Health has become an expensive item that everyone really needs, especially during the COVID-19 pandemic like now. It can be said that having insurance is as important as having a place to live. In order to get an insurance product with the most complete benefits, you should know tips on choosing insurance.
To maintain health and fitness, it is not only about maintaining a regular diet, exercising and resting regularly.
Because, in several cases, it was found that someone who maintained a regular diet and rest and regularly exercised faced death quickly.
Given the risk of health problems and death that are difficult to predict, it is better to protect yourself and your family with insurance that provides the most complete benefits at a premium price in accordance with the coverage provided.
Come on, find out tips on choosing the right insurance below!
1. Do Research About Insurance Products
In Indonesia, there are at least 10 insurance products offered by insurance companies. Among them there are life insurance products, health insurance, accident insurance, home insurance, vehicle insurance, education insurance, loss insurance, travel insurance, pension insurance, and sharia insurance.
Each type of insurance offers different coverage benefits. For example, term life insurance products that provide protection benefits for a certain period of time, such as 5 years or 10 years.
Meanwhile, there is a dual-purpose life insurance that provides benefits as term insurance as well as savings. Then, unit-linked life insurance which provides coverage benefits in the form of life and investment protection insurance.
2. Buy Insurance Products As Needed
Before deciding, you must identify what insurance suits your needs and abilities.
If the insurance needed is insurance that provides life protection as well as an investment platform, you should choose a unit-linked life insurance product instead of dual-purpose life insurance. This is because the coverage benefits provided by dual-purpose life insurance do not provide investment benefits and vice versa.
So, first determine what kind of insurance you need. Just adjust it to your financial ability to pay insurance premiums.
3. Actively Ask Insurance Consultants or Licensed Agents
When you feel doubtful and worried about the coverage benefits that will be obtained from the insurance product, you should immediately ask the insurance consultant or agent who has been prepared and has been licensed so that all questions in your mind are answered correctly.
Cases that occur in the community are shy and reluctant to ask questions that are in their brains so that returning home is still filled with a myriad of questions.
4. Do We Really Understand The Selected Insurance?
Before actually signing the Life Insurance Request Letter (SPAJ) or Health Insurance Request Letter (SPAK), it's a good idea to ask yourself whether we really understand about the selected insurance product.
Know for sure how far the coverage benefits will be, how the flow of insurance benefits will be obtained later, what the insurance disbursement process will be, and how to pay the premium each month.
Make sure we understand some of the things above very well before finally signing the SPAJ or SPAK.
In addition to doing research on insurance products, it is important to do research and find out the track record of the insurance company. The most important thing is how big the level of solvency or risk based capital of the insurance company.
Risk based capital is a calculation method to determine whether the insurance company is at a financially sound level to pay all of its responsibilities.
The Financial Services Authority (OJK) requires all insurance companies to notify their customers how far the RBC level of the insurance company is.
For example, Prudential, in the second quarter of 2021, even though the pandemic is not over yet, Prudential's RBC rate is high at 428%. The percentage is three times higher than the minimum internal target that has been set.
Therefore, know the insurance company that we will entrust to provide protection for yourself and your family.
Well, that's 4 tips for choosing insurance that you should apply. For more information, let's read other articles here!
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