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Indonesian society in general still do not make insurance a requirement for continuity of a family life. Therefore we try to give a review about the importance of insurance for the family finances, both short and long term. For example, life insurance (life insurance).
In brief, life insurance is the provision of funds to protect or sustain the family life of a loved one. If you are still naked and was not married then it might be better off if you buy health insurance (if there is no benefit from the company). Or maybe you can buy insurance for critically illness or critical illness insurance is called. With this insurance, if you are diagnosed, then you will get the money at once or sump yet, which can be used to meet your daily needs.
Determining Insurance
If you need life insurance for the purpose terntentu, for example to maintain the continuity of investment for children's education expenses, the calculation of the required amount of insurance money becomes easier, at least you set up six times from your gross income or 10 times net income. This value may be enough for some families but may also be less for some others.
Term Insurance
Term life insurance can be taken each year and extended in the next year or you can buy it for an extended period of time that you specify for example 5 years, 10 years, even 20 years. When you buy term insurance annual, annual premium costs will always go up. Because insurance premiums you see probalitas mortality will further increase with age. Whereas when you buy term insurance 10 year term, the insurance company will calculate the average cost premium or flat for a period of 10 years.
As long as you pay the premiums every month, your insurance protection will remain in effect. Meanwhile, if you fail to pay annual premiums, the insurance protection you will be exhausted by the time limit (grace period) is very short-one months. This insurance has no cash value. That is, if you die at the specified time limit, then your family will receive the full sum assured.
When Buying Insurance
Some people ask, what about the insurance products that provide cash value? Such as unit-linked. Where you can select the types of investments that match what you want. Whether you should buy this type of insurance or insurance buy term and invest the rest?
When you compare these two things, buy term insurance and invest the rest will give better results if you knowingly continue to invest. If you fail or delay investment because of certain things, the results obtained it is not likely much less than the cash value is given by the unit-linked products.
If you include that it is difficult to set aside funds to be invested regularly every month, unit-linked insurance products can be an alternative. These products provide the advantages of this type of investment that we can select and protection with him. By purchasing this product, every year (when you pay the premiums every year) you will be billed the same amount of premiums, where most will be invested (the longer the greater portion of the investment compared to the protection) and some other protection, and other administrative costs.
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