The need for diverse insurance and coverage is indeed growing. Given the many things that can be insured and guaranteed. For this reason, don’t be surprised by the various types of insurance available in Indonesia. The total can reach more than 20 kinds.
Here are 8 types of insurance on the market:
1. Health Insurance
As if it is common in the community, this health insurance has coverage according to its name. The most famous example is the BPJS health program.
Insurance products are specifically designed to provide assistance in dealing with various health problems for the insured. Coverage of own costs is prioritized to cover the cost of the maintenance process.
These costs can cover the need for drugs, surgery, to hospitalization. Several types of causes of illness or protection covered are usually due to illness, injury, disability, to accidental death. This insurance coverage itself depends on the size of the policy and which has been agreed.
2. Life Insurance
One option that provides financial benefits is life insurance. Often this insurance is associated with financial reimbursement for the insured for his death. The system used for this type itself varies, including claims of funds from insurance companies to the insured or to other parties.
Interestingly, this insurance can also be purchased to provide benefits to third parties. In another sense, a person can insure himself and provide financial benefits to others. Like a parent to his child. This type of insurance available in Indonesia can be quite profitable even though it must be followed by a long claim process.
3. Education Insurance
One of the increasingly popular insurance is educational needs. This type is a favorite of policyholders because it has a better life insurance function for children’s educational assets in the future. Not only that, the various premium fees are also an attraction So this insurance can also be considered as child savings.
In fact, if understood further, this educational insurance has an important factor for the future of your child. Especially considering that the cost of education is increasing day by day. Which was followed by the weakening of the Indonesian currency. Therefore, education insurance is the ideal solution for smart parents in today’s modern era.
4. General Insurance
Although it has a short-term nature, general insurance is often a protection for the risk of unexpected losses. Generally, this insurance is also used as a guarantee of security, loss, to loss of legal liability to third parties. Therefore, this type of insurance is divided into two main classifications.
The first is social security, which is sometimes enforced by force. Although it is quite harsh, but the responsibility of social security is not kidding. Because the coverage coverage is old-age insurance by every resident or the insured. Once again, In general, only a short term of about one year.
After social security, general insurance also has a voluntary insurance classification. As the name suggests, the premium given can be done without any element of coercion. In how it works, voluntary insurance is divided into two, namely commercial and government. Both have different functions and actors.
As in commercial insurance which has a special function to provide protection to certain parties from the risk of unexpected things. For example, an accident in a tourist attraction. That’s why this type of insurance is often found in tourist location tickets. Meanwhile, government insurance will only be implemented by the government.
5. Business Insurance
This one product actually provides almost complete protection for a business. In another sense, everything that is detrimental, such as loss, damage, to large losses will also be included in the business guarantee premium coverage. Financial reimbursement of type this doesn’t even play.
A business that is affected by natural disasters such as fire, explosion, lightning, flood, and other losses will be compensated according to the agreed premium. If you think about it better, this insurance or business guarantee can be a support for a new company or startup.
Especially when you consider all the coverage provided. Not to mention the row of other benefits that can be obtained. Such as employee protection, comprehensive life insurance, business and investment protection, to a health insurance package for all employees.
6. Vehicle Insurance
The increasing demand for private vehicles has become a reference for the soaring demand for vehicle insurance. Car and driver protection is a type of vehicle insurance that is increasingly loved.
This is inseparable from the comprehensive protection that can be purchased. Such as protection that focuses on financial compensation for parties affected by the actions of the insured. Premium This includes financial assistance to cover injury or damage to the affected party’s vehicle.
Not only that, this type of insurance also includes compensation or payment for losses due to damage and even loss of the insured party’s motor vehicle. If it is understood better, it can be said that the insured party can get a lot of profit. Considering the cost of repairing car damage is not small.
If you feel that your vehicle has the potential to experience the unexpected, you may need car insurance.
7. Property And Home Ownership Insurance
As with vehicle insurance relating to personal assets, this type of protection must also be considered. Homes and properties can be invaluable assets in the future. Especially for those of you who want to use assets as future investments, therefore this protection will be very helpful.
This premium and protection itself is quite diverse. One of the most is a guarantee of protection and relief from damage due to the impact of natural disasters and fires. Which may include loss protection due to damage or loss of certain goods belonging to the insured.
8. Travel Insurance
Travel insurance is similar to general insurance. This is because the time period is shorter, namely when the insured travels. That is, from leaving to returning home. Although short, the benefits provided are quite diverse. It can even be an advantage for both domestic and foreign travel needs.
This type of insurance will be very useful for those of you who travel a lot. The reason is, the risk of unexpected things can arise during the trip. Therefore, the benefits provided include and are not limited to protection and compensation for accident costs, treatment, medical evacuation, emergency treatment, and loss of goods.
Is it important to use each kind? Of course not. Any insurance specific to different purposes and uses. therefore, you can choose according to your protection needs. Because every insurance has dependents and the amount of costs is not small.