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How to design the insured amount and premium?
The design of American insurance will definitely determine your physical condition and your insurance level based on your gender, age, and finally through a physical examination.
ToAmerican Life InsuranceIn terms of review, buyers are mainly reviewed from two aspects:
The first is the health of your body. Through physical examination and review of past medical records, you can determine whether your physical condition is suitable for coverage and the level of coverage.
The second is to look at financial and economic capabilities. Life insurance has the same principle as other insurances, that is, the value of what is insured depends on its value.For example, if a car is worth 5 U.S. dollars, the United States will definitely not insure 8 U.S. dollars, because the moral hazard will become very large, and the car may be deliberately destroyed and the insurance company may receive compensation.Insurance companies will not do such a thing, and the same is true for people.
So roughly speaking, buying life insurance means looking at different things.Body and worth
那麼購買者每年的收入的狀況，就是保險公司衡量提供保額的標準。對一個20歲的人來說，保險公司有可能給的保額是年收入的30倍。30歲-40歲之間，可能會是年收入的25倍。40歲-50歲，可能最多只給年收入的20倍。50歲-60歲可能只給15倍。60歲以上，最多是年收入的10倍。
Then someone asked, if I don’t have a job, can I not buy American insurance?of course not.At this time, it will look at the asset situation. If there are 1000 million assets, the maximum insurance company may give is 1000 million.
It can be seen that the size of the amount of insurance purchased in the United States is determined according to your annual income ability or the size of your assets.
After fixing the insured amount, you can calculate how much premium you need to pay each year based on a specific age and specific physical condition.The premium is the price recommended by the insurance company.
But currently popular in the U.S. marketIndex insurance, Which is not available in Asian countries, is a type of insurance that guarantees the bottom and the top based on the performance of the index.In addition to the unique feature of lower guarantee and upper cap, this kind of insurance has another characteristic of flexibility. The premiums to be paid each year have a very large range.The recommended price of the insurance company is basically equivalent to the median price, but it still has the lowest and highest premiums to choose from.
The minimum premium is that if my financial situation this year is relatively tight or I have better investment channels, I can choose to pay the minimum amount to ensure the operation of the policy.Or this year's economy is particularly loose, you can pay the price recommended by the insurance company, and at the same time you can pay about twice the premium.Putting more money into the policy will correspondingly increase the cash value of the policy and the insured amount, as well as shorten the payment period.
The maximum premium is set by the Internal Revenue Service of the United States. Before 1984, many relatively wealthy American families would put large sums of money into insurance. The main reason was that insurance had a huge tax saving function and was also a very stable product with a long-term return rate of about 7%.Later, the US Internal Revenue Service discovered this loophole. After 1984, it stipulated the maximum amount of money in an insurance policy each year.If the maximum limit is exceeded, the corresponding tax concessions will be reduced.This is also the main reason why the insurance policies of the Mainland and Hong Kong in the United States may not meet the American definition of insurance, and the tax concessions will also be lost.
How many years does the premium have to be paid?
After the insured amount, age, grade and premium of an insurance are fixed, how many years will the premium be paid?
Generally speaking, we think it takes at least 10-20 years.However, the return of index insurance in the United States is uncertain, so the amount of insurance premiums to be paid and the period of payment have become uncertain.
At this time, you need to supervise the policy very carefully. If the market returns well, the time to pay may be shortened. If the market is down for a long time, the policy may take longer to pay.
In addition, in addition to the premium, there are two values in an insurance policy, one is the sum assured and the other is the cash value.
For example, the U.S. insurance rate of return is around 7%. Instead of paying 5 yuan in premiums this year, there will be a return of 3500 yuan this year.Each insurance policy also has a series of costs to maintain the basic operation of the policy.
OnAmerican InsuranceThere are mainly several parts of expenses. The first is the security deposit levied by the state government on insurance, and the second insurance company also has management expenses and marketing expenses.After deducting all kinds of expenses, you can invest and connect with the US S&P 500 index.
Basically, it will take around 10-12 years for the cash value of the policy to grow at the same level as the premiums paid. After 10 years, the entire cash value will grow very fast.This part of the cash value is your own money and can be used at any time.However, it is generally recommended not to use it in the first 10 years. Of course, it is excluded from use in emergency situations.If you have extra money, you can make up for it.
Finally, for example, for a 45-year-old woman, the purpose of the policy is to obtain retirement protection. The design is designed to pay for 15 years, and after 16 years, she will start to receive the cash value.Then the insured amount is 300 million, the annual premium is more than 4, and a total of more than 15 premiums need to be paid in 60 years.Starting from the 16th year, he can receive a pension of 10 yuan per year, and he can receive it until he is 120 years old.Of course, if you pass away at any age in the middle, the cash you receive for death claims is tax-free. At the same time, according to the different ages of the death, different insurance coverage can be given to your family.If calculated according to the annual return of 6.9%, the total amount received may be about 6-8 times the amount of premiums paid.
Doubled and tax-free returns are rare in all investment products.
Summary: The above content mainly talks aboutAmerican InsuranceHow it works is to design insurance policies according to the different needs of buyers, different economic conditions, and different ages.Therefore, for an insurance policy, the policy is just the beginning. The later supervision of the policy and the design of the policy, how to receive it, how to receive the maximum amount, etc., all have a series of considerations.This requires very professional people to plan.
