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11 Important Insurance Benefits To Know | INSURANCE

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Insurance benefits make many people interested in enrolling in this self-protection program. The benefits of insurance can not only be felt by yourself, but your family and heirs can also enjoy it. So, what are the benefits of insurance? Find the answer in the following discussion.

Insurance Benefits in General

There are many types of insurance products. But in general, insurance provides several benefits, as follows:

1. Gives a sense of calm

In this life, we never know what will happen tomorrow. This also applies to all possible risks that can occur at any time and affect anyone. Understanding these conditions, may make our lives restless and anxious.

But don't worry, because now there are many insurance products that can provide protection against adverse events that may occur in the future. For example, health insurance that covers medical expenses when sick or property insurance that can compensate for property damage.

From these two examples, we can understand that by having insurance, our lives become calmer. The reason is if something bad happens, there is already insurance that covers the risk.

2. Minimizing the risk of loss

Broadly speaking, all insurance products have the same functions and benefits, namely minimizing the risk of loss. This is because insurance can help cover losses due to an event.

3. Useful for future savings and investments

The next benefit of insurance is that it can be used as savings and future investments. This can happen because many insurance companies guarantee a return on investment funds when the contract is completed.

Insurance that is used as an investment also usually gives leeway to policyholders in choosing the coverage period. Generally, there are three choices of coverage periods, namely five, seven, and ten years.

4. Help manage finances well

The obligation to pay premiums regularly can actually make a person more disciplined in managing finances. Because automatically we will set aside some money to pay the premium.

Insurance Benefits According to the Type

When viewed from its type, insurance provides several benefits as follows:

1. Health insurance

Health insurance provides benefits in the form of guarantees for health costs or care when sick or an accident occurs. This insurance guarantees the availability of funds to pay for treatment.

2. Life insurance

Life insurance is useful for people who bear financial losses caused by death or total disability. For example, a family head suddenly dies or a total loss causes disruption to the family's financial problems. If the head of the family has life insurance, then his heirs can claim the insurance.

3. Old age security insurance

The benefits of old age security insurance are that it provides income certainty to retired policyholders. Another benefit is helping to realize dreams in old age because the funds from this insurance can be used in the future.

4. Education insurance

As the name suggests, this insurance product is useful for guaranteeing children's education costs. So that the burden on parents in paying for their children's education becomes lighter.

5. Property insurance

This insurance guarantees policyholders when they experience property losses due to negligence or natural disasters.

6. Travel insurance

The benefits of travel insurance are to protect policyholders while traveling, such as covering medical expenses, loss of goods, loss of travel documents, and other forms of losses that occur while traveling.

7. Vehicle insurance

This type of insurance can protect vehicle damage due to traffic accidents, other people's malicious acts, theft, fire, and so on.

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