I. Classification of life insurance
Life insurance is divided into one-year life insurance, term life insurance and whole life insurance.
1. One-year life insurance
The price is relatively cheap, but every time you apply for insurance, you need to inform your physical condition, so it is more difficult to renew your insurance later.
2.？ Term life insurance
Avoid the risk of premature death from family support. If the claim conditions are met within the warranty period, you can pay compensation. Insurance money is often used for family living expenses, child support, parental support and later debt settlement.
3.？ whole life insurance
Lifelong compensation has strong savings, and the income obtained is more as wealth inheritance to avoid inheritance tax.
Second, the difference between term life insurance and whole life insurance.
So how to choose these two kinds of life insurance? If you want to know, you can read this article: "whole life insurance is still a term life insurance, and dad taught you to choose this."
Term life insurance
The product rate of consumer insurance is lower, so its price is lower than that of whole life insurance.
During the guarantee period, if the insured dies/is totally disabled, the insurance company will pay compensation according to the terms.
This insurance money can be regarded as a kind of economic compensation for his family, so as to protect his family life and avoid the interruption of family income caused by the death of the family breadwinner.
whole life insurance
It not only provides lifelong guarantee, but also embodies its economical nature.
Death is the ultimate destination of human beings. Under normal circumstances, whole life insurance will be paid.
Therefore, the price in whole life insurance is also higher than that in term life insurance.
Third, dad's summary.
When insuring life insurance, we should pay attention to the difference between term insurance and life insurance. We should plan and choose products according to our own reality and needs.