Top 5 Types of Insurance Products Everyone Needs – infomediaku.net
Insurance products are financial products that are useful to protect you from the risk of financial loss that occurs in life.
Related to this, the protection provided by insurance will certainly make you think more calmly and be able to work optimally.
Who could have thought that one day all of a sudden our house was on fire, or you have a certain disease that requires treatment at a low cost? You can’t right? We must manage all these risks in order to avoid financial losses. So buying an insurance policy is the most appropriate choice.
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5 Types of Insurance Products Everyone Needs
1. Health Insurance
Health insurance is an insurance product that provides protection against health risks with various insurance benefits schemes and options.
If you want more health insurance benefits, you can of course buy health insurance products that are managed by private insurance companies.
The variety of benefits of the product is interesting and many, from inpatient services, childbirth, teeth, changing glasses, and so on.
Choose a health insurance product that suits your needs at a premium price that can be reached with your income.
Currently, some companies also offer insurance called unit link insurance. This means that you pay an insurance premium every month with benefits as health protection as well as stock investments.
Buying health insurance products is a very important investment for health financing protection and of course, it helps you avoid financial harm when experiencing illness which is expensive.
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2. Life Insurance
Life insurance is an insurance product that provides protection in the event of a risk of death for the policyholder. This insurance will certainly provide long-term protection for your heirs if you die.
However, in addition to pure life insurance products like the definition above, there is a new variant of life insurance called credit life insurance. Credit Life Insurance is usually a bundling product with credit facilities provided by the bank.
Later bank customers who borrow some money from the bank will automatically pay credit life insurance premiums. So that if there is a risk of death to the customer, and there is a potential for default on credit installments, the insurance company will pay the rest.
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3. Car Insurance
Car insurance provides protection for private cars from the risk of natural disasters, fire, damage, and accidents. There are two types of car insurance, all risk car insurance, and total loss only (TLO) car insurance.
With all risk car insurance, your car will be protected from all types of risks including minor collisions until the vehicle is lost.
As for TLO car insurance, your vehicle is only covered for major accidents that result in accidents of more than 80% or the vehicle is lost.
If you own a car, it is important to ensure it because of the risk when driving is very high. Choose a car insurance product with a premium that matches the value of your car and adjust it to the protection benefits you want.
4. Education Insurance
Education insurance functions like future savings to ensure the continuity of education for your children in the midst of the high cost of education from elementary to tertiary level.
Currently, many bank savings products are automatically combined with education insurance. You can choose this scheme because we basically save for your children’s education funds.
5. Property Insurance
Property insurance will later protect your home and buildings from the risk of damage and fire. This type of insurance is All Risk, meaning it protects all types of damage with certain exceptions.
Property insurance does not only apply to finished and occupied buildings. But also for buildings that are still under construction. The insurance company will cover all costs arising from the risk of damage.
Let’s Start Insurance
Well, that’s an explanation of each of the crucial insurance products that you need to buy. Of course, the amount of premium needs to be adjusted to the amount of your income each month.
One more important thing is that you understand the types of insurance products and the benefits provided and make sure you read the insurance policy carefully. Carefully choose insurance, the benefits you get will be very many.
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