After collecting savings and emergency funds, you can start investing. However, before starting to invest, make sure you are protected by what is called insurance. Actually, the government has provided health insurance called BPJS Health, but is BPJS Health enough?
Currently, there are many insurances available in Indonesia, ranging from health, life, car insurance to work accident insurance. The function of insurance in general is to protect against the risk of loss, damage, to financial risk due to death. So, the problem is which insurance should come first and most needed?
Do you really have to have all types of insurance available? Of course the premium to be paid will be very high if you have to have all types of insurance. You need to remember that everyone’s needs for insurance are different, there are several factors that influence it.
The reason is that everyone has different financial needs and abilities. What insurance should come first? Check out the list of insurances that are generally chosen and needed by most people:
Everyone certainly has a risk of getting the disease both at an old age and young age. Today you may be able to carry out activities in prime, but no one knows what will happen to your health condition in the next few years. Health insurance has an important role.
When you get sick, either a general illness or a critical illness, health insurance will cover the cost of your treatment and hospital care, both outpatient and inpatient. So you don’t have to worry about health costs anymore.
Then what if you already have BPJS Health? Health insurance can be used in conjunction with BPJS Health. BPJS Health can be used for several critical illnesses that are not covered by health insurance, while health insurance has the advantage of an easy claim process without you needing to go to a level one health facility and so on.
In addition to health insurance, there is also life insurance that provides protection against the risk of loss or loss of a person’s income due to total disability or the death of a family member who is the breadwinner. For example, Budi is the breadwinner with his wife and two children. When Budi died, his wife had to raise his two children by working or doing business.
Well, life insurance can replace Budi’s role for a while by providing insurance money or death compensation. Budi’s wife can use the compensation money to open a business or to pay for the education of her two children.
If asked do you need life insurance? Yes, very necessary if you are a breadwinner.
Every parent wants to give the best for their child, including in terms of education. Well, as a parent you can take care of your child’s education until college later with education insurance. Education insurance is financial protection for children’s education funds if something happens to the insured or parents
In short, it can be said that education insurance is a combination of savings and life insurance. In contrast to education savings, life insurance will pay for children’s education money until they enter university even before the child enters college age.
In addition to some of the insurance above, there is also such a thing as car insurance. Car insurance will provide protection for your car, both new and used cars. There are two types of car or vehicle insurance, namely all risk insurance and total loss only (TLO) insurance . All risk insurance provides protection benefits from all risks, while TLO insurance only provides protection when the car is lost or reaches up to 70% damage.
Which Insurance Is Right For You?
So which insurance is right for you? To answer this you have to look at your financial situation and capabilities. If you are not married, you can prioritize health insurance, while if you are married, automatically you already have dependents so you can consider buying life insurance.
For those who own a car, you also have to consider the risk of the car being damaged or being grazed in the middle of the road. So car insurance can be considered, while for education insurance first calculate the premium paid and the amount of money insured, is it worth it