For those who are vague do not know how much life insurance

How much does life insurance cost? Only 3 to 5 million income can buy? is a wonder of people who first learn about insurance. Life insurance is a special product designed for each person, so how much life insurance is up to you depends on your finances, only about 10% of your monthly income, not on the job. insurance company.

First, we need to distinguish between buying life insurance and participating in life insurance. Calling life insurance is not right. Actually, joining life insurance is the correct way of understanding. Unlike buying, we lose money in exchange for our products, and life insurance costs us nothing but money. Buying is the use of money to get goods, such as money spent buying vegetables, buying meat, etc. Participation is the activity that takes place in a certain time, is a process. With life insurance it is considered as accumulation. Participating in life insurance is like a regular and disciplined way of saving money against the unfortunate risks or financial preparedness before important life events such as: get married, have children, go to college or when you reach retirement age. In addition, participating in life insurance is an investment because if you do not have any insurance incidents, you will not only get back your money but also receive annual insurance on the day. contract expiration. The new insured life you do not lose nothing but the opposite is practicing thrift, discipline and express yourself as responsible for the future. So, life insurance buy or join thinking we all have the answer. 1. Who can participate in life insurance? Life insurance coverage ranges from 0 - 65 years old. Depending on the package of insurance products, the re-entry age is different. Current participants in life insurance include: Fetus: The baby is protected from the womb. Most prominent is the product of Bao An Thanh Dat (for fetuses from 6 weeks) of Generali. This is an attractive product in the market, helping to complete the financial resources, take care of mother and baby health throughout the pregnancy, companion in each stage of development from birth in the womb to the go. learn, be successful, set up business through the solution of financial security. Children: Parents are often involved in educational packages such as Manulife's Love Gift, Prudential's Prudential Prudential, Daiichi's Anesthetic Mind, AIA Lifelong Integrity ... These are premium products for children with great benefits, helping parents to secure a solid financial future for their children's education, such as: getting regular educational support, career or reward when you go to college ... Adults: Life insurance products designed specifically for this audience focus on protection and investment. Mentally entitlement benefits enable the participant to make great plans and plans in life such as buying a home, buying a car, or sending a child to study abroad. Typical products are: An Gia Tai Loc of Baoviet Life, Manulife Family of Love, Generali's Generous House, or An Phuc Hung Thinh of Daiichi Life. Older people: With retirement insurance, you can easily plan for your retirement age, regardless of your children. Featured products are: Manulife - Retirement pension, Bao Viet Life with Privately Held or Prudential - Prudential ... 2. How much does life insurance cost? This is probably the most widely questioned question. How much does life insurance cost? Actually, the premiums paid for life insurance products are not the same, even if they are the same product of the same company. Because life insurance is a special product, it is designed to suit the needs and conditions of each individual. Participants are allowed to make financial plans to select the right insurance package. The life insurance premium depends on many factors such as gender, age, health, occupation ... For example, bad health, high risk or age, the premium will higher than usual. Current premiums for life insurance products on the market: • Insurance for children with the lowest participation fee is 3 million per year. • Coverage for the low cost participant is VND 4 million per year. • Pension insurance has a much higher participation fee (due to high age and poor health) which is around 7 or 8 million VND / year. Depending on the conditions, circumstances, needs and protection of each person's income, we should choose the appropriate fee. Normally, you should only spend 10-15% of your income each month to protect and accumulate with life insurance and make that amount of money.

1 year is equivalent to your total income in 1-2 months. Thus, you can participate for a long time until the contract expiration (the ideal condition)

In order to be able to easily pay the premium without affecting other monthly expenses, you should consider carefully choosing a suitable insurance amount to meet your protection needs. If you choose a large life insurance policy, you will have to pay a higher premium.