10 Benefits by Type of Insurance in General

10 Benefits by Type of Insurance in General - Insurance is an agreement between the Insured (the party whose life is insured) and the Insurer (usually the insurance company). The Insured party is required to pay insurance premiums per month or year, while the Insurer will pay the Sum Insured when the risks covered occur.

What are the benefits of having insurance?

• Risk Transfer Tool
• Minimizing Losses
• Providing Security for the Future
• Life insurance
• Health Insurance
• Critical Illness Insurance
• Personal Accident Insurance
• Vehicle Insurance
• Travel Insurance
• Education Insurance
• But the benefits can be categorized in general terms and by type. Let's look at the article directly.
• General insurance benefits
• In general, all products and types of insurance have the following three benefits.

1. Risk transfer tool

Insurance can transfer the financial risk you have. With insurance, you can shift the burden of existing financial risks. For example, with health insurance, you don't have to pay all or part of the cost of your hospital bill if you fall ill. The risk is transferred or covered by the insurance company.

2. Minimize losses

Because part or all of the risk has been transferred to the insurance company, you can also minimize existing losses.

You don't need to go into debt to cover financial risks, reach into the savings you have saved for other purposes, or even take from the emergency fund you already have. You can use the money for other things, such as savings or investing.

3. Provide security for the future

 

With insurance, at least your finances will be more stable. In addition, if you already know that the risks in life can be transferred, you will also feel more confident financially. It can also make you feel more courageous to invest or start a business.

So that's 3 benefits of insurance in general and personally for you. However, there are also some benefits of other insurance functions.

Find out the full benefits of each type of insurance here!

Insurance benefits by type

Here are the 7 most common types of insurance along with an explanation of their benefits.

1. Life insurance

As one of the most basic insurances, life insurance has the benefit of protecting your life from the risk of death. Many people use this type of insurance as an inheritance to their children or wives when they later die.

This type of insurance is very important, especially for those who are the only breadwinners of the family. At Super, You by Sequis Online, Super Strong Protection life insurance provides another benefit, which is to cover the risk of age caused by COVID-19.

2. Health insurance

If you have been sick, then maybe you will understand how useful this type of insurance is. The cost of a health bill that continues to soar can be covered if you have health insurance.

It is true, that the health insurance benefit is in the form of coverage of hospital health costs. Depending on the insurance product chosen, the costs covered may vary. Some cover outpatient, inpatient, and ICU care. The nominal is also different, depending on the policy you choose. Therefore, make sure the health insurance you choose is suitable for your needs. You can try My Hospital Protection health insurance from Super You. Only starting from Rp.39,500 per month, get the benefits of daily hospital care costs, daily ICU maintenance costs, and others.

3. Critical illness insurance

Similar to health insurance, critical illness insurance can also cover the whole or part of the hospital's cost bill, especially for certain diseases. For example, in Super You, critical illness insurance is useful for the risk of 3 diseases that cause death, namely heart attack, stroke, and cancer.

Critical illness insurance benefits can be in the form of medical expenses, or they can be in the form of a sum insured given directly after being diagnosed with the disease. Come on, try the disease insurance at Super You. Click the banner below and choose your plan!

4. Personal accident insurance

Personal accident insurance protects you from the risk of accidents that occur. Usually, accident insurance benefits can be in the form of medical expenses for an accident (such as a fracture or surgery), and a sum insured in the event of a risk of closing age or Total and Permanent Disability caused by the accident.

5. Vehicle insurance

Vehicle insurance can compensate for damage to the vehicle you have if there is a risk (whether it's an accident, break-in, or others). This product can be purchased separately or together with the vehicle you have.

Unlike motor accident insurance, the benefits of vehicle insurance focus on the vehicle you have. Meanwhile, motor accident insurance such as Super Motor is more focused on providing insurance benefits that protect the rider or the person being piggybacked on.

6. Travel insurance

Travel insurance can provide various types of compensation that occur when you are traveling. Depending on the type of product, here are some of the benefits of travel insurance:

• Travel delay (delay);
• Loss or damage to baggage;
• Medical expenses; or
• Risk of accidents.

Usually, travel insurance can be purchased at the same time as the purchase of tickets (either plane, ships, or trains). Unlike accident insurance on vacation, travel insurance only works during the trip. Meanwhile, holiday accident insurance, such as Super Holiday, can protect you while still in the holiday period (5 days before and after the national holiday day).

7. Education insurance

The last type of insurance, education insurance can be useful for those of you who have children who are going to school. Education insurance can provide insurance benefits in the form of guaranteed education costs up to the college level. However, of course, all of this depends again on the education insurance product chosen.

In addition, education insurance also helps parents prepare for the inflation of education costs per year. Usually, education insurance has also taken into account the factor of increasing the cost of education.

When are the benefits of insurance felt?

You can feel the benefits of insurance when you experience the risks that are insured according to the insurance policy. If it happens, you can submit a claim to receive insurance benefits.

However, the claim you filed may be rejected. This can happen if the risks that occur are included in the exclusion clause in your insurance policy. Therefore, after purchasing insurance, make sure you check the insurance policy you have carefully!