Types of Insurance in Indonesia
Unit Link Insurance
Unit Link Insurance is a type of Life Insurance product that bears the personal risk of the Insured, with insurance costs taken from the collection of investments made by the Policy Holder. As a Life Insurance product, the pattern of coverage is similar to Life Insurance for life with continuous payments, the older the age becomes greater, until the insured reaches the age of 100 years. The main difference between Unit Link Insurance is the collection of units invested by the Insurance Company, where the Policyholder places a fund called the Top Up.
Unit Link Insurance is a type of Life Insurance product that bears the personal risk of the Insured, with insurance costs taken from the collection of investments made by the Policy Holder. As a Life Insurance product, the pattern of coverage is similar to Life Insurance for life with continuous payments, the older the age becomes greater, until the insured reaches the age of 100 years. The main difference between Unit Link Insurance is the collection of units invested by the Insurance Company, where the Policyholder places a fund called the Top Up.
Vehicle insurance
Vehicle Insurance is a special type of vehicle insurance, where the risks that might occur to the vehicle are transferred to the insurance company. In the selection of vehicle insurance, the things to consider are financial strength (security), services (service) and costs or expenses.
Types of Vehicle Insurance
Car insurance
Motorcycle Insurance
Type of Protection
Comprehensive
Guaranteed compensation / repair costs for loss / damage in part or in whole on the vehicle due to falling objects, fire, evil deeds, theft, seizure, collision, collision or other traffic accidents. (refer to PSAKBI). (8 years old)
Total Loss Only (TLO)
Compensation guarantee for total loss / damage to the vehicle resulting from falling objects, fire, misconduct, theft, seizure, collision, collision or other traffic accidents. (refer to PSAKBI) (Max. Age 15 years)
Expansion of Insurance Coverage
Guaranteed compensation for losses caused by nature, (tsunamis, floods, earthquakes, volcanic eruptions, storms, landslides) as well as due to riots, riots and terrorism. To get the benefits of expanding insurance coverage, an additional premium fee is required in accordance with the agreement that has been specified.
Dual-use Insurance
Dual-Purpose Insurance is protection that provides the sum insured when the insured dies within a certain period, as well as providing all the sum insured if he is still alive at the end of coverage. Because it provides these two benefits, this insurance is called dual purpose. This product is useful for prospective policyholders who want the insured to be protected from the financial impact of premature death.
Dual-use Insurance
In Dual-Purpose Insurance, customers will get a certain amount of money in agreed periods and the sum insured will go to the heirs if the customer dies. For example, Mr. Ali bought Insurance for 50 years with a sum of Rp. 100 million and agreed to get Rp. 10 million in the 10th year and Rp. 20 million in the 20th year. So Mr. Ali will get a total of Rp. 30 million in the 20th year, and suppose he dies in the 25th year then his family will get Rp. 100 million.
If seen from the benefits, Dual Life Insurance has a premium that is more expensive than the type of insurance we discussed earlier. But the premium is a reasonable amount if you see the protection and benefits provided.
Indonesian Credit Insurance
Askrindo was established by the Government of the Republic of Indonesia cq. The Ministry of Finance and Bank Indonesia in 1971, as part of efforts to develop Micro, Small and Medium Enterprises (MSMEs). Initially to carry out these efforts, Askrindo ran a Bank Credit Insurance business and in the subsequent development these efforts were complemented by other businesses, particularly in the field of guarantee. This new type of service not only enhances entrepreneurs' access to credit sources, but also supports trade flows at home and abroad. All of these businesses basically have almost the same benefits, namely increasing the access of the real sector to the financial sector.
Guaranteed compensation for losses caused by nature, (tsunamis, floods, earthquakes, volcanic eruptions, storms, landslides) as well as due to riots, riots and terrorism. To get the benefits of expanding insurance coverage, an additional premium fee is required in accordance with the agreement that has been specified.
Dual-use Insurance
Dual-Purpose Insurance is protection that provides the sum insured when the insured dies within a certain period, as well as providing all the sum insured if he is still alive at the end of coverage. Because it provides these two benefits, this insurance is called dual purpose. This product is useful for prospective policyholders who want the insured to be protected from the financial impact of premature death.
Dual-use Insurance
In Dual-Purpose Insurance, customers will get a certain amount of money in agreed periods and the sum insured will go to the heirs if the customer dies. For example, Mr. Ali bought Insurance for 50 years with a sum of Rp. 100 million and agreed to get Rp. 10 million in the 10th year and Rp. 20 million in the 20th year. So Mr. Ali will get a total of Rp. 30 million in the 20th year, and suppose he dies in the 25th year then his family will get Rp. 100 million.
If seen from the benefits, Dual Life Insurance has a premium that is more expensive than the type of insurance we discussed earlier. But the premium is a reasonable amount if you see the protection and benefits provided.
Indonesian Credit Insurance
Askrindo was established by the Government of the Republic of Indonesia cq. The Ministry of Finance and Bank Indonesia in 1971, as part of efforts to develop Micro, Small and Medium Enterprises (MSMEs). Initially to carry out these efforts, Askrindo ran a Bank Credit Insurance business and in the subsequent development these efforts were complemented by other businesses, particularly in the field of guarantee. This new type of service not only enhances entrepreneurs' access to credit sources, but also supports trade flows at home and abroad. All of these businesses basically have almost the same benefits, namely increasing the access of the real sector to the financial sector.
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