Because with this insurance, the customer saves his family's life and finances later when the insured dies. Before going any further about death insurance, check out our discussion on the types of death insurance, the best life insurance production, and how to buy it.
An Overview Of Death Insurance
Death insurance is a type of insurance that is considered important to face various unforeseen risks in the future. This insurance is usually closely related to life insurance. As is well known, life insurance itself is part of the insurance product with the purpose of providing compensation to the heirs of the customer left by his family.
Not only that, this type of insurance also provides a guarantee to the customer participants in covering the financial risk allocated to cover the costs associated with death such as hospitalization, funeral, and so on.
Types of Death Insurance
To benefit from death insurance, the customer or policyholder needs to pay a premium paid monthly. The purpose is to indemnify the person for financial loss in the event of an unforeseen event due to the death of the insured.
Therefore, this insurance is purchased exclusively for its own benefit, and on behalf of the insured or for the benefit of others, such as children for both parents as insured. For that, there are several types of death insurance that you can see and understand.
1. Term Life Insurance
This insurance is a life insurance agreement in which the sum insured is paid at the time of the death of the insured during the period of coverage that is still valid.
Usually this insurance is suitable for use by potential customers who want to protect or provide protection for the future of their children and potential customers who are just starting their careers.
The benefits provided by term life insurance or term life insurance, among others, this insurance product will provide insurance protection at a relatively low cost with a certain period of time.
When wanting to buy it, potential customers must pay attention to several things so as not to be wrong, including, the offer proposal submitted by the agent, the requirements to be met, how to pay insurance premiums, things that are excluded, claim filing procedures
2. Whole Life Insurance
For insurance this one turns out to provide many benefits for its customers. However, many still do not understand the type of life insurance or whole life insurance.
Sometimes, some life insurance confuses its customers to choose the best one. Another factor is the little information known regarding this life insurance and also the causal factors. So what exactly is this lifetime life insurance?
Lifetime life insurance is a type of insurance that provides protection to its customers for a lifetime or a maximum until the age of 100 years. This means that a customer who pays a lifetime life insurance premium will provide the benefits of coverage to the customer's heirs when he dies later. So, the family that is left behind does not have to suffer and experience financial decline. Because he has got life insurance coverage for his future.
Added value, this insurance also helps customers manage their wealth or finances so that they can be used in the future. For example, for a child's education or to buy other assets that are useful for the future.
This type of insurance is recommended for those aged 40 and above. Because, it has a longer duration to a lifetime. And can provide protection if there is a sudden risk of the customer dying and the insured person will leave an inheritance to his heirs.
There are several benefits that customers can get when having life insurance for life. These benefits can also be felt and beneficial to children or heirs later. The advantages include, relatively fixed premiums, refundable premiums, flexible premium payments, and a guaranteed cash value.
3. Endowment Insurance
Furthermore, for dual -purpose life insurance itself is one type of insurance that will provide certain benefits related to whether the insured lives until the end of the coverage period or dies during the coverage period.
It should be noted, for each dual -purpose life policy has a due date that is the date of payment of insurance money by the insurer to the policy holder if the insured or the customer of the policy owner is still declared alive. Later, the due date will be reached if at the end of the specified period, or when the insured reaches the specified age.
4. Link Unit Life Insurance
And the last is the link unit life insurance which is insurance for combining the benefits of insurance with investment. Premiums paid are usually allocated to two mechanisms with separate management, namely premiums for protection interests and investment premiums.
Usually investment premiums are managed by the company's investment manager. By purchasing this type of insurance product, then an insured will get the benefits of insurance protection and also compensation for the product investment proceeds.
Death Insurance Benefits
Before discussing the issue of applying for death insurance, would it be good for you as a potential customer to understand what benefits can be felt when buying and having death insurance? Here is the discussion.
1. Reduce the Burden of Immediate Family
Death insurance can reduce the burden of family expenses. This is because death insurance or life insurance does not only cover the costs for one person, but other family members who have registered an insurance policy in accordance with the agreement between the insured and the insurance company.
Thus, as a nasabag can be calmer about the budget for health costs. Customers can also use the remaining budget for other purposes. For example, savings, children's school fees, to urgent needs.
2. Can Help Abandoned Families
Life insurance not only covers the cost of death, but also all financial risks are also covered by this life or death insurance. Certainly, life insurance that customers choose and trust has the facility of death coverage by immediate families. The most important thing is that customers need to make a financial plan in the next 5 to 20 years as an early preparation and to avoid the financial crisis.
3. Prepare Funeral Fees
Currently, the cost of a funeral can be quite large. It's not just a matter of paying for land for a funeral, but the family left behind needs care costs and other things that are still related to death management.
As is well known, funeral costs are differentiated based on the block and the size of land required. If the customer does not order or pay attention in detail to the cost required, it will be a problem for anyone who intervenes to deal with the cost of death.
Having death insurance can not be felt in the near future, but for its benefits and sustainability in the future is very useful and helpful financially. No one ever knows what will happen in the future, so you need to anticipate the unexpected by providing protection for yourself and your loved ones.
Post a Comment