Xinsheng whole life insurance is a kind of whole life insurance, and whole life insurance is an insurance that pays equal attention to both protection and savings, which has both advantages and disadvantages. The advantage is that the guarantee period is very long, and the disadvantage is that the money can only be withdrawn at the time of death. Early withdrawal means surrender, and there will be some losses.

Whole life insurance is more suitable for young people as the first insurance, because the accumulation period is long, so the premium is relatively cheap. Take Xinsheng whole life insurance as an example. The same insurance coverage is 10000 yuan. For the same 20-year payment, the 55-year-old payment is 568 yuan, while the 29-year-old payment is 284 yuan, which is exactly half. Therefore, whole life insurance and critical illness insurance are more expensive for the elderly. Similarly, for the additional Xinsheng, you choose to pay the critical illness insurance in advance at the age of 55, and the rate is also high. At the same time, you should note that this major illness protection is only paid in advance, not extra. After the occurrence of major diseases, 50,000 yuan will be paid, but the insurance coverage of the main insurance will be reduced by the same amount, only 6,543,800 yuan. So in the end, in fact, you can only get 60 thousand insurance coverage at most. To put it simply, we only look at the main insurance and additional critical illness insurance. The total annual payment is 4,833 yuan, and the payment is 96,660 yuan for 20 years. However, the amount of insurance you can get in the end is only 60,000 yuan, and there is an obvious upside-down situation between the premium and the amount of insurance (that is, the accumulated premium is higher than the amount of insurance you finally get). The amount of insurance purchased by bonus increase insurance has not been calculated. The specific dividend situation can be understood from the salesman. So in fact, the guarantee function is only reflected in the first few years, and your accumulated payment is still small, and the guarantee is higher than your payment. But the later security is very low.

The reason for the above upside-down situation is that the initial cost of the guaranteed products with longer guarantee period in whole life insurance is also higher. (Different types of insurance, different insurance periods and different payment periods have different costs. The specific cost ratio is stipulated by the CIRC, so I won't say much, just give you a simple concept. ) Among them, whole life insurance and term life insurance costs are higher, while pension and annuity insurance costs are lower. Therefore, buying insurance depends not only on whether the plan is comprehensive, but also on the cost performance. Need to compare the premium paid and the protection obtained. If the protection is too low, there is no need to buy insurance. It is more cost-effective to save a sum of money yourself than to put it in an insurance company.

At present, there is less insurance for the elderly in the market, and your father is older. In China, the average life expectancy is around 72 years old, so the risk of being over 70 years old is considerable, and it is definitely quite expensive to buy insurance. But on the other hand, for insurance, it is to make up for the risk. When I was young, I mainly made up for the economic losses caused by accidents at home. So you choose the insurance amount according to your income expectation or family debt, and when you get old, you mainly make up for medical expenses such as illness or get a suitable pension.

So the first consideration is health insurance. From the perspective of critical illness insurance, as mentioned just now, critical illness insurance for the elderly is very expensive. From the perspective of medical insurance, most of the current medical insurance is one-year short-term insurance, so once the medical expenses are used, it may be difficult to renew the insurance. However, some products are better, with a five-year guarantee renewal period, and the guarantee insurance can be renewed in the next five years. But most medical insurance only covers 65 years old at most. For example, Ping An additional health care, hospitalization expenses and medical insurance B are also guaranteed to be 65 years old. It can be seen from the medical insurance chosen by your father that he has social security (A has no social security, B has social security, and the rate and payment ratio are different). Because commercial insurance will deduct the social security premium first when paying the final payment, people with social security will buy it cheaper and pay a higher proportion. At the same time, people with social security should also pay attention to the insured amount when purchasing medical insurance, and don't have to choose too much, otherwise it will be a waste.

Having said that, the conclusion is of course clear. This insurance is actually not suitable. Of course, first of all, you still need to be clear about the purpose of buying, if it is to protect. Both term life insurance and old-age security can meet your requirements, and will certainly be more cost-effective than whole life insurance. There are also short-term accident insurance on the market, as well as insurance for elderly fracture accidents. It is cheaper to buy in the form of a card, and you can choose to buy it separately.

Among them, term life insurance is pure consumption, and the premium rate for the elderly is also very high, so the acceptance of ordinary consumers is not high. However, it is safe and economical, with lower cost and cheaper price than whole life insurance.

Because I am from Xinhua, I am familiar with Xinhua's products. Now I'd like to introduce you to the lucky A of Xinhua, and you can also compare the products of other companies before choosing.

Take your father as an example when he is 55 years old. The longest guarantee period can only be 15 years, that is, when he is 70 years old, the payment period is 15 years. Similarly, the insured amount is 60,000 yuan, and the annual payment is 4,752 yuan. In 2005, it was 65,438+71.280 yuan. The guarantees that can be obtained are:

Death and total disability during the insurance period: 2 times the insured amount+dividend (that is, at least 6.5438+0.2 million guarantee)

Expiration of insurance: 1 times the insured amount+dividends (that is, at least 60,000 yuan can be recovered, and dividends should be basically refundable).

The insured is exempt from paying premiums for accidental death and total disability: if you buy insurance for your father, then you are the insured, and you don't have to continue to pay premiums in case of an accident. This is not an additional risk, it is part of the main risk, and there is no need to pay extra. )

The guarantee in 15 is 1 times higher than that in Xinsheng above, and the principal can be recovered faster. If you are still healthy at the age of 70, there is no need to buy other insurance and put it in the bank as a disease reserve on the one hand and a supplement to old-age care on the other. Or change the pension (this insurance also has the option to change the pension) and receive it in stages.

Xin Shengguang paid 68 160 yuan for the main insurance in 20 years, and only 60,000 yuan was guaranteed at the same time, and it can only be recovered after an insurance accident.

For critical illness insurance, Xinhua additional 08 critical illness insurance is an extra payment, which will not affect the insurance amount of the main insurance. Additional insurance and main insurance are also paid 15 years, and the insurance coverage is also 50000. Payment 1095 yuan, guarantee 15 years. This part is purely consumption, depending on whether you think it is appropriate or not.

I briefly compared the two products. Of course, you can have more choices. You can continue to ask questions if you have any questions.