fanxin
by on October 19, 2023
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When you buy insurance, you hear a lot about annuities, pensions, and the like. When you buy insurance for your children, you also hear about education insurance.

Many people can not distinguish between corporate annuity insurance, education, 廷期年金,pensions to carry out in the end or there are some what can be the difference, today the master of the insurance will take you to find out.

First, what is annuity insurance?

Annuity insurance is mainly based on the survival of the insured as a condition of payment, according to the agreed time interval to pay survival insurance benefits in installments. Because this kind of payment is usually made in a certain amount on an annual basis, it is called annuity insurance.

The four basic types of insurance we often refer to include critical illness insurance, medical insurance, accident insurance and life insurance. In fact, the four main types of insurance are categorized into three types: health insurance and health insurance based on Medicare, and accident and life insurance.

Which of the above categories does an annuity insurance company fall under one? In fact, the corporate annuity insurance system does not belong to any of our three categories above, but rather it is a family of its own, and it is called annuity insurance.

And this annuity insurance includes what we often call annuity insurance, pension, education pension and so on.

What are the types of annuity insurance?

1、Personal pension insurance

Pension insurance is a kind of annuity insurance for the purpose of pension insurance. The annuitant can choose to pay in a lump sum or in installments.

If the annuitant dies before reaching the age agreed in the insurance contract to pay the insured person's survival benefit, the insurance company will return the accumulated benefit (with or without interest) or the cash value, which is determined by calculating the larger amount.

During the accumulation period, the annuity recipient can carry out the termination of the labor insurance company contract to receive the refund.

2、Term Annuity Insurance

Regular annuity insurance refers to the period agreed in the contract, the insured person survives, the insurer shall pay the agreed annual amount on time; the expiration of the period or the death of the insured person within the agreed period of time, the insurer stops paying (whichever occurs first).

Compared with life annuity insurance, the distinguishing feature of term annuity insurance is that annuity payments are limited to a certain number of years.

Education funds fall into this category. Parents, as policy holders, insure their children's education fund when they are young. When their children reach the age of 18, they receive the education fund from the insurance company as a way to go to college, and will not pay the tuition for further education until the coverage period expires.

3、Joint Annuity Insurance

Joint annuity insurance is where the insured has two or more annuities and the annuity payments continue until the death of the last person. There are two main types of insurance: joint and last survivor annuities and joint survivor annuities.

A joint and last we survivor annuity is a policy where two or two through more people in the same policy continue to pay annuities as long as they themselves still have is one person surviving, and it does not stop until after the death of the last person to form an insured. It is very widely available for a couple and a family with a child who is a permanently disabled member of the business can purchase.

Joint and final survivor annuities can be purchased as lump sum spot annuities or as installment deferred annuities.

A joint life annuity is an annuity that provides a certain amount of money under the condition that two or more people named in the contract live together. If one of the insured dies, the annuity will cease to be payable, so joint survivor annuity policies will be relatively inexpensive and have a limited market.

Joint life annuities are mainly insured by cohabiting couples. Because after a certain period of time, mostly after the husband's retirement, the original financial income can only sustain a person's life, so the insurance Joint Survival Annuity Insurance can supplement the lack of living expenses.

4、Variable annuity insurance

Variable annuity insurance is a commodity that combines the characteristics of annuity and variable annuity insurance. The cash value of the policy and the amount of annuity benefits vary with investment performance.

During the period of inflationary development, variable annuities came into being in the 1950's in order for us to deal with inflation, as the rising price levels in our country were decreasing the purchasing power of the money market for fixed annuities.

This is an insurance company that credits premiums to a special account, invests primarily in publicly traded securities, and distributes investment dividends to the annuity policyholder, who bears the investment risk, and the insurance company, who bears the risk of changes in mortality and expense ratios.

For the policyholder, purchasing this type of insurance product not only provides a protection feature, but also a high refund at the expense of assuming a high level of risk.


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Posted in: Education
Topics: insurance
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