Life Insurance Must You know – This time we will specifically discuss about life insurance. Do you already know what it is life insurance? Life insurance is a contract between you as the policyholder or insured by the insurance company as an insurer in which the insurance company will pay a nominal amount of money if there is risk of death to the insurance policy holders. You as the insured is obligated to pay a premium that will be helpful to provide a replacement for the risk of your death. In other words, life insurance is a type of insurance that aims to cover people against unexpected financial losses, caused by the insured dies.
Life insurance can be purchased for its own sake and on behalf of the insured alone or purchased for the benefit of a third person. For example, a husband may buy life insurance with the wife as the insured, or parent can also buy life insurance for his son as the insured. There are several types of life insurance, but before discussing about the types of life insurance, you should know in advance some of the reasons why life insurance is so important to you.
Why Need to Buy Life Insurance?
Top Reasons Why You Should Have Life Insurance
Top Reasons Why You Should Have Life Insurance via kentuckymarineinsurance.com
1. For Protection Against Loss of Earnings for Family
Nobody knows what will happen tomorrow, including you. To anticipate affected you and leave you nafkahi family forever, you need to purchase a life insurance policy so that your family can get the sum assured for life after you leave.
2. As above Protection Risk Dies as a Result Diseases Leading Cause of Death
Based on a survey conducted by the World Health Organization (WHO) in 2002, the 10 leading causes of death in Indonesia is coronary heart disease, tuberculosis, vascular disorders, respiratory diseases, diseases of the newborn, lung disease, traffic accidents, diabetes, blood high, and diarrhea. These diseases is quite common, so it is important for you to have protection against the risk of contracting these diseases and died.
3. One Way or Pathways Retirement Savings
Savings in life insurance is the best alternative choice for your long-term needs because of the nature of premium payments on a regular, mandatory, and not easily retrieved at any time.
Also Read: 4 Reasons Why Life Insurance Important For You
Types of Life Insurance
There are several types of life insurance products that would each have different benefits. The types of life insurance is intended to serve various needs, abilities, and purchasing power. Please observe any of the following types of life insurance:
1. Term Life Insurance (Term Life Insurance)
Term life insurance or term life insurance function is to provide protection to the insured within a limited period only. Life insurance is usually offered a contract for 5, 10, or 20 years, with a fixed premium, and cost accounting.
It is recommended selecting this type of life insurance if you put your family’s future, especially the education of children. Suitable for those who have a need for a large insurance costs but have limited financial capabilities.
If you choose this life insurance, some benefits are:
You as the policyholder get freedom in determining the amount of the premium according to your ability.
Insurance money that you can get as a policyholder could reach billions of rupiah. That is, if the insured died during the contract period is still active, then the family of the insured will get a sizable sum.
While the shortage of this type of life insurance is:
Insured could lose the premiums that have been paid or forfeited premium once the contract is completed, if not experienced health problems and death up to the completion of contract period.
2. Life Insurance (Whole Life Insurance)
Life insurance type of life or whole life insurance provides lifetime protection, although typically, insurance companies limit the protective benefits until just 100 years.
Life insurance is recommended for those who do not have dependents and want the benefits are more than just a death benefit, or you are interested in the idea of long-term savings. So, if you want protection soul as well as savings for emergency needs egpay for hospital bills, you can consider buying a life insurance policy ini.Keuntungan types of life insurance of this type are: Policyholder possible to obtain the present value of premiums already dibayarkan.Apabila you as the insured is unable to pay installments regular premium, you can use the cash value of the premiums already paid for insurance selanjutnya.Premi pay the premium that was paid will be forfeited if no klaim.Saat contract expires, the sum insured will be given seluruhnya.Sementara the drawbacks are: the premiums are greater than the insurance premiums term life, can even reach more than twice as much. The reason for this is the high premium because the life expectancy of Indonesian people is only 65 years for men and 70 years for women, so the possibility of an insurance claim before the period of protection expires tinggi.Nilai more cash than total premiums already paid is not too large for flower for this insurance is usually only amounted to 4% per year, and this figure has not cut pajak.3. Life Insurance Dwiguna (Endowment Insurance) Type of life insurance or endowment insurance endowment is as the name suggests is the insurance which has two benefits, namely term life insurance as well as savings. This means that you as a policyholder can obtain cash value of the insurance premium that was paid in the form of the sum insured if the insured dies within a specified period in accordance with the policy of the insurance policy in question and may also withdraw the insurance policy within a certain time before the contract of this kind soul berakhir.Asuransi recommended for those who prefer to ensure the availability of funds for children’s education, want to have the funds for unforeseen needs in the future, and would like to have more besar.Keuntungan pension funds of life insurance of this type are: As mentioned above, you can this life insurance policy claims before the contract expires, for example, to fund your child’s education. However, withdrawals can only be done once in a period of several years in accordance with the agreements that have been made.If eg you as the insured is still alive when the time period is over, you will get all the money pertanggungan.Sementara the drawbacks is: Because this type of life insurance two benefits, which is like combining the benefits of a term life insurance with life insurance, so the premium is large enough, can reach millions of rupiah per bulannya.4. Life Insurance Unit LinkAsuransi soul type of this link unit combines the benefits of insurance to investment, and most often offered by insurance agents. If you are interested to invest but do not know about investing and want to continue to ensure the soul you still have the benefit of protection from death, you can choose the type of life insurance life insurance ini.Keuntungan of this type are that as the policyholder not only getting but also the guarantee of protection investment returns with relatively high interest every tahunnya.Sementara disadvantages are: return on investment less significantly behind when compared to pure investment like stocks, money market, or mutual funds. If you are looking for a large profit from the investment, you should not rely link.Uang insured life insurance unit to be acquired is low, especially if the investment fails or only produces benefits kecil.Teliti Before MembeliPerlu you remember that before you buy a life insurance policy, you are advised to seek as much information and comparing quotes from several insurance companies for example relating to the protection offered and the amount of premium that you pay for, and adjust to your ability. Consider also the number of your dependents and any funding needs that will arise in the future in choosing this type of life insurance. The bottom line is you need to do careful planning in accordance with the needs before selecting a life insurance product you want to buy, so that the benefits of protection you get from the insurance product is optimal. Remember, the principles carefully before buying also apply for a life insurance product that you do not feel disadvantaged.
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