Main categories of life insurance products
Life insurance
Life insurance is referred to as life insurance. Life insurance with the life of the insured as the insurance subject and the life, total disability, or death of the insured as the payment condition.
1. Term life insurance
Term life insurance is life insurance that pays for the death of the insured within the agreed period. Usually, there is no saving function, so the premium per unit of insurance is lower.
2. Whole life insurance
Whole life insurance is irregular death insurance. Whenever the insured dies during the validity period of the insurance, the insurer pays the insurance money according to the contract. Whole life insurance has a cash value that can be disposed of by policyholders in several ways.
3. Endowment insurance
Endowment insurance not only promises to pay death insurance benefits when the insured dies within the insurance period but also promises to pay survival insurance benefits when the insured survives within the insurance period.
4. Annuity Insurance
Annuity insurance is a contract signed between the insured and the insurance company. The insurance company regularly pays the agreed insurance money on the condition of the life of the annuity recipient. risk.
V. Participating Insurance
Participating insurance is a large type of insurance relative to non-participating life insurance, in which the policyholder can share the distributable surplus of the insurance company. Insurance companies return part of their profits to policyholders based on the actual operating conditions of each policy year. The characteristics of participating insurance are: sharing business results and sharing business risks.
6. Investment-Linked Insurance
Investment-linked insurance is a life insurance product that includes insurance protection functions and has at least a certain asset value in one investment account.
7. Universal life insurance
Universal life insurance products generally divide the insurance premiums paid by policyholders into two parts, one part is used to buy life insurance; the other part is based on the length of product payment time and past payment records to collect initial fees, ongoing fees, and issue continuous payment incentives, deducted The payment amount after the fee goes into the investment account, and the accumulated amount in the investment account can be converted into the purchase of insurance by consumers at their discretion.
Health insurance
Health insurance refers to the insurance paid by insurance companies to the insured due to health reasons or medical behaviors, mainly including medical insurance, disease insurance, disability income loss insurance, nursing insurance, and medical accident insurance.
1. Medical Insurance
Medical insurance refers to the insurance that protects the insured’s medical treatment and rehabilitation following the insurance contract.
2. Sickness Insurance
Sickness insurance refers to the insurance that protects the insured when the disease stipulated in the insurance contract occurs.
3. Disability income loss insurance
Disability income loss insurance refers to insurance that provides insurance for the reduction or interruption of the insured’s income within a certain period of time-based on the loss of working ability caused by the disease or accidental injury as stipulated in the insurance contract.
4. Nursing Insurance
Nursing care insurance refers to the insurance that protects the insured’s nursing needs caused by the impairment of daily life ability by the insurance contract.
5. Medical accident insurance
Medical accident insurance refers to the insurance that protects the insured when medical damage that cannot be attributed to the responsibility of medical institutions and medical personnel occurs by the insurance contract.
Accident insurance
Accidental injury insurance is insurance that the insurance company pays the insurance money according to the contract when the insured dies or becomes disabled due to an accidental injury during the insurance period.
ICBC-AXA Life recommends that you:
Rationally choose insurance products and services that meet your protection needs, prevent consumption risks, and share a better life.
