Why should universal life insurance be considered in young people's financial plans?

Accordingly, universal insurance is a solution that many Millennials are interested in today because it provides comprehensive protection with life insurance and health care benefits; at the same time, it combines financial accumulation with guaranteed long-term interest rates.

Youth is the “golden time” to participate in insurance

There are many advantages to taking out insurance at a young age. With the same level of risk protection, Millennials have the opportunity to take out insurance with a lower annual premium than previous generations. Moreover, Millennials also have the opportunity to be protected more comprehensively because health problems do not appear at this stage.

In addition, when buying a life insurance package at a young age, the investment amount also has a longer time to generate profits. Therefore, the maturity benefit that can be received at the end of the contract term is also larger than if investing from the age of 20-30.

The flexibility and comprehensiveness of universal life insurance

Along with the advantages of participating in insurance, young people's financial plans often change according to major life events such as marriage, childbirth, preparing for children'seducation , etc.

Joint insurance helps young people increase or decrease the insurance amount, change insurance benefits and flexibly pay premiums.

For example, when the insured gets married and has children, the financial responsibility and the need to protect the breadwinner increase. At this time, the customer can request to increase the insurance amount to optimize the protection benefits against risks for the whole family.

At the time of initial participation in insurance, there are many reasons why participants have not purchased some additional benefits. In later years, due to arising needs, they can purchase these additional benefits.

One of the advantages of the joint product is the flexibility of the premium payment period. This means that only in the first few years, customers must pay the full premium to establish the contract. In the following years, the premium payment is completely proactive. When facing economic difficulties, participants can completely reduce the premium payment or temporarily stop paying the premium as long as the conditions for maintaining the validity of the contract as well as the customer's protection and accumulation plan are still ensured.

In addition, customers can also pay additional insurance premiums for the investment portion to increase the profits achieved through the insurance company's universal fund. Some universal insurance products can be considered a form of safe long-term accumulation such as the 'Happy Start' product with special contract maintenance bonuses of up to 550% of the annualized insurance premium.

Safe investment solution

Universal life insurance is a very suitable financial solution for young people who value certainty in today's volatile world . In addition to the benefit of enjoying the entire investment results when the market is up, universal life insurance also has a commitment to a minimum profit level, playing a role in preserving the account value for customers when the economy is difficult. This is also a tool to create passive income for customers' future goals.

'Happy Start' solution package with protection benefits up to 600% of the insurance amount

As an insurance solution package aimed at young people, 'Happy Start' has just been launched by Manulife Vietnam, providing many protection benefits of up to 600% of the insurance amount against the risk of death due to accidents; easing worries with support money against terminal cancer; or safe accumulation in the long term with attractive special bonuses of up to 550% of the annual insurance premium.

In addition, when purchasing the Healthy Living Every Day supplement product, customers can also enjoy free online health care benefits up to 5 times/month on the ManulifeMOVE app.

Learn more about the product via hotline 19001776 or visit the information page at: https://www.manulife.com.vn/vi/bao-hiem-nhan-tho/bao-hiem-tron-doi/khoi-dau-hanh-phuc.html

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