Payment period of the interests of the different policies are different Insurance Tips

Category: Insurance tips Release Date: 2006-08-01

Recently, a large life insurance companies introduced a Dividend whole life products, such products will be reduced to a minimum payment period of 3 years. Insurance products, the more reduction, the shorter payment period, more and more choices. So, how long the payment period in the end the most suitable?

It is understood that the market life insurance products for life Dividend payment period is usually 10 years, 20 years, 30 annual payments or one-time payment method-based, and only some of the products can choose shorter-term five-year payment method , while the 3-year dividend payment whole life insurance policy type is the first time appearance.

Select payment period according to age, income

"3-year 5-year period of payment more suitable for those currently funded, but uncertain future income customers." By the insurance company pointed out that the insured paid premiums quickly, to avoid the unpredictability of future fluctuations in income.

Reporters have more and found that dividend-based insurance, the shorter the period of payment, the interest income may be more.

As shown in the table, 3 years and 5 years of payments to pay the total premium paid less the same, but according to one percent of the dividend rate, at least 30 years or 50 years, the three years of the policy to pay accounts and cash accounts worth more than the value of 5 years to pay big.

So, long payment period in the end it better?

Insurance experts said, choose which payment method should be vary. Policyholders should be based on their own balance of payments situation, age, and the pursuit of pay and security needs than to decide. From an economic sustainability point of view, if the family has strong capacity to pay, finance and investment channels of relatively small, you can consider using a one-time payment methods to purchase insurance products.

From the security point of view, choose the more cost-effective long-term payment. Insurer to pay the option period if they are purchased health insurance and other insurance, once the heavy toll of those infected with disease during the period, then the insured may pay only a fraction of the total premium or even a few one-tenth, you can enjoy the high insurance. But the payment period is not too long. Must pay a premium after retirement is a very painful thing.