What should I pay attention to before applying for insurance? As a beginner, ask yourself 6 questions!

In recent years, insurance companies have introduced different types of savings insurance, giving the public a variety of savings channels. However, many novice investors or insured society do not know much about savings insurance, and there are a lot of questions for students: what type of savings insurance is right for them? What should I pay attention to before applying for insurance? How big is the risk of deposit insurance?短期保險 Bowtie information team collected The opinion of the actuary summarizes the 6 major issues that novices need to think about before applying for insurance!

What is my goal in buying savings insurance?

There are many types of savings insurance on the market. To find the most suitable product, the goal of insurance must first be considered. Do you want to get a stable return in a short period of time? Or want to invest in the long-term while getting life protection at the same time? Understanding the goals behind the insurance can make you more aware of the savings products you need.

Types of savings insurance plans

Savings life insurance, life insurance plans with guaranteed income, annuity plans, universal life insurance and critical illness insurance

Savings insurance can be roughly divided into two types: investment type and protection type. Generally, investment-based products include savings life insurance, life insurance plans with guaranteed income, annuity plans and universal life insurance; while protection-based savings products have life insurance and critical illness insurance.

If you want to earn stable returns in the short term, you can consider savings life insurance similar in nature to fixed deposits. The general policy term is less than 15 years. .

If you want to earn instant cash in the short term, you can consider buying a life insurance plan with guaranteed income, which is similar in nature to debt. After the policy period begins, the interest-bearing guaranteed cash reserve is allocated regularly, but the policy payment period is longer than the short-term savings plan, ranging from 5 years to more than 10 years.

If you want to start a long-term savings plan for retirement, you can choose a life insurance plan with guaranteed income and an annuity plan. These plans will also distribute money regularly after you retire to ensure that you have enough savings to survive the life of a retiree.

The insurance group will waive the deposit for 2 months.

Whether it is investment or protection-based savings insurance, there is a protection component. Before buying savings insurance, you need to consider whether you have life or critical illness protection needs. If you already have these protections and want to buy savings insurance, you may be suitable for savings products such as savings life insurance or guaranteed cash reserves, which are investment-based and less protected.

If you want to need these protections at the same time you want to achieve savings, you can choose protection-based savings products such as life and critical illness insurance.

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