WHAT ARE THE HIGHLIGHTS OF ANNUITY INSURANCE?

WHAT ARE THE HIGHLIGHTS OF ANNUITY INSURANCE?

High security

 Annuity insurance is very safe. The annual annuity paid by the insurance company and the final payment of the universal account is written in the contract terms, which is very safe. Each insurance company is responsible for the guarantee of the reserve withdrawal system. Even if the insurance When a company goes bankrupt or goes bankrupt, the rights and interests of annuity insurance purchased by everyone are still protected. Moreover, in our country, establishing an insurance company is very strict. Similarly, it is not easy to go bankrupt or go bankrupt.https://cooldrawingidea.com/line-drawing/

Strong stability

 The payment and receipt of annuity insurance are carried out according to the contract terms. Because annuity insurance is long-term, it is suitable for old-age pensions or education funds for children. After retirement, it can guarantee a stable pension or make children’s education more secure.

 Insurance annuity insurance, to determine wealth safety, to determine wealth appreciation, to determine the use of wealth, to determine wealth distribution, to ensure that wealth is not affected by marriage and debt disputes, the function of annuity insurance is to make these determinations sure.WHAT ARE THE HIGHLIGHTS OF ANNUITY INSURANCE?

Support policy loan

 Another function of annuity insurance is the policy loan. If you encounter financial problems, you can apply for a loan with the policy. Generally, the maximum loan amount can reach 80% of the policy’s cash value. The benefits of the policy are still valid during the loan period. Effectively alleviate the problem of financial constraints.

What are the disadvantages of annuity insurance?

 No one is perfect, and neither is insurance. Therefore, annuity insurance also has its shortcomings, which are as follows:

Higher premiums

 At present, the annuity insurance on the market ranges from tens of thousands to tens of millions. For an ordinary family, it is still challenging to spend hundreds of thousands to buy insurance. Therefore, the insurance premium threshold of annuity insurance is relatively high, and it is suitable for people with a sufficient budget to purchase insurance.

Weak security function

 Most of the annuity insurance on the market today cannot provide additional protection for critical illness, medical treatment, etc., and generally provide death protection. Death liability is the money that can be obtained at the time of death. Different annuities have different regulations on death liability. Some pay premiums, and some pay cash value. In short, the protection function of annuity insurance is relatively simple. Therefore, it is recommended that you prioritize protection-type products, such as critical illness insurance, accident insurance, medical insurance, life insurance, etc., and then consider configuring annuity insurance if you still have a budget after the primary protection is improved.

 Annuity insurance has its bright spots as well as its shortcomings. Whether or not to buy it depends on the individual’s situation. Some people buy annuity insurance as a perfect guarantee, while others can only buy it to increase the burden on themselves. Of course, if you have spare money, buy some annuity, no matter what your future is like, 

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