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The insured person how to do life insurance plan, has long been an unresolved issue, the insurance what is insurance, the insurance premium amount and how to decide, but how to choose the life insurance company? In this study is based on consumer''s point of view, by studying literature, law, secondary statistical data analysis properties of whole life and term insurance, 29 domestic life insurance companies for 20 years on a regular basis with the 20-year payment life insurance for life Life as a sample data, assumptions and limitations in the study conditions, to explore the purchase of the same age, the same interest rate and assuming an average life expectancy through the net present value method under the analysis on a regular basis of life and life-long life the present value of the balance of payments and what the consumer is relatively better in terms of providing consumer acquisition of reference. The empirical results are summarized as follows:
1. Payment period of the insurance death benefit, the insured person,given the present value of the insurance payment is greater than the present value of annuity premium expenses, the net present value positive Jie Wei , Whole Life Insurance Term Insurance to be higher than the cost of payments received exactly the same, so on a regular basis the net present value life insurance Hengda life-long life insurance, term insurance is more advantageous.
2 .Life expectancy is greater than or equal to the average life expectancy of the insurance benefits to law of large numbers, the average life expectancy of people on behalf of the majority of life insurance premiums and insurance payment for measuring the standard of payment, when the average life expectancy of its net present value of after the present value of annuity premiums are all negative net present value, and the net present value with a lower life expectancy shows that when the life insurance whole life is greater than or equal to the average life expectancy disadvantage when the insured person.
3.Pay below the average life expectancy expires death insurance benefit, and empirical results mostly male part of the negative; female part of the majority is positive, that is, as in the life saving or life insurance as a financial tool, the men in the payment expiration of 10 years, i.e. not achieve the desired results, because the average life expectancy of women is longer, at the expiry of 10 years, payment is still a risk of transfer effect. If Whole Life Insurance Term Insurance to pay more premiums than the cumulative value of the reserve for the protection of payment after the expiration of life, men are more detrimental to women could be considered.
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