Life Insurance – Understanding, Characteristics, Functions, Types & Benefits

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Life Insurance – Understanding, Characteristics, Functions, Types, Benefits, Evenemen & compensation – For this discussion we will put a review of Life Insurance which in this case includes understanding, characteristics, functions, types, benefits, evenemen & compensation, well to be more able to know and understand see the full review below.

Life insurance is a contribution to coverage that aims to cover people against unexpected financial losses caused by death too soon or their lives are too outdated. Or the definition of a life premium is a contract agreement between the policyholder and the insurance company or insurer where the premium party promises to pay the nominal money if there is a risk of death to the premium / policy holder.

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There are several characteristics according to the contribution of life coverage are as follows:Coverage Period, which is generally more than 1 year, except for travel policies or riders from a short-term policyThe Object of Coverage, namely the human soul and the human physiqueRisk Borne, namely death, disability, porto treatment, loss of incomeLife Insurance Function

The functions according to the soul premium are as follows:Protection Media

Provide compensation to heirs when the insured dies globally in the coverage period.Investment Media

Provide compensation to heirs or policyholders when the insured remains alive until the exclusive age or until the end of the coverage period. Types of Life Insurance Policies

Life insurance has various types of products where each type of product has good benefits, various types of life insurance contribution products are aimed at serving various needs of the ability and purchasing power of citizens.Term life insurance “Term” is a policy that is the simplest and the cheapest, this policy is generally taken for an exclusive period of time for example between 10, 20 or 30 years. The goal is to provide temporary needs such as children’s education, home, mortgage payments and so on. The types according to this product are suitable for those of you who have a need for large coverage dues costs but only have limited purchasing power.”Whole Life” lifetime life insurance is one basic type of Permanent Life Insurance that provides lifelong insurance protection for a person. If you want more benefits according to just death compensation or you who like long-term savings money. If you want life protection while having savings for emergency needs, for example porto, sick housing bills. Or if you want to get investment capital growth you can consider buying this insurance policy. However, be prepared to pay higher coverage dues according to life insurance term.Dwiguna Life Insurance “Endowment” means a type according to the life premium that puts 2 profits at once. The first benefit is in the form of receiving a certain amount of coverage if the insured dies globally / died in a certain period of time in sync using the insurance policy policy that you purchased. The second if the insured is still alive when jangkwa when it ends, the insured will get all the sum insured.

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Before you buy a life insurance contribution policy, then you are advised to look for more information or as much as possible in some insurance contribution companies, then you compare the protection provided with the coverage dues that must be paid. Also need to be considered, how many poly family members are your dependents and inventory the expected educational needs for your child. Benefits of Life Insurance

Well here are some of the benefits of life premiums, namely:Realizing unexpected risks, anyone will not be able to anticipate or assume the occurrence of a disaster in your family. With premiums, protection can be obtained as a result will feel lightening.Your family will be more assured, if at any time something happens in the family, because there is a “reserve fund” which is a claim for coverage dues that can be used to help the family.Many things that can be prepared, such as children’s education, monthly family expenses, to a lot of routine needs, generally helped using bailout funds that have been prepared based on the life insurance contribution scheme.Various kinds of facilities make it easier to get through life insurance, especially now poly life insurance contributions are combined with various other types of planning that can be pioneered in difficult times in the future.Reassuring your mind for the future, especially for those who become the head of the family, the existence of life insurance contributions can make the mind more calm because there will be a soul reserve fund to happen something later. And that way the work can be more silent & also the result will be more aporisma.Evenemen on Life Insurance

In Article 304 of the Kuhd which regulates the contents of the policy, there is no provision to include the events in the life insurance contribution policy is not in sync with the loss coverage contribution, Article 256 paragraph (1) of the Kuhd on the contents of the policy requires the inclusion of hazards that are the burden on the insurer. Why is there no need to list the sumpnya as a burden on the insurer on the life insurance contribution policy?

In the life insurance dues referred to as hahaya is the death of a person whose soul is insured. The death of a person is a sure thing, every living creature must experience death. However, when the death of a person cannot be ascertained. It is the one that is considered an incident not necessarily (evenemen) in the premium of the soul.

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This event is only 1 (one), which is uncertain when to leave a person as an error of one element expressed in the definition of life insurance contributions. Because this event is only 1 (one), then it is not necessary to be included in the policy. Uncertainty when the death of an insured person or person whose soul is insured is a risk that is a burden on the insurer on life premiums.

The event of the death of the insured is side by two (two), that is, the death actually occurs in the period when the dues are insured, & really does not occur until the term when the coverage dues expire. Both become a burden on the insurer. Compensation Money & Returns

Compensation money is a sum of money that must be paid by the insurer to the connoisseur in the event of the death of the insured in accordance with the conventions stated in the policy. The connoisseur in question is a person appointed by the insured or a person who as an heir becomes entitled to and enjoy the compensation of a certain amount of money paid by the insurer. Payment of compensation is the impact of the occurrence of events, namely the death of the tertanqgung in the term when life insurance applies.

However, if until the end of the term when life insurance does not occur the event of death of the insured, then the insured becomes a party to the life insurance contribution, entitled to get a refund of a certain amount of money and the insurer whose amount has been determined according to the agreement in this case there is a difference using loss asuraransi.

In loss insurance if the coverage contribution ends without an event, the premium remains as the right of the insurer, while in the life premium, the insurance that has been received by the insurer is considered as savings returned to the saver, namely the insured. Life Insurance Ends

Consists of:Because there is an evenemen

In the soul premium, the only event that as a burden on the insurer is the death of the insured. It was against this event that life insurance contributions were held between the insured and the insurer. If in the period when the promised event occurs the death of the insured, then the insurer is obliged to pay compensation to the connoisseur appointed by the insured or to his heirs. Since the insurer paid off the payment of the compensation, since then also the life premium ended

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