There are many insurance products on the market, but theline still outstanding and outstanding. So what are the most prominent features of life insurance products combined with financial investment?
According to the Insurance Supervision Administration, as of September 2018, investment-linked insurance accounted for the largest proportion, reaching 60.01% of total new premium revenue. The number of new policies of investment-linked insurance is leading with 807,277 contracts (accounting for 48.4%). From there, it can be seenproducts combined with investment are very attractive. Let’s find out the highlights of this product!
1. Protected and invested at the same time
Are you young, do you like experiences and challenges, or do you want to invest to increase your wealth quickly but worry that you don’t have a backup savings for unexpected risks in the future? So only investment-linked life insurance products can satisfy both of your needs, because the premium paid to investment-linked insurance products is divided into two separate parts, which is the insurance part. and investment section. Then you have peace of mind to invest profitably to realize big goals in the future, while ensuring your financial ability against unforeseen risks.
2. Low fee, high protection value
Although combining all three elements of protection, savings and investment in one contract, investment-linked life insurance focuses on protection and investment.
Moreover, this is the product line with the longest protection period, which can be up to 99 years old, so the premium is quite low but the protection value is high. For example, customers participating with a fee of about 10 million – 15 million have a totalup to 1 billion, or a fee of 25 million – 30 million with a total protection benefit of up to 2 billion.
3. Flexibility to increase or decrease the premium
Customers only have to pay a fixed fee for the first 3 or 4 years (depending on the product of each company) and then can flexibly pay more or less according to their needs and financial capacity at the time. there. If the family’s economic situation is difficult, you can reduce the fee and when the family’s income is better, you can completely increase the fee or pay one time, which is very flexible for all subjects.
4. Flexible withdrawal
In the process of participating in insurance, if you have financial difficulties or need money to fulfill your goals such as buying a house, buying a car, going to college, needing business capital, etc., you can completely submit a request. in writing to the company to withdraw money or borrow money from the Contract Account Value, provided that after the first 02 or 03 years of the contract, the fee is paid regularly. You can withdraw up to 80% of the Contract Account Value. In case of withdrawal from the Value of the Extra Closed Account, you are free to withdraw and still keep the Protection Value of the contract.
5. Flexible investment
In addition to the fixed monthly premium to ensure basic insurance benefits, customers can flexibly pay extra money to invest to increase their savings benefits and enjoy attractive interest rates. In addition, insurance companies often have many investment funds for customers to choose according to their needs and risk tolerance level with each different investment portfolio. At the same time, according to the change of investment needs and market fluctuations, customers can flexibly convert the investment amount between investment funds to achieve the highest interest rate.
6. Transparent and clear investment information
With universal life insurance products,commits to the investment interest rate throughout the contract term. Depending on the product of each company, usually the committed interest rate is from 4% – 6% in the first years and gradually decreases in the following contract years. Thus, regardless of the company’s business results, the company still commits to pay an interest rate not lower than the committed interest rate.
With unit-linked insurance products, investment fund information such as fund unit value, investment objectives and investment channels of each fund, level of risk and expected return, operational reports The activities of unit-linked funds are disclosed and transparent on the company’s website from time to time.
Life insurance products combined with investment bring comprehensive financial solutions for all subjects and all needs of protection, savings and investment, especially for young customers with many plans and goals. big goals to be accomplished in the future.