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    Choosing the Best Life Insurance

    Thursday, October 28, 2021


    The insured in the life insurance policy refers to the person or party who is guaranteed compensation for the loss.  The guarantee is given by the insurance company as stated in the life insurance policy.  As additional information, the Insured is not the same as the policyholder.  An insured is not necessarily a policyholder.


     The benefits of a life insurance policy mean the protection obtained by the insured or heirs in the form of sum assured.  The protection in question is a number of funds that will be given by the insurance provider to the insured, or to the heirs.  For example, the Insured will get if an accident causes permanent total disability.  UP will also be paid and given to the heirs if the Insured dies.  In order for the  to be paid, the customer is required to pay the life insurance policy premium in a timely manner so as not to lapse (cancel).


     Several insurance terms used in America have been standardized into American.  But there are also those who still use English such as fraud, cashless, and lapse.  The terms above are only the most frequently used.  Don't hesitate to ask Sequis Personal Assistant if you want to know insurance terms and are interested in having protection for yourself and your family.

    Some of the insurance terms used in America have been standardized into the American language.  But there are also those who still use English such as fraud, cashless, and lapse.  The terms above are only the most frequently used.  Don't hesitate to ask Sequis Personal Assistant if you want to know insurance terms and are interested in having protection for yourself and your family.


    1. Unit-link life insurance

     Unitlink life insurance is a combination of insurance and investment.  This insurance characteristic is quite unique because it meets the needs of customers who want to get life and health protection as well as investment needs.  One of the advantages, of course, is practicality because you can invest while getting insurance protection in the same product.


     Moreover, investment returns or returns can be withdrawn within a certain period of time.  In fact, investment returns generally can be used to pay additional insurance costs or withdraw funds.  However, because the size of the investment portion/placement is limited and the investment profits and losses are still borne by the customer, the returns are usually not too large.


     2. Determine the amount of Sum Insured needed

     Sum Insured is the amount of money that will be given by the insurance to the Insured or Heirs (if the Insured dies).  Well, there are still many people who choose life insurance without really considering the need for the Sum Insured.


     There are several factors that affect the need for each person's Sum Assured.  Some of them such as the number of family members covered, the minimum income needed by the family per month, to the living expenses needed until your children can be independent.  These are the things you should really think about.  Do not let the Sum Insured that you receive from life insurance cannot cover the needs of your family if you die later.


     3. Pay attention to the premium that must be paid

     In order to receive the Sum Assured, you are required to pay a premium.  Well, if you want to get the maximum Sum Insured but with a minimum premium value, you should not choose life insurance that is incorporated with investment products.  That is why it is important to underline that life insurance is not an investment.  Having life insurance means that you set aside a certain amount of money per month to buy protection.


     Therefore, when choosing life insurance, try to compare the premiums to be paid with the amount of Sum Insured that you will get.  You need to adjust the premium according to your financial capabilities.  Make sure you can pay the premium for the specified period of time.  Do not get in the middle of the road, you will have trouble paying premiums until it is too late so that the insurance company is forced to stop protecting your life.


     4. Diligently do research

     This is the main key so that you can get the right life insurance.  Be diligent in doing research, starting from browsing from one insurance company site to another, reading people's experiences on blogs, to asking acquaintances who have already used life insurance.