It's never too late to start life insurance. With life insurance, you and your family can access much better offers and a more secure future amid life's uncertainties, and avoid a financial burden in the future.
Even today, many institutions offer life insurance services (funeral services) for your later years, one of them being Kamboja. Kamboja is the first funeral protection provider in Indonesia. Kamboja offers trusted and affordable funeral arrangement solutions for you and your family.
Life insurance plays a role in helping a family's financial resilience. For example, when the family's breadwinner becomes disabled or passes away, investments stop, which can disrupt funds planned for education needs or future savings.
Life insurance is also very useful for setting aside inheritance funds to support the lives of the heirs. This life insurance is not meant to avoid death, but rather to protect the income of the family who will be left behind should bad things happen to you.
What Is Life Insurance?
Life insurance is a form of insurance business that provides services in managing various risks closely related to a person's life.
This insurance aims to cover people against various unexpected financial losses caused by a person's death within a certain period.
The benefit of this life protection is a guarantee of certainty for the insured and their family in facing various life risks such as critical illness, disability, and death. This life insurance cannot be enjoyed instantly.
Because its benefits are not felt immediately by the policyholder but by our heirs. One thing you should remember is that life insurance is bought not in anticipation of death, but to ensure that those left behind continue to live in well-being.
7 Reasons Why Life Insurance Is Important
If you want protection for your life and health in the future, millennials should prepare insurance from an early age. Here are some reasons why life insurance is important:
1. Lower Premium Costs
If you decide to get sharia life insurance at a young age, the premiums you pay will be much lower. Being healthy at ages 20-30 is one reason for these lower premium costs.
This will differ if you take out insurance at ages 40-50: the company will charge much higher premiums because your health condition is different from when you were young, and the risk of illness is greater.
2. Serves as Future Savings
Later, the amount you have paid to the insurer will be returned in a larger sum. There is a saying that small money can become big money. These savings can be very beneficial for your family and your children once you have a family.
For policyholders who are not yet married, these savings can later be passed on to heirs. The payout the insurer provides can reach 100% - 200% in the event of illness or an accident resulting in death.
3. Provides Protection
Pure life insurance can provide protection when you face risks in the future. The protection you can obtain will of course depend on the type of insurance you choose.
If you prefer health insurance, you can receive protection for medical care. For life insurance, the insurer will provide risk coverage if the policyholder passes away.
By preparing insurance as early as possible, you do not have to worry about losses from any uncertainties that may happen in the future.
4. Avoiding Financial Loss Risks
For example, when the head of the family or the family's breadwinner suffers a misfortune and their body can no longer function for work, leaving them without income.
Even the worst possibility could be death.
Through a life insurance product, this becomes one of the advantages it provides. Family members who are heirs can receive financial assurance to continue their lives and aspirations.
Another loss it covers is helping to settle debts the insured left during their lifetime, since when a person dies leaving debts, it can burden the family who is left behind.
5. Protects Assets
When a life insurance holder passes away, all the property they leave behind must be considered. Where should assets such as cars, houses, and land be given? Make sure no one who is not entitled to them has already set their sights on them.
The benefits of life insurance also include responsibility for such matters. The inheritance held by the policyholder will be protected so that the property will not be taken by unscrupulous parties who only want to take advantage of the situation.
6. Gives Greater Peace of Mind
This is one of the benefits of life insurance: it gives greater peace of mind.
Did you know? Many families face difficult lives and must overcome many hardships when the breadwinner is no longer there. Not only do they struggle to survive, but many also fall into depression or despair and decide to take their own lives.
Surely you do not want that to happen, right? Therefore, by having life insurance, you are helping to bring peace of mind and making your family's life more comfortable today and in the future.
7. Helps You Manage Your Finances
Rather than spending on trendy coffee or boba drinks every day, you can redirect your money to far more beneficial things, such as insurance.
This insurance can help: money you often spend purely on lifestyle can be used to pay your insurance premium each month.
Apply for Life Insurance Now
As a product of insurance that is truly important for everyone to have, life insurance can help manage future risks by providing benefits to family members when the main breadwinner passes away or suffers permanent disability.
Depending on the terms in the policy, the payout from the coverage can be very helpful to the family left behind in continuing their lives. In this way, through this insurance, you can provide a guarantee for your family's survival so they can keep going well even after losing their family's backbone.
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The Kamboja team writes guides on bereavement, funeral arrangements and funeral planning to help families in Indonesia.
