Which is more cost-effective: term or savings life insurance?

・Term life insurance
Insurance that doesn't refund your money even if you cancel
Or it is an insurance that will refund you a small amount of money if you cancel the policy midway, but will be worth nothing when it expires.
On the flip side, your monthly insurance premiums will be cheaper.

This is a life insurance policy that focuses on protection, so it is suitable for those who want to efficiently prepare comprehensive protection for a certain period of time.
Examples include term insurance, income protection insurance, medical insurance, and cancer insurance.

〇 Savings-type life insurance
This is a life insurance policy that will give you some money back if you cancel the policy.
You're getting protection and saving at the same time.
Because there is a savings portion compared to term insurance, the premiums are higher for the same amount of coverage.
Examples include whole life insurance, variable insurance, education insurance, and individual pension insurance.

【summary】
・Want to save money automatically over a long period of time while still having insurance = Savings type
・Want to secure large coverage at low premiums = pay-as-you-go type

There is no clear advantage or disadvantage between term and installment plans.
Each has its own characteristics, so it depends on the amount of coverage you need, the purpose of the insurance, and your thoughts on insurance premiums.
It is important to choose the right type.
Combining both products is also an important factor when choosing insurance.

Please feel free to contact us with any questions or concerns you may have about insurance.
Consultations are free of charge, no matter how many times you consult.
We look forward to your reservation and visit.


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