Read the first book to understand investment and financial management

Chapter 14 Insurance and financial management, paying for the life of yourself and your family (2)
When buying goods, people often like to shop around, because by shopping around, you can really buy affordable, and the same should be true when buying insurance. Shopping around is very important.Now, the terms and rates of insurance sold by any insurance company must be approved by the insurance regulatory department, but even so, as long as the policyholder makes a comparison carefully, he will find that even the same insurance , Different insurance companies have many differences in terms of payment, insurance protection, insurance collection and insurance compensation methods.For example: it is also critical illness medical insurance, some insurance companies cover as many as 30 serious diseases, some insurance companies only cover a few dozen serious diseases, and some insurance companies will protect policyholders Old age, and some will only be guaranteed until the age of 65, but if you want to talk about the insurance premium paid, it is not bad.Some policies will pay back the principal after maturity, while others will not refund a penny.For these, the policyholder must understand and clarify when applying for insurance.To choose insurance according to your actual situation, you must not buy any kind of insurance blindly.It is necessary to find out which insurance company has the cheaper premium for the same type of insurance, has a wider scope of coverage, and has a longer duration of insurance, so that you can apply for insurance according to actual needs.Don't be afraid that the policyholder has already received the insurance policy, and he is not quite clear about the relevant content contained in the insurance.

[-]. Be assertive in purchasing insurance and avoid following trends
When buying insurance, some people think that only the insurance purchased by others, especially the insurance purchased by many people, will definitely not be useless and bad insurance.In fact, this is a completely wrong understanding. Even if this kind of insurance is suitable for more people, it does not mean that it is also suitable for you.But in real life, there are many people like this. When they see an insurance product from a certain insurance company and there are a lot of people buying it, they will follow in a swarm to buy it.What will be the final result of this?Most of the time, when you buy the insurance and encounter a dangerous situation and really need the insurance to come in handy, you will find that the insurance you bought is not what you expected and what you want when you compare the scope and terms of the insurance you bought. What I needed, I paid for it myself, but what I bought was regret medicine that disappointed me.In fact, policyholders must have their own ideas when buying insurance, and must not blindly listen to other people's words or follow suit.Because, after all, everyone's situation is different, so there will also be many differences in insurance needs.Therefore, when the policyholder buys insurance, he must not see that others buy it and he also buys it. If he insists on following suit, he may end up spending a lot of money and regret it.

[-]. Clarify the terms and conditions of insurance purchases, so as not to listen to misleading information
For any insurance, it is not a panacea for insurance protection after an accident, even "universal insurance" is not all-encompassing.Therefore, before applying for insurance, the policyholder must know how to prevent the misleading situation of individual insurance company salesmen, because empty words do not bear any legal responsibility.When insurance company salesmen sell insurance, they often talk about the benefits of the insurance they want to sell in an exaggerated way, aiming to arouse people's interest in buying, so that they can buy the insurance they sell. Why insurance company salesmen do this is very clear. , I hope to sell more of my own insurance.Therefore, the policyholder cannot fully believe what the insurance salesman said before buying the insurance. He must personally go to research the insurance liability of the insurance company in the terms of the insurance policy and what exemptions the insurance company has. How wide is the scope of liability covered by this insurance, how to pay for it, how much benefit you can get, and so on.At the same time, for some too professional insurance clauses that you can't understand, if the policyholder can't figure it out, the best way is to ask the relevant people of the insurance company for advice and help. in principle.Only in this way can the insured make a final decision on the choice of this insurance, so that the insured can really choose a good and satisfactory insurance that suits him.

[-]. The purchase of insurance must be suitable and avoid impulsiveness

Buying insurance is like buying shoes. Only those that fit your feet and are comfortable are the most suitable for you.And to buy impulsively, if many people think that they need some insurance, they will quickly buy that insurance, but they don't think much about other issues, so the result is often impulsive and then regretted.For example, I only need it for a period of time, but I buy long-term insurance because of my impulse, so for the policyholder, it must be a waste of money.Therefore, before buying insurance, policyholders must consider which insurance they or their family really need, which insurance is really suitable for themselves and their family, and how long they should buy.For example, if you are worried that you or your family members will not be able to afford the medical expenses once you or your family suffers from a serious illness, you can purchase critical illness insurance appropriately; Buy pension insurance.If the policyholder only buys insurance based on the impulse of his own mind, without considering how much use and protection it will have for himself after buying the insurance, it will often only make the insurance he buys unsatisfactory.

[-]. The purchase of insurance pays attention to protection, so as not to hinder sympathy
The main purpose of buying insurance is to protect yourself, your family or family property, etc. Therefore, when buying insurance, the policyholder must pay attention to what protection functions the insurance he buys has.Some people bought the insurance under the enthusiastic promotion of their acquaintances or relatives and friends who acted as salesmen of the insurance company. Out of sympathy and embarrassment, they bought it by themselves; or, some people thought it was originally their own. The insurance introduced by acquaintances or relatives and friends is definitely not wrong, and you can buy it without reading the insurance terms.If the insurance is purchased under these two circumstances, the buyer will often regret it after the purchase, because this kind of insurance is good, but it may not be suitable for you. Maybe there is not much protection for yourself at all. It’s uncomfortable if you don’t withdraw, and you will suffer a lot of financial losses if you withdraw, and it will be even more uncomfortable if you are not protected if you are out of danger.Therefore, when buying insurance, you must see the terms clearly, only choose protection, and don't pay attention to favors.After all, buying insurance is different from buying clothes. If you don’t like it, you can give it away without wearing it, but you can’t transfer it for insurance.Of course, if the insurance recommended by acquaintances, relatives and friends is suitable for you, then you should buy it without thinking about it. After all, you need it, so why not buy some.

[-]. Consider responsibility when purchasing insurance, so as not to be greedy for cheap

There is a saying that goes well, "You get what you pay for".The same is true for policyholders who purchase insurance. When purchasing insurance, they should not just look at how much money they need to pay for an insurance. Which kind of insurance of the same type can make them pay less, but need to know this insurance. How wide is the protection that you can enjoy, and how big is the responsibility of the insurance.In order to save a few dollars in insurance premiums, some policyholders only buy the cheapest insurance when purchasing insurance. This seemingly "smart" choice will make them regret it and blame themselves after the accident Wrong choice at the time.Because the cheaper insurance at the time of purchase often has a small coverage, especially after an accident, the amount of compensation to be paid will be very small.In this way, if the policyholder only chooses the cheap one when choosing insurance, no matter how serious the "accident" happens to him after he gets out of the insurance, the protection he gets will not be much, and the compensation payment is nothing compared to the loss. No, it can be said that the compensation does not make much sense at all.Therefore, when buying insurance, the policyholder should first consider the protection of the insurance, and then consider the money needed to buy the insurance. Generally, the cost of buying insurance is directly proportional to the compensation, so you must not buy cheap things that are not important. Insurance should be chosen according to the protection of insurance.

Suitability is the best. When purchasing insurance, you should learn more about it, shop around, and consider it comprehensively to choose a good insurance that suits you and will benefit you for a lifetime.

Insurance planning for all stages of life

Every stage of life brings different risks.At all stages of life, you should buy a protection for yourself.The focus of life is different, and the insurance planning at each stage should also be different.

The first stage, insurance planning before adulthood: 0~18 years old.

This is the stage where parents buy insurance for their children.In the early childhood period of 0-8 years old, it is easy to get some epidemic diseases, so it is recommended to buy more medical insurance.

When it comes to teenagers aged 8 to 18, it is more suitable to choose dividend products with short time intervals, which can replace education benefits to a certain extent.Of course, you can also consider universal life insurance with very flexible payment and withdrawal.At the same time, accident insurance and medical insurance at this age are also indispensable.

The second stage, insurance planning for single nobles: 22~28 years old.

Young people who have just stepped into society generally have a certain income, but it may not be high or stable.In terms of consumption, there is often no plan, and it is not easy to save money if you spend a lot of money. There are often situations where there is no large amount of cash available when you need money.Also because of their young age, people have a strong ability to withstand problems such as unemployment and a relatively strong ability to resist diseases.

People who are new to the society plan their money carefully. From the perspective of savings, they can purchase savings and investment insurance such as 5-year and 10-year insurance. While obtaining insurance protection, they can obtain a "saving investment" in disguise.You can also buy consumer-type accident insurance, because the price is cheap and you can get higher protection.

In terms of health, short-term and medium-term hospitalization medical insurance and critical illness insurance are mainly considered.The reason why it is recommended to buy short- and medium-term insurance is because people are still young and have a long life in Japan, and the premiums are cheap, the cost is low, and the protection is high.Savings-type critical illness insurance is cheaper the younger you are, and the health insurance company is easy to accept, and it can also be considered if the situation permits.

The third stage, insurance planning after entering marriage: 28~35 years old.

(End of this chapter)