In real life - the day we are, there are some risks that are difficult to avoid and can occur at any time, among others: premature death, severe pain and disability after suffering a particular illness such as stroke disease that causes paralysis. Although we try to keep ourselves as well - good, yet we will never be able to guess when we will need the insurance because we can not predict when we will experience a disaster and the risk that unexpected. This is where the important role of insurance is to minimize the risk that our responsibility if any - time we have developed things we do not want.
In the insurance world, there are two categories of insurance that we know the life insurance and general insurance. In this module, we will discuss more specific on the basic concept of life insurance and the various terms that we must understand before applying for a life insurance application. It actually does life insurance? Life insurance can be defined as a transfer of the risk of financial loss by the insured at the insurer.
Before delving further into the topic of life insurance, we will first discuss some common terms used in the life insurance include:
- Policy is a term used to describe the physical life insurance agreement made between the insurer and the policyholder.
- Premium is a term that describes the amount of money paid by the policyholder in the insurer to obtain a value of protection against undesirable events.
- Sum Assured which is the amount of funds that will be given to the beneficiary or the policyholder if the policyholder is due or that the insured party dies.
In addition to the general terms mentioned above, there are still some terms related to the parties - the parties involved in an insurance agreement include:
- The Insurer is the insurance company designated to bear the risk that will occur on the insured.
- Policyholders Party as the party which decided to hold insurance
- Life on the insurer and also as insurance premium payers.
- The soul Insured is insured parties on the insurer.
- Appointed Person is a party designated by the insured to receive the sum insured of the insurer if the insured party dies.
Having life insurance means that we minimize the risk to be borne by ourselves and our families in case of unwanted things someday. So consider filing a life insurance for you and your family.
Benefits of Life Insurance
We never expect anything bad to happen in our lives or in our families, but even though we've been trying to keep ourselves and our families as well - certainly good risk for experiencing things - unwanted things like illness, accident or even death can not be avoided. in where life insurance plays a role in our lives.
By having life insurance for ourselves and our families, we are managing the risk that we will encounter in preparing a number of funds that will be beneficial to our families if something unexpected happens to us.
To find out more about the benefits we can get from the life insurance let us look at some examples of the cases below:
Examples of the first case, an accident that resulted in lifelong disability for the victim. For example, someone unexpectedly had an accident and suffered a disability that does not allow him to be able to work again. If the person had life insurance, the person does not have to worry about how his family will get a cost of living because the person will receive the sum assured as life provision in the future of the insurer which in this case is the insurance company.
Examples of the second case, critical illness and had to be hospitalized. For example, there was someone who looked healthy and showed no symptoms of any disease arrived - got diagnosed with a critical illness. If the person had life insurance, then the insurance company will pay money to offset the cost of treatment. The insurance company also will reimburse the amount of money people spend during hospitalization. The amount of money reimbursed by the insurance company depending on the agreement and insurance products.
Example of the third case, died. Death is inevitable in human life. If someone already has life insurance so when that person dies, the heirs of the person will receive the sum assured from the insurer that is the insurance company as a provision for the families left behind. This will be very useful if the person who died is also the backbone of the family.
Of the three examples above cases there alone, we can already see the benefits that we can get to have a life insurance. If you are willing to spend money to insure your car whose value is not comparable to the value of your life, why would you not insure your life too? Consider the value of a life insurance so that you do not regret later on.
Insurance Claims System
Nowadays we can find a lot of insurance companies are racing - race to recruit participants insurance. Products offered are diverse and of course at competitive prices. Sometimes, we find similar insurance products of more than one insurance company and the price is also quite competitive, so we are so confused to determine our options. Actually there is a way to be able to determine the choice of insurance products which we choose the system that takes into account the claims of the company - the insurance company.
In general, there are 2 kinds of succession systems are usually Adopted by a company health insurance companies in the world and the system provider reimbursement system.
Insurance company reimbursement system that adheres or which is also known as replacement system requires us to issue the participants insurance money first to pay for medical expenses, hospital fees, lab fees and other expenses and then we can make a claim and receive reimbursement from insurance companies a place where we become participants of health insurance.
As for system providers, as insurance of participants, we do not need to spend any money in advance to pay for the entire cost of treatment associated with us. We only need to show a membership card to Obtain health insurance for health care that we need.
Of the things listed above, as if the system provider - will seem more fun because without having to spend money first, we are able to receive health care that we need. Actually, both systems have advantages and disadvantages of each - each. In the reimbursement system, although we have to spend money first before we can receive health care and then we receive the sum back from the insurance company after submitting a complete administrative documents (usually liquid reimbursement will be approximately 7 days from the submission of documents - documents and hospital administration costs that are not 100% but replaced in accordance with the original agreement), but we can define their own profits at the hospital where we will get health care and it's up to us.
This is very different from that applied in the provider system, in which the participants only need to show insurance health insurance membership card without the need to advance funds to get health care. In the system provider, our freedom to make choices which hospital to get medical care is limited to the list of hospitals that work with our insurance company. Means that if we want to get health care from other hospitals that do not exist in the list of collaboration, our health insurance membership card can not be used.
Both kinds of insurance claims system has advantages and disadvantages of each. Now the decision is in our hands whether we opt for a system or system provider reimbursements.