Single payment in insurance actually means that when we purchase insurance, we pay all the premiums at once.

It should be noted that there are many types of insurance, but not every insurance is suitable for single payment.

For example, if you purchase protection insurance in order to obtain comprehensive protection, you do not need to choose the lump sum payment method. You can choose monthly payment, annual payment and other periodic payment methods to pay, so that you can get comprehensive and high coverage with less premium expenditure.

amount of protection.

Among financial savings insurance products, such as short- and medium-term savings, they are intended to bring a certain amount of added value to yourself or your family's economy. If your financial situation permits, you can choose to pay in a lump sum.

For insurance companies, the one-time payment method we choose is relatively more profitable.

However, based on the service quality of insurance, when the policy holder pays the premium, the appropriate payment method will still be recommended based on the actual situation of the policy holder. For short-term insurance, such as accident insurance, the premiums are generally low, so you can choose to pay individually.

However, for many individuals or families with average financial status, although the premiums paid for single payment will be relatively small, single payment requires a large amount of money at one time, which is a huge sum for people with average financial status.

The expenditure is small, so choose the payment method according to different situations, so that you can better utilize the leverage function of insurance and obtain the highest amount of protection at the most reasonable expense.

Insurance means that the policy holder pays insurance premiums to the insurer in accordance with the contract, and the insurer assumes the liability for compensation for property losses caused by the occurrence of possible accidents stipulated in the contract, or the death, disability, or disability of the insured.

A commercial insurance act that assumes the responsibility of paying insurance benefits when the insured becomes ill or reaches the age, term and other conditions specified in the contract.

From an economic point of view, insurance is a financial arrangement for sharing accidental losses; from a legal point of view, insurance is a contractual act, a contractual arrangement in which one party agrees to compensate the losses of the other party; from a social point of view, insurance is a social

An important part of the economic security system is an "exquisite stabilizer" of social production and social life; from the perspective of risk management, insurance is a method of risk management.

Commercial insurance can be roughly divided into: property insurance, personal insurance, liability insurance, credit insurance, subsidy insurance, and marine insurance.

Large categories are classified according to insurance coverage, and small categories are classified according to the type of insurance subject matter.

According to the scope of insurance coverage, it is divided into: personal insurance, property insurance, liability insurance, and credit guarantee insurance.

1. Fire insurance covers losses caused by fire to property stored on land within a certain geographical range and basically in a stationary state, such as machines, buildings, various raw materials or products, household appliances, etc.

2. Marine insurance is essentially a kind of transportation insurance. It is the earliest type of insurance among all types of insurance business. The insurer is responsible for the loss of the insured subject caused by maritime dangers.

3. Cargo transportation insurance is cargo transportation insurance other than maritime transportation. It mainly covers losses incurred by goods during inland, river, coastal and air transportation.

4. Various means of transportation insurance mainly covers losses incurred by various means of transportation during driving and parking.

Mainly including automobile insurance, aviation insurance, ship insurance, and railway vehicle insurance.

5. Engineering insurance covers all accidental losses and third-party personal injuries and property losses during various projects.

6. Post-disaster benefit loss insurance refers to the insurance in which the insurer assumes liability for various intangible benefit losses that may occur after the property suffers an insured accident.

7. Theft insurance covers property losses caused by robbery or theft by thieves.

8. Agricultural insurance mainly covers losses caused by natural disasters or accidents to various crops or cash crops and various livestock and poultry.

9. Liability insurance is insurance that takes the insured’s liability for civil damages as the subject of insurance.

Regardless of whether an enterprise, group, family or individual, in carrying out various production and business activities or in daily life, causes damage to others due to negligence, negligence, etc., the financial compensation liability borne by the victim according to the law or contract can be in

After purchasing relevant liability insurance, the insurance company will be responsible for compensation.

10. Public liability insurance covers the insured’s legal liability for personal injury or property damage caused by others.

11. Employers’ liability insurance covers the employer’s financial liability for personal injury or death of employees in accordance with the law or employment contract.

12. Product liability insurance covers the insured’s liability for compensation resulting from personal injury or other losses to consumers or users due to defects in the products manufactured or sold.

13. Professional liability insurance covers the liability of doctors, lawyers, accountants, designers and other freelancers for personal injury and property damage caused by negligence at work.

14. Credit insurance is insurance in which the party entering into a contract requires the insurer to bear the credit risk of the other party to the contract.

15. Guarantee insurance is insurance in which the obligor is the guaranteed person and the insurer is required to guarantee the performance of obligations to the obligee in accordance with the provisions of the contract.

16. Term death insurance is an insurance whose benefits are conditioned on the death of the insured during the insurance period.