Determining The Right Insurance

Over our lifetimes we can experience a wide range of situations that may suddenly require extra funds. Among other things, ill-health, natural disasters, and so forth. To prepare for this kind of thing happening the financial consultants advise people to start considering and raise awareness of the importance of insurance which is one of the MOST effective forms of support from the financial side.


Insurance means that an agreement has been made between two or more parties, where the insurer is willing to bind themselves to the insured with a sum of money as a condition of receiving insurance premiums, which would then be paid back to the insured if the these losses, loss or damage resulting from any third party action or an event that occurs because of certain factors. The insurer will also provide payment if the insured dies.


A simple example, a married couple buy a new home. The pair know that they will have difficulty financially if they lose the house and its contents. So this couple filed a homeowner’s insurance protection plan so that they will get a replacement cost for damage to the house at any time should a disaster befall them. However, they will not get cost of replacement for free. They are required to pay insurance premiums to the agreed amount each month, which will be channeled back to them if absolutely necessary.


In addition to benefits for consumers, insurance is also seen as a promising new business area, along with the increasing awareness of people in big cities using the services of an insurance company. Various promotions have launched a number of insurance companies through mass or electronic media, promising a number of facilities to attract consumers as much as possible. However, which type of insurance which one should you choose?


There are several types of insurance that insurance companies generally offered at this time for your consideration.

  • Life insurance

This is one kind of insurance that you may often hear, see or read in the print media and billboards. This insurance is intended to cover a person from financial loss due to the death of a family member who had previously been able to bear the entire cost of his life. In addition to death, life insurance can also be used to ensure the survival of someone who was unable, for whatever reason to make a living. To become a participant of life insurance you can simply register your name or family member and deposit a certain amount of money every month as an insurance premium.

  • Insurance for Education

The cost of education is an increasing burden for parents who want the best education for their sons and daughters. You can choose insurance education to ensure your children achieve a brighter future. This is similar to the education insurance education savings, where you have to set aside some money every month as an insurance premium which can only be taken after a certain period of time, which is when your children want to continue their education to a higher level.

  • Vehicle Insurance

A is a special insurance for motor vehicles (motorcycles and cars) that transfers risks (theft, accident, vandalism, riot, natural disaster) to then be borne by the insurance company. There are two kinds of vehicle insurance, car and motorcycle that you can choose based on the type of vehicle that you have. The type of protection offered is comprehensive (for vehicles owned for a maximum of 8 years) and a total loss only (TLO / for vehicles owned for a maximum of 15 years). Premium payments can be paid directly through the bank or insurance company that you have chosen.

  • Property Insurance

You may have a number of immovable assets such as houses, shops, stores and other buildings, and can sometimes feel worried about what would happen for example if hit by fire damage or natural disasters. Buy health or property insurance to secure your properties from a variety of adverse events. Property insurance is similar to car insurance, the difference lies in the type of assets to be borne by the insurance company.