Millennial generation? Let's understand insurance
Millennial generation? Let's understand insurance | Growing up is hard. Many important things that you do not get in school, one of which is the types of insurance for millennials.
You've tried to search for information on the internet, but all the information is very much and confusing?
If you feel dizzy when you understand information about the types of insurance for millennials, Glints has information that has been adjusted to the needs of millennials.
Glossary
Before you start reading information about the types of insurance for millennials, there are some important insurance terms for you to know:
A policy is a contract agreement that contains what are the rights and obligations of you and the insurance company as long as the insurance is still valid.
Premiums, are several obligations in the form of money that you pay to the insurance company.
Claim, which is the process of disbursement of money or compensation that you get according to your agreement with the insurance company based on the policy.
So, when buying insurance, you will sign the policy and pay a premium. If you experience adverse things that are covered by insurance (according to the agreement on the policy), then you can make a claim.
After understanding the various terms earlier, here are the types of insurance for millennials:
Health Insurance
The first type of insurance that millennials should understand is health insurance.
Health insurance will protect you from any costs that you can spend if you are sick or in an accident.
Well, before you buy this one insurance, there are several things that you should pay attention to:
1. Family health insurance
If your parents enroll all family members into health insurance, you still get insurance coverage whose premiums are paid by your parents.
You don't have to give insurance anymore. However, if you want to have your health insurance, you can discuss it with your parents.
In addition, there are additional considerations for those of you who are married.
Quoted from Oscar, If you follow your parents' insurance program, your partner is not included in this insurance protection.
So, adjust to your needs and abilities, yes!
2. Ask prospective recruiters
Sometimes, health insurance is also one of the benefits you get when you become an employee in a company.
Health insurance registered for employees can be through state insurance (BPJS) or other private insurance.
To ensure this, you can ask your prospective recruiter during the interview.
3. Adjust to your needs
Health insurance is the most basic insurance that everyone may need.
You can use this insurance for regular health checks, such as going to the dentist every 6 months.
In addition, you can use it for routine eye health checks, especially for those of you who have minus eyes or are cylindrical.
However, there are other ways to protect you from health costs at any time, of course with other risks that also lurk.
In addition to health insurance, you also have an alternative in the form of having emergency fund savings just in case you need money for treatment.
Weigh between the risks and the benefits, yes!
Life insurance
Quoted to the Indonesian Life Insurance Association, life insurance is protection for people who are still alive after the death of a person.
If the buyer of life insurance is the backbone of the family, and he dies, then the family he left behind can file an insurance claim.
That is why life insurance can be likened to an "umbrella" that protects your family. Life insurance can be considered by those of you who already have children or a partner.
Because, with this insurance, the child or spouse as an heir will get money instead of money from parents when they are dead.
Vehicle Insurance
One of the other types of insurance for millennials is vehicle insurance.
Quoted from the Financial Services Authority (OJK), vehicle insurance is insurance that provides compensation benefits ranging from damages to loss of motor vehicles.
There are two types of vehicle insurance, namely all risk and total loss only.
All-risk vehicle insurance protects all damage suffered by your vehicle, both small and large.
While total loss only insurance, only protects against major damage, which is ≥75% of the value of the vehicle and losses due to vehicle loss.
Of course, these two types of vehicle insurance have different premium costs, yes.
This insurance can protect four-wheeled and two-wheeled motor vehicles.
Travel Insurance
Are you a millennial who likes to travel? Well, travel insurance can be one of the types of insurance for millennials that is right for you.
Based on OJK exposure, travel insurance is insurance that protects you from risks that can occur when you are traveling, both at home and abroad.
Travel insurance packages can vary. The most basic can protect you when you need expenses if sick during the trip.
A more complete and more expensive package can protect you from delays in departure schedules, loss or delays in baggage, to cancellation of departures or returns.
Some offer protection for the house you live in while traveling, you know. This option is suitable for those of you who leave for a longer period.
Based on the payment pattern, travel insurance is divided into two types.
There is single trip travel insurance, which is travel insurance purchased before you leave and valid for only one trip.
There is also travel insurance in the form of an annual program that guarantees all the trips you make for one year.
Well, after getting information about the types of insurance for millennials, hopefully, you are not confused anymore, yes. Adjust the right steps according to your needs and abilities.