Savings insurance, a conservative financial tool, which is suitable for customers with lower risk exposure. There are insurance plans with savings elements on the market, such as savings life insurance, guaranteed income life insurance plan, annuity plan, etc. Customers need to pay a specified amount to the insurance company on a regular basis. When the policy expires, the policyholder can get back the guaranteed amount based on the plans. Some policies can also provide death claims during the effective period.
Note:
There are short term saving insurance (3 to 5 years)
Review the saving target and affordability, insured can cancel the policy within the cooling-off period (generally 21 days, exclude handling fees and adminstrative fees)
Cancel the policy after the cooling-off period, the refund of the cash value may be less than the initial amount.
