their own needs, and the insurance fee can also be set by themselves.

After paying the first premium, the policyholder can also pay the universal insurance premium from time to time, and can also freely reduce or increase the amount of death benefits. The insurance company shall explain to the insured the relevant fees charged and make the fees transparent. The funds of the universal insurance account can be flexibly withdrawn under the conditions agreed in the contract, and the policyholder can usually refund the insured amount for adjustment.

Universal insurance can provide a minimum income guarantee for a wealth management account, set a minimum guaranteed interest rate, and settle investment income regularly. The main reason why universal insurance is called "universal insurance" is that after purchasing universal insurance, the policyholder can regulate the insurance cost, pre-insurance fee and payment period according to the service needs and economic conditions of the life stage, so as to maximize the limited funds in their hands.