Life insurance has different benefits. Therefore, there are several types of life insurance that we need to know.
Life insurance has different benefits. Therefore, there are still several types of life insurance that we need to know. Let’s look at these types of life insurance contributions. Types of Life Insurance You Need to Know1. Term Life Insurance (Term Life Insurance)All term life premium products provide coverage for one exclusive period of time which is considered the term when the policy term . The benefits of this premium policy can be paid only when:(1) The insured dies in the period when it has been established, and(two) the police are still in force when the Insured dies globally.If the Insured is still alive until the end of the specified period of time, then the policy will put the right to the policyholder to continue life insurance coverage. If the policyholder does not continue the coverage earlier, then the policy will end and the premium company is not obliged to provide further coverage.
The types of term life insurance coverage are:a.Term Life Insurance With Fixed Sum Insured (Level Term Life Insurance) is to put the death benefit at the same amount during the term of the policy earlier.b.Term Life Insurance With Decreased Sum Insured (Decreasing Term Life Insurance) is to provide death benefits whose value decreases during the term when coverage. The benefits of this policy begin using a predetermined coverage value and then decrease during the term when the coverage is appropriate using the method described in the policy.c. Term Life Insurance With Increased Term Life Insurance (Increasing Term Life Insurance) which provides a death benefit that starts at a value and increases using a certain value or percentage at predetermined intervals during the term of the policy. Life Insurance (Whole Life Insurance)This insurance has 2 (2) characteristics, namely:1.Provide life insurance to the Insured as long as the policy is still valid (in force); and2.Provide coverage dues coverage and contain savings elements.
The types of life insurance coverage are:a.Traditional Life Insurance (Traditional Whole Life Insurance)This type of coverage contribution puts lifetime coverage with a fixed insurance rate (premium rate) that does not increase in line with the age of the Insured.b.Last Survivor Life InsuranceThis type of premium is also claimed as second-to-die life insurance, which is a type of combined life insurance where the policy benefits are only paid after the 2 insured people of the policy are killed. This life premium premium is only paid until the first Insured dies or the coverage dues can be paid up to 2 Insured dies. This insurance is specially designed primarily to provide coverage to married couples who want to have funds to pay estate taxes (estate taxes) imposed after they are killed globally.c.Combined Life Insurance (Joint Whole Life Insurance)This type of insurance has the same features and benefits such as life insurance contributions for individuals except that this coverage contribution covers two lives on the same policy, often called first-to-die life insurance because of the completion of the error death of one of the Insured, the death benefit in the policy will be paid to the surviving Insured and the policy coverage ends. Dwiguna Life Insurance (Endowment Insurance)This type of coverage contribution provides an exclusive amount of benefits whether the Insured is bioaccounted for until the end of the term when coverage or dies during the current term of coverage. Each dual-use life insurance contribution policy has a maturity date, which is the date of payment of the insurance company’s sum insured to the policyholder if the Insured is still alive. The maturity date will be reached at the end of a period when it has been set, or the time the Insured reaches the established age. Unit Link InsuranceUnit link insurance is a premium that combines the benefits of insurance with investment. The premiums paid will be allocated to two separate management mechanisms, namely basic insurance management for the benefit of protection and management of investment premiums. Investment Premiums are managed by the investment manager or investment expert of the company. By buying unit link products, an Insured person can get the benefits of insurance protection as well as the return on investment unit link products in Indonesia are generally held by life premium companies.That’s the types of life insurance that still exist in Indonesia, relatively varied, right? Of course, it is necessary for us not to forget that before buying a life premium policy, you must first understand the life insurance contribution product to be chosen. In addition, make sure also that the insurance contribution company you choose has been registered and supervised by the OJK so that You Attitudei do not experience the desired loss.BNI Life Plan Multi Protection is the perfect solution for those of you who want to meet various individual and family needs, by claiming the availability of funds in the future through flexible premium payments. Also equipped with additional premiums to meet your needs