Social Security and financial insurance companies

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First of all, it is important to clarify the definition of social security and financial management. Social security is not the concept of income, but refers to the state in order to prevent and share the social risks of old age, unemployment, disease and death, through the legislation mandatory establishment of the social insurance fund, to participate in the labor work of workers to give the necessary help to the social security system. Social security insurance is not for profit and is mandatory for most members of society, making it an important social security system in China. Social security includes pension insurance, work injury insurance, maternity insurance, unemployment insurance and medical insurance, all of which, except pension insurance, are eligible for social security reimbursement under certain circumstances. Pension insurance, on the other hand, is a savings account, and depending on the number of years you have paid and the amount you have paid, you can receive a monthly pension when you retire.

And investment finance is the management of your financial situation to achieve the purpose of preserving and increasing the value of your property. Wealth management is divided into corporate finance, institutional finance, personal finance and family finance, and there are various ways of investment.

A large portion of the social security payments we make is a reserve for future retirement. Relying on social security alone is not enough to support the standard of living in later years, and you need to rely on personal investment and financial means to accumulate funds. Commercial insurance is the most common and practical way of financial management for old age, with a long payment period, and the pension is paid by the insurance company according to the contract when the insured person retires in old age or the insurance period expires. At present, annuity insurance, double insurance, term insurance and whole life insurance in commercial insurance can achieve the purpose of old age, which all belong to the category of commercial pension insurance. Taking the National Life Ruixin as an example, it is calculated by putting in 600 yuan per month (which is more or less the same as the minimum social security payment in many cities and the part borne by the individual), and contributing for 20 years. Every three years, you can receive 4,000 yuan until the age of 79, and at the age of 80, you will receive a lump sum of 150,000 yuan as life annuity. You can enjoy the benefits paid out by the insurance company every year, up to a maximum of 240,000 RMB. And additional critical illness, death benefit of 150,000 yuan each, medical insurance benefits 20000.

And if you want to pursue a sustained and stable income, another advantage of choosing insurance is to ensure that the value of the funds do not depreciate. The company has a variety of financial insurance, the expected annualized rate of return is more than 5%, long-term investment can enjoy the compound interest accumulation dividends. Financial insurance is a means of forced savings, to realize the role of wealth preservation, value-added, to help young people save for a rainy day, to avoid excessive consumption of young people, for the later life to provide a strong protection.