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The day before yesterday, a 44-year-old fan sent a screenshot in the background, which was a plan made for her by a salesman of an insurance company.
The main insurance is a whole life critical illness insurance, which is paid in 19 years and costs 3,320 yuan per year, but the sum insured is only 70,000 yuan.
In addition, 10,000 yuan of hospitalization medical and accident insurance are added each, and the first year premium of the whole package is almost 4,000 yuan.
Fans asked us how about this plan and can we buy it?
Our answer is also very clear, you can't buy it because the sum insured is too low.
01. Leverage is too low to make sense
Critical illness insurance takes up the most funds in the plan, but with a mere amount of 70,000 yuan, it is difficult to deal with critical illnesses such as cancer.
The main role of critical illness insurance is to make up for the loss of income due to inability to work normally during treatment, and for middle-aged people in their prime, 70,000 yuan may not even be able to compensate for one year's income.
However, the price paid by the policyholder is not low, 3,320 yuan is 63,000 yuan for 19 years.
If after 19 years of premiums are paid, even if you really get a critical illness claim of 70,000 yuan, 63,000 yuan of which is only a premium, and there is no leverage at all.
Coupled with the interest income lost over the years, in fact, the 70,000 yuan is completely his own money.
For example, if you pay 100,000 yuan and the insurance amount is 400,000 yuan, the leverage ratio is 4 times.
Under the premise of the same protection function, the protection of products with a leverage ratio of 4 times is stronger than that of products with a leverage ratio of 2 times.
Therefore, a plan like this, which is almost leverageless, is not worth considering at all.
02. Whole Life Critical Illness Insurance is not suitable for middle-aged people
The reason why the above-mentioned products are not leveraged, in addition to their own pricing is relatively expensive, the more critical reason is that they carry death liability.
When a lifetime insurance product carries a death liability, it means that the insurance company will definitely pay 100% of the compensation.
Like the product of the fan plan, you can get 70,000 yuan in insured compensation for critical illness or death.
This means that the insurance company is ready to pay the 70,000 yuan from the beginning of the first premium, and it is only a matter of time before it is uncertain.
However, from the age of 44 to the age of 63 after paying the premium for 19 years, the chance of critical illness or death in the next 20 years is quite high, coupled with the liability for mild to moderate illness, it is difficult for the product to provide much leverage.
In this way, after paying the premium, you can still retain 3 to 5 times the leverage ratio, so that critical illness insurance can really play a role in protection.
Due to the low incidence rate and long holding time of the policy, children are more suitable for lifelong critical illness insurance with death.
Because in addition to hundreds of thousands of lifetime guarantees, you can also save a sum of money at the same time, with compound interest of about 2% per year.
03. Prioritize long-term medical insurance
Because after the age of 40, the decline of physical function accelerates, and the incidence of various diseases will rise rapidly.
For example, the incidence of cancer in a woman is only about 7 per 10,000 at the age of 30.
But by the age of 40, it has soared to about 24 per 10,000, and by the age of 50, it has reached 45 per 10,000.
In addition to cancer and other critical illnesses, there are thousands of diseases that threaten our health, but critical illness insurance does not cover them.
As long as you are in good health and have no chronic diseases or serious illnesses, it is recommended to buy long-term medical insurance for 20 years.
In this way, when we need it most, we can't buy insurance.
04. Conclusion
Fortunately, the fan mentioned at the beginning gave up the original plan after consulting us, and bought a 20-year long-term medical insurance for himself while he was still in good health.
This medical insurance only cost less than 1,000 yuan, saving a budget of more than 3,000 yuan, and also helped the child configure 300,000 yuan of lifelong critical illness insurance.
Therefore, to buy good insurance, scientific and reasonable allocation is the first step.
Well, that's all for today on the topic of buying insurance at the age of 40.
If you have any questions, please feel free to comment or communicate with you in private messages.
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