Savings insurance is a kind of insurance designed by insurance companies, which combines the basic guarantee function of insurance with the saving function. If nothing happens during the insurance period, the insurance company will return a sum of money to the insurance beneficiary at the agreed time. Similar to the lump-sum deposit and withdrawal of a bank, the annual premium is deposited in an insurance account and can be withdrawn after the agreement expires.
Savings insurance can ensure the safety of funds under the condition of rich income, and has a strong function of saving and preserving value. The insured can often get life insurance money or accumulated bonus according to the policy agreement, which highlights the function of insurance financial management.