Do I Need Life Insurance Planning?
Before discussing more about Insurance needs, I will first discuss the definition of Life Insurance are as follows:
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Definition of Life Insurance by Law No.. 2 of 1992 read like this:
“Life insurance is an agreement between 2 (two) or more parties with which the parties committed themselves to following institutions insured by receiving a premium to provide a payment based on death or life of an insured person”
While the definition of insurance under Article 246 of the Criminal Code of the Republic of Indonesia goes like this:
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“insurance or coverage is an agreement, by which a person committed themselves to the insured to receive a premium, to provide reimbursement to him for any loss, damage or loss of expected profit, which may be sustained because of an event that was certain.
So in this definition is clear there are 4 elements involved are the insured party (Insured), The Person (Insurer), One Events (Accidental / uncertainty), interest (Interest).
Two Can Play That Game video Clearly here a role of life insurance for the benefit of maintaining the economic value of one if there unfortunate death, so that those who abandoned or heirs can continue a decent life by accepting a certain amount of money available in the insurance policy agreement. So according to the main functions that life insurance is used to transfer this risk of death to the underwriter (insurance company) so that the economic value of the insured (the insured) can be maintained.
The Greatest Game Ever Played video You are now able to understand the intent and purpose of the protection of this one soul, so I do not have a long and direct my insurance said it was necessary for people who are still in a productive period that has economic value or income is used for supporting family life. Especially if your kids were little small, how their future when the “pick-up of the Top” came suddenly. Because we never know about the age of our lives, and this is called an uncertain time of death even though we own all know that in fact it is the certainty of death for all people without exception.
But I saw a funny phenomenon because sometimes some people who already have excessive investment had even wrote passive income of life insurance is still looking at this as a necessity, but ironically many people who do not have much investment or passive income is the insurance rate is not too need because they think their money is limited. Precisely because all limited, we increasingly need to protect this one is to maintain the economic value only so that our family maintained its economic life, if an event of uncertain time for that to happen. However the more established umunnya person will be more aware of the importance of this issue. Believe it or not, the judge of your own!
How big is the value of life insurance coverage you need? Wait for the next article.