Life Insurance What For

Howdy,

After understanding the concept of insurance in the previous post (it is advisable to read them first before proceeding to the article - another article), now I will share examples of cases that occurred in my area. There was one case when I became an insurance agent in the company Manulife - canada. There is one potential customer (let's call Mr. X) who wanted to open a new business that requires large capital (about 1 billion dollars) by time of about 10-year loan, with the courage she borrowed capital and certify homes as collateral to the Bank of loan.

Mr conducted. X is represented most people when they need fresh funds and in a fairly large amount. There's nothing wrong with Mr actions. X, but it is vulnerable to a head of household to bet the house as collateral for loans from the Bank.

As in the concept of insurance (diartikel before), everyone is always going to face the risks. Imagine if Mr. X must face the risk of permanent disability or even death before all his debts paid off. Automatically it will force the Bank to conduct a debt-laundering measures in a way that took the house used as collateral. What about the fate of families who have to bear the financial losses large enough?

How do I avoid these risks? way is to shift the risk we have to deal with third parties (insurance company) by buying pure life insurance with sum assured for the amount of debt that we borrow. Pure insurance contributions are much cheaper when compared to insurance products that have been combined with education, investment and so on.

How does this insurance and its relation to the debt? Polis (agreement between the parties with your insurance company) you get, you can use to replace the role of the home as a collateral certificate to the Bank loan.

What is the cost of pure insurance? Estimated insurance cost estimates for the sum assured 1 billion in the age of 25 years is about 1 million rupiah per month. If the risk in case of permanent disability or upon your death, then the financial loss that must be borne by the family transferred to a third party, ie insurance companies.

so, plan your insurance ....

warm regards,
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