Look Before Buying Insurance
Imagine if a hard-earned home in installments over the years
should be sold for medical expenses due to illness or accident.
Many insurance products are offered in the market.
Protection is also diverse, from simple to comprehensive protection.
Careful in buying
insurance products will provide many benefits!
Before deciding to insure and determine the insurance
products that we will buy, understand and understand correctly about the terms,
terms and obligations that are in the insurance clause. Rights and obligations
of policyholders are the main ones and become the guidance for policyholders.
Finding information about the product to be purchased is a
very important requirement related to the selection of insurance products to be
purchased. The information can be viewed from the website of the insurance
company or through the brochures available. Can also information we get from
the Insurance Agent.
In general, there are
two life insurance products:
1. Traditional Life Insurance. Traditional insurance
provides benefits with a definite amount as it is in the policy and does not
depend on investment performance.
2. Unit Link. Unit link insurance is associated with
investment, providing investment benefits that depend on the performance of the
type of investment fund chosen by the customer since the beginning of the
insurance application.
Both can be added with other benefits, such as health
protection, accidents and critical illness.
Some Tips on Reading
Insurance Policy:
1. On the front page or policy summary:
- Insurance products purchased
- The amount of Sum Insured
- Insurance start date
- Duration of insurance period
- The amount of premium payments
- Name of the Insured
- Name of Policyholder
2. General policy terms:
- Rights and obligations as policyholder. Such as the
obligation to pay premiums, sanctions due to late or unpaid premiums, as well
as the right to obtain insurance benefits when the occurrence of insured risks.
- Rights and obligations of insurance companies as insurers.
Such as the obligation of insurance companies to pay claims filed by
policyholders or heirs.
- Grace period facility. Freedom is given to anticipate late
payment of premiums. Policy whose premium has not been paid after the due date
of payment until the limit of freedom will still be borne if there is a risk in
that period. Duration of this free period 30 s / d 60 days.
- Chapter exceptions on general policy terms.
- Special provisions for products purchased. Some insurance
products have special specifications that need to be poured in a special
provision.
