Monday, August 22, 2011

A Good Way Before Choosing Life Insurance

According to the study of human sebuh today could expect to live until age 120 years, even every year around the world may be about 3000 people celebrated the 100th birthday, but not everyone can live that long. Most of us may die earlier in a workplace accident, road accident or because they hurt. The problem is the risk of death is not only the psychological impact of losing a loved one, furthermore the risk of death also could result in financial loss if it happens to the breadwinner. For most families in general the death of the breadwinner, then the inevitable will next run into financial difficulties in line with the cessation of family income.

For those of you who want to avoid unpleasant financial situation, then the answer is to anticipate the risk of financial loss by buying life insurance, which will pay some cash compensation when the insured person dies. Anticipate financial loss by buying life insurance is important for every person who has dependents, especially for those who are married especially if the spouse has no income, plus they already had children. For a life insurance as part of your family financial planning means ensuring that people whose lives depend on you financially will not suffer financial hardship if you die.

However, buying life insurance is also not as easy as it should.Lots of life insurance products currently offered on the market, unfortunately some of them do not provide the maximum benefit in accordance with the money we spend.

Who needs life insurance ?

Anyone who has dependents, or if there is someone else to provide for his life depends on your income. Consequently, if you die and automatic income was also suspended, then that person will find it hard to make ends meet. Most of the income protection needs arising from the risk of death when someone is married and has children. This is when the death of a parent or main breadwinner can cause a very serious financial losses. It is appropriate that measures risk aversion at any time made available on the risk of death occurred and also be able to replace lost income due to death of the breadwinner. The more dependent you are, then the greater the amount of coverage required

In addition to the reasons was the life insurance should also be taken by you who have mortgage debt obligations, especially large debts with a long term payment such as credit home mortgage or car loan repayments. Life insurance is taken specifically is designed to cover debt repayment guarantee of remaining debt, if you as the debtor dies. Thus if there is risk of death to you, should not leave your family or your spouse and your children are in debt payment obligations.

What is the magnitude of the sum insured

Ideally the sum insured provided the insurer should be able to replace the previous income families so that expenditure can be covered. However, to achieve the ideal condition is certainly needed some insurance money which can be very large, consequently the more expensive the premium payment. Like it or not we should be realistic in determining the amount of sum assured.

For example, for a young family it is an important protection as early as possible and not have to force myself to take the insurance with a large sum assured. But what value should be based on the minimum for his family in order to survive. For example, someone recently married man who predicted that with a capital of Rp 20 million, she could support herself by starting a business that until his death. Therefore the man can buy insurance with a sum of Rp 20 million. So no need to jor-rod to set aside money for insurance. Do not forget, there are still many other household needs that must be financed, not to mention having to save for future needs.

For insurance can also be purchased incrementally, so do not need all at once.          Example: back on top, before having a child was quite young families take out insurance with a sum of Rp 20 million. Next after the children, then re-evaluated what his family needs in the long term after the child, for example, 18 years into the future or until the child has finished his school years. Thus man had enough to buy insurance for the needs in that period.Then the next time the child is born, again calculated how much the family needs now after the birth of the child to the two, at least had enough insurance money to help couples or wife left behind to support his family. Make a young family, the death of one of them means their partners should try to maintain family living standards so, at least until the youngest child can be financially independent. So a realistic amount of insurance money that should exist, although not able to meet all household needs for ever.

The amount of insurance money depends on several factors such as age, number of dependents, regular income, and how much debt they have. A young family may need a larger sum, than couples aged 40 or 50 years where the possibility of his sons were independent. When children can have their own income, the necessity of parents to have a certain amount of life insurance sum assured decreases. This is when the amount of the sum insured may be reduced

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