What should I do if I can't live to 60 years old after paying endowment insurance?

If you don't live to be 60 years old after paying the endowment insurance, the balance of the account can be inherited by the heir.

Pension insurance cannot be withdrawn in advance after payment. If the insurer does not live to the age of 60, his account balance can be inherited, and his survivors can receive funeral subsidies and pensions. Insurers who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can receive disability allowance.

When inheriting the estate, if the decedent made a valid will before his death, he shall inherit the estate in the order and share determined by the will. If there is no valid will, the inheritance shall be inherited in legal order. The first order is spouse, children and parents. The second order heirs are grandparents, grandparents, brothers and sisters. At the beginning of inheritance, it should be inherited by the successor in the first order, not by the successor in the second order. When there is no successor in the first order, the successor in the second order inherits. The share of inheritance between heirs in the same order shall be equal, but if the heirs of all parties agree, the share of inheritance may not be equal.

The so-called children include children born in wedlock, children born out of wedlock, adopted children and stepchildren with dependency.

The so-called parents, including biological parents, adoptive parents and adoptive parents.

Brothers and sisters include brothers and sisters with the same parents, half-brothers or half-brothers, adopted brothers and sisters, and stepbrothers and sisters with dependent relationships.

legal ground

Article 14 of the Social Insurance Law stipulates that individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.