financialtreat – will explain about Come on, See the Types of Insurance and Their Benefits! which you will find in the following article. let’s look at this article carefully!
Hi, Buddy How are you? Hopefully, in the midst of a pandemic, all of you in a situation are fine and healthy. In the midst of the emergence of the current pandemic, health is certainly a very important thing to get more attention. For this reason, globe life insurance is needed, of course, it can help you when you are feeling difficulties relate to health.
But also keep in mind, buddy, health is not only important to pay attention to during a pandemic, buddy! but in any setting it is important to keep listening to health. Often unwante things can happen unexpectedly to our family or ourselves, for example, getting a critical illness to an accident that could have cause death. Globe life insurance can be utilize for health purposes.
Come on, See the Types of Life Insurance and Their Benefits!
Well, to anticipate financial losses that arise from the implications of the situation, you can buy a life insurance policy so that you can get the sum insure. Life insurance is a contract agreement between the policyholder (insure) and the insurance company (insurer).
Where the insurance company promises to provide payments base on the death of the insure or payments base on the life of the insure with benefits whose amount has already been determine and / or base on the results of fund management.
This insurance will protect the insure from the influence of unexpecte financial losses cause by a person if they experience sudden death, stigma remains all over, or an unproductive atmosphere (Very old or their life is really long) in order to have an impact on losing their source of income.
Life insurance has different benefits. Therefore, there are several types of life insurance that you need to know. Let’s look at the following types of life insurance carefully:
1. Term Life Insurance
All term life insurance products provide additional coverage for one exclusive period of time calle the policy term. The benefits of this insurance policy can be paid only if:
(1) The insure dies within the stipulate period of time, and
(2) the policy is still valid (In force) when the Insure dies.
If the Insure is still alive until the end of the predetermined period, then the policy will give additional rights to the policyholder to continue life insurance coverage. If the policyholder does not continue the coverage, then the policy will expire and the insurance company is not oblige to add further coverage.
The types of term life insurance coverage are:
a. Term Life Insurance With Fixe Sum Insure (Level Term Life Insurance) which adds death benefits in a similar amount during the term of the policy.
b. Term Life Insurance With Decreasing Term Life Insurance is providing death benefits whose value decreases during the coverage period. The benefit of this policy begins with a predetermine coverage value and then decreases over the period of coverage adjuste to the method describe in the policy.
c. Term Life Insurance With Increasing Term Life Insurance, which is to add a death benefit that starts at a value and increases with an exclusive value or content at a predetermine interval during the policy period.
2. Whole Life Insurance
This insurance has 2 (two) characteristics, namely:
1. Provide life coverage to the Insure as long as the policy is still valid (In force); and
2. Provide insurance coverage and have an element of savings.
The types of life insurance coverage for life are:
a. Traditional Whole Life Insurance
This type of insurance adds whole life coverage with a fixe insurance coverage contribution rate (Premium rate) that does not increase along with the increase in the insured’s age.
b. Last Survivor Life Insuranc
This type of insurance is also referre to as second-to-die life insurance, which is a type of combine whole life insurance where the policy benefit is only paid after the two insureds of the policy die. This life insurance coverage contribution is only paid until the first Insure dies or the insurance coverage contribution can be paid until the second Insure dies. This insurance is specifically designe primarily to provide additional coverage to marrie couples who want to have funds to pay estate taxes that are charge after their death.
c. Joint Whole Life Insurance
This type of insurance has the same features and benefits as whole life insurance for individuals if this insurance covers two lives in the same policy, often calle first-to-die life insurance because after the death of one of the Insureds, the death benefit in the policy will be paid to the surviving Insure and the policy coverage ends.
3. Dwiguna Life Insurance (Endowment Insurance)
This type of insurance provides an additional amount of exclusive benefits whether the Insure lives until the end of the coverage period or dies during the coverage period. Every dual-purpose life insurance policy has a maturity date.
(Maturity date), which is the release of the payment of the sum insure by the insurance company to the policyholder if the Insure is still alive. The maturity will be reache at the end of a predetermine period of time, or when the Insure reaches a predetermine age.
4. Unit Link Insurance
Unit link insurance is an insurance that combines the benefits of insurance with investment. The insurance coverage contributions paid will be allocate into two separate management procedures, namely the management of basic insurance coverage contributions for protection purposes and the management of investment insurance coverage contributions.
Investment insurance coverage dues are manage by the Investment Manager or the company’s investment experts. By purchasing a unit link product, an Insure person can get insurance assistance benefits as well as returns on investment Product unit link in Indonesia generally held by life insurance companies.
Well, buddy, those are the types of life insurance found in Indonesia, quite varie, right? Of course, it is necessary for you to remember that before buying a life insurance policy, you are oblige to first understand the life insurance product to be chosen. Not only that, also make sure that the insurance company you choose has been registere and supervise by the OJK so that you don’t experience unwante losses.
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Life Insurance Benefits
Here are some of the benefits that can be obtaine if you register as a life insurance customer:
1. Protection from the Risk of Death
This is a common benefit that can be receive by the insure from various risks of future disasters, such as the head of the family dying the implications of an accident in order to lose his livelihood.
2. Maintaining Family Survival or Heir Expert
This insurance also provides benefits in the form of family survival support or heirs while the family no longer has a livelihood. Insurance is here to provide financial assistance that can later be use by the insured’s family to meet the needs of life.
3. Partial Stigma and Stigma Compensation
Provide additional provision from the risk of partial or permanent stigma. The insurer will pay the insurance benefits according to the agreement. Furthermore, insurance will end if the insure experiences a stigma of all the implications of the accident.
4. Assist in Financial Management
Indirectly, participants will be aske to set aside their money to pay life insurance coverage contributions periodically. This fund is manage as a form of support for you and your family in facing emergency times.
5. Additional Investment Benefits
For unit-linke life insurance products, the insurance coverage contributions paid are not only allocate for insurance, but also get life insurance benefits in the form of investments.
6. Helping to Achieve the Target of Education Costs
No one can be sure, how long parents will be able to pay for their children’s education. To hinder this, life insurance is present so that participants get coverage costs for the cost of children’s education in the future.
7. Retirement Preparation
Not only does it get life support, dual-purpose life insurance products and unit links help policyholders to accumulate pension preparation funds.
Well, those are some reviews that discuss about globe life insurance by having insurance You don’t need to think about financial problems and thank you.