Category: Insurance

Many people think that buying a "lifetime out-of-pocket medical insurance" will provide lifetime protection, but in fact, most products have an upper age limit for claims, usually 75 or 80 years old.

Whole life type means that the policy is valid, but it does not mean that the payment will be made for life.

It is recommended to read the terms carefully to confirm the coverage period and evaluate whether other insurance policies are needed to supplement the coverage, so as to truly protect the medical needs of the elderly.

There are two logics for medical insurance: one is the "return type" with higher premiums but refundable upon maturity, which is suitable for people who value the sense of return; the other is the "pure protection type" that focuses on protection and has lower premiums, which is suitable for people who want to use less money to support high protection.

There is no better one, the key is what you need most right now.

After the old man who caused the Three Gorges accident passed away, if his family members gave up the inheritance, they would be exempt from paying compensation to the victims.

Compulsory insurance and third-party liability insurance become the key to the victims' families' claims for compensation.

If the elderly person’s insurance policy does not specify another person as the beneficiary, the compensation money will be considered as the inheritance for repayment; if someone else is specified, the insurance money will not be included in the inheritance and the family members can legally collect it.

This case highlights the importance of insurance planning and third-party liability insurance.

Many parents hope to accumulate wealth for their children. Traditional deposits have low interest rates and weak resistance to inflation, so regular and fixed-amount investments in the stock market become a simple and effective option.

By investing a small amount of money every month, you can balance market fluctuations and accumulate assets over the long term.

At the same time, it can also be combined with a policy with cash value to provide protection and strengthen the child’s future financial foundation.

The tax risk of investment-type policies depends on the "gains" (withdrawal amount - premiums paid), not whether it exceeds the principal.

If there is no profit, it is tax-free; if there is a profit, the tax burden is determined by the annual income and the tax-free amount. The withdrawal amount is tax-free if it is less than 92,000 (2024 standard), and it is included in the comprehensive income tax return (tax rate 5%~40%).

There is no need to worry if the investment is below 1 million. For investments above 2 million, it is recommended to withdraw the funds in installments and make reasonable plans to save taxes.

Those who invest more than 5 million should plan their taxes in advance to avoid high tax burdens.