Life Insurance and Health Insurance is required mainly for self-employed and informal workers who do not have health insurance from a company or government agency.
An entrepreneur like me when to ill or disabled because of an accident will have a lot of financial losses / financially because they have to bear the cost of treatment and can not work for a living. Another case if a person works in a company or become civil servants, they usually get health insurance that will bear the cost if the sick and fixed monthly salary is paid. (But not all companies provide decent health insurance)
Before you decide what insurance products, from insurance companies which I highly recommend to compare different products, types of products from various insurance companies. Do not rush to buy insurance products without understanding clearly the rights and obligations if we join an insurance product.
Some tips from me to choose an insurance product :
* Determine the benefits of any protection we need
* Find information on insurance products fit our needs by collecting brochures from different companies or searching for information on the website of insurance companies
* Consult the dealer in more detail about the products until the detailed calculation of the overall allocation of funds that we are willing to pay for anything
* Do not believe what insurance agents say, because they do not necessarily understand well the products they offer.
* Have made a mold illustrated the benefits of insurance products, premiums to be paid and the allocation of the premium paid it to anywhere
* Learn the content of the illustrations in the house with a relaxed and thoroughly, do not rush to conclusions, ask a better idea if there is not yet clear
* Compare products from various insurance companies, which provide the greatest benefit with the least expensive premium, but the info or find out whether the company is good or not
* Do not just based on the best insurance award from a magazine, but you should really know how to calculate the insurance costs
* Determine the insurance products of your choice after all you really understand
* After determining and deciding to buy an insurance product we will accept an insurance policy that contains a binding contract between the customer and the insurance company, learn again the contents of the policy, the customer usually within 14 days given the opportunity to cancel the policy.
That was a few tips from me so you do not regret one day if you buy an insurance product without understanding fully the rights, obligations and comparisons with other products.
One more suggestion I was a customer who never fooled with any insurance product, “Do not buy Life and Health Unit Link associated with investment”. Believe cut unit-linked products is very expensive, you better go pure life and health insurance and invest the money into mutual funds separately.
In the next article I will try to give detailed calculation of unit-linked insurance that actually drain money customers, which makes insurance agents are now a lot of very rich by selling unit-linked insurance.