The following is detailed information about life insurance products, updated on March 9, 2026
Life insurance is an insurance product that takes the insured's life as the insurance subject. Its main function is to provide financial protection for beneficiaries when the insured dies or becomes totally disabled. Life insurance products include term life insurance, whole life insurance, and increasing whole life insurance, etc., to meet the needs of different people.
Term life insurance is an insurance product that provides death protection within the agreed period, suitable for family breadwinners.
Whole life insurance is an insurance product that provides lifetime death protection and has cash value.
Increasing whole life insurance is whole life insurance with increasing coverage, combining protection and financial management functions.
The main function of life insurance is to provide financial protection for beneficiaries when the insured dies or becomes totally disabled, helping the family through difficult financial times.
Whole life insurance and increasing whole life insurance have cash value, which can be used for policy loans, reduced coverage withdrawals, etc., with certain financial management functions.
You can choose the appropriate coverage based on personal needs and budget. It is generally recommended that the coverage be about 10 times the annual income.
Life insurance products provide both term and lifetime protection periods to meet the needs of different people.
Many life insurance products also provide additional functions such as premium exemption, term life insurance conversion to whole life insurance, etc., to enhance protection.
Suitable for family breadwinners, it is recommended that the coverage be about 10 times the annual income, and the protection period covers the family responsibility period (such as when children become adults, mortgage is paid off, etc.).
Suitable for people with estate planning needs, it can be used as a tool for wealth inheritance.
Suitable for people with both protection and financial management needs, the coverage increases year by year, and the cash value grows stably.
When applying for life insurance, the insured's health status should be truthfully disclosed, otherwise the insurance contract may be invalid or claims may be rejected.
Life insurance mainly provides death protection. It is recommended to use it with other insurance products such as million medical insurance, critical illness insurance, accident insurance, etc. to build a comprehensive protection system.
Term life insurance only provides death protection within the agreed period, with lower premiums; whole life insurance provides lifetime death protection and has cash value, with higher premiums.
The coverage of increasing whole life insurance usually increases year by year at a fixed interest rate (such as 3.5%), and the specific growth method depends on the product terms.
The waiting period for life insurance is usually 90 or 180 days, and death occurring during the waiting period will not be compensated (except for accidental death).
Cash value refers to the value of the policy, which can be used for policy loans, reduced coverage withdrawals, etc. Whole life insurance and increasing whole life insurance have cash value, while term life insurance usually does not have cash value.