Get to know the types of insurance before buying, so you don't choose the wrong one!

Get to know the types of insurance before buying, so you don’t choose the wrong one!

Get to know the types of insurance before buying, so you don’t choose the wrong one!For some people, having insurance may be considered useless, because they feel healthy and do not need to go to the hospital.

In fact, insurance has many benefits for the people of Indonesia.

Because, the insurance will later cover or provide compensation if certain risks occur.

Users also learn sharia life insurance ranging from types, examples of insurance to how to learn insurance policies .

Based on the Financial Services Authority (OJK), the definition of insurance is an agreement made between an insurance company and the insured.

The agreement will be used as a reference for premium recipients by the insurance company as a form of compensation when there is a loss.

Here are the types of insurance and their benefits:

1. Life Insurance

This insurance will provide financial benefits in the event of death, sudden illness, or permanent disability due to an illness or accident.

Before choosing life insurance, it is better if you can understand the system and its methods first.

There are insurance providers that provide a payment system after death, but there are also those who provide funds before death.

2. Health Insurance

Health insurance is one of the most popular insurance products.

Health insurance is usually able to deal with several health problems and can protect your finances while covering costs ranging from the treatment process to recovery.

Usually the type of disease that can be borne is illness, disability, and even death.

In choosing the type of insurance policy, you can adjust it according to your financial capabilities.

3. Education Insurance

Preparing funds for education early on can be one way to protect children’s future.

The existence of education insurance is an option that provides various benefits and protection for education.

There are several types of educational insurance provided, such as unit link insurance and endowment insurance.

Endowment insurance is a combined product with life protection whose system is similar to that of a time deposit.

This insurance will later protect the costs for children’s education if the parents die or are completely disabled until they can no longer earn a living.

4. Vehicle Insurance

Vehicles also need protection from unwanted things such as damage or loss.

The benefit of buying a premium for vehicle insurance is that it provides financial protection and peace of mind if you are faced with the risk of damage to your vehicle.

In fact, having vehicle insurance can also determine the selling price of a car that is more competitive.

5. Investment Insurance

You can get insurance as well as an investment known as unit link insurance.

Based on the name, this insurance provides benefits such as cash value and protection that comes from the process of developing investment funds.

The insurance provides two benefits at once, namely cash value and protection from the development of investment funds.

The total premium that will be given by the policyholder will be partially and will be used as protection costs and some will be used as investment.

The insurance provides several protections such as life, accident, health, and critical illness insurance.

Meanwhile, the cash value in the insurance can be used to pay premiums when the policyholder has retired or has no income.

Thus, the insurance policy remains active. You can also use the cash value in this insurance for other financial purposes.

6. Accident Insurance

Usually, many people do not understand accident insurance because they think that the company they work for already provides protection related to accidents at work.

However, you can review work conditions and activities.

If the job is categorized as prone to accident risk, it would be better if you buy accident insurance products.

This is because risks can occur anytime and anywhere while working.