Friday, March 2, 2018

6 How Can life Insurance Premiums are cheap and good

Insurance soul is important for all the family. But there are still many, perhaps including you, who do not have because of the limited budget. How can life insurance premiums are cheap and good, so despite limited funds You can still have protection.

Who wouldn't want to have insurance protection ? All certainly want it.

As head of the family, I imagine that has life insurance protection that obligation. Because insurance is a financial protection for the family if anything happens to you as the head of the family.

It forms the responsibility of head of the family.

But, I am also aware, many families do not have insurance because of budget constraints. "To live a day – day alone is a budget, let alone have to pay insurance premiums", that's approximately some people vent to me.

Some time ago, there was a young family, with two children who ask to me for life insurance premium reckoned. No matter how long after completed and I submit the results, they were replying to emails and decided put off because of the budget that does not yet exist.

Read Also : The Best Life Insurance Provider Company in Indonesia

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How to deal with this problem?

First, we should all understand that life insurance that doesn't have to be expensive. The premiums can be expensive, it is very affordable.

The second, which is also important, in addition to the question of the premium, the awareness of the importance of insurance in the finance function of the family. Hence, the family must have commitment, expenditure to pay an insurance premium so priority in budget every month.

In this paper, I would like to discuss how you can get an affordable premium.

Life Insurance Premiums are cheap and good

There are several things you can do for this.

#1 Select a pure life insurance
This is the most obligatory you do. Choose pure life insurance or term life.

Because of this type are the most inexpensive premiums. Not only cheap, but the premium sum assured protection.

Because the type does not have an investment element, so that all the premium money to her protection.

I give this term life insurance illustrations. Below is an example of a Term Life Insurance proposal from Manulife.

  • A woman 40 years of age. Only by paying a premium of Rp 4.9 million a year then he gets protection UP USD 1 billion.
  • Premium Rp 4.9 million a year the flats for 20 years.

#2 Start Since a young age
Calculate insurance premiums based on age. How old are you now become a major factor that determines the magnitude of the premium.

Therefore, you who started at an early age will definitely get cheaper premiums than that put forth in older age.

The reason, many are reluctant to take out insurance when still young age. She thought, still healthy so it has not been necessary.

The risk of death we will never know. There have been many cases died young, either due to disease or accident. And the delay, you'll pay more.

Do not take #3 Rider
Additional insurance rider is added in the insurance proposal. The purpose of great rider providing additional benefits.

But, by implication you must pay premiums more expensive.

If premiums outside the budget, be quick – quickly cancel. You can ask agent to reduce rider in the proposal.

Customs agent is automatically added a rider in the proposal because a rider increasing the amount of premium. Agent Commission is paid based on the amount of premium.

#4 Minimum Premium Cheapest
In every insurance company has a limit on the minimum premium. The numbers can be different – different.

I know there is an insurance company sets the minimum premium 400 thousand per month, but there are also 250 thousand per month.

With the provisions of this minimum premiums, insurers would not be willing to accept the proposal by the amount of the premium is lower than the minimum premium provisions. Despite asking the value of sum assured is small, the insurance will not be received, if the premiums fell below the minimum limit.

#5 healthy lifestyle
A healthy life is not only important for health, but provides a relatively inexpensive insurance premiums. Because if it got the disease, insurers will charge Extra premium.

For example, your premium was Rp 1 million per month. But, as found indication of disease, insurers are adding extra premium of $500 thousand, so the total premium that you have to pay to Rp 1.5 million per month.

#6 Avoid Lifetime Insurance
Why? Wouldn't it be nice to protect the participants as long as possible.

The longer the period of protection, the greater the premium you have to pay. Because for that, insurers have to protect you.

In other words, a lifetime of insurance premium costs that are not small.

Lifetime insurance that's waste. Because basically, you need life insurance until the age of 70 years old at most. After that age, you don't have to anymore.

The purpose of taking life insurance is protecting the family financially from risk families experienced a disaster, such as a death, thereby losing a source of income.

If the family has been able to financially, for example, children are already working and have their own income, and you're no longer need life insurance protection. In old age, chances are the kids already and I wish You had died there was a stash sufficient Pension Fund for family income.

You don't have to worry about not being able to have protection and create a family because of limited financial budget. A number of things you can do in order to obtain life insurance with premiums are cheap and good.

Hopefully useful!