Thursday, April 4, 2019

Choose Term Life Insurance

I would like to reiterate that I choose the Term Life Insurance, or life insurance commonly referred to as pure. Why? The reason is simple. Cheap premiums to the value of the coverage that suits your needs protection.


If there's a cheap, why should be that expensive.


If you want to know more detail, why is it better to choose term insurance – life, can read the following resources:
  • Financial planner blog Ligwina Hananto (www.qmfinancial.com). Article explain the superiority of term-life insurance than the other. The explanation is simple, "to the point" and very reasonable.
  • The Book "Do Not Buy Unit Link ..." bouquet of Freddy Pieloor. The book dissect unit links (UL) using real examples of various policy UL from some insurance companies. Mr. Freddy used to be an insurance agent. As the insider, he presents a detailed and insightful.

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After reading the source – the source above and compare with explanation and propaganda of agents that offer other products, you can decide for yourself. Need term life insurance-life, like mine, or choose other types of life insurance. That's your decision.

Message me one.

Whatever the choice, do it with a mature and thought-provoking considerations.

Do not select the origin.

Do not buy because of the bad taste or pity. Hesitate with his agent, bored questioned and pursued – pursued at every opportunity. Buy with confidence that the selected insurance is indeed the most suitable and needed.

Life insurance is purchased for the sake of protecting the future of children and families. If one chooses, those who will be affected.

Back to term insurance – life.

My experience of searching for term insurance – life, hard – hard-easy. Why, why be difficult? Instead of the agent are usually very aggressive looking for prospective buyers.

Well, because term premiums – life is relatively small, a bit of insurance companies that want to sell it. Even some of the companies have already begun to blot out these products from their portfolio.

Not that alone.

In a meeting with some of the agents, I feel the term-life insurance is not a product that so priority to offer.

If not asked, the dealer does not offer a term-life.

Thus other products, which the premiums more expensive, more aggressive sale. Imagine, if the blind prospective buyers reserved the question of insurance and rely solely on the instructions of the Agency, can be sure he will not know the term-life.

First, I asked why could be like this.

Oh, it turns out, the Commission agent is determined from the value of the premium.

Hence, the logical consequence, term – the smaller the premiums of the life, not in order of priority so the quote. Other products with higher premiums, so the more obese, his Commission is always proffered in advance. Though, just maybe, a term – life is really best suited for potential borrowers.

So, when buying term – life, need to be prepared mentally to be more talkative ask at the dealer.

Do not let go.

Ask from the beginning to the agents, before were shot with another product, if the insurance company had a product term – life. Have to be patient and not easily give up while looking for it.

Term Life Insurance – Life

I've been offered life insurance claims as the term – in life. In fact

How to ensure insurance includes term – life? At least, the following characteristics need to be owned.

First, the protection period is limited, that protection is valid only during a certain period. Most short 1 yrs old, while most can be 20 yrs. Free protection period is chosen, depending on the needs.

Insurance that provides protection for life, or until 99 years, certainly not a term – life. This type of insurance called whole life.

Period of cover becomes important. The protection period is limited to lower the price premium. The more expensive, the length of the premiums. 

Anyways, what needs to be covered until the age of 99 years?

Average median life expectancy – (life expectancy) in Indonesia ranges from at the age of 65 years. It was not until the age of 99 years mostly already deceased.

Anyway, if any had the age above 65 to 99 years of age, children are so assured already certainly has lived independently so no need man's fees from parents again.

For what have the insurance coverage during this time, which consequently have to pay premiums more expensive.

Second, critical, term-life gives no cash value. The cash value is money that is being restored when there is no claim. Without the cash value, meaning scorched premiums. There is no refund of premium on long-term – life.

This is a distinguishing term life and whole life with UL who both gave the cash value. The policy owner is entitled to return the cash value tsb if no claim or the cash value can be used as collateral for a loan payment of premium.

Again – again a matter of price. By not providing the cash value, the price term insurance premiums – life becomes more expensive than the other types of insurance. Cash value was not free but there's a price. That is, the more expensive premiums.

So, if anyone is reluctant to take term life, with reason hangusnya premium, money needs to be prompted more expensive premium price instead of just the same, or even greater, compared with no return of premium money.

Premium did not return but compensations be cheaper premium prices.

Third, the amount of term insurance premiums – life can be just during a certain period (e.g. five years) after that go up, or increasing steadily each year.

For example, the first five years, the premium paid for the flat in 1.5 million per year, then entered the sixth year rising to 2 million flat again until year 10 onwards.

Whereas, the other, a premium the first year of 1 million, second-year rise 1.1 million, third year up again about 1.2 million and so on.

The kind of premium that changes every year imposes the first-year premium is cheaper than flat premiums. While the type of premium flats, the initial premium is greater, but the premiums do not change during a certain period.

I chose the premiums go up each year, instead of the flat. Salary increment each year is expected to be able to neutralize premium increment each year.

So, even though the premiums to rise, but at a percentage of salary, payments against premiums unchanged.

So the question of the term of insurance – life. Can ponder and consider, prior to buying life insurance.

Want to know can view Term Life insurance premiums.

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