Types Of Lost Insurances

Insurance is a form of financial risk control carried out by transferring risk from one party to another. Yet by having insurance, you can not only protect yourself but also assets of various risks that may occur in the future. If you need further information or consulting services please visit https://www.iselect.com.au/business-insurance/professional-indemnity/

Each country has many types of insurance to choose from. If you are still confused in determining what insurance you need, consider the following explanation:

1. Life Insurance

This type of insurance is quite popular in some countries, for example in Asia, because it can be used to anticipate the possibility if you are affected by a disaster and leave the family you are living for forever. Life insurance itself is a type of insurance that usually provides financial benefits to the insured for unexpected events, such as death.

Even so, there are insurance companies that allow the insured insurance policyholders to claim funds before dying. That way, you can have savings, because premiums are paid regularly. Unfortunately, this is not recommended considering there are penalties that you must bear.

Life insurance can be purchased either for one’s own benefit and on behalf of the insured alone or purchased for the benefit of a third person.

2. Health Insurance

Health insurance is the most popular insurance and is the most widely used in developed and developing countries. Health insurance is an insurance product that handles insured health problems due to an illness, including covering the costs of the treatment process.

Typically, the types of diseases that can be borne by the company are injuries, disabilities, illness, and death due to accidents.

Health insurance can also be purchased for the benefit of the insured or the interests of a third person only. Both health insurance and life insurance will be very good if you start buying from a young age so that the funds you have are large and can be used more quickly.

3. Insurance Education

Education insurance is now an important thing, the article education costs continue to rise every year. Meanwhile, parents always want to provide the best for their children.

Be an insurance education one solution that is believed to help parents to prepare education funding for their children.

Education insurance is the best alternative and solution to guarantee a better life, especially for children’s educational assets. Premium costs that must be paid by the insured to the insurance company usually vary according to the level of education you want to obtain. Usually, the smaller the age of the child, the cheaper the premium paid.

4. Property Insurance

Different from life and health insurance, property insurance covers your valuable assets, namely property, both landed houses and apartments. Therefore, in order to avoid the risk of unexpected, many people are looking for this type of insurance to protect their homes.

This insurance can provide protection against loss or damage that may occur to the assets of the insured, as well as various natural disasters such as, struck by lightning, floods, earthquakes, and also fires.

Property insurance can also be combined with packages that guarantee the protection of all property in the house. So, not only buildings are protected, but also valuables in them, such as jewelry and collectibles.

Property insurance also protects and provides relief if the house or other insured property experiences other calamities such as a fire.

5. Vehicle Insurance

Although not commonly found in some countries, but this insurance exists in several countries, this type of insurance is widely offered by insurance agents.

The goal, of course, is to protect the damage to insured vehicles, especially if the vehicles they have are quite expensive and luxurious. Vehicle insurance can also cover the loss or damage of the insured motor vehicle.

Vehicle insurance is also considered a solution to ensure safe assets given the level of motor vehicle theft in Indonesia is also fairly high.