At this time has developed various types of insurance in society, in risk management, insurance allows the sharing and transfer of risk, this is the best way to replace the loss. Most people do not understand the fundamental differences in the types of insurance, but to determine the most suitable insurance program needs, we need to know the kinds of insurance.
Insurance is divided into two main types
1. Traditional Insurance
2. Non-Traditional Insurance (modern)
In the Traditional Insurance, divided into several types of insurance, this insurance usually has long been used by consumers.
Traditional insurance consists of:
1. TERM
2. Wholelife
3. Endowment
Explanation TERM
- You never know about or Motor Car Insurance? Or maybe health insurance? Well kind of term insurance is usually purchased by a lot of people, because the premium payment is cheap and getting great benefits. In other words, pay less, failure by many, but if the year was not used and there is no insurance claim, the money we deposited will be forfeited. From these facts, we can see, no savings element in this type of insurance, so call us to buy our security guarantee within 1 year or a certain period. We pay the same as travel insurance, time will be charged for that amount of money on a plane, after getting off the plane safely, the contract is completed. Because the premium payment period is not specified, then every year, premiums will increase with increasing age of the insured.
Explanation Wholelife
- Wholelife, meaningful life. Type of insurance protects the insured until the end of the age, are usually covered up to age 99 years. And great! premium payment period is determined from the beginning, there can be no extension of the period of premium payment. If elected for a 5-year, five-year pay him yes, then life will not be billed again, whenever we die, we can still claim the sum assured that we have planned. Because the system is saved, then started the second year the cash value of the policy was formed, in particular the savings can be captured at up to 80%. Cool ga? In addition to the permanent protection continues, savings are also available, but not much cash value than the value of PROTECTION.
Explanation Endowment
- Endowment, this is life insurance with a value greater savings. In certain years the savings can be withdrawn in accordance with the program. Usually this type of insurance is known as education insurance or pension insurance. Insurance education is determined when the money could be taken for school fees dear. Endowment system, the savings are a bonus life insurance, if anything happens when saving, then we get the sum assured as death benefit, but at the time the obligation to pay claims, insurance companies continue to pay claims until the completion of the contract. Usually the premium offered is much larger than the type TERM and Wholelife.
Example: Budi 32 years of taking out insurance Desi education for their children, 2 years old. At the time of paying the premiums, at the age of 36 years Passed away Budi. At that time Mr. Budi's wife get death benefits specified number of UP, and free to pay a premium. At the age of 7 years old Desi, Desi still get scheduled educational claims, and at age 13, age 16 years, age 19 years, and so on.
Okay, we'll talk a little about the Non-Traditional Insurance
Non-Traditional Insurance or so-called modern insurance, insurance is the type of UNIT-LINK. Where the Unit Link Insurance is very popular at the moment, why? because unit-Link is a type of insurance that combines life insurance and investments. Mated life insurance with investment, is a type TERM. Remember! TERM if it is a short-term insurance, and insurance costs could rise with age.
UNIT LINK = TERM + Investment
Most people take a Unit Linked because they want to save the results many times, than to save money in the bank, the interest does not amount to much. By investing or MUTUAL FUND, then the money we invest will grow prolifically. But the thing to remember, the bigger the profit, the greater the risk.
Investments may increase and may decline, according to the economic development of the nation at the time. In times of crisis, it is certain that we have investment value dropped dramatically, and consequently the value of our savings will be depleted. If so, do not protest!
Insurance is divided into two main types
1. Traditional Insurance
2. Non-Traditional Insurance (modern)
In the Traditional Insurance, divided into several types of insurance, this insurance usually has long been used by consumers.
Traditional insurance consists of:
1. TERM
2. Wholelife
3. Endowment
Explanation TERM
- You never know about or Motor Car Insurance? Or maybe health insurance? Well kind of term insurance is usually purchased by a lot of people, because the premium payment is cheap and getting great benefits. In other words, pay less, failure by many, but if the year was not used and there is no insurance claim, the money we deposited will be forfeited. From these facts, we can see, no savings element in this type of insurance, so call us to buy our security guarantee within 1 year or a certain period. We pay the same as travel insurance, time will be charged for that amount of money on a plane, after getting off the plane safely, the contract is completed. Because the premium payment period is not specified, then every year, premiums will increase with increasing age of the insured.
Explanation Wholelife
- Wholelife, meaningful life. Type of insurance protects the insured until the end of the age, are usually covered up to age 99 years. And great! premium payment period is determined from the beginning, there can be no extension of the period of premium payment. If elected for a 5-year, five-year pay him yes, then life will not be billed again, whenever we die, we can still claim the sum assured that we have planned. Because the system is saved, then started the second year the cash value of the policy was formed, in particular the savings can be captured at up to 80%. Cool ga? In addition to the permanent protection continues, savings are also available, but not much cash value than the value of PROTECTION.
Explanation Endowment
- Endowment, this is life insurance with a value greater savings. In certain years the savings can be withdrawn in accordance with the program. Usually this type of insurance is known as education insurance or pension insurance. Insurance education is determined when the money could be taken for school fees dear. Endowment system, the savings are a bonus life insurance, if anything happens when saving, then we get the sum assured as death benefit, but at the time the obligation to pay claims, insurance companies continue to pay claims until the completion of the contract. Usually the premium offered is much larger than the type TERM and Wholelife.
Example: Budi 32 years of taking out insurance Desi education for their children, 2 years old. At the time of paying the premiums, at the age of 36 years Passed away Budi. At that time Mr. Budi's wife get death benefits specified number of UP, and free to pay a premium. At the age of 7 years old Desi, Desi still get scheduled educational claims, and at age 13, age 16 years, age 19 years, and so on.
Okay, we'll talk a little about the Non-Traditional Insurance
Non-Traditional Insurance or so-called modern insurance, insurance is the type of UNIT-LINK. Where the Unit Link Insurance is very popular at the moment, why? because unit-Link is a type of insurance that combines life insurance and investments. Mated life insurance with investment, is a type TERM. Remember! TERM if it is a short-term insurance, and insurance costs could rise with age.
UNIT LINK = TERM + Investment
Most people take a Unit Linked because they want to save the results many times, than to save money in the bank, the interest does not amount to much. By investing or MUTUAL FUND, then the money we invest will grow prolifically. But the thing to remember, the bigger the profit, the greater the risk.
Investments may increase and may decline, according to the economic development of the nation at the time. In times of crisis, it is certain that we have investment value dropped dramatically, and consequently the value of our savings will be depleted. If so, do not protest!
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