As we all know, critical illness insurance is divided into consumer insurance and return insurance, among which return insurance is often regarded as a good tool for "compulsory savings" and "investment and financial management". However, among all kinds of financial tools, is surrender really a good choice for your financial management? Is the returned critical illness insurance worth buying? Today, Bai Baojun will take you to find out.
1. What is the returned critical illness insurance?
Before starting the topic, we must first understand the difference and connection between the so-called consumer insurance and return insurance.
Consumer critical illness insurance is generally low in cost and price. Its characteristic is that whether there is a need to pay or not, it will automatically expire when it expires, and you can't get back the previous principal. But its great advantage lies in its low premium, and your initial investment is often small. If you pay attention to the protection function of insurance, then consumer products are generally your first choice.
The price of the returned critical illness insurance is often higher, because the returned insurance has the characteristics of "not getting out of danger at maturity and returning the principal". Moreover, the sales model of return insurance is generally agent sales, and there are additional expenses, which will be shared by consumers. But if you don't care about short-term gains and only use insurance as a tool for "long-term savings", then return insurance can lock in the rate of return and give you extra protection.
In short, if you buy consumer critical illness insurance and don't go out when it expires, it means that you have spent money to buy a guarantee during the insured period; I bought a refundable critical illness insurance, and if I didn't get out of danger when it expired, I would refund the due amount according to the agreed proportion.
Is returning critical illness insurance with higher premium a good choice for your asset allocation? Is the returned critical illness insurance worth buying?
2. How to identify the returned critical illness insurance?
In recent years, in order to meet the investment needs of the public, various wealth management products have emerged one after another. In order to meet the market demand, insurance companies have also introduced a large number of return insurance. You can note that most of the "dividend insurance" and "universal insurance" on the market belong to return insurance; There is also the so-called life insurance, which generally belongs to return insurance.
Common return insurance includes health insurance, wealth management insurance and endowment insurance; And our protagonist today-returning critical illness insurance belongs to the category of returning health insurance. Some regular and life-long critical illness insurance belts have the function of returning, all of which belong to the returned critical illness insurance.
Therefore, when buying insurance in the future, you can easily identify the returned critical illness insurance as long as you look for the keywords given by Baibaojun.
3. Is the returned critical illness insurance worth buying?
"Investment and financial management+guarantee" is the best marketing method for returning critical illness insurance. However, according to Bai Baojun's investigation, there are not many return-type periodic critical illness insurance worth investing in the market at present, and the conditions for return are very strict. Generally, we have to wait until the end of the guarantee period, and no claims have occurred during the insurance period. So once paid, it is difficult to get the money back. At this time, it is equivalent to investing a lot of premiums in return insurance, but only getting the same income as consumer insurance, which is very uneconomical.
If you buy the financial product of returning critical illness insurance, it is easy to see the scene of the title of our article. It will be about 50 years before you get your income. If you choose to surrender during these 50 years, it is very likely that you will not get your wealth management income, or even your original principal.
Another thing you should pay attention to is that once the returned critical illness insurance you purchased is out of danger, not only the premium that is several times more expensive cannot be returned; Moreover, we can no longer buy critical illness insurance with low premium, high insurance coverage and comprehensive protection. The risks after life can no longer be escorted by insurance.
Bai Baojun believes that the only return-type critical illness insurance worth buying on the market at present is life-long return-type critical illness insurance. The remarkable feature of this kind of products is that it is agreed to return all insurance premiums at a certain age (such as 70 or 80 years old), and the guarantee is still valid. It means that when you reach a certain age, you will return all your principal and agreed income, and then insurance will still protect your health.
To sum up, in the case of paying the same premium, the amount of returned critical illness insurance is often much lower than that of consumer critical illness insurance. Getting the returned premium does not mean earning it; You just put part of your money in the insurance company and get the principal and meager interest at maturity; If you just invest, you have more and better choices. Therefore, Bai Baojun believes that it is enough for ordinary families to buy consumer critical illness insurance, and there is no need to buy return critical illness insurance in order to return the principal. This is an asset allocation that is not worth the loss.
The above Baibaojun analyzed in detail whether the returned critical illness insurance is worth buying. If you are still confused and don't know how to choose the insurance product that suits you, you can consult an excellent professional insurance broker. Because professional insurance brokers will make a comprehensive evaluation and tailor-made plans according to your problems and needs, Baibaojun has a professional and powerful insurance team to match the most suitable professional consultants for you, and search Baidu "Baibaojun" to provide you with more professional insurance!