Understanding and Advantages of Term Life Insurance

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Term life in life insurance or life insurance is one type of life insurance. In Indonesian, this coverage contribution is known to be a pure soul insurance dues.

This type of soul premium is less popular. Because, the deposited coverage dues will not be refunded when they are due. Coverage based on this coverage contribution itself will only be given in the heirs if the insured dies in the world during the period during the coverage dues period.

In fact, did you know, term life insurance dues or term life actually have an exclusive advantage, you know! Definition of Term Life Insurance?

Term life insurance or term life premium, synchronously using its name, is a type of insurance that provides protection at a time.

The concept is: The premium company will pay the sum insured if the risk of death occurs in the insured when the insurance is still running. Meanwhile, if you have a long life & past the premium maturity then there is no return. Whether it is the sum insured or the return of premiums.

This happens because in the contribution of life insurance term nir there is an element of savings or investment. As is the case in the contribution of life insurance unit link which is more famous in Indonesia.

If there is no insurance refund, baby, dong, the money? The concept of thinking for example seems to have to be dated first. No return does not mean you are losing money. Because, there are several advantages based on this type of coverage dues that will be very suitable for you and your family. Why Do You Need Term Life Insurance Aka Term Life?

There are several things based on the term life soul premium that will be suitable, especially for those of you who have a family. Here is an explanation of the advantages as well as the characteristics of term life insurance that you must know: 1. The coverage period is limited but…

The coverage period for term life insurance contributions is limited, generally only one year & a maximum of 20 years. Meanwhile, another type of life insurance, let’s call it whole life, provides coverage period up to the age of 99 years.

That doesn’t mean we don’t want to live a long life. However, based on BPS (Central Statistics Agency) shows that the number of biological expectations of Indonesians ranges in age from 69 years.

Not only that, in your 60s, your children actually earn. For information, the more outdated you pay the premium, of course, the greater the amount you must pay, right? While using a shorter duration, of course you pay coverage dues using a smaller total.

Well, instead of spending a lot of money for the actual coverage period is not so expected, then term life soul premium can be an alternative. Term life coverage contribution premiums are generally lighter than other life insurance

The short coverage period also has an impact on lighter insurance. In addition, because of this pure life insurance where some of the funds are no longer invested makes the premiums more affordable.

If anyone says the unit-link life insurance dues put a return at the end of the coverage dues policy period, the money is your own money.

So, instead of you being swayed by high premiums and finally not being able to have a soul premium, why not try another way? Yes, this term life insurance.

The light premium is especially suitable for you just pursuing a career. Or, for those of you who want to provide protection to your wife and children. If calculated, it turns out that the money you will inherit is much greater.

Term life premiums or term life insurance that is fairly affordable, it turns out to make much larger funds! How can it be?

For example, you reach for term life insurance with a premium of approximately Rp5.6 million per year for 20 years. The sum insured offered is Rp750 million.

If you count, during those 20 years, you actually “only” spent Rp112 million.

Meanwhile, for unit-link life insurance dues, using premiums is almost the same. Let’s say, Rp500 thousand per month. You have to pay for life. Which generally uses the coverage age provision up to 99 years.

In fact, the homogeneity of the average sum insured for unit-link is generally only approximately Rp250 million. For the return on insurance obtained from investment is actually uncertain. Because the number will follow the development of investments that can rise or even decline sharply.

Not that unit-link soul premiums are not worth buying. However, if you want protection for your family but want lighter insurance then term life coverage contributions are the best.

So, you at least don’t need to worry if you die. Because, your family will have financial collateral.

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