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Long term

Insurance terminology
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Long term refers to the life insurance, especially life insurance, which usually lasts for several years or decades, or even until the death of the insured. As a result, life insurance is different from property insurance in terms of premium calculation, solvency calculation, reserve for liabilities and capital utilization, and national supervision. [1]
Chinese name
Long term
Definition
Property insurance with shorter insurance period
The insurance period of life insurance, especially life insurance, often lasts for several years or decades, some even until the death of the insured. As a result, life insurance is different from property insurance in terms of premium calculation, solvency calculation, reserve for liabilities and capital utilization, and national supervision. According to different standards, life insurance can generally be divided into life insurance, personal accident insurance and health insurance; Secondary benefit insurance and installment benefit insurance: personal life insurance Group life insurance And joint life insurance.