There are many options for the insured or the insured to choose from in life insurance, such as insurance coverage and payment period. How to choose?

Personal insurance is mainly divided into traditional insurance and new insurance:

First, there are many kinds of traditional life insurance products, but they can be divided into life insurance, personal accident insurance and health insurance according to the scope of protection.

1. Life insurance can be divided into term life insurance, whole life insurance, endowment insurance and annuity insurance, and health insurance can be divided into sickness insurance, medical insurance, disability income loss insurance and nursing insurance. Among them, annuity insurance is named because it adopts the form of annual periodic payment in insurance payment. In practice, annuity insurance also has various forms such as quarterly payment and monthly payment. Endowment insurance can provide the insured with the funds needed for providing for the aged, while education annuity insurance can provide the necessary financial support for children's education.

At the same time, consumers may find it difficult to choose between personal accident insurance and term life insurance. In fact, the two are very different.

2. First of all, accidental injury insurance covers the death caused by accidental injury and does not cover the death caused by illness. These two causes of death belong to the insurance scope of term life insurance.

Secondly, accidental injury insurance covers the disability caused by accidental injury, and pays insurance according to the degree of disability. Some term life insurance does not include disability liability, others include disability liability, but only includes the degree of disability in life insurance and the most serious first-class disability in the insurance payment ratio table. Finally, accident insurance generally has a short insurance period, mostly one year or less, while term life insurance generally has a long insurance period, which can be five, ten, twenty or even longer.

Two, the new investment insurance, mainly including dividend, universal, investment-linked three types.

1. Dividend insurance refers to life insurance in which the insurance company distributes the surplus of actual operating results superior to the pricing assumption to the insured in a certain proportion. Compared with ordinary products, dividend-paying products have increased dividend-paying functions. However, it should be noted that its dividend is not a fixed capital preservation, and the dividend level is directly related to the operating conditions of insurance companies. Generally speaking, in the years when the insurance company is in good operating condition, customers may get more dividends, but if the insurance company is in poor operating condition, customers may get less or even no dividends.

2. Universal insurance refers to life insurance with insurance protection function and guaranteed investment account, which has the following characteristics:

(1) has both investment and security functions. Part of the premium is used to provide risk protection such as death. After deducting the risk premium and related expenses, the remaining premium is saved and increased in the investment account.

(2) Flexible and transparent. Generally speaking, after paying the first premium, the insured can pay the premium irregularly and irregularly. At the same time, unlike ordinary life insurance products and dividend insurance, insurance companies clearly price the fees charged to policyholders.

(3) High flexibility and adjustable insurance coverage. Account funds can be withdrawn flexibly under certain conditions. The insured can increase or decrease the insurance amount according to the contract.

(4) Usually set the minimum guaranteed interest rate and settle the investment income regularly. This kind of products provide minimum income guarantee for investment accounts, and can share the investment return above the minimum guaranteed income with insurance companies.

3. Investment-linked insurance refers to life insurance with insurance protection function and certain asset value in at least one investment account. It has the characteristics of the first and second items of universal insurance, but there are also differences. Investment-linked insurance has high flexibility and account funds can be freely converted. Because investment-linked insurance usually has multiple investment accounts, and different investment accounts have different investment strategies and investment directions, the insured can allocate the investment premiums to different investment accounts according to his own preferences, adjust the proportion of funds allocated between different accounts according to the contract, and withdraw funds from the investment accounts at any time.

In addition, investment-linked insurance usually does not set a minimum guaranteed interest rate. Investment income can be reflected by the fluctuation of account price. At present, insurance companies in China usually publish account prices at least once a week. Therefore, if a specific investment account is not working well, or fluctuates with the stock market, the investment income from investing in this investment account may be negative.

Life insurance is an insurance with life and body as the subject matter. When people suffer from unfortunate accidents or lose their working ability, disability, death or retirement due to illness or old age, according to the insurance contract, the insurer pays insurance money to the insured or beneficiary to solve their financial difficulties caused by illness, disability, old age and death. Life insurance is under the socialist system. Life insurance is one of the forms of material security for workers when they encounter unfortunate accidents, lose their ability to work or their families die.

The life insurance fund uniformly used by the state is established by the insured paying the fees on time. Personal insurance is also a special form of organizing residents' savings. When the insured reaches the age stipulated in the insurance contract, the state gives him some money and so on. Personal insurance can be divided into voluntary insurance and compulsory insurance according to the form of insurance; According to the nature of personal danger, it can be divided into personal insurance and accidental injury insurance.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.