Life Insurance: What Benefits Provide, Who Needs to Have Life Insurance?

Kaditanews.com – Life insurance is a type of insurance that provides financial protection to your family or loved ones if you pass away. Life insurance benefits can be used to pay for funeral expenses, debts, mortgages, children’s education costs, and other needs.

There are several types of life insurance available on the market, namely

Term life insurance: Term life insurance provides financial protection for a certain period of time, for example 10, 20, or 30 years. If you die during the protection period, your family or loved ones will receive life insurance benefits according to the policy value.

Whole life insurance: Whole life insurance provides financial protection for life. If you die at any age, your family or loved ones will receive life insurance benefits according to the value of the policy.

Unit-linked life insurance: Unit-linked life insurance is a type of life insurance that combines life protection with investment. Part of the unit linked life insurance premium is used to pay for protection costs and some is invested in various investment instruments, such as stocks, bonds and mutual funds.

Life insurance is an important financial product for everyone to have. By having life insurance, you can protect yourself and your family from unwanted risks.

Here are some of the benefits of having life insurance

*Provide financial protection to your family or loved ones if you pass away
*Paying funeral expenses
*Pay off debts, such as mortgages, credit cards, and other loans

  • Paying for children’s education
  • Meet the needs of family life
  • Realize the ideals of the family

If you are interested in buying life insurance, there are a number of things you need to pay attention to, namely

  • Define your needs. How much life insurance benefits do you need?
  • Choose the type of life insurance that suits your needs.
  • Compare products and prices from various insurance companies.
  • Read the insurance policy carefully before you sign it.
  • Make sure you understand the benefits provided by the insurance policy.
  • Choose a trusted insurance company.

Life insurance is a financial product that is important for everyone to have. By having life insurance, you can protect yourself and your family from unwanted risks.

Life insurance is a product that provides protection in the form of insurance money left to the family against the risk of death, accident or total permanent disability of the insured.

Having insurance is now a necessity for everyone in general. Or is it mandatory for everyone to have life insurance? Who needs life insurance?

Those of you with high debt and insurance are not covered

A loan applicant is usually required to pay for credit life insurance. However, this is not the case with other loans such as credit cards, KTA, car loans and other loans. Therefore, if you have such credit that you do not want to burden your family in the future, then you will have life insurance at least until the credit matures.

You are responsible for the lives of others (spouse, children, parents, siblings, etc.)

Life insurance can be used to help families move on with their lives after the breadwinner dies. The pension can also be used to cover the family’s living expenses for the next few years. It is usually about 10 years or until the families left behind can support their lives independently.

You want to make sure your children’s education is complete

If you still have school-age children and want to cover their school fees, life insurance can be used to help with school fees if you have a risk as a relative. This life insurance should be used based on the time of birth of your child.

You have real estate that requires inheritance tax

Throughout your life, you accumulate wealth in the form of material possessions. However, at the risk of death, these assets will be distributed as an inheritance and many debts will be incurred by the heirs (including BPHTB for the heirs, notary or lawyer fees ). If you feel that your family does not have enough money for this, life insurance can reduce the burden.

It is required to be buried in procession or in one place at a high cost

In some tribes, the funeral will be done with some expensive traditional ceremonies. Or maybe you as an immigrant want to be buried in your hometown or buy a cemetery in a region that requires a lot of money. Income from life insurance can help fulfill that wish without hurting the families left behind.

You who want to give an inheritance easily and truly

Life insurance is like a love letter to the remaining heirs, without any controversy afterwards because the newspaper has clearly written the percentage distribution for the heirs.*

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