Since so many people don't understand, Senior Sister will tell you the difference between universal insurance and annuity insurance today!
1. What is universal insurance?
Universal insurance, the complete translation is universal insurance. Like traditional life insurance, it not only provides life protection, but also allows customers to directly participate in the investment activities of the funds in the investment account set up by the insurance company for the insured. The value of the policy is closely related to the performance of the funds in the insured's investment account operated independently by the insurance company.
To put it simply, that is to say, universal insurance does belong to insurance and universal account, and the insured can use the universal account for secondary appreciation.
The most important function of universal insurance is to give the insured the right to pay for wealth management while providing protection. The insured may consider transferring the insurance premium to the universal account for secondary appreciation, or adding the insurance premium to realize the account appreciation.
The advantage of universal insurance lies in its high flexibility, and the insured can decide the value in the account by himself. However, universal insurance has one drawback, that is, the income is not particularly stable, which is related to the investment operation of the insurance company, and the upfront cost will be deducted, and the remaining money can be transferred to the universal insurance account to continue to increase in value.
So who is better to buy universal insurance? It is more suitable for people with higher incomes to buy universal insurance, and those who are suitable for insurance have complete basic protection.
Want to know about friends who buy universal insurance, Sister Xue has compiled a list of universal insurance products for everyone. If you are interested, you can click this link:
"Ten universal insurance stocks worth buying! 》
2. What is annuity insurance?
Annuity insurance means that after the insured or the insured pays the premium in installments or in batches, the insurance company will compensate the premium for one year, half a year, one quarter or one month on the condition that the insured lives, and it will not be terminated until the insured dies or the contract expires.
Annuity insurance mostly appears in the form of pension and education fund, which is mainly used to save a sum of money for the future, and this money can be used as education expenses for children and pension for the elderly.
If the insured is still alive after the agreed age, if he is still alive on every agreed date, he is allowed to receive a sum of money.
If the product you purchased has a guaranteed collection period, and you die unexpectedly during the guaranteed collection period, the remaining unclaimed part will be directly given to the beneficiary; If the collection period is guaranteed, the insurance company will let the beneficiary get the corresponding death insurance money after his death.
Annuity insurance is suitable for a wide range of people. If there is a need for savings funds, both children and the elderly can consider it. As long as it meets the insurance threshold of the selected product, it can be configured.
So what annuity insurance is worth buying? How to choose a good annuity insurance? Senior sister has compiled an article on annuity insurance. Interested parties can have a look:
"Top Ten Annuity Insurance Rankings ▏ Want to buy high-yield annuity insurance? Don't miss this 10 model again! 》
3. What is the difference between universal insurance and annuity insurance?
1. The guarantee liability is different.
Universal insurance is generally life insurance+universal account, but there are other forms of universal insurance. However, what is its specific safeguard responsibility? We also have to look at additional risks, such as life insurance, which is mainly based on the survival or death of the person, and the insurance premium will be paid after reaching the conditions agreed in the contract. What we need to pay attention to is that the universal account allows the insured to participate in investment appreciation.
As far as the guarantee responsibility of annuity insurance is concerned, as long as the conditions for the insured to survive at the agreed age can be met, the insured can of course receive the insurance money, and the contract will be terminated when it expires or the insured dies.
2. Insurance payment methods are different.
If you want to withdraw the amount from the universal insurance account, if you want the insurance company to apply for a part of the value of the policy account, in most cases, you will withdraw it with the universal insurance account. Access to universal insurance is relatively free, and you can add premiums, postpone the payment of premiums, pay sustainable fees, and partially withdraw. If you are in a hurry, you can withdraw it by partial withdrawal. If you plan to pay the premium in the future, you can increase the premium. If it is below the limit, the insurance company can pay the rest of the money.
Let's take a look at the payment method of annuity insurance. It is important to pay according to the agreement. For example, it is ok to pay insurance premiums on an annual, semi-annual, quarterly or monthly basis. When is the date of collection? The applicant or the insured can confirm with the insurance company that the time for receiving the insurance money can last until the death of the insured or the expiration of the contract.
We have made clear the difference between universal insurance and annuity insurance. Do you know what kind of products you want to insure? If you still want to know about the insurance that can manage money, there are other types of insurance that are also very good. If you want to know, please read this article:
What is the difference between dividend insurance, universal insurance and increased whole life insurance? Which is the most cost-effective? 》
Write it at the end
I am an expert in insurance, focusing on objective, professional and neutral insurance evaluation;
If the above content has not solved your problem, you can also come to the official account of WeChat to learn to bully and say that insurance consulting me;
I give you the most professional advice based on many years of experience in configuring insurance for 10W+ families.
WeChat official account: Xueba said that insurance costs less, buy the right insurance!