How to Choose Life Insurance – infomediaku.net
With the higher the lifestyle and the level of the economy that has been achieved, public awareness of the importance of insurance in protecting family finances is increasing. Along with the increasing public awareness of this, and the number of life insurance companies today, various considerations in choosing insurance are also increasing.
How to Choose Life Insurance? Follow These 6 Easy Tips
Some of you may also experience difficulties regarding how to choose the right life insurance. Here are various considerations that you can take before choosing life insurance for you and your family.
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1. Adjust To Your Needs
Just like buying goods in general, knowing and ensuring what kind of product you are going to buy is the main thing that you should know first. Some insurance companies will usually offer you more than one product, so choose a product that suits your needs, abilities, and financial goals.
What risks will be covered? For example, the cost of children’s education, old-age insurance, or critical illness that might occur. Learn and compare one insurance product with another insurance product, and adjust it to your needs.
2. Budget
al the other most important thing is to adjust your budget so as not to disturb the budget for other needs. Choose pure health insurance whose premiums are relatively lower than insurance plus investment, if you need complete health insurance benefits but have a limited budget.
Make a monthly budget to pay for your life insurance. In financial planning theory, the ideal way is to allocate income or income between 10% -20% for insurance.
3. The credibility
Insurance is a long term agreement. Therefore, the credibility of the insurance company you choose is also very important. Choose an insurance company that has no problems in terms of financial management.
Monitoring the progress and performance or management is one way that can be done. Make sure that the insurance company you choose is fine. You can view the financial reports through newspapers, or other mass media.
See the ratings and ratings. Pay attention to the RBC (Risk-Based Capital) of the company, whether it is in accordance with the government regulation which is at least 120%. Get to know the ins and outs of the company you will choose.
4. Service
Choose an insurance company that offers extra servants. Like having 24-hour customer service. This will certainly help you later if you need information about life insurance product details whenever you need it.
Also, know how the claim procedure is used. Starting from the requirements to how long it will take your claim to be paid later. Does the company cooperate with the hospital, making it easier for customers to file claims, without paying first? because if not, it will trouble you later.
5. Do It While You Are Healthy
Each insurance company has different criteria in terms of the health condition of their prospective insurance buyers. Some even refuse insurance applications given by prospective clients if they do not meet their requirements.
Therefore it is better if you buy insurance while you are healthy, of course, affects the premiums paid. If in good health, the premium paid will be minimal compared to if you bought it when you were sick. Do this as early as possible, while you are healthy.
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6. Consider it Carefully
Many things can be considered by you in choosing the best insurance. But consider everything carefully, don’t be shy about asking in detail anything you don’t understand. Consider the various advantages and disadvantages of the insurance you choose.
Because the nature of insurance is a long-term agreement, choose wisely and according to your needs, so you don’t regret it later. One more thing, make sure the insurance you choose not only protects you but also protects your family.
That’s the discussion on this occasion about how to choose life insurance. There are 6 tips on how to choose life insurance that you can consider.
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