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| ．Now that almost everyone has insurance, do we still need to review the original policy regularly or buy other new policies ？ |
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Buying insurance is like buying shoes. The size and style must be suitable for you. Shoes may look inconspicuous, but they are very important. They not only protect our feet but also the entire body.
Buying a proper insurance is like buying a pair of good shoes. Good shoes can make us walk comfortably, move freely and walk for a long time, while proper insurance can make our financial planning more complete.
As you age, your financial situation improves, and your family responsibilities increase, your protection needs should be adjusted accordingly, so you need to review your insurance policy regularly and plan appropriate insurance. |
| ．Is it enough to have social insurance? No need to buy commercial insurance? |
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In fact, these social insurances can provide us with basic protection.
But when facing the three major financial risks in life：
1.Gone too early - Unfulfilled responsibilities to family
2.Living too long - what you need in your later years
3.Living Long but Poor and Sick - Prepare for Huge Medical Expenses
Social insurance subsidies are limited. Can they still meet our needs?
Therefore, we should always review our insurance policies and make timely adjustments to make our lives more secure! |
| ．What are the tax-saving features of insurance? |
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Insurance has two main tax-saving functions：
1.Insurance premiums - Austria, Denmark, Germany, Italy, Greece, Spain, Switzerland, Norway, Belgium, France, Luxembourg, Japan, the Netherlands, Turkey, Sweden, Portugal, and Taiwan allow insurance premiums to be deducted from taxable income for insurance that meets the prescribed conditions, thereby encouraging people to purchase commercial insurance.
2.Insurance claims - Life insurance death benefits Most countries have special provisions to fully or partially exclude estate tax. As stipulated in the Netherlands, if the insurance beneficiary is also responsible for paying the insurance premium, then he is tax-free. In the UK, death benefits are managed by a trust for other beneficiaries and are also tax-free. In the United States, policies where the insured is not the policyholder are tax-exempt. Since there is currently no inheritance tax in Hong Kong and Mainland China, the compensation will not be taxed. Insurance claims in Taiwan are not included in estate tax, but insurance beneficiaries are subject to the minimum tax system. The portion of death benefits received by beneficiaries of the same declaring household that is less than NT$30 million is exempt from inclusion in the basic income amount, and the portion exceeding this amount is included in the income tax.
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