When a family buys insurance, the key to maximizing benefits lies in understanding the coverage and protection level of various insurance products, and making reasonable choices and plans based on the specific needs of the family. So, how to buy insurance and how to maximize benefits?
How to arrange it reasonably
1. Is the purpose of insurance an investment or a protection?
When considering family insurance options, the focus should be on insurance products that can truly protect the family's future. Although some insurance products claim to combine investment and protection functions, for most families, medical insurance, accidental injury insurance and pension insurance are the most urgent and important protection needs. These insurances can provide financial support in the event of illness or accident in the family, ensuring that family life is not seriously affected.
The so-called "high returns" of some investment-type insurance products are not stable and reliable, especially when future interest rate fluctuations are unpredictable. Therefore, when choosing an investment method, families need to carefully consider the balance between risks and returns, and may prefer other investment channels rather than investment-type insurance.
In short, the core function of insurance is still to protect the family, so it is crucial to choose insurance products that can truly meet the needs of the family, to effectively use limited funds and ensure reliable financial support at critical moments.
2. Is the focus of insurance on parents or children?
When considering insurance, families should prioritize the protection needs of parents rather than children. Although insurance salespeople often recommend various insurance products before children are born, emphasizing preparation for the future of their children, in fact, the core pillar of a family is the financial support and health of parents.
Therefore, it is more appropriate and necessary to focus on parents. In particular, parents who bear the financial responsibility and play an important role in the family should purchase appropriate insurance to ensure that the family's finances can be stably protected in the face of unexpected or unforeseen circumstances. This approach can not only ensure the financial stability of the family, but also provide more reliable support and protection for the future growth of children.
3. Should children's insurance be a one-time thing?
The answer is obviously no. First of all, as the breadwinner of the family, insurance naturally needs to be considered.
Second, during the repayment period of the home loan, any accident may have a significant impact on the family, so additional accident insurance is crucial. It is best to choose an insurance coverage that is the same as the repayment period and can cover the loan amount to effectively prevent risks.
Third, after the birth of a child, the primary protection of parents should be themselves. Only by ensuring the security of the family's financial resources can the child grow up safely. However, if the parents' financial conditions allow, they can also purchase appropriate insurance for their children and adjust their insurance plans, such as increasing the insurance coverage for accidental injuries and accidental deaths to cope with the impact of unexpected events on the child's future growth expenses.
Tips for maximizing benefits
Comprehensively assess family needs: First, understand the family's financial situation, lifestyle, and risks. This includes the health status of family members, property value, income sources, etc.
Diversified insurance options: Based on the results of the assessment, choose insurance products that cover all aspects of the family's needs. For example, health insurance, personal accident insurance, property insurance (such as car insurance and home property insurance), life insurance, etc.
Appropriate insurance coverage and insurance period: Choose appropriate insurance coverage and insurance period based on the needs and future plans of family members. The insurance coverage should not be too high or too low, and the insurance period should match the family's long-term plan.
Compare products from different insurance companies: Different insurance companies may differ in premiums, claims services, and additional conditions. After comparison, choose products with high cost performance.
Regular evaluation and adjustment: As the family situation changes (such as the increase in members, changes in financial status, etc.), regularly evaluate the adaptability of the insurance plan and make necessary adjustments and updates.
Understand the terms and responsibilities of the policy: Read the terms of the policy carefully, understand important information such as insurance liability, deductible, and claims conditions, and ensure that you can successfully obtain insurance compensation when needed.