Posted by In the U.S. life insurance market, Whole Life (Savings and Dividend Life Insurance) And IUL (Index Universal Insurance) are two types of whole life insurance that can be used as savings investment.
These two types of insurance have performed well in the life insurance market in the United States in recent years.According to LIMRA’s authoritative statistics, in the U.S. life insurance market in 2016,Savings dividend insuranceInsurance premiums increased by 9%, accounting for 34% of U.S. life insurance, and universal insurance (mainly index universal insurance), the premium and number of policies, accounted for two-thirds of the entire U.S. life insurance market.
What is a good savings life insurance
A good savings policy should accumulate the expected amount of savings after many years.Generally, life insurance must be a long-term investment if it is used as a savings tool. Short-term life insurance investment cannot achieve a good savings effect.
If after 15 years or so, the savings account of the policy cannot obtain "net value growth" (meaning that we remove our monthly fee cost and get additional growth), then the monthly fee design of the policy should be problematic, or it is the policy. The design method, or the dividends of the insurance company that manages the policy, has not reached our expected rate of return.
Savings and Dividend InsuranceIn order to avoid an increase in monthly fees in the future, we must increase the savings capacity of the policy and use the interest return to continue to pay all the expenses after getting older.
Many people are shoppingSavings life insuranceAt the time, the choice will be based on the monthly fee, and often this kind of insurance policy will make customers regret it when there is a problem many years later.
American life insurance premiums are still calculated based on the disease and mortality in 2001, and will only change once in 2020. Therefore, it will not be very different for different companies;
The real cost difference is in the management cost of the policy, Different companies will have different fees, but these will not affect the obvious difference in monthly fees.
Therefore, when purchasing life insurance, we should take the protection requirements we need as the standard, and should not simply choose from the high or low monthly premium price.At the same time, the design of the monthly fee should be comprehensively considered based on the individual's specific ability and the investment form of the insurance policy.
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