Know the Types and Determining Factors for the Amount of Insurance Premiums

Following the terms stated in the Law, you can find out the basic meaning of insurance premiums. Where in simple terms is an amount of money that must be paid by the participant to the insurance company by the provisions.

The amount of the fee is officially recorded on each policy received by the customer from the company. Although many people think the amount is quite large the contribution is fairly affordable, especially when compared to the facilities provided.

Insurance premiums are of several types, so to take them you need to understand what are the varieties. In addition, the determination of the high and low premiums is also influenced by several factors.

Don't forget to check car insurance here at Lifepal.com, an insurance marketplace that will help you to get the best insurance as needed with affordable premium costs.

Types of Insurance Premiums You Can Choose

Each company has several types of insurance premiums. Where in general the form is individual.

So, what are the kinds of things? Check it out in the following review:

1. Health Insurance

The first type that has the most participants is the health premium. Where later the funds that participants have paid to the insurance company will be replaced by several benefits.

For example, hospitalization coverage, surgery, childbirth, outpatient treatment, to eye care. The amount of the contribution is adjusted to the insurance company's coverage limit, usually starting from a price of RP150 thousand.

2. Life Insurance

Next is the life insurance premium. In this type of participant or customer who has given periodic contributions, later the company will provide the sum insured or compensation by the agreement to the heirs.

The amount is adjusted to the amount of the sum insured. If you choose a large sum insured, then it is in line with the costs you have to pay.

3. Car Insurance

Next, the type of car insurance premium is also one of the favorites for customers. Because they need a guarantee for damage that may occur to the vehicle.

The type of cost coverage that will be provided by the company includes partial, total, and loss damage repairs.

In the type of car insurance, you can adjust based on the type. Starting from All Risk to Total Loss Only (TLO).

4. Personal Accident

Accidents are unpredictable, especially for those of you who are on the way. The existence of health insurance premiums will make it easier for customers to overcome several things.

The reason is, that the company will provide the sum insured due to the accident to its customers. This can certainly help you to ease the burden if a bad event occurs suddenly.

This premium amount is quite affordable. Because you only need to spend IDR 165 thousand per year.

5. Travel Insurance

The last type you should know about is travel insurance. By choosing this type of insurance, later customers will get things to claim coverage for travel disruptions.

In addition, media costs, hospitalization, and compensation money are also the responsibility of the company. The premium amount is quite affordable because it is usually taken only when someone wants to travel long distances.

Determining Factors for Insurance Premiums

Premium ownership for each customer is of course different. In addition, customers also have the right to make payments anywhere, including by utilizing the insurance marketplace.

Well, for those of you who are confused about what factors cause large payment costs to experience differences. Find out in full in the following discussion:

1.Customer Profession

The first factor you may not know is the customer's profession. The more difficult the level of a profession that the customer does, the more expensive the payment fee will be.

You can see this in the example if one customer is a private employee while another customer is a worker in the mine. At a glance, you can see how the workloads passed are very different.

Thus, mining workers certainly need more insurance because the risk or workload they have is quite high.

2. History of Disease

Not only the customer's profession, but the history of illness is also one of the determining factors.

Moreover, if you are a customer with a history of hereditary diseases. Thus, the risk of insurance premiums is greater as well.

3. Customer Lifestyle

Finally, the determining factor for the amount of premium can be seen from the habituation of daily life.

For example, if you are a smoker with a risk of diseases such as hypertension, heart disease, and high blood pressure.

Then, of course, the premium costs that must be incurred are greater. This is because the treatment of for this type of disease risk is quite high.

Those are the types and determining factors for the number of insurance premiums as basic knowledge before having one of the insurance products. May it be useful!