Whole life insurance and annuity insurance are different in nature, so we can't say which product is better. It depends on your needs. If you want to protect your life and leave a fortune to your family when you die in your later years, you can consider whole life insurance. If you want to receive a sum of money regularly as your old-age security in your later years, you can consider annuity insurance. If you haven't bought insurance and don't know which one to buy, you can read this article to find out: There are so many types of insurance, which one should I buy first?
Senior sister sorted out the security content of whole life insurance in the peaceful and prosperous times:
As can be seen from the protection map, this product has a wide insurance age and flexible payment period, which can protect death/total disability. The insured can choose two people, and the effective insurance amount will be compounded by 3.5% every year. It also provides benefits such as insurance relief and flexible access to funds, but there are seven exemption clauses, which are relatively many. Want to know more about this article: whole life insurance has finally arrived, so pay attention to these details.
Annuity insurance means that the insured survives after reaching the agreed age by paying the premium to the insurance company, and the insurance company pays the annuity according to the agreement until it expires or the insured dies/is completely disabled (if any). Annuity insurance mostly appears in the form of education fund and pension. For example, Guangming Huixuan endowment insurance has a guarantee period of 20 years or life after receiving it. The minimum age for women to receive a pension is 55, and for men it is 60. You can also add a common account. The minimum guaranteed interest rate is 3%, which is generally good. If you are interested, you can have a look: Is Guangming Huixuan's pension income high? The answer is in the text. ...
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