What Are The Facts About Life Insurance? Let’s Learn It Together!

financialtreat – will explain about What Are The Facts About Life Insurance? Let’s Learn It Together! which you will get in the following article. let’s look at this article carefully!

Life insurance is a guarantee of life welfare that is quite important. Unfortunately, there is still a lot of news that is still confusing about this type of insurance, so many people are hesitant to use it. In order not to hesitate to take this insurance, first know the myths and facts about insurance.

The definition of life insurance is a type of insurance that aims to distance oneself from material losses due to the risk of death. Therefore, it is very important that you understand the correct and valid information about insurance. The myths and facts about insurance are as follows:

What Are The Facts About Life Insurance? Let’s Learn It Together!

1. Having Life Insurance is the Same as Expecting Disaster

Have you ever heard someone say that having life insurance is tantamount to expecting a disaster to come? It should be underlined that insurance is owned not because you expect disaster to come.

In fact, this is an anticipatory step so that there will be no bad impact after you die later. Granted, no one knows when death will pick up, but you can still anticipate the calamity that is likely to happen afterwards.

Arguably, life insurance is a financial planning that is very important for everyone to have. Especially for those of you who work in an environment that has a high risk.

2. Insurance for Life Protection Only

Is it true that insurance can only be used to protect lives because of death? In fact, life insurance is not only useful when death occurs.

Although the main benefits can be obtained when death occurs, life insurance can also accommodate medical costs due to death up to funeral expenses, depending on the type of protection and insurance benefits chosen.

3. Insurance Only For Parents

The myth is that life insurance is only intended for the elderly or people who are already working. So, young people do not need to use this type of insurance. In fact, the risk of illness, accident, or death can befall anyone, including young people who are single and healthy.

Moreover, there are not a few young people who live a consumptive life, so they have a debt burden such as pay later or credit cards. By having life insurance, the family left behind can avoid the obligation to pay debts.

4. Housewives Don’t Need Insurance

This myth is most often considered in social circles. Then, is it true that housewives do not need insurance? In fact, Housewives are ordinary human beings who have a risk of getting sick or accidents at any time.

Although there is still a husband who bears the cost of treatment, we cannot predict the future. What if it turns out that at the time of the death, it turns out that the husband did not have the preparation of expenses for the hospital and funeral? Therefore it is very important to anticipate this worst possible outcome.

5. Expensive Insurance Premiums (Life Insurance)

The next myth and fact about life insurance is that the price of insurance premiums is expensive and cannot be owned by all levels of society. In fact, life insurance has a variety of premium costs that can be adjusted to everyone’s needs and abilities.

You can pay premiums per month, per semester, or per year. Anyone, no matter their educational background or occupation, can still have life insurance with a payment method according to their financial condition.

6. Complicated Insurance Claim Process

The myth is that the life insurance claim process is not easy, and even tends to be complicated by the insurance manager. In fact, there are many insurance companies in Indonesia that have an easy claim process.

In fact, some insurance companies implement an easy procedure, namely the party who claims that does not need to send physical documents because of the availability of online access.

7. Insurance Products Are All The Same (Life Insurance)

Myths and facts about life insurance in the next society, namely that all insurance products are the same. As is known, today there are many insurance products offered by insurance service providers, ranging from vehicle insurance, education insurance, work insurance, and others.

So, are the various types of insurance not the same as life insurance? In fact, life insurance products have their own benefits and advantages when compared to other insurance products.

As mentioned a little above, that life insurance product is available in various costs and premiums, so it can be selected according to the needs of each user.

8. No Need to Buy Insurance If You Already Have Office Benefits

Does a person not need to use life insurance if they have received benefits from the office? In fact, no one can predict whether a person can still work continuously in an office and get those benefits.

If the office where you work provides health benefits for a year, for example, one month’s salary, then the allowance is an incentive for you. Usually, the office does not provide insurance facilities for employees whose service period is under one year.

Also, think about the possibility that you get a chronic disease that costs a lot more than the protection provided by the office. That’s why you need to have life insurance personally to protect against future financial hardship.

9. No Need for Insurance because You Already Have BPJS

BPJS is a must-have insurance, but the presence of private insurance can provide a more soothing guarantee for you and your family. Sometimes, to be able to claim the benefits of BPJS, it takes a long time because you have to wait in line.

In order to get a referral, even BPJS participants sometimes have to go back and forth several times. Imagine if your elderly parents had to wait in line for a long time. This is certainly a burden on the mind, right?

From the above, it can be known that myths and facts about life insurance. which is still interchangeable in the community has been answered in detail. Now, you don’t need to hesitate anymore if you want to use a life insurance product with a premium that suits your needs.

Life insurance is often underestimated by many people because it is considered to only consume a monthly budget. In fact, this type of insurance intends to prevent a person from financial losses when experiencing health problems and the risk of death.

Today there are a variety of insurance companies that provide life insurance products. As a result, there are many people who are even confused about voting. So, how to choose the best life insurance? Here are the tips you can apply below!

Adjusting to Your Needs

The main tip that you should do when considering an insurance product is to adjust to existing needs. Currently, there are various insurance products offere with different benefits. Choose a product that really suits your needs, for example life insurance benefits for critical illness insurance, children’s education costs, or old age insurance.

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Budgeting For Insurance Appropriately (Life Insurance)

For those of you who want to have a self-protection product for the first time, budgeting exactly for the product is a tip that is no less important. This step aims to ensure that the insurance budget does not interfere with other needs. Therefore, it’s a good idea if you choose insurance with relatively low premiums with maximum benefits.

Understanding the Benefits and Amount of Sum Insure

In order to budget for insurance appropriately, you need to understand the benefits of the product and the amount of sum insure provide. These two things will be different in magnitude between one insurance company and another.

But usually, the higher the premium you pay, the more benefits and sum insure will be receive in the future. Therefore, you should ask this in detail to the insurance company so that there are no misunderstandings in the future.

Choosing the Product with the Best Service (Life Insurance)

Not a few insurance owners often experience problems relate to services from the insurance company. Some insurance companies do not have 24-hour customer service so that when something happens and important information is neede relate to their insurance products, customers will experience confusion.

Knowing the Credibility of insurance companies

Finally, tips that you should not miss when choosing the best insurance is to know the credibility of the insurance company. This is due to the usually long-term nature of insurance agreements so that this credibility is quite important to pay attention to.

Pay attention to the management and performance of your target company and make sure it doesn’t have problems. Information disclosure even allows you to see its financial statements and ratings from its customers. Already interested in making insurance? Don’t make the wrong choice, huh!

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