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Wednesday, February 1, 2023

THREE THINGS TO CONSIDER WHEN BUYING LIFE INSURANCE ONLINE

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The lack of Indonesian people who have life insurance even though the benefits are very clear is a matter of concern. This is evidenced by the 2011 MarkPlus survey which found that three out of five Indonesians were not prepared to face health or death risks.

In the past, life insurance was known as a “complicated” financial product because it had quite complicated conditions. In addition to the relatively high premium price, prospective buyers must also be observant in understanding the life insurance product they are going to buy.

Technological developments try to reduce the stigma against life insurance. In addition to the increasingly affordable price of life insurance premiums, purchases can now be made online. This system is implemented so that people can choose the best life insurance product for themselves and according to their needs. Not because of pressure or persuasion.

With the rise of buying life insurance online, there are several things that need to be considered in order to get the best life insurance product.

  1. Choose online life insurance whose premium value is affordable and according to your needs. For example, life insurance from Simas Jiwa offers a minimum premium value of IDR 8,500 per month. Simas Jiwa life insurance purchases can be made through the www.klikasuransiku.com page.
  2. Carefully calculate the amount of life insurance coverage that will be obtained. The sum insured is the amount of benefit that will be received in the event of a risk of death. The amount of sum insured will usually be directly proportional to the amount of premium to be paid.

    The Human Life Value method is one way to calculate life insurance coverage. The formula is:

    Average Monthly Income x 12 Months x Estimated Time Needed Funds to Support the Life of Heirs

    As an illustration, a 35-year-old father has a net income of IDR 6,000,000 per month. He has a 10 year old son. Then the Sum Assured required is IDR 576,000,000. This amount is obtained through the following calculation: IDR 6,000,000 x 12 x 8 = IDR 576,000,000. Therefore, you need to look for an online life insurance product that has a minimum sum assured of IDR 576,000,000.

  3. Choose a life insurance company that has an official website and a user-friendly purchasing system. A user-friendly online life insurance purchase system means that when making a purchase, consumers only need to take a few simple steps, for example filling in their personal data, choosing an insurance product, choosing the premium amount, then checking out and then paying according to nominal.

Enjoy buying life insurance online!

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