Understanding and Benefits of Insurance You Should Know
Understanding and Benefits of
Insurance You Should Know
Understanding and
Benefits of Insurance You Should Know - Registering for insurance is one
form of effort that a person makes to avoid risk factors.
Risk in insurance itself is defined as the uncertainty of
the occurrence of an event that can cause economic losses. Such as theft, fire,
to accidents. Well, to find out more details about the Understanding And Benefits Of Insurance,
you can read in full below.
Definition of
Insurance
Based on a brief explanation of the risks above, it can be
interpreted that insurance is a form of risk control that is carried out by
transferring or transferring risk from one party to another. The transfer of
risk itself is carried out by paying a claim, which is given by the insured
party to the insured party who suffers a loss from an insured event or
condition.
Elements in Insurance
Where it turns out that there are still many people who do
not understand the meaning of each of these terms. Are you one of them? If so,
let's look at the following discussion.
•
Premium
The insurance premium is the number of funds that will be
withdrawn by the insurance company as a desired risk transfer service. In other
words, the premium is an obligation that must be paid by the insured to the
insurer to get the benefits of risk transfer from the insurance party.
What Do You Know About Insurance?
•
Insurance policy
An insurance policy is an agreement between two parties,
namely the insurer and the insured. This agreement is the basis for paying
compensation to the insured for the loss he has suffered. In essence, the
policy contains all provisions that guarantee all losses borne by the insurance
until the information on the insured's data is clear.
•
Claim
An insurance claim is an official application submitted by a
customer against an insurance company, to make payments as a form of
compensation for damage or loss based on the provisions of the insurance
policy.
Insurance Benefits
Insurance certainly brings several functions and benefits
for registrants. The various advantages of registering for this insurance are
the reasons why people are interested in using it. So, what are the benefits
that you can get from insurance?
•
Provides a sense of security and protection for
a person.
•
Minimize the risk of loss that may arise from an
event.
•
Provide certainty from uncertain risks.
•
Can be used as a means of saving and investing
because some insurance facilities have a cash value if they are not used.
•
Insurance policies (life insurance) can be used
as collateral in a credit agreement.
Insurance Shortage
In addition to several benefits that you can get from
insurance, insurance also brings some disadvantages which is the reason many
people avoid it. However, what is the disadvantages of insurance?
•
Funds are forfeited if the customer quits and
can no longer pay the premium according to the agreement.
•
The scope of claim submission is limited.
•
There is no Sharia Board supervision.
Thus a discussion of the Definition
And Benefits Of Insurance that you should know. Hopefully, this article is
useful for you all.
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