Life Insurance: Understanding, Benefits, Types, Requirements for Submission, and Tips for Choosing It –

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Edited byIrene Radius Saretta21 February 2022

There are so many unexpected things that can happen in life. Not only good things, bad things can also happen at any time without signs and exclusively changing a person’s life. Some examples are the risk of disease, layoffs, bankruptcy, accidents, and global death. 

Indeed, the events in the life earlier can not be completely avoided. However, you can permanently try to anticipate it by utilizing a financial product called insurance. Insurance itself has many types in sync with the usefulness and benefits expected by the owner.

One of the must-haves is life insurance that is able to provide financial protection to the families of customers who die globally. So, what exactly is meant by using life insurance dues? For those of you who are curious, check out the reviews about the meaning of life insurance, benefits, types, conditions of submission, & tips to choose the following. 


Life insurance is an insurance product that provides guarantees in the form of compensation or sum insured to the families of customers who have died globally, have accidents, fixed stigma, and other risks that are unintentional. Because of its work, this insurance product is important to have, especially for those who play a role in being the sole backbone in the family. 

The benefits of the soul premium can basically be felt personally by the owner, but in the heirs. Therefore, in anticipation of the risks listed in the financial product, this insurance is crucial to have so that the lives of beloved family members are still guaranteed even though they have been left behind by the main backbone of the family. 

The provision of compensation when the insured party dies globally using the amount of 100% or more of the sum insured.

The provision of stigma compensation remains total using nominal reaching 100% according to the amount of sum insured.

The provision of partial permanent disability compensation or loss of partial function of the limbs, such as, paralysed legs, using the total sum insured in accordance with the proportionality written on the premium policy.

There are 4 types of life insurance that are generally proposed by the citizen, including the following.


Term Life Insurance or Term Life

Provide protection benefits at a certain period of time that has been affected before. As a model, term life life life premiums will only provide protection benefits with a current term of 1, five, 10, 20, or a maximum of 30 years. With the benefits of protection at a limited time, this product is ideally chosen by people who need short-term protection and not a non-unit link type soul premium.

The advantages based on the type of term life insurance dues are porto premiums that are undoubtedly more affordable and can be adjusted to financial conditions. Even so, the Sum Insured or UP offered is quite high, reaching hundreds of billions, and providing additional protection benefits as needed, such as, fixed stigma compensation, critical illness, debt repayment guarantees, and so on. 

Life Insurance or Whole Life

As the name implies, this type of premium will put lifelong protection benefits to its customers. Depending on the policies & conditions of the service provider, whole life insurance can provide coverage until the policyholder is 90 to 100 years old. 

Some of the advantages of whole life soul premiums are life protection collateral & cash value benefits.

With the advantages earlier, whole lifeideal life insurance is chosen by customers who are preparing biological needs during after-duty and other financial plans. It’s just that the nominal dues for coverage based on this insurance tend to be expensive, even able to double that of term type insurance insurance.

Unit Link Life Insurance

Like other unit link type contribution products, unit link soul premium is a premium product that combines protection benefits according to a lot of risks and investment benefits. Because it combines two financial products at once, the insurance paid by the customer will be divided by an exclusive ratio to the benefits of coverage and investment contributions at once. 

With a more complete way of working, this type of premium can be cashed home when the customer never submits a protection claim. When one day you can pay a premium, customers can also divert some investment funds to pay it off. Of course, the profit from investment activities can be fully generated by customers without having to bother managing their capital. 

However, the disadvantage, the benefits of investment cannot be felt optimally because it must be cut porto insurance. In addition, the risk of loss due to investment can also affect the balance of coverage dues and reduce profits. 

Dwiguna Life Insurance

Offers protection benefits that come with savings. Like the previous type of coverage dues, this product will divide some of the insurance into savings accounts, and the rest will be allocated to insurance protection benefits. 

When choosing this type of premium, you can feel the advantages in the form of ease of disbursing premium funds before the duration or insurance period ends. In addition, if the customer is still alive until the end of the premium active period, all sum insured can be generated home. 

With these advantages, dual-use life insurance is suitable for customers who have long-term financial goals and are primary, such as, porto education and after-duty costs. However, for the shortcomings, nominal premiums tend to be more expensive, even able to reach the number of millions of Rupiah every month. 

Simple, here are some documents that need to be prepared for the submission of life premium products.

The insurance registration form that has been filled out.


Family card.

Birth certificate.

Choosing the best life insurance & synchronised needs needs to be done using carefully and through a number of considerations. Here are some suggestions you can follow.

Choose As Needed

The first thing that is crucial to consider when choosing life insurance is knowing the benefits of protection such as what is expected. Because, each type of insurance has its own advantages and disadvantages that need to be adapted using customer needs. That way, then you can get the best & optimal protection products. 

Check Financial Condition

No less important, you also have to check insurance insurance & adjust it to the ability to pay. This must be reviewed because the burden of this coverage dues must be repaid regularly every month. If the cost is too large, the risk of difficulty paying off premiums will certainly be higher & filing claims cannot be done when the payment falters. 

Research & Research product quality

The last tip, be sure to do research on the legality and trustworthy of insurance providers, including the quality of the products it offers. The trick is to check the business status at the OJK or the Financial Services Authority, and ensure that the quality of the product is not inferior to that of competitors. 

As one of the insurance contribution products that are important for everyone to have, life insurance can manage future risks by providing compensation to the family when the main breadwinner dies or experiences permanent stigma. Depending on the provisions of the policy, the sum insured can be very useful for families left behind in continuing their lives. That way, through this premium, you are able to claim the survival of the family continues to run well even though it has lost the backbone of the family.

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