1. Recommendations for the 3 Best Types of Life Insurance with Affordable Premiums

Life insurance is like a future savings that can be left for heirs. The customer must pay a premium later the premium will benefit the people left behind. There are always unexpected costs and future events are unpredictable, so you have to be prepared by buying insurance. Here are the types of life insurance that you should know about.

For example, a child buys a policy for his parents, it is a financial protection for the family if the child dies and vice versa. The sum insured will be given to the insurer after the customer pays the premium. Not only that, the policy is useful to protect the risk of customers dying from disease.

An insurance policy can be a lucrative retirement fund for your family. Long-term needs need to be prepared by paying premiums regularly. The nature of this policy is not easy to take every time so it is suitable for use as a pension fund. There are several types of policies that you should know in order to find profitable offers.

Generally, people choose policies that are profitable in terms of low premiums and will not be difficult to claim later.

Types of Life Insurance in Indonesia

There are several types of insurance that are useful for dealing with the risk of death, accidents, and meeting the needs of those left behind.

1. Futures Policy

Term life insurance is a program that aims to protect people who are left behind within a certain period of time. For example, a father buys a policy for his child with a maximum protection period of 20 years. Affordable premium payments are easy to claim that will benefit your child in the future. Term life insurance is the right choice to meet children's educational needs. You can prepare for these needs from now so that they are more secure.

Term life insurance is quite profitable because it gives freedom to customers. They can pay premiums according to financial capabilities. If the beneficiary dies while the contract is still in progress, the policy money will be given to the customer or family. However, the policy money will be considered forfeited if the contract is completed while the customer is still alive and does not experience illness.

2. Whole Life Insurance

Lifetime protection can be obtained by purchasing a policy from a whole life insurance program. Maximum protection of up to 100 years, the policy is suitable for customers who do not have heirs but want to benefit others. This program is a great idea for long term savings especially for hospital bills. This program can be a consideration for those of you who want to have a policy for yourself or provide benefits to other people.

The advantage is that customers who pay premiums regularly can get cash from the costs incurred. This program is friendly for limited budgets, if payments are not made regularly then use the value that has been paid to pay the next premium. The cash value on the policy will not be lost or forfeited even if it is not claimed. Many people prefer whole life insurance because after the contract ends, the sum insured will be given in full.

3. Endowment Insurance

This program is known as “dwiguna” because it provides multiple benefits, namely it can be used as savings as well as term insurance. The policyholder will receive cash from payments as well as a dependent upon the death of the beneficiary. For example, a husband buys a policy for his wife if his wife dies, the husband will get the insurance as well as cash.

You can prepare a child's education fund from this program because there will definitely be unexpected needs in the future. If you buy a dual-purpose policy and then need emergency funds, it can be disbursed as long as the contract period has not been completed. Withdrawals are only valid 1x for a certain period of time according to program rules. If the beneficiary has not died but the contract has ended, cash from the premium will be given to the policyholder.

Before buying an insurance product, you should carefully read the program, especially regarding premium costs, benefits and claim conditions. Don't let your choice lead to losses, the purpose of buying this program is nothing but a long-term investment for loved ones. Do some planning before buying, it is important for prospective life insurance holders to choose the right program.

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