Traditional Life Insurance Products

Life Insurance consists of different types of products that each have different benefits to meet the various needs and levels of ability that people also differ. Life insurance provided to individuals and groups and are given in various forms of policy. "Policy Life Insurance (Life Insurance Policy) is a policy where the policy is an insurance company promises to pay benefits upon the death of the insured / Insured." Here is an explanation of the three types of life insurance policy is primary :

1. Term Life Insurance, provides the death benefit if the Insured dies within a period of time.
2. Whole-Life Insurance, to provide insurance for life insurance for the Insured and also has a savings element.
3. Endowment Insurance, to provide policy benefits are paid at the time of the Insured dies or the date specified if the Insured is still living up to that date.

1. Term Life Insurance
Characteristics of Life Insurance Products Berjangka:
a) All products guaranty insurance measure providing for a period of time called the term policy (policy period).
b) Benefit policy can be paid only if:
- Insured died in a defined time period;
- Policy-still in force when the Insured dies.
c) If the Insured is alive until the end period of time, these policies can give the holder the right to continue the insurance policy for life insurance. If the holder does not continue the policy of insurance, the policy will expire and the insurance company is not obliged to give more responsibility.
d) life insurance protection measure is usually available in the form of insurance policy, but can be also available in the form of a rider (additional insurance) is added to the policy basically is.

2. Whole-Life Insurance
Characteristics of Life Insurance for life is:
a) Provide for life insurance to the Insured during the policy remains in-force.
b) Provide insurance and guarantee the savings in the form of cash value (cash value).
c) Provide for life insurance with level premium rate (fixed rate premium) that is not increased in line with the increasing age Insured.
d) Provide flexibility to the policy holders to change the contents of the policy is still valid.
e) the policy holder can use the cash value as collateral for the loan policy, and to attract funds from the policy cash value, if it is created.
Life Insurance for life is usually needed by the prospective policy holder who:
• Have the needs in preparing heritage
• Requires long-term financial protection

3. Endowment Insurance
Characteristics of Life Insurance is a dual-purpose:
a) Provide a certain amount of benefit if the Insured alive until the end of a period of insurance or died during the period of insurance.
b) Has the maturity date (maturity date), the date of payment of money by insurance companies to insurance policyholders if the Insured is alive.
c) Can the cash value more quickly.
d) the premium rate is usually fixed.
Life Insurance dual-purpose usually required by the policies of candidates:
• Want to prepare for pension fund
• Want to make a long-term savings
• Want to prepare for children's education fund