Monday, October 8, 2018

The difference between health insurance and life insurance

The difference between health insurance and life insurance - A loyal reader of this type of insurance there are a great many kinds, among others, namely life insurance and health insurance. However, many people who assumed both this type of insurance is insurance. In fact, life insurance and health insurance have a significant difference if seen from different sides.

In General, the notion of insurance is one form of risk control is carried out by means of redirecting/transfer of risk from one party to the other party in this case is insurance companies.

So, the insurance will hit the finance you should remove that makes You fear if there is a bad risk. But if you don't have insurance, you spend a lot of money is threatened when ill, affected, damaged vehicles, or in other conditions.

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Specifically regarding health insurance and life insurance, so you don't experience the error, here I explain about the difference of the two.

Benefits
Health insurance bear the costs associated with impaired health (illness or accident). Health insurance would relieve a person in hospital, pay the cost of the medicine, the doctor, to the operation.

While life insurance will provide protection when a person died, i.e. in the form of a number of sum assured for his heir. Sum assured becomes a kind of substitute for a living than people who have none.

Another condition that allows life insurance sum assured in order to melt away when someone is no longer able to work because of the experience permanent disability or critical illness (a disease that takes a long time to recover).

There is also a type of life insurance that provides full benefits in the form of additional health insurance and other benefits. 

Type

Health Insurance
Health insurance is divided into several types, among others, based on the Fund Manager and the type of replacement.

Fund Manager
There are health insurance from the Government-run social security governing body (BPJS) health. This insurance is compulsory for the entire community of Indonesia. There are certain groups that are free of the burden of premium payments, but there is also the need to keep paying the premiums in accordance with.

Furthermore, there are health insurance from private parties, i.e. the insurance offered by the various insurance companies.

How the replacement of
In terms of the way the replacement term, there is a cashless and reimbursements. For cashless way, simply by showing a membership card to the hospital insurance, then the insurance will directly bear the costs.

While by way of reimbursement, customer must pay the cost of health care with private funds in advance. After that, the client can perform claim and will get reimbursement from insurers.

Life insurance
Life insurance types as follows:

Futures life insurance (term life insurance) that provide protection in a given period. The premiums are fixed and cheap.

Whole life insurance or (whole life insurance) that provides lifetime protection, usually limited to 99 years of age.

Life insurance dwiguna (endowment) that has two benefits, namely futures and insurance savings.
Unitlink life insurance namely insurance products at one time investment. The benefits of this type of insurance such as life insurance and another generally plus the existence of benefits of investment products.

Example

Health insurance
Astra AVA Healthy Life-Proteksiku
AVA Healthy Proteksiku insurance from Astra Life will bear the cost for hospitalization to surgery. Hospitalization is worth to Rp2 million per day, whereas the compensation worth up to bedan Rp10 million per surgery. The customer can also do double cover, i.e. the claim along with other insurance.  Affordable premiums i.e. start from IDR 185,000 per year.

Life insurance
Prudential-PRUlink assurance account
This insurance is a type of life insurance unitlink, combining insurance and investment products. Benefits if this insurance is registered will get compensation for death or disability total and fixed.

In addition, you can choose the appropriate type of investment risk profile. There are also facilities the withdrawal of the cash value of a part. And, there is an additional insurance products such as hospitalization, as well as accidents. That way, you'll feel the benefits of life insurance, health insurance, as well as investment in a single product.

This insurance provides protection until the age of 99 years. The minimum monthly contribution or premiums of $400,000, and the entry age for insured or participants was 1-70 years

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