Life insurance known as "life insurance", is a " life insurance "category. Human life is the object of insurance for insurance. The insured or the insured to the insurer agreed to pay the premium later, when the death of the insured or survival to a certain age in the insurance period, to fulfill insurance money.
The term life insurance in the use of broad and narrow sense. Life insurance is a generalizedlife insurance , life insurance is a narrow life insurance, but does not include accident insurance and health insurance , only based on human life and death for the insurance event, the insurer is responsible under the contract for the insured In the insurance period insurance payment to the time of death or survival within a certain age.
Life insurance from the insurance sense, there are compensatory payments and savings of. Savings category by itself is not insurance, but premiums levelized byproduct . Insurance business to expand banking services to enrich the life saving features. Payment of life insurance life insurance is often considered to be different from the property insurance of the main features. In fact, there is no difference in the nature of compensatory property insurance and life insurance payments on the property.
From an ethical point of view of human life, it is impossible to compensate. Is it possible to compensate it for the articles? Actually not the case, in addition to the time can not be repeated, but also the emotional and objects can not be reconstructed. If you can not reset the items would be no compensation in the strict sense. Life can not be reset to recognize the nature of human life, in order to distinguish the concept of compensation payments made. In this sense, property insurance and life insurance compensatory payment of just terminology difference. Life insurance compensation is absolute, payment is relative. If payment of the agreed compensation out of the paradox in the true sense of the insurance. But life is not like property insurance at the time of exercise of subrogation claims. This is the payment of the decision. The fundamental reason is that the value of life is not a measure of accuracy.
Life Classification
Life insurance can be divided into death insurance , survival insurance , endowment insurance death three.
Regular life insurance , also known as the customary term life insurance . Is a kind of death of the insured accident occurred within the period prescribed by the insurer and is responsible for payment of insurance insurance contract . The risk for a period not longer, sometimes shorter than a year, mostly to protect the insured person has served a short term temporary work is likely to endanger the life or safety of a period of time due to the insured person and affect the interests of policyholders. Because of term insurance insurance accident not occurred before the insurance expires, the premium is no longer refundable, and regular insurance does not include the savings factor, thus regular insurance premiums lower than any kind of life, so long as the cost is extremely insured cheap insurance you can get great insurance, so this person insurance affordability for low and in need of protection is most appropriate.
Because of these characteristics, the current regular life insurance has been widely used, this risk can also be mixed with other types of life insurance, joint combined into various types of new types to meet the needs of multi-level. For life insurance is an occasional death insurance, also is not attached to the living conditions of a survival insurance, the insurer must have been responsible for the death of the insured person up to. For life insurance rates than regular insurance and below endowment insurance , in fact, close to the long lifetime of the endowment insurance premium rates , which contains savings rates constitute a factor.
Survival is insured within the period specified as the payment of insurance conditions, but also refers to the insured when the bottom up to the agreed period, the payment of insurance, such as during this period was the death of the insured, the premium paid no refund, will provide for all survive until the expiration date of the person's insurance. This contains the premium paid without repayment of those who died.
Survival insurance primarily to enable the insured to a certain period, you can receive an insurance payment to meet their daily needs, most general insurance combined with other types of insurance to survive handling, such as survival insurance and annuity combined into the existing pension survival insurance and life insurance combined into endowment insurance. Because of this combination of life insurance to meet various needs, helped to popularize and develop the life insurance business.
Refers to whether the insured in the insurance period, death, or survival when insurance expires, the agreement could receive insurance payments insurance. Such insurance from the same insurance death benefit merge to survive into the surface, so called endowment insurance.Endowment insurance is not attached to the survival of the insurance death benefit, but both are the same, the merger consideration factors of survival and death. Therefore, regardless of endowment insurance in the amount of insurance or insurance premiums, these two factors are in mutual growth and decline.
First, pure endowment insurance premiums is included in the hazard insurance and savings insurance, hazard insurance premiums which relatively speaking is rising year by year.
Second, due to the increased year after year to make insurance premium savings into reserve accumulation partly responsible rising every year, so that the amount of insurance in the relative risk of declining insurance, hazard insurance amounted to zero eventually to expire when the insurance period.
Usually in the endowment insurance, savings far outweigh the risks factors premium factor, then the insurer in the design of new types of life insurance, in order to increase the proportion of the risk of security, there is a guaranteed pension times, so the insurance death benefit can 10-year expiration times or times for payment of insurance money to survive, both to protect the fear of an early death in the dangerous consequences of people, but also to protect the old fears in later life. So endowment insurance is one of the most popular life insurance.
1. Life makes sense of security system transformation of canada society, the traditional country entirely dependent on, the unit's pension system is gradually undergoing profound changes, the state of the illness and death of workers "blanket" has become the past, people have realized the true guarantee their future life can only be myself. So people at a young age into the early morning to prepare, you can have plenty of time to protect the lives of the elderly, so the crossing of a "magnificent sunset" of old age. Pension insurance for the elderly can be said both children share a sorrow, is dedicated to the elders of a younger generation filial piety.
2. Life insurance medical services so the saying goes, "food grain, was riddled with" especially in modern society, the pace of life, increasing competition, minor illnesses small disaster, people can resist the past, once imminent serious illness, even though many people debt, four walls, but also can not afford the high medical costs; some consist Fu Yin, also due to a serious illness, depleted savings.According to "Shanghai Insurance," published in 1997, the first six, in a society of Shanghai people's survey found that health care and pension is the life insurance market in the greatest demand, and in between the two, Medicare proportion again dominated, because now a lot of life insurance, the hospital medical and accident alone can not insured, but only as the main risk behind the additional risk insurance. Thus, the public in order to get a additional risks , it copies the main risk Shunpian Mai. People have realized that life insurance can see, you can make your own medical services, rehabilitation is expected.
3. Life has been so young according to the "children in front of their parents will always be a child in need of protection", this concept allows canada parents for their children to have more financial obligations , economic ties between parents and their children until the children are often employed marriage, birth after .canada's family planning policy to make a small increase in nuclear families, the cost of education to children from the marriage expenses, the burden is very heavy, if the family income level is not high, bear these costs would be very difficult. So many insurance for the children undoubtedly Succeed, Wang's parents sent rife timely rain.
4. Life itself is conducive to the development of the planned economy , the one person as long as there is a unit of work, then it is good shade tree, birth, old age, sickness, disability, death and other personal risk can rely on the unit to solve. With the market economy systemgradually established, the functions of the government and enterprises transition, especially the employment system and social security systemreform, individuals are increasingly becoming the main bearer of risk. As long as there is an appropriate business insurance backing, more security, threw many people can freely choose their own career, to seize every possible opportunity to develop their talent, which is truly their own talent.
5. Life insurance is an investment with the canada financial markets improve, people raise income levels, buying life insurance, stocks ,bonds , treasury bills , commercial and other people will also become the currency hedge the value of options. Insurance fees are generally composed of three parts: accident insurance, sickness and death insurance premium value. Before the main function is to protect both of premiums insurers losses due to accident, illness or death and other accidents caused by high residual is, can be seen as a consumer; appreciation Department reinsurance costs mainly in accordance with the role of policy interest rates to book value, satisfy pension income people, education and other needs, with investment functions. Our insurance market life insurance insurance, fully functional, the majority were comprehensive insurance, from risk, supportability, reliability and profitability point of view, with investment functions. Also participating in the individual insurance will also enjoy some preferential policies, such as tax exemption , etc., compared with other investment vehicles, it is quite excellent.
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