What does individual long-term life insurance mean? Who is this insurance suitable for?

To answer the question first, individual long-term life insurance refers to life insurance that can provide long-term protection for the insured. This type of product is suitable for people who need long-term personal protection. However, there is more than one type of personal insurance. Each type of personal insurance has different functions and is suitable for different people. Let’s talk about it in detail~

There are three main types of personal insurance: life insurance, health insurance, Personal accident insurance. Because accident insurance is mostly one-year products (and I don’t recommend everyone to buy long-term accident insurance). So I will mainly talk about the first two~

1. Life insurance

Life insurance is an insurance product that takes the life of the insured as the subject of insurance, and it is subdivided into death insurance , survival insurance and endowment insurance.

Among them, death insurance is the life insurance that everyone often sees. It can provide death protection for the insured. People who need death insurance can consider purchasing it. Life insurance is divided into whole life insurance and term life insurance. You can find out: What is the difference between term life insurance and whole life insurance? Senior sister will tell you in this article!

Survival insurance is an insurance product that takes the survival of the insured as the condition for payment of survival benefits. The pension annuity insurance on the market is a typical survival insurance. If you have relevant needs, you can buy it.

As for end-all insurance, it refers to an insurance product that can protect both life and death. It provides a death benefit upon the death of the insured and a maturity benefit if the insured remains insured throughout the period. For more information about the suitable people for this type of product, you can read this article: Regarding endowment insurance, there are things the salesperson will definitely not tell you!

2. Health insurance

Common health insurance mainly includes critical illness insurance and medical insurance. Since the coverage period of medical insurance is usually only one year, long-term health insurance is mainly critical illness insurance. The function of critical illness insurance is to transfer the economic risks caused by critical illness. It is suitable for people who need critical illness protection. Since everyone is at risk of suffering from serious illness, it is recommended that everyone buy it if possible. Regarding how to buy critical illness insurance, please read this article: Which critical illness insurance is better, how to buy it cost-effectively, and how to avoid the pitfalls of insurance

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