Death is full of secrets and cannot be predicted to come. As an individual, all that can be done is to prepare yourself if death arrives to pick up.
Many forms of preparation can be done, for example by ensuring the family we leave permanently safe and fulfilled in terms of finances. This can be done using registering as a life insurance participant.
Life insurance is a protection for the families of participants in the insurance policy holder in the event of death. Life insurance allows the families of insurance policy participants to receive financial security and protection for abandoned families.
In general, participants who register to become life premium customers will pay premiums that are affected periodically. Later, when the participant died globally, the money was given to the family left behind into sum insured (UP).
Although life coverage contributions have a high level of urgency, in fact, referring to the research data compiled by the “Manulife Investor Sentiment Index 11” in 2017 indicates that only 1% consider the importance of life insurance.
Here are some types of life insurance:
1. Term life insurance (term llife)
Term life insurance is life protection at an exclusive time that has been agreed upon by the participant and the insurance company. Generally, this type of insurance coverage dues is paid in advance & scheduled every year.
This type of life insurance has risks, for example, if the policy is not active (lapse) then the benefits will stop & the premium will be forfeited. This type of insurance that is not uncommon is credit life insurance dues that provide life insurance protection during the credit period. If the participant dies, the insured will pay off the loan residue to the debtor.
2. Life insurance for life (whole life)
Generally, life insurance contributions provide protection until the insured is 99-100 years old or uses other terms for life. The premium rate to be paid is permanent and does not increase.
For example, the policy is no longer active until the insured dies globally, participants of the coverage dues still get the promised cash value by deducting the costs of -porto policy closure and payment of coverage dues in arrears on whole life insurance contribution products.
3. Dual-use life insurance (endowment)
This life insurance provides double benefits in the form of life protection as well as savings. By using this dual-use life insurance dues, participants will get definite coverage dues protection as long as the insured lives until the due date or dies before the release. Unlike the lifetime life premium, this type can build cash value faster.
4. Unit link life insurance
In addition to the refund of the sum insured, link life insurance policyholders will also receive additional investment output.
Here are some benefits that can be obtained if you register to become a customer of soul premium:
1. Protection according to the risk of death
This is a generic benefit that can be received by the insured from the many risks of future disasters, for example, the head of the family died as a result of an accident so that he lost his livelihood.
two. Maintaining the survival of a family or heir
This insurance also provides benefits in the form of family survival protection or heirs when the family no longer has a livelihood. Insurance is here to provide financial support that can later be used by the insured family to meet biological needs.
three. Partial disability compensation as well as total stigma
Providing protection based on the risk of partial stigma is also fixed. The insurance party will pay the benefits of the agreement’s synchronous coverage dues. Furthermore, the coverage dues will end if the insured is subjected to total stigma due to accidents.
4. Help with financial management
Directly, participants will be asked to disclose their money to pay life insurance coverage dues in a planned manner. This fund is managed as a form of protection for you and your family in facing emergencies.
five. Additional benefits of investment
For unit link life insurance contribution products, the premium paid is only allocated for coverage contributions only, but also receives life premium benefits in the form of investments.
6. Help achieve the target of education costs
No one can be sure, until when parents can pay for their children’s education. To prevent this, life insurance is present so that participants get porto coverage for children’s education costs in the future.
In addition to receiving life protection, dual-use life insurance contribution products & unit links help policyholders to accumulate after-duty preparation funds.
Here are some recommendations of life insurance companies in Indonesia:
The advantages that are commonly obtained when choosing Prudential means that the life insurance premium porto is fairly cheap and can be adapted to the ability. Then, fund management is carried out professionally, fast service, poly additional products, stable investment value, and premium agents who are ready to target customers when making claims.
While the deficiency according to Prudential coverage contributions is the term when the payment of coverage dues is outdated, the provisions on claims are also quite strict, and there is no tolerance if there is still a lack of documents when claiming dues coverage.
There are several advantages that you can feel if you have Allianz as a life insurance contribution company. Allianz has a relatively high level of solvency in paying claims. In addition, this company has good service, affordable premium options, and fast filing and payment of claims.
But Allianz also has some weaknesses, such as the absence of collateral returns from investments and clearer claim conditions.
Manulife has a vision & mission to realize the dream of customers can live using well. With this customer-centered vision and mission, manulife demands to continue to put the best life insurance services and inventions and the best health insurance that is in sync with needs and for long-term protection.
This premium company that is quite popular has several advantages, including the products offered can be trusted because it is an experienced and trusted company. AXA Mandiri also provides additional insurance that is relatively complete, and there is still a large selection of coverage contribution products that the customer can choose from.
AIA not only provides general insurance, there are also other religious insurance products that customers can choose. As a model of personal accident insurance, health premiums, as well as investments. There are also coverage contributions for employees, life premiums, as well as pension plans and severance funds.
Interestingly, AIA’s soul premium, previously named AIG Life, is a company that introduced bancassurance to Indonesia in 1990.