Understand First, 3 Misconceptions About Insurance
Understand First, 3 Misconceptions About Insurance - During the pandemic, many people began to be interested in having health insurance and life insurance. But it turns out that most people sometimes still have misconceptions about insurance.
This misconception is what makes them hesitate so they delay having health insurance or life insurance.
Well, for those of you who don't have insurance or want to add insurance protection, make sure you understand and have the right knowledge about insurance.
The following is an explanation by Faculty Head of Sequis Quality Empowerment Yan Ardhianto regarding 3 misconceptions about insurance that often occur in the community:
Insurance Premiums Considered Expensive
Insurance premiums are often considered expensive. If you compare it with the cost of health when you have to be hospitalized, it is certainly much more expensive. Some argue that the premiums charged to themselves are more expensive than other people of the same age and the insurance product chosen is also the same.
Some think that premiums can be known directly from customer service or social media admins of insurance companies. In fact, in determining premiums, insurance companies first calculate the risks of each individual based on age, gender, occupation, health condition, and lifestyle. That is why everyone's premium can be different.
Premiums are considered expensive so prospective customers immediately refuse because they are afraid that they will not be able to consistently pay and feel that it is a pity to spend money that is not necessarily felt by the benefits.
Insurance premiums are in line with the benefits obtained, so the benefits obtained should be adjusted to our needs.
We can adjust the benefits offered again so that the premium amount can be more affordable. We can also get cheap premiums if we apply for insurance when we apply for insurance, we are young, productive, and healthy.
Conversely, the older the age, the more expensive the insurance premium. Not to mention that if you have a certain disease, it is likely that the premium will be more expensive or the insurance application is rejected.
So, if you want to get a relatively affordable premium then while young and healthy, immediately be insured.
Insurance Equals Savings
People often hope to get more savings-like results from insurance premiums that they have paid regularly. Insurance is a financial instrument that is different from savings.
Insurance is essentially useful for providing protection and a sense of security from financial risks that occur unexpectedly and have the potential to cause large losses.
Insurance funds cannot be taken at any time like savings and do not serve to prepare funds to achieve certain financial goals.
Saving hard can certainly help achieve financial goals but financial goals can be hampered or failed in the event of financial risks, such as critical illness, accidents, and disability or death over time.
Insurance benefits can be disbursed when the Insured is exposed to financial risks according to the provisions of the policy even though no one wants to be exposed to financial risks what is the power of risk cannot be avoided.
By having insurance, you can feel safe and secure on the way to achieving financial goals, such as buying a house, children's education, and pension funds.
Assume a Claim is acceptable
Many people consider that the health insurance claim submitted must be accepted. There are provisions in the policy that are the basis for making claim decisions. Generally, a claim submission has the potential to be rejected if it is included in these 3 things:
• Pre-existing condition or the presence of certain conditions that already exist in the patient before having insurance that is included in the policy exception
• Waiting period that is not by the provisions of the policy. If it has been determined that the submission of a claim cannot be done before the waiting period stated in the policy, then if someone submits a claim before that period, the claim will certainly be rejected.
New customers can submit a claim on an insurance product with health benefits (health insurance) if the waiting period is 30 days and 90 days on insurance products with critical illness benefits (insurance that covers critical illness).
Meanwhile, for insurance products with death benefits (life insurance), there is no waiting period for death claims.
• Each insurance company has different points regarding exceptions. For example, claims of injury due to criminal acts or crimes generally cannot be processed. So when the policy is accepted, make sure you carefully read all the benefits and exclusions.
