The life insurance industry in the United States has a long history. From the first policy issue in 1762 to the present, it is already a mature and developed market.
According to statistics, there are more than 1,500 insurance companies in the United States. The result of fierce competition makes American insurance premiums the cheapest in the world.
In addition, the main customers of American Life Insurance are North American residents. Because of the advanced medical technology in North America, long life expectancy, relatively stable investment environment and relatively transparent investment channels, these factors make insurance costs lower. So the premium will be relatively cheaper.
In addition to these three types of the United States, there are investment-type universal insurance and index-type universal insurance. Among them, Index Universal Insurance (IUL), as a kind of guaranteed investment insurance, can track the stock market to obtain the same income and guarantee that it will only make no losses, and it has won the favor of more and more people.
4. Diversified investment
Buying life insurance is a way to spread risk, and the United States, as the world's largest economy, is independent of the Chinese economy and is the best choice for those seeking to diversify their investments.
5. Excellent legal protection
Life insurance issued in the United States is strictly protected by US law. You should know that most laws in the United States are based on the protection of consumers as the original intention of the law, especially the insurance law. In contrast, insurance companies will not be allowed. Refused to claim because of ambiguity.
For example, life insurance issued in the United States has a “two-year non-defense period”. What does this mean? If the customer is insured, he or she has concealed his or her health or other information, such as heart disease. If the major illness does not inform the insurance company, if the customer dies within two years of the insurance, and the insurance company finds evidence in the process of claim settlement, it proves that the customer did not honestly inform the information that should be provided when the insurance was first insured. All premiums paid by the customer can be refunded, but no claims are required to be paid in accordance with the insurance coverage they originally insured.
However, if the policy has been in force for more than two years and the customer has died, the insurance company may not refuse to claim compensation according to the US regulations even if it finds evidence that the customer did not honestly inform the claim settlement process. In other words, in the case of the above situation, the insurance company must pay in full according to the amount of insurance that the customer insured at the time. This measure is to prevent the insurance company from seeking compensation for any reason because of the financial situation. This regulation can guarantee the rights of the insured.
6. Claims fast
The procedure for insurance claims is very simple in the United States, as long as you submit a death certificate and a death claim form to apply for compensation.