Today, I will give you some knowledge about life insurance. Before we start, you can compare the popular life insurance products on the market: Super Full! Domestic popular life insurance comparison table
Among life insurance products, term life insurance is a pure insurance product, which usually has no financial management function, and can provide personal protection for the insured for a period of time, such as death and total disability.
Whole life insurance, an increment in life insurance, is an investment and wealth management insurance integrating security and wealth management.
If you don't know about the increase in whole life insurance, you can have a basic understanding of this kind of insurance through this article: Who owns the increase in whole life insurance, which can be managed and guaranteed? Is it worth starting with?
The reason why whole life insurance has the function of investment and financial management is that the annual effective coverage of such insurance products will increase year by year in proportion, and with the progress of the policy year, the annual effective coverage of whole life insurance will be higher and higher.
Moreover, the policy cash value in whole life insurance increased year by year, and the current price in whole life insurance began to return until the policy cash value exceeded the total input premium, which meant that whole life insurance began to generate income.
During the insurance period, consumers can obtain the increased cash value of whole life insurance policies by means of insurance reduction, surrender and policy loans as agreed, so as to achieve the purpose of financial management.
It should be noted that the increase of cash value of whole life insurance policies is relatively slow in the early stage. If you choose to withdraw your insurance soon after the insurance, the current price in whole life insurance may not return. Even if the current price returns, consumers may not earn much.
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