19 Benefits of Life Insurance for Personal Protection
5/09/2022
Life insurance generally provides security guarantees for future financial planning. Life insurance is insurance that provides protection from risks after death and the risk of physical disability caused by accidents, illness, or any other cause. Usually the sum assured will be given to the heirs left behind.
There are several benefits of life insurance that you need to know, including:
1. Life Insurance Benefits for Death Risk
The main benefit of life insurance is the most important as protection from the risk of death. For example, if you are the head of the family and die due to an accident or any cause, the insurance company will give a sum of money to the heirs.
2. Life Insurance Benefits for Permanent Disability
Life insurance also provides protection benefits that make the insured or policyholder suffer permanent or partial disability. The insurance company will pay the insurance benefit as agreed in the insurance policy. The insurance benefit will end if the insured suffers a total disability due to an accident because the sum insured is generally paid in a lump sum.
3. Ensure Family Continuity
Life insurance is useful for protecting the survival of the family or heirs if left by the policy holder. The benefits of the sum assured certainly help ensure the survival of the bereaved family. With life insurance, it means that you are protecting your family from future financial risks such as education costs, medical expenses, and other dependents.
4. Future Savings Benefits
Life insurance teaches us to do good family financial planning. By having life insurance you and your family are protected from financial risks. Of course, life insurance provides healthy financial protection benefits in the future. Therefore you will be more efficient and wise in managing future finances.
5. Your money doesn't run out fast
The point here is that with life insurance, you can manage your money appropriately. Life insurance helps you so that money can be allocated properly for the future. That way you will get used to setting aside money per month or per year periodically to pay insurance premiums .
6. Preventing Future Losses
The benefit of life insurance is to minimize the risk of financial loss. Life insurance provides the amount of money as a substitute for losses that occur. This means you don't have to worry about your future financial condition.
7. Provides a sense of calm and security
The benefit of life insurance is that it makes you calmer and safer. For example, if you fall ill or die, you can't predict when it will happen. Life insurance can be an option as an emergency fund for future financial needs if the policyholder has an accident, total disability, or death.
8. There are Investment Benefits
For unit-linked life insurance products, you not only pay a premium for insurance, but you also get life insurance benefits in the form of investment . The sum insured given to the heirs will usually be added to the investment money already contained in the life insurance package. If you want comprehensive protection, you can also try pure life insurance.
9. Have Cash in the Cheapest Way
Why cheap? Because life insurance makes you have to save by setting aside money every month to pay premiums. When the policyholder is disabled or dies, a large sum insured will be paid directly to the heirs. Just imagine the sum insured of Rp 1 billion. By having a life insurance policy, the premium is small, you will be calmer in the future if a risk occurs.
10. Help Pay Off Debt
The sum assured can be used if you have debts that may not be paid off. If your debt is large, this sum assured can be used to cover the debt. For example, if you apply for a large amount of debt such as a mortgage, of course you must have credit life insurance. This product helps pay off your debt. Come on, also read 11 ways to pay off debt .
11. Retirement Savings
For those of you who work in companies or have a profession that does not provide pension insurance, life insurance can be the right choice. For example, unit-linked and dual-purpose life insurance benefits can help you accumulate retirement preparation funds .
12. Education Savings
In addition to education insurance, life insurance can also give you a sense of security and calm to ensure that your child's education cost target is achieved. You can use the sum assured to pay for your child's education in the future.
13. Can bear for a lifetime
In accordance with the types of life insurance, for example whole life life insurance can provide you with lifelong protection until the insured is 99-100 years old. This insurance is certainly different from term life insurance.
14. As an Inheritance Fund
Life insurance benefits can also be used as an inheritance fund. Of course you can have a lifetime life insurance product that is suitable for those of you who crave long-term savings.
15. Future Assets
Unit-linked life insurance can be useful for growing wealth assets for policyholders because unit-linked life insurance has an investment feature and funds can be disbursed if the insurance has expired.
16. Supplement to Medical Treatment
The best life insurance products also include additional insurance benefits, for example coverage for special critical illness medical expenses and other medical expenses. This is suitable for those of you who are married.
17. As a Replacement for Lost Income
The point here is if the policyholder has a disability and experiences an accident that causes death. So the family left behind can get a temporary income.
18. Parental Care Costs
If you experience an accident or risk of an accident and it can cause death. Life insurance coverage can be given to your parents. So your parents can become heirs and secure their financial life in old age or when they retire.
19. Complementary Insurance Package
In general, people will choose health insurance, education insurance, accident insurance, but life insurance is no less important. So so that your health and future financial life is guaranteed, it's a good idea to have life insurance as well.
Thus an explanation of the benefits of life insurance. I hope you don't choose the wrong insurance. Choose an insurance product that suits your needs. At Risdosagala you can get Risdosagala Life life insurance , Risdosagala Well critical illness insurance which includes life insurance, and other insurance products that provide a sum insured. Affordable premiums, per month starting from Rp. 30 thousand. What are you waiting for! Just a few clicks, you are instantly protected.
