Benefits of voluntary retirement insurance that everyone should know


Buying voluntary retirement insurance is the best way to ensure financial security in old age, but besides that, it also brings many other practical benefits to participants.

Voluntary retirement insurance is a life insurance product implemented by an insurance enterprise to provide additional income for the insured at the end of their working age.

The policyholder and the insurance company actively agree to sign a contract with appropriate premiums and benefits but still have to ensure basic insurance benefits including periodic retirement benefits and other benefits. accident insurance.

On the basis of the policyholder paying the premium, the insured starts receiving retirement benefits when reaching the age agreed upon in the insurance contract, but not less than 55 (fifty-five) years old for women and 60 (sixty) years old for men.

Benefits of voluntary retirement insurance

Benefits of joining voluntary retirement insurance

1. Financial independence in old age with periodic retirement benefits

Retirement benefits are paid periodically until the death of the insured or for a minimum of 15 (fifteen) years, depending on the agreement in the insurance policy. The level of retirement benefits is agreed upon and clearly stated on the insurance contract. In addition, the unpaid retirement benefits will be charged interest at an interest rate not lower than the minimum committed investment interest rate agreed on the insurance contract.

Accordingly, with a periodic allowance, participants will certainly have an old age pension when they are unable to make money without having to rely on or depend on their descendants. Old age means that health is getting worse and worse, the possibility of illness is higher, so the pension will help the elderly to be independent and have the best health care conditions.

Many people even save money to fulfill wishes that they could not fulfill when they were young. It’s going to the places you like with your companion, joining clubs, opening a small coffee shop

In addition, for those who unfortunately fall into a situation of lack of attention and care for their children and live alone, the amount from their periodic retirement benefits helps them choose the best nursing home to be elected. you and happy old age.

Benefits of voluntary retirement insurance 1

2. Peace of mind with risk insurance benefits

Saving early for retirement is the right decision, but no one can guarantee that nothing will happen in the process, so voluntary retirement insurance is the best option. Because besides periodic retirement benefits, funeral benefits, death or total permanent disability insurance benefits are still guaranteed.

Thus, the participant’s unfortunate death or total permanent disability will be paid by the insurance company the corresponding benefits as agreed in the contract to help the participant and his/her family reduce their financial burden. during the most difficult times.

In addition to the main insurance benefits mentioned above, participants are entitled to choose one or more supplementary insurance benefits such as Medical Care Benefit; Benefits for hospitalization support, Critical illness insurance benefits; Insurance benefits for dependents… to increase health care benefits against the risks of illness and disease.

3. “Standards” for children and grandchildren

With a voluntary retirement insurance package, participants are not only protected against risks and saved for retirement, but also have a way to accumulate finance when they are young so that when they get old, they can make “savings”. for descendants. The remaining amount of savings is like a meaningful gift that parents want for their children, grandparents want to give to their grandchildren with the main desire to bring spiritual value.

As a product of the type of life insurance, voluntary pension insurance is not only an alternative source of income when it is no longer able to make money when it reaches the age of no longer able to make money, but also a financial fund to ensure against risks and care. best health for participants.

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