Which is better to pay 60 levels of endowment insurance or the lower limit?

The most cost-effective pension insurance is 60%.

Generally speaking, it is more cost-effective to choose 60% grade endowment insurance to pay. If everyone pays the old-age insurance at the level of 60%, then they can receive the basic pension at 0.8% of the average social wage in the previous year every month.

And if everyone pays the old-age insurance at the level of 100%, then they can only receive the basic pension at the level of 1% of the average social wage in the previous year, so many people think that paying 60% is relatively cost-effective.

The classification of endowment insurance is as follows:

1. Endowment insurance for urban and rural residents. This kind of endowment insurance is a kind of social security. Those who voluntarily participate in the endowment insurance for employees may participate in the endowment insurance for urban and rural residents. The annual payment can be chosen according to your own economic ability, as long as you are a local hukou or hold a residence permit.

2. Endowment insurance for urban workers belongs to social security, and can be bought by on-the-job workers or flexible employees; On-the-job personnel are paid by companies and individuals in proportion;

3. Commercial annuity insurance. The payment condition of commercial annuity insurance is survival and can be returned at the agreed time. For example, you can get an annuity from the fifth year of the policy or at the agreed age. There are many options for the guarantee period, including 5 years, 10 years, 15 years, 20 years and life insurance. Annuity insurance chooses to add a universal account, and the funds can automatically enter the universal account to compound interest and increase value, and can be randomly collected every day, which is flexible to use. There is also annuity insurance with dividends. In addition to survival, there will be dividends, but the income is uncertain;

4. Commercial pension insurance is a form of annuity insurance, which usually starts to receive a fixed amount after reaching the age, and you can choose to receive it annually or monthly. This type of old-age insurance, the insurance benefits are determined, and there will basically be a guaranteed time to receive it. If you are guaranteed to die during the collection period, you can give it to the beneficiary;

5. whole life insurance and whole life insurance are divided into fixed amount whole life insurance and increased amount whole life insurance. The content of protection is that only death and high disability can be realized, but the financial management attribute of this kind of insurance can be reflected by its cash value; Whole life insurance has a high cash value. For example, the increase in whole life insurance is increasing with compound interest at a fixed amount, and the cash value is increasing rapidly. You can get the cash value of your pension by reducing your insurance.

6. Investment linked insurance. As a kind of old-age insurance, this type of insurance has a relatively high risk level. This is a means of long-term investment. Insurance companies are only responsible for managing account funds and charging a certain management fee. The income is not guaranteed, and the profits and losses are self-financing;

7. Universal life insurance, similar to universal insurance as endowment insurance, has a guaranteed interest rate and pays a certain premium every year. After a certain number of years, you can enjoy deferred payment, but you can continue to pay. When you reach the age of receiving a pension, you can partially receive the value of the universal account as a pension;

8. Old-age security can guarantee survival or death, that is to say, after the expiration of peace, you can get a due payment as a pension, and you can get a death payment when you die during the insurance period.

To sum up, employees should participate in the basic old-age insurance, and employers and employees should jointly pay the basic old-age insurance premium; Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 12

The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state, and record it in the basic old-age insurance pooling fund.

Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.