When you are faced with a large selection of online soul premium products, you even have a headache of your own. Sometimes, don’t look for and find shortcuts. Do not risi gaes, Jadimin peel 7 differences in term and life insurance. Let you know the pioneers. Check it out!
A. Term life insurance
The name is also term life insurance dues, is this life insurance contribution has an exclusive current period. For example, in when five years, 7 years, 10 years, to 20 years.
Because there is a period of time on this soul premium, therefore there is a term, the name is term-life insurance. Although it has a certain period of time, the insurance nawarin permanent insurance and can be said to be affordable.
So, why is there a term life premium? This type of online life insurance is recommended for those of you who want to prioritize your own future or family. Especially for children’s education.
In addition, it is also suitable for those of you who have the need for large coverage dues costs, but the ability of the budget is limited. That’s why if you look for information about term-life insurance, you will target the same affordable life premium. Because it’s as affordable as it is gaes. Now go into more detail yuk!
1. Affordable premiums
Speaking of coverage dues, term life insurance dues are affordable. Therefore, this insurance is still the target of people because it is economical in the pocket, but the protection is aporisma.
two. Big sum insured
In addition to insurance you also need to know how the sum insured (UP). UP is the money you receive as a policyholder. Fyi, UP term-life insurance can afford up to billions of rupiah. Wow!
So please love the case. For example, you (the insured) died in the world during the period of the active premium contract. Well, with this term life insurance, your family will get a big UP. You could say, it will be lucky and rich suddenly if you get this.
3. There is still a lack of gaes
Although it has a fairly large UP value, but you can also lose the sum insured money that you have paid. That is, your premium is forfeited once the contract is completed if you are healthy (do not experience a health case) or you die until the contract is completed.
B. Life insurance for life
Different from term life premiums, this life insurance actually provides protection to you for life. But there’s a limit, it’s 100 years. Oh yes, there is a term loh, the name is whole-life insurance.
Life insurance for life is recommended for those of you who do not have dependents and want more benefits. So not only the compensation of death, but also others. Another advantage, this premium can be used as long-term savings or emergency fund savings. Let’s talk about it!
4. Double premium
Compared to term life insurance, life insurance for life actually has a greater insurance value. In fact, it can be more than 2 times.
If gini anyway, depending on your needs yes. There is a reason why the premium is high, because the number of life expectancy of indonesian people up to 65 years-70 years only. So, the possibility of claiming coverage dues before the protection period runs out is also high.
Oh yes, the dues that you have paid will not be forfeited if you do not claim. And if the contract has expired, UP is reversed to you entirely. But this depends on each insurance company! Definitely to check again, okay?
5. The types of policies are many
If you already have life insurance dues for life, try to get acquainted with the same types of policies. Starting from:
a. Exclusive policy (straight life policy)
In this policy, permanent insurance is paid for until the insured (you) die the world or you are 100 years old.
b. Limited-payment policy (limited-payment whole life insurance)
This policy is suitable for those of you who want life protection, but do not want to pay life insurance dues. So, the premium is paid right term when exclusive or a certain age.
c. The police do not follow the circumstances/ do not participate
It turns out that the policy can also not adapt or participate yes. Behind the name, it turns out that this policy applies if you (the insured) die globally & heirs of the basic UP with a limited number. So, there is no bonus based on the company’s dues coverage.
d. The policy follows the circumstances/participates
This type of policy is precisely the same for profit between you (the insured) and the premium company. But there is a record, there is additional insurance. So, you will receive an additional bonus every year.
6. Sum insured is able to return entirely
Finally, about the sum insured (UP). You will get UP based on the coverage dues you pay. And Somin had mentioned if you don’t claim, UP will be reversed entirely.
Sst, but back again the same type of police. And don’t be shy about wondering about the insurance party, agent, or insurance broker. Dig deep into the UP that you should be dapetin ya gaes!
So that’s 6 disparities in term life insurance and lifelong life premiums. Whatever the type, only you know which premium soul is beautiful and according to the needs. Check it out here! Follow also Instagram @jagadiri_id and dapetin premium education early. Spirit!