What is the function of traditional insurance?

Traditional life insurance (term life insurance): It is also the earliest life insurance. It is a life insurance with the death of the insured within the agreed period as the payment condition, also known as periodic death insurance, and the agreed period is the insurance period. Traditional life insurance (term life insurance): It is also the earliest life insurance. It is a life insurance with the death of the insured within the agreed period as the payment condition, also known as periodic death insurance, and the agreed period is the insurance period. Characteristics of term life insurance: low premium, no need for physical examination to extend or change the insurance period.

Term life insurance is suitable for people, such as the main source of family income or people who are repaying loans. Although insurance plays a certain role in reasonable tax avoidance, not all insurance can avoid tax. In fact, only traditional guaranteed life insurance products can avoid debts and avoid taxes, while universal insurance, investment-linked insurance, accident insurance and other insurance products can not achieve this goal. Moreover, in terms of evading inheritance tax, it is necessary to specify the beneficiary when insuring.