Three types of life insurance

There are mainly term insurance, whole life insurance,

and income security insurance as insurance to prepare for the time of the thing such as death or high disability condition.

Term insurance

term insurance is guaranteed only for a certain period of time,

and you can receive insurance when you die or when you become highly disabled as defined by the insurance company.

Usually, there is no maturity insurance (the insurance that comes back when the insurance period has expired),

and the premiums are thrown away (the premiums paid never return).

That’s why the premium is cheaper.

The advantage is that you can get great security with cheap premiums when your child is young or when it costs education.

But let’s be careful that insurance period is not lifelong (life).

It is important to check the required security amount at that time before applying for term insurance.

happy life in Japan

Whole life insurance

Whole life insurance is guaranteed for a lifetime,

and you can receive insurance when you die or when you become highly disabled as defined by the insurance company.

There is no maturity insurance, but there is a cancellation fee (money to be refunded at the time of cancellation)

when cancellation is made on the way.

Depending on the product, if you join for a long time, the surrender value may exceed the total amount of premium paid, and it is characterized by high savings.

However, the premium will be higher than that of the term insurance.

There is also a term life insurance with a special contract that combines life insurance and term insurance.

wheelchair from accident
if its happen….

Income security insurance

Although the basic structure of income security insurance is the same as that of term insurance, there is a feature that death insurance can be received in the form of “annuities”.

For example, it can be received in splits, such as “receive 100,000 yen each month until the age of 60”. Since the payment period is determined at the time of contract, the total amount received at death will decrease with the passage of time if nothing is done, but the premium will be even lower than that of term insurance.

There is usually a minimum guarantee period (more than two or five years) of receipt, as dying at the end of the receipt period will reduce the total amount received.

a weekend with my family