What is the insurance premium leave and what are the risks

What is the insurance premium leave and what are the risks. Many terms in the world of insurance and many ordinary people who do not understand what the meaning of terms in life insurance, including me even though I was still unfamiliar with the words of the term insurance. Why many ordinary people who do not understand, even those who become insurance customers once may be the first time heard, boro-boro understand the terms of insurance. It may be a low curiosity, lazy to find out, or maybe it does not matter at all. Whereas in the insurance there are terms and conditions that apply and must be understood and obeyed its customers. Because that would certainly be very useful for ourselves especially if it is so insurance customers, because it will help customers avoid mistakes or in order to avoid violations of the terms or conditions usually contained in the articles in the policy book specified by the company insurance.

The risk if it is violated due to the ignorance of its customers, then it could be insurance claims will be rejected or polisnya to lapse / fall, loss for the customer. Well this investment value that will continue to accumulate more and more. Until a certain period if the value is enough, the value of this investment could be used or cut to pay insurance costs that exist each month, because the value of this investment also has something to do with premium leave I'm discussing this. Premium Leave is the period when the customer stops paying the premium for a certain period of time, but the policy will still apply as long as the Investment Value is sufficient to pay for the insurance costs.

Just as employees are granted employment leave privileges from their employers, premium insurance premiums are also facilities provided by insurance companies to their customers. This premium leave facility will greatly help customers to adjust their circumstances to make family financial plans so that financial difficulties can be overcome without having to redeem and close the insurance policy. Premium leave can be intentionally or forced to do, depending on the situation of the customer at that time. Premium Leave in deliberate, meaning that customers already understand the provisions and indeed intend on their own because there is a certain purpose. Premium leave for forced, for example when the customer is in a state of financial difficulties, usually the premium payment is stuck. Because of this condition was forced to leave Premium Leave the customer.

How the idea and workings of life insurance

How the idea and workings of life insurance. A risk (the possibility of loss or damage) is unavoidable, but the impact of such risks can be minimized. Avoiding risk can be done by eliminating habits or activities that may pose a risk. For example, someone who is worried about lung cancer due to smoking habits, can avoid it by stopping the habit. Risk control can be done by reducing the frequency and impact of losses that may arise. For example, a motorist must wear a helmet and take care of his bike regularly, to control the losses that may arise. Accepting risk is done by maintaining existing risks. For example, a rich man with a lot of wealth may not feel the need to buy health insurance because he thinks he can afford a doctor if he is sick. Risk-shifting can be done by transferring risk from an individual to a company. For example, a head of family who is worried that her family loses her income if she is sick or dies can buy insurance products from a life insurance company. In the insurance business, the risks faced by each individual are transferred to the insurer (life insurance company), which agrees to indemnify the amount specified in the policy contract. To compensate for this loss, the insurer sets the premium to be paid by the insured individual. Mistakes in measuring these factors can cause losses for life insurance companies, such as setting a smaller premium than they should.

We assume there are 1000 people who are 50 years old and in good health. But it is estimated, 10 of them will die this year. For example, the economic value of losses incurred by an abandoned family is about 200 million, so the total loss of 10 families is about 2 billion. If each person from the group (1000) contributed 5 million rupiah per year to the mutual fund, then the funds collected amounted to 5 billion rupiah. The amount would be enough to compensate 200 million rupiah to each family left behind. That is, the risk faced by 10 people was spread to 1000 people who are members of the group. The insurance company acts as a representative, managing the funds collected on behalf of the group's community. Life insurance companies must also arrange in such a way that no one feels disadvantaged. Life insurance, as a tool to spread risk, can only work if a life insurance company is able to bear the same risk in large numbers. Here apply what is called the law of large number. The law of large numbers states that if the amount of exposure to losses increases, then the prediction of losses will be closer to the actual loss amount. The use of the large number of laws allows the number of losses to be predicted better. Life insurance business is nothing but sharing. It aims to spread the losses suffered by a person to all group members who risk the same risk.

Logical Reasons Why Insurance Is Important

Logical Reasons Why Insurance Is Important. In planning for a better future life with the family it is necessary to set a good budget, especially if you as the backbone of the family should be smart to manage finances for expenditure and income should be clear. One that should not be missed in such a plan is the best insurance ownership, so as not to threaten your duties as a family that should protect other family members from both unexpected and unforeseen risks such as natural disasters, accidents or whatever.

Unfortunately, there are still some insurmountable insurance sadara still there are some of us who put aside various possibilities that could happen in the course of the activities, below will be described some really logical reasons to explain why insurance is so important.

No one knows the disaster

This one need not be explained again maybe everyone has understood, who can predict the coming of disaster? No one ever knows, but have you thought deeply what if the disaster came to us who have not had any preparation to deal with it? Have you prepared enough finances if that happens?

Health costs will continue to increase

Based on a study of the Global Medical Trends of Tower Watson the cost of treatment in Indonesia averaged an average increase of up to 13.55 percent per year. While the income of the community itself only rose about 1.2 percent per year. It can be said that the increase in health costs is not proportional to the increase in salaries of workers.

The death is certain

Who can avoid death when it is time, well the problem is who will support the family if you as the head of the family is gone? Think carefully, insurance is also useful to protect families from financial problems due to loss of family income.

Life insurance is the oldest insurance product in world

Life insurance is the oldest insurance product in world. This type of insurance will provide some sums of money to the heirs left behind if the customer or the insured mennggal the world either because of illness or accident. This insurance must be owned by a person in his productive period and have a family. So that when something happens that is not desirable, the deceased will leave and left also a sufficient amount of money to meet the needs of the house or run the run running plans of family members who are left, especially their children. Life insurance consists of a variety of products and additions (riders). Generally life insurance is divided into 2 kinds, namely term life insurance and life insurance whole life.

Term life insurance ensures that the policyholder is protected for a certain period of time, for example 10 to 30 years. Example: Mr. A bought term life insurance with a term of 20 years at the age of 29 years. The concerned will be covered by insurance until he is 49 years old. If Mr. A has died within the 20 years since he took out the insurance policy, then the compensation will be given to his heirs. Conversely, if Mr. A died at the time he was past 49 years (beyond the 20 years since the insurance policy was taken), then the concerned will not get any soul compensation. Whole life insurance protects the policyholder until he / she dies, is not tied to what age he / she died.

As long as the insurance premium remains paid, the insurance policy will always provide protection. This causes insurance of the type of whole life is more desirable by the community, especially in insuring their children because of the premium value at a young age is quite cheap and this value remains the same during the life of the child until the age of adulthood. Term life insurance that has a certain period of time, offering a cheaper premium several times more than the whole life insurance. Health insurance is directed to the transfer of risk of hospital expenses, examination fees, and medication if an insured has a particular disease. This insurance is felt necessary if one expects a certain standard of health care facilities that may be required in the future. Currently there are many companies that provide health insurance facilities for its employees.

The concept of insurance in which every human being needs peace in his life

The concept of insurance in which every human being needs peace in his life. There is one thing that is always faced by every human being in this world, that is risk. Risk always exists because of our ignorance of the conditions that will occur in the future. Because of its nature, it will make each choice into two sides that run simultaneously and in tandem, namely the risk and profit side. For example, if we decide to use a car, then we will avoid the risk of rain and heat. But we will meet the risk of accidents and damage to the car. Another example, if we decide to work hard, then we are likely to benefit from getting more money, but we are exposed to the risk of illness due to lack of body condition. The question is whether the risks can be reduced?

The concept of insurance comes on the need, where every human needs calm in his life. And generally, humans feel that calm when they realize they are on a path with little or no risk. And the insurance business is there to bridge that, where one can divert the risks facing the insurer. To get coverage of the risks it faces, a person must pay a premium to an insurance company whose amount depends on the amount of risk transferred to the insurer (insurance company). The definition of insurance in general is an agreement in which the insurer makes a bond with the insured by accepting a premium to provide a replacement to the insured for a risk of loss, damage, or loss that may be experienced as a result of an unexpected event. By taking insurance products, then someone will become more calm in doing its activities. One does not need to think about the risks that may arise due to an event, because some of the risks have been transferred to the insurance company.

Health insurance serves to minimize the risk of large expenses

Health insurance serves to minimize the risk of large expenses when a person suffers from illness. No one wants to be sick. However, there is also no guarantee when someone will experience health problems. Despite trying to live a healthy lifestyle, there will still be unexpected risks that need to be anticipated. As an illustration, one day you are in need of big funds for home renovation, suddenly one family member suffered illness that requires surgery and hospitalization in hospital. In a short time it takes a large amount of cash for hospital expenses. When not ready, emergency funds can be used up to pay huge medical bills. Important health insurance is held at any age. This is because by having health insurance, a person can avoid the difficulty of having to pay huge medical bills if one day he suffered from severe illness and had to undergo hospital treatment. Lighten the burden of the mind while in a state of pain because it does not have to think about the cost that must be incurred. 

This is because the payment of medicine, doctor, room (when hospitalization) will be covered by insurance (as per policy). It will not disrupt the deposits of funds intended for other purposes, such as emergency funds, child education savings, and others. Prevent the possibility of owing or selling assets to pay considerable hospital bills. With age, the risk of getting sick is getting bigger. Especially for someone whose family has a history of certain diseases. Risk protection is required to anticipate such conditions. The older your age to buy a health insurance policy then the premium value to be paid greater. This is because as mentioned earlier, age increases can increase health risks. The cost of medical treatment in Indonesia is always increasing. Based on data released by Global Waters Survey Reports from Towers Watson (2011), the increase in health costs in Indonesia is always above inflation every year, at 10-13 percent per year. Long-term protection. Office workers generally get health insurance facilities from where they work. However, what if one day he must move the office? or worse, having a layoff (PHK)? The protection umbrella was automatically lost. Another case when having health insurance on behalf of the person. Whatever the profession or employment status of a person, he will remain protected by health insurance he has.

The reason why insurance is considered unimportant by many people

The reason why insurance is considered unimportant by many people. There are still many Indonesians who are not covered by insurance, Indonesia is still listed as an underinsured country. There are many reasons why Indonesians are lazy to be insured. But some of the reasons are based on one thing, namely less education for the public insurance. Since insurance has not been too popular in the community, many terms are not yet understood by the people of Indonesia, so cause, the people are afraid to be deceived and decided not to be insured either car insurance, health, or soul though. This misunderstanding can actually be above if, there is education that is easy and simple to understand, but sometimes, the explanation people receive from an insurance agent, too quickly or not explained in a simple way. 

Insurance, is still considered a luxury item and far out of reach. While the government and private companies have provided several insurance options that are diverse and in line with the growing insurance industry, the price becomes very competitive. Insurance prices today are much cheaper in the past, perhaps even this price is not more expensive than public expenditure on mobile phone pulses. This is perfectly understandable, but make sure that what is meant by other needs is a very urgent or primary need and once you have enough savings, start insuring no matter how small the amount is. Because no matter how small the value of insurance, would be very helpful when needed. Even if you drive very carefully though, your car or motorcycle still has the risk of being hit, dented, or other traffic incidents. Therefore insure your vehicle, so that your financial status remains stable if something happens to the vehicle. This point depends largely on the type of insurance company selected, but in general, if you have read it comprehensively and understand the comprehensive insurance policy, insurance claims should not be a frightening specter. Therefore it is advisable to consult in advance with some relatives or experts before buying insurance products.

How to claim auto insurance to get approved quickly

How to claim auto insurance to get approved quickly. Not to be a taboo again especially for the people of Jakarta, seeing the density of streets around the corner of the city with private vehicles and public transport. Approximately hundreds of thousands of vehicles out and crowded the streets to conduct the activities of the riders from who want to the office, school or just to go berekreasi. With the increasingly crowded streets of the capital city with private vehicles and other public vehicles it will be more and more risks will be received by the riders on the road. Risks that may occur such as the occurrence of accidents between vehicles one or the other, experiencing collisions with other vehicles, and also crashing into objects or trees on the roadside. All that could happen if the road is getting crowded and the concentration of riders is getting out of control.

Prior to those events it could befall you should be encouraged to register your vehicle with a private insurance company in Indonesia. The Car Insurance Company will bear and claim any loss you may receive from any unfortunate on-the-go. Immediately contact your car insurance company if anything happens to your car such as experiencing theft, traffic accident, by contacting your car insurance within 3 x 24 hours via phone, email, sms, or better directly to the address of the insurance office concerned , tell me what happens honestly, if you quickly report that all for filing a claim is approved or not rejected because it is slow to provide complete information. Complete all filing a claim file as in the insurance policy. Photos of your car that have been damaged by accident and referred to the authorized workshops of your insurance partner, car photos as evidence of the car suffered damage or accident. Reporting to authorities such as the police and requesting a file bearing that your car had an accident in traffic or a car is lost by theft (usually a key and a vehicle registration must be present for a claim filing if a car stole as a file and evidence provided to the insurer), this file is strong evidence that you have an actual accident.

How To Choose The Best Vehicle Insurance Company

How to protect cars from accidents on the road is certainly one thing most car owners think about. Because sometimes, although we have been very careful in driving, disaster can still come. Well, that's why it's very important to have vehicle insurance, especially all risk car insurance, as one way to safely protect your favorite car. With the insurance, at least we do not have to worry about the state of the car and the financial situation, because everything will be borne by the insurance company. To obtain maximum protection then the selection of insurance that we will use must be appropriate, both the type of insurance used, the policy, especially the insurance company. This is very important, because choosing the wrong insurance company can harm us later. Here are some ways you can do to choose the best car insurance company.

The first step to ensure the company's credibility is to look at the company's profile. For example, age and history of company establishment. Usually people prefer companies with old age or have long standing because it already has a proven name and experience. Even so, the new insurance company with the shareholder behind it who has a big name was worth to be trusted. This is an important step that must be taken to ensure insurance will not be problematic and harm us later. One way that can be done is to check the company's balance sheet financial report which is usually published publicly in the newspaper. Important points to consider include assets and liabilities, annual profit, and the company's ability to pay off debts and the like. How the company provides services to its customers is an important factor that must be considered before. This is directly related to our comfort when filing claims later. We can see from the reviews or testimonials and complaints from the company's customers. For example how the claim filing process, how long it takes to resolve the claim, to how much coverage is given and so forth.

The term in car insurance is a car that you need to know

The term in car insurance is a car that you need to know. Many people feel that cars owned must be protected by vehicle insurance. However, not infrequently people who discourage buying insurance because it feels complicated will the process and the agreements listed. In order not to be confused with the terms of insurance, here we give understanding of the terms in the insurance for Premier People no longer confused.

• Adjustable Premium: The insurance company's right to change the premium rate charged to customers due to an updated insurance contract.
• Additional Interest Insured: Premier people whose names are added to the insurance policy so that a car can be on behalf of two insurers. This individual also gets protection from the insurance company with the terms and conditions specified in the policy.
• Annuitant: The policyholder is entitled to receive benefits from the insurance company for a certain period of time.
• Appraisal: Estimation of quantity, quality, and value. In this way, the damage caused by an accident or other cause can be measured to determine its loss.
• Depreciation: Lost or diminished value or difference in the value of an object at different times, generally due to intensive use
• Deductible: The first number of claims not covered by the policy. For example: the total loss of premier people is Rp15 million, while your deductible is Rp10 million, then the insurance company only compensates Rp5 million.
• Insurable Interest: Also called insurance-protected interests, namely the circumstances in which the Premier people are said to have an interest in the object insured, and the premiere people will suffer losses in case of a disaster that caused damage to the object. This financial interest allows premier people to insure property or other premier people's interests.
• Claim: A formal request to an insurance company for compensation or damage to a premier people vehicle in accordance with the terms and conditions of the insurance policy. The validity of this claim is checked by the company then paid to the customer after going through the approval process.
• Clause: An additional part in the insurance policy that deals with a particular problem that is not listed in the main section.