Insurance Mistakes
Many people, especially the older generation, unconsciously cooperation and 'security' to 'save'. One reason for this misconception may be due to the way to attract business agent bundle; sales agent for the life of the program savings plan. This is not an argument that the entire career planning can not be a savings plan, but with more action to embed the 'Insurance' and 'misunderstanding of savings'. Another factor may be poor marketing and the unavailability of pure insurance plan early.
No doubt, the products are more of the traditional sales-oriented, it is giving the new customer-centric business model, and comprehensive Feng Xian Ti Gong financial planning services to resolve program and purpose.
Insurance companies to promote innovation and competition to create more solutions to enhance their existing suite of products. And it is a long-term plan.
Protection solutions - long-term plan
Term insurance is a very simple means of financial protection. Insurance and protection of the consumer decision time on their allowances hope. In return, consumers will pay premiums to insurance companies who honor the agreement.
In addition to living, consumers can choose, including major diseases, disability and personal accident insurance included in the plan. Consumers will receive a bonus, if any incidents occurred during the coverage. Insured, as long as the policy is to secure that insurers received in premiums within the grace period.
In the periodic nature of the insurance is pure protection purposes, so it has no cash value accumulation. However, some insurance companies to return to the cover by the end of all the premiums to pay higher premiums.
The end of this semester, some companies offer renewable options, it allows policy holders to cover, but at a higher premium. The new premium will be based on the reconstruction era.
Term insurance is a cost effective tool to raise interest rates you pay only for the coverage you need your coverage. For example, if a 30-year-old male of 25 years, needs 500 thousand U.S. dollars of coverage, the premium he will be calculated based on the average age of 30 to 55 years from the insurance rate of, rather than waiting until 99 years old, this is how life projects.
Evolution of the insurance period
The protected area is a long-term plan can cover the expansion. Include not only major diseases and disabilities, now expanded to disease prevention is an important early stage of the disease on the major key to multiple claims. Some of the early stages of the marketing package critical illness plan, you can in the market of women-related projects of major diseases. All of this can be a stand-alone long-term plan, or as another long-term and whole life plans riders.
Another long-term plan, an interesting feature is the mortgage insurance. The amount of such interest, which is based on the type of decline in mortgage interest long-term plan, the mortgage loan. In the past few years, the benefit amount so low, in fact give up a lot of premium.
Who is suitable
Regular insurance is for individuals who wants to have some temporary high minimum premium protection cover.
In the pre-mature death of the breadwinner to leave a sum to repay the mortgage, and provide families with monthly allowances so that partners can stay at home to take care of their children.
Over the years, term insurance is becoming a particular investment, a smart individual core protection plans are very popular. They found that term insurance is a reasonable price and the premium savings to purchase a long-term plan, rather than the whole life plan () can be used to invest in potential growth.
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