Basically there are three (3) types of Life Insurance, which are:
2. Whole Life Insurance
- Term Life Insurance
- Whole Life Insurance
- Endowment Life Insurance
Term Life Insurance is a basic form of life insurance, mean is the policies that provide insurance against the risk of death in a period of time. Example for Term Life Insurance :
-Age of Insured : 30 Years
-Contract period for 1 year
-Premium Rate (eg): 5 permill / year from the Money Money
-Guaranty insurance: Rp. 100 Million
-Annual premiums must be paid: 5 / 1000 x = Rp 100,000,000. The 500,000
-Appointed as the recipient of insurance money: His Wife (50%) and First Children (50%) Description: If Insured died in the contract, the insurance company as an insurer will pay the money
Guarantee of 100 million to the appointed.
-Age of Insured : 30 Years
-Contract period for 1 year
-Premium Rate (eg): 5 permill / year from the Money Money
-Guaranty insurance: Rp. 100 Million
-Annual premiums must be paid: 5 / 1000 x = Rp 100,000,000. The 500,000
-Appointed as the recipient of insurance money: His Wife (50%) and First Children (50%) Description: If Insured died in the contract, the insurance company as an insurer will pay the money
Guarantee of 100 million to the appointed.
2. Whole Life Insurance
Life Insurance for whole life is a type of life insurance thatwill pay for insurance money when Insured dies at any time. Is a permanent policy is not limited to the expiration date on the policy, such as Term Life Insurance. Because the claim would occur, the premium will be more expensive than the premium term assurance where the claim can only be the case. Whole life policy is a substantive policy and is often used as protection in the loan.
3. Endowment Life Insurance
3. Endowment Life Insurance
For this type Life Insurance, the amount of insurance money will be paid on the contract end date has been set. Endowment Life Insurance example(Combination Term & Endowment):
- Age of Insured : 30 Years
- Contract Period For 10 year
- Premium Rate (eg): 85 permill / year from the insurance money
- Money insurance: Rp. 100 Million
- The premium to be paid: * 85/1000 = Rp 100,000,000. 8.500.000, --
- Designated as the recipient of the insurance money: His wife (50%) and children first (50%)
Description:
1. If the Insured dies during the contract, the insurance company as an insurer will pay 100 million of insurance to the appointed.
2. If the Insured live until the end of the contract, the Insured will receive money
guarantee of 100 million.
- Age of Insured : 30 Years
- Contract Period For 10 year
- Premium Rate (eg): 85 permill / year from the insurance money
- Money insurance: Rp. 100 Million
- The premium to be paid: * 85/1000 = Rp 100,000,000. 8.500.000, --
- Designated as the recipient of the insurance money: His wife (50%) and children first (50%)
Description:
1. If the Insured dies during the contract, the insurance company as an insurer will pay 100 million of insurance to the appointed.
2. If the Insured live until the end of the contract, the Insured will receive money
guarantee of 100 million.
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