How should Ping An Life Insurance be renewed?

Renewal is an innovative financial product jointly launched by Ping An Payment Package and Ping An Life Insurance Company of China. Ping An Fuyi Wallet sends SMS invitation to Ping An Life Insurance users. After the user is authorized, he/she will pay the funds to Ping An Fuyi Wallet to purchase the wealth management products at a certain time (3/6/ 12 months) in advance, and pay the full premium for the user at maturity. Generally speaking, the amount of premium can be reduced. For example, you originally paid 3000 yuan, but now you only need to prepay 2500 yuan into a wallet, and the wallet will be automatically transferred to Ping An Life Insurance Company of China's account when you renew your insurance!

Benefits: It reduces cash payments. For example, to insure Ping An Hongyun Cai Ying, you have to pay 20,000 yuan every year, and the annual payment time is 10+0. It will send you a text message at 1 asking you to open the renewal treasure. "Now you only need 19200", which means you can deposit 19200 now. The function is a bit like a bank wealth management product (but the interest rate-fixed income, automatic deduction, deposit for at least 3/6/9 months), or it is equivalent to your current deposit 19200, and the maturity income is 20000, so the deposit interest is almost about 4.4%.

Disadvantages: 1 If you have a better financial plan, as long as it is equivalent to the annual interest rate of more than 5%, it is not cost-effective to renew the insurance. Of course, if you feel that it is troublesome to manage your money and want to save trouble, as long as it is higher than the bank's interest rate for the same period, it will be counted separately; 2. In an emergency, you can't withdraw in advance like a bank deposit; 3, wireless mobile phone transactions, information security should pay attention to.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.