The allocation of funds for insurance is usually not small. Therefore, it is necessary to be careful in choosing related products and companies so as not to end up losing.
Choosing the ideal insurance company and according to needs is indeed difficult and easy. All insurance companies definitely claim that they are the best.
Tips for Choosing Insurance with Small Premiums
RBC above 120 percent
The second tip for choosing insurance is to check the solvency ratio or Risk Based Capital (RBC). What is RBC? Risk Based Capital (RBC) or this solvency ratio shows the financial health of the insurance company. The greater the RBC ratio, the healthier the financial condition. At least, the RBC must be at 120 percent.
This is important for potential customers to know. Because prospective customers can at least estimate whether the company is able to fulfill its payment promises or claims when needed.
To find out, you can check the balance sheet in the newspaper or on the official website of the company concerned.
Choose those that offer affordable premiums
The third tip for choosing insurance is to compare between insurances to get affordable insurance premiums.
Each company offers different premiums. However, the more expensive the premium does not necessarily guarantee the quality of the insurance program. A good company actually offers premium prices that are affordable and of high quality.
In this regard, you can compare similar products from two or three companies at once. Remember, first understand your needs so you are not easily tempted when offered various insurance products by sales and insurance consultants.
Choose one that has many quality partners
The company must have many qualified health center partners. The more partners, the easier it is for customers to access the services they need. This is very crucial, especially when customers need prompt medical treatment.
For vehicle insurance, the number of workshop partners is also important. That way you as a customer will feel calm when traveling. If something untoward happens to your vehicle while it is in the middle of the road, you have many options for repair shops.
Learn the insurance system
Why do you need to study the insurance system? Of course the goal is that you can make the best use of your insurance, especially when you want to make a claim.
There are two types of insurance claim systems, namely reimburse and cashless.
- If your insurance claim system is reimbursement, when you experience an event that is covered in the terms of the insurance policy, such as hospitalization or a driving accident, you need to take care of and pay all the costs that appear in advance. After that, then you can submit a claim for reimbursement of costs that have been issued to the insurance.
- On the other hand, if our insurance claim system is cashless, you just need to show your membership card without the need to cover the costs incurred to get treatment.
The insurance company will directly take care of the costs incurred.
Know what is needed
In order not to be redundant, even misdirected, you must know what you need from the insurance product you want to buy.
It's a shame, isn't it if you pay your premiums diligently, but the benefits offered by insurance don't suit your needs? For example, if your main need is health insurance that can cover outpatient and inpatient costs, choose pure insurance that can cover it.
You don't need to buy unit-linked insurance at the same price as pure insurance, but the benefits offered don't suit your needs.
Choose a licensed agent
A licensed agent is an authorized agent whose existence is registered and supervised by the government. Choosing insurance from a licensed agent is important because he or she tends to be experienced and can help you when making a claim. Of course, no one wants to experience a situation, 'we have fallen under the stairs anyway, that is when we are already in a difficult position, but it is also difficult to file a claim because the agent is inexperienced or responsible.
Compare the insurance offered
The habit of comparing, in terms of choosing the insurance products offered, is highly recommended. Considering that insurance is a long-term commitment and is needed to provide the best benefits, it's natural. Therefore, don't hesitate to consult and ask the insurance company to illustrate which product suits your needs.
Then, compare and study the insurance offered from other companies, especially regarding the terms and conditions of protection, premiums, and procedures for making claims.
Have insurance while still healthy
One of the main reasons a person has insurance is just in case something happens that he doesn't want. We do not know what our condition will be like when we are sick, whether we will be able to pay for medical expenses or not. Well, in threes of money, insurance companies also work based on the law of possibility.
Maybe a customer will get sick so they need to cover the costs, but it's also possible for a customer to stay healthy so they can benefit from the premium paid. Imagine, when you are sick when you buy an insurance product, will the insurance company still want to bear the costs that will definitely be incurred? It's unlikely that they will lose. So, while still healthy, have insurance that suits your needs.
Buy an insurance policy when you are young
Not only determines health conditions, age also plays an important role in determining the amount of insurance premiums that we need to pay when buying insurance.
The consideration is this, the older we get, the greater our risk of falling ill. Don't be surprised if the premium charged for older customers is more expensive than younger customers. So, try to imagine the role of insurance in the future for your life. Don't just see it as a cost that you need to spend constantly because you may not feel the benefits right now. It is better to start having insurance when you are young.
Avoid choosing insurance with a cash plan offer
What is meant by cash plan insurance is insurance where the benefits are calculated only based on the length of hospitalization, regardless of other bills.
Simply put, when you are hospitalized for 3 days with a room fee of 1 million per day, the insurance will only pay the total bill for the room fee of 3 million, without considering other cost bills, such as doctor visits, drug costs, and others.
Therefore, you should avoid choosing insurance with a cash plan offer. Choose insurance that takes into account the cost of each ceiling so that you avoid the possibility of having to block costs that are not covered by insurance.
If you are married, choose family insurance
Why do you need to choose family insurance when you are married? The main goal is to save costs while making it easier for yourself.
You can try to compare the price of each policy for each member with the price of one policy that can cover all family members. As a result, it tends to be cheaper to buy one policy for all. In addition, if there are two family members who fall sick at the same time, it will be easier for you to take care of the claims.
Therefore, try to find insurance that can cover one family in one policy. Those are some tips that you can try when choosing an insurance company and don't want to get high premiums. Hopefully the above information is useful for you.
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