Advantages and disadvantages of the old version of Corning Whole Life Insurance

Advantages: It can be attached with double life insurance, hospitalization medical insurance, and conversion annuity insurance, which makes the protection more comprehensive; the main insurance covers a wide range of diseases, including 100 types of critical illnesses + 50 types of minor illnesses + 21 types of specific illnesses (7 types each for children/male/female), and there are also death and total disability protection. Disadvantages: As a whole life insurance, minor illnesses are not grouped, and are only compensated once, and only 20% of the basic sum insured; because critical illnesses are also only compensated once, if critical illnesses are compensated, the insurance contract is terminated, and the insured cannot continue to enjoy the protection.

I, insurance (Insurance or insuraunce) is (under the conditions of the market economy) the basic means of risk management, is an important pillar of the financial system and social security system [1], but also a way to meet the conditions of the contract (contractually agreed upon the possible occurrence of accidents due to the occurrence of the property damage caused by the liability to pay compensation for the insurance premiums, or the death of the insured, Disability, disease, or the insured person's death, disability, illness, or to meet the contractual conditions of age, duration, etc.) the insurer pays the insurance premium to the insured.

Insurance, economically, is a financial arrangement to share the loss of an accident, legally, is a contractual behavior in which one party agrees to compensate the other party for the loss, socially, is an integral part of the social and economic security system, and risk management is the basic method.

Two, commercial insurance can be broadly categorized into: property insurance, personal insurance, liability insurance, credit insurance, allowance-based insurance, marine insurance. Large categories are categorized according to the scope of insurance coverage, and small categories are categorized according to the type of insurance subject matter.

In accordance with the scope of insurance coverage is divided into: life insurance, property insurance, liability insurance, credit guarantee insurance.

Three, fire insurance is to underwrite the land stored in a certain geographical area, basically in a stationary state of property, such as machinery, buildings, various raw materials or products, household appliances, etc. due to fire damage.

Four, marine insurance is essentially a kind of transportation insurance, it is all kinds of insurance business in the development of the earliest kind of insurance, the insurer of the marine peril caused by the loss of the subject matter of the insurance liability.

V. Cargo insurance is a kind of insurance for the transportation of goods other than marine transportation, which mainly covers the loss of goods in the process of inland, river and coastal transportation as well as air transportation.

VI. All kinds of means of transportation insurance mainly covers the loss of various means of transportation in the process of driving and parking. Mainly includes automobile insurance, aviation insurance, marine insurance, railroad car insurance.