Types of Insurance

Types of Insurance - Public interest towards insurance program is still low especially for health insurance product and life insurance. It is allegedly the cause of the low level of interest of the public, especially the Indonesian people, to these non-bank financial institutions is the incompleteness of information obtained by the public regarding this institution in an effort to improve the quality of life in the future. A short definition of insurance is a term that refers to any action, system or business that is liable for compensation for the life, property, and health of unforeseen events such as damage, loss or death. Insurance is widely regarded as a consumption product for upper class people who have more funds and assets that are deemed to need more protection. In fact, insurance has benefits and other advantages for all circles of society.

Insurance by Type

Then, in addition to the general benefits of an insurance that has been mentioned above, each type of insurance also provides special protection that varies according to their respective functions. Some types of insurance that are widely used in Indonesia include:

1. Health Insurance

This type of insurance product specifically provides benefits to the policyholder on health or care insurance coverage in the event of an accident or illness. Health insurance ensures the availability of funds needed to cover your health needs and the family as policyholders. The incident of sickness or accident is not a planned event and absolutely no one wants it to happen. But we can not predict what will happen and how it will affect us. This is the concern of the providers of insurance services to help you in providing health insurance such as hospitalization costs and operating costs.

2. Life Insurance

This insurance is for people who bear unexpected financial losses caused by the risk of death or the risk of living for too long. The use of life insurance will benefit the policyholder community to replace the government's Social Security JPS program, as it helps maintain the stability of the community, and becomes one of the financial resources. This business also provides benefits by opening vacancies.

3. Old Age Insurance

This type of insurance purpose to provide certainty earnings policyholder when it has undergone retirement, and also to his family if the insured dies. This insurance also helps users realize their dreams after entering old age, because the funds can be used for various purposes in the future.

4. Education Insurance

Known as an alternative education savings for children who are planned to undergo a period of school at the elementary school level up to university. Education insurance is divided into two types, namely protection and investment.

5. Property Insurance

It can be said that this type of insurance is less popular among the people of Indonesia. Property insurance is one type of insurance that provides a guarantee to the policyholders to pledge the house or business that became the sub-type of property insurance.

Important assets such as homes, offices, or buildings are now considered to need more protection. By registering insurance for a valuable asset, you will be guaranteed by the insurer in the event of a disaster resulting in the loss or loss of the valuable asset. The compensation suffered when registered as a policyholder will be covered by the insurer.

6. Travel Insurance

It is a type of insurance that guarantees protection to policyholders while on the go such as medical expenses, baggage loss, lost travel documents, and so on.

7. Motor Vehicle Insurance

One type of insurance that provides guarantees of protection from loss or damage to motor vehicles for policyholders. Losses or damages borne by the insurer of motor vehicle insurance services include:

Traffic accidents such as collisions, collisions, and mudslides

  • Evil from others
  • Theft
  • Fire

If you want to feel secure about being guaranteed for any unforeseen events that may occur, change your point of view and mindset that insurance has no benefit or is only reserved for people with middle and upper economic classes. Insurance not only talks about assurance of assets but can also be an investment, a child's cost of education, and health insurance. Still doubt the insurance benefits?