Taikang Life Insurance enjoys a family (incremental version), allowing the whole family to have wealth protection that goes through cycles
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Recently, incremental whole life insurance products have been selling hot. Taikang Life’s Zunxiang Family (Incremental Version) Whole Life Insurance (hereinafter referred to as “Junxiang Family (Incremental Version)”) is a hot seller, relying on its safety, stability, and compound interest growth of nearly 3.5% after the cash value exceeds the total premium payable The advantages of high rate, lock-in growth rate of effective insured amount, and relatively flexible insurance reduction have won unanimous praise from customers and the market.
Family Asset Allocation in the Age of Longevity, Commercial Insurance is Favored
The “silver hair wave” is surging, and the era of longevity has come into reality. “Long-term” is becoming the unique advantage of insurance products and insurance companies, attracting every “big treasurer” of family wealth for the family and their own long-term plans.
According to the World Health Organization, as of 2021, the average life expectancy of Chinese men is 76.7 years and that of women is 81.4 years. The arrival of a long life has actually led to a continuous increase in people’s demand for funds in a longer period of time. Therefore, everyone and every family’s decision-maker is considering a longer-term wealth management plan to ensure that their assets maintain appreciation.
Insurance wins the favor of consumers for its ability to provide financial products that last as long as life, transfer longevity risks, and provide cash flow that lasts throughout life, thereby achieving long-term financing.
Facing the booming wealth management needs in the era of longevity, leading life insurance institutions represented by Taikang Life Insurance focus on insight into the needs of the times and serve customers’ financial planning throughout the life cycle. Savings-type insurance products are designed to help consumers balance their financial income and expenses throughout their lives, and better leverage the advantages of insurance across the life cycle; moreover, they subdivide the wealth management needs of consumers at different stages of their lives and provide more targeted insurance services; and dig deep into the different needs of middle and high net worth individuals for wealth accumulation and inheritance, and provide differentiated, refined, and scenario-based insurance products and services.
Maintaining and increasing value is one of the important functions of insurance products. It is one of the value attributes of insurance products to meet consumers’ needs for wealth management insurance products, and to reduce and prevent interest rate risks and reinvestment risks during periods of interest rate decline.
Among them, incremental whole life insurance is popular among consumers because of its effective insurance coverage increasing year by year, high cash value, safety, stability and flexibility.
TaikangrespectEnjoyaristocratic family,supplyFlexible protection and wealth protection across cycles
As a life insurance product, increased whole life insurance is special in that its insured amount and cash value will increase over time. And because of its flexible rules for adding and subtracting insurance, it greatly improves the liquidity of products.
Take Taikang Life Insurance’s “Prestige Family (Incremental Version)” as an example. Once the product was launched, it aroused strong market attention. It has the functions of “guarantee” and “reserve” to realize the guarantee and the current price increase every year. The unique “dual insured” setting can achieve “intergenerational insurance”. During the insurance period, the relay between the two generations can insure longer, and the value-added space is considerable. (For intergenerational insurance for minors, laws and relevant regulatory requirements need to be met.)
Specifically, the Premium Family (Extra Edition) has three major features: safety, value-added, and flexibility.
Safety: The benefits of incremental whole life insurance are determined. After the insurance is taken out, the annual cash value of the policy is clearly written into the contract, which is not affected by market fluctuations.
Value-added: The effective insurance amount of Exclusive Family (incremental version) increases according to the compound interest rate of 3.5%, which is a relatively high increase rate in the industry at present. The cash value quickly exceeds the total premium payable, and then increases at a compound interest rate of nearly 3.5%, locking in long-term benefits. At the same time, it can be purchased in combination with a universal account to further increase profitability.
Flexibility: Flexibility is one of the highlights of incremental whole life insurance. You can independently arrange policy reduction or surrender to draw cash value according to your needs, and you can plan funds flexibly.
Exclusive family (incremental version) is the first choice for long-term capital allocation of residents and families. As an insurance “star” that not only has the function of compulsory reserve, but also provides stable wealth management functions, it is preparing education funds and marriage funds for children, as well as for yourself and your elders. There are significant advantages in preparing pension funds.
To configure incremental whole life insurance for long-term idle funds, the value of compound interest must be based on the accumulation of time. The longer the time, the greater the value. Now is a good time to configure incremental whole life insurance.
risk warning:
1. Compound interest is only a method of interest calculation, not a promise of income; 2. The insurance reduction function of this product can be used after the hesitation period, but please pay special attention to the difference in the payment period, the insurance reduction in the previous years will have a greater impact losses, and both the basic sum insured and the effective sum insured will decrease after the policy is reduced. In addition, the reduction of insurance needs to be carried out in accordance with the conditions specified in the terms, and the specific terms shall prevail. The product is essentially a whole life insurance with the function of death protection, which provides you with lifelong protection. As an additional function of the product, please plan and use it reasonably.
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