How to Choose the Right Insurance Products for You and Your Family
You have to choose the right insurance and adapt it to your existing needs, so that the insurance you use can be utilized appropriately and maximally, said the Executive Director of the Indonesian Life Insurance Association or better known as (AAJI) Benny Waworuntu said, in the Journalist Class event & Gathering held by OJK at Akmani Hotel, Jakarta.
For those who want to have insurance products, here are some ways to choose the right insurance for you and your family:
1. Make sure the Insurance Product Seller is an AAJI Licensed Agent
The first way, it becomes important tips to confirm whether the insurance seller is a registered official agent or just a broker. What makes things like this important? if someone becomes an official agent then he will have a great responsibility for the insurance products he sells.
What's more is the responsibility of the client or participant. If the person is not an official agent and does not have certification, the motivation for selling insurance products will be questioned.
The most important thing is if he is a person who does not have experience in his field alias broker, most likely you as a client will be difficult if there is a claim because he can not help you directly, and obviously this is very detrimental to yourself who has already chosen insurance products the.
How do we ensure that the insurance agent is official? namely by asking about the membership of AAJI (Indonesian Life Insurance Association). Every official agent must have been registered and has a AAJI card, both temporary and fully licensed.
So it doesn't hurt if you ask for their membership if you are offered insurance products, to anticipate things that are not desired by you in the future. The most important thing is to ensure that the agent offering the insurance product will be able to help you in the event of a claim or take care of the administration and others.
If the agent does not have AAJI then the first impression that will appear to you is a doubt about the agent's ability and credibility.
2. Know Your Needs and Abilities First
Often you do not know the exact needs of buying something. Buying insurance products is not the same as buying tangible products (can be seen, touched) for example such as cars, houses and others. Because basically insurance products belong to intangibles (can't be seen, touched) but the effect can be felt for a lifetime.
Therefore, the initial consideration that is done carefully is very decisive, because if it is not right in choosing the loss will be felt by yourself for life. Even so you can stop at any time to close the insurance policy. But if this happens then the loss will await you.
When deciding to consider buying an insurance policy for a product from an insurance company, the first thing you do is determine your needs first, for example:
Rian is married and has 2 children, she has a monthly income of Rp.3 million, she plans to buy insurance products to protect herself and her family. What product would be right for Rian and his family?
After an interview that Rian wants: all family members when they die, all family members are protected or protected when they are sick for hospitalization, all family members are protected when they are critically ill, all family members are protected when they have an accident. On the other hand Rian wanted premiums that did not disappear and even continued to increase in value.
Seeing Rian's needs, of course only with insurance products that can handle all those needs. But when he sees his income is only Rp. 3 million per month, the important question that arises is how much funds can be provided to pay premiums per month, after all the daily needs are fulfilled? Alright now let's say that Rian wants to save up to IDR 500 thousand per month.
You need to know that life insurance contains basic insurance elements, namely death insurance and permanent disability insurance. So that all life insurance products can be guaranteed to have this clause (or better known as coverage). It is certain that the other protection is only as additional insurance.
Basically basic insurance and additional insurance have costs that must be paid within a specified period. Usually this fee will be deducted from the premium paid. This means that if we look at the problems faced by Rian above who want the cash value of the premium does not decrease it means there is an investment / savings aspect of the desired insurance. Then he must sacrifice some of his desire to get all the protection.
If Rian wants all of her family members to be protected, it is certain that the monthly insurance costs will be higher and will mean reducing the cash value obtained because the planned premium is only Rp500 thousand. In contrast, if the premium paid is IDR 5 million, we can be sure that all the desired protection can be obtained.
With the reduced cash value due to the burden of a lot of additional insurance costs, it is feared that funds will not be sufficient until the specified deadline. It could even suffer twice the loss of the cash value after the protection stops.
If Rian wants the cash value of the insurance to be more than protection, then a good alternative is to throw away some additional protection, choose the right ones, not include the whole family member in the insurance program but choose those who really need to be insured. So that later investments that have been made will be felt to the maximum.
3. Get to know insurance companies that offer products
You do not need to be in a hurry and confused when buying insurance products, but also not too long, because insurance protection is needed in this unpredictable world, you do not know when sick or have a disaster or even worse to die. To determine the company's credibility is not an easy matter, but the things below are worth noting.
The age of the company really determines the credibility of a company because it proves the existence of a company that continues to run hit by various economic difficulties from time to time. It's just that the age of the company is often not directly proportional to the service and product quality, because there is a long time but is bound to the old management model so that in the end does not develop, but at least this is the first thing you need to question.
Awards obtained, the credibility of a company is also supported by the company's ability to obtain awards. The involvement of insurance companies in the competition is very important because the basis of the insurance business is services. So the commitment to serve customers well is proof of the company's sincerity in maintaining customer confidence.
Capital, there are many opinions that non-local insurance is stronger when compared to local insurance. This assumption is indeed not wrong but not quite right. Indeed, in reality there are local insurance companies that are out of business because the capital is not strong and only as a conglomerate of existing companies. But if we look at not a few local insurance companies that have survived for a long period of time, even at any time can continue to exist.
4. Compare Products with Other Insurance
For the latter way you usually volunteer to go to an insurance agent, because comparing products is the right of consumers, so it is better to get the best insurance product than it already has. No need to rush, ask several insurance companies to make an illustration and start studying the insurance product. Of course the comparison made is inseparable from the prior knowledge of tips, so when getting the most appropriate insurance product it is the result of careful consideration.
By carefully studying a few things that you should consider before choosing an insurance product that will be used, it will certainly help you choose the right insurance product that suits your needs. For that consider well before choosing.
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