Are you planning a mortgage loan? If so, you need to calculate the EMI of your home loan in order of priority. To get a smooth payment history and clean track record, you need to get the correct EMI amount with the Home Loan EMI Calculator.
What is an EMI Home Loan?
A home loan is an installment loan that is repaid in monthly installments. The monthly payment for a home loan is EMI. EMI is the same monthly payment you must pay to complete your home loan payments over the life of the loan. The EMI payment scheme makes it seamless and hassle-free. Paying off all at once is not a good idea because it will be a burden for most people. Therefore, people choose EMI circuits.
EMI Home Loan Components
EMI home loans include a variety of components. The amount of EMI that you pay each month includes various components such as interest rate, tenor, and principal. These items count towards the EMI home loan.
Principal Loan Amount: The principal amount of the loan is the amount borrowed to pay for the property. EMI depends on the principal cost of the loan. If you take 90% of the property's value as a home loan, the EMI will always be very high. The principal amount of the loan is divided by the number of months in the loan term. Thus, the principal amount of the loan affects the amount of EMI. If you borrow a large amount, the EMI will be very high.
Loan term: The term of the home loan is determined by the lender and the individual. The loan term determines the EMI amount of the home loan. If you choose a long-term loan, your monthly EMI will be lower. This means you can pay a small number of monthly payments each month. If you need to pay off your loan quickly, you can choose a short-term loan. This will help you choose the right opportunity.
Interest Rates: Interest rates are an important factor influencing the size of the EMI. If you get high interesthigh-interest rates, the EMI home loan will always be high. This is a variable component that depends on the eligibility criteria and the financial institution. Make sure you set the right interest rate that doesn't make your EMI loan expensive.
EMI home loan calculation
If you take out a home loan, you will need to calculate your EMI using the correct formula. This will help you calculate the EMI amount of your home loan based on the correct formula. To calculate it accurately, you can always use the EMI Calculator, which offers instant and 100% accurate EMI amounts. Here's the EMI calculation formula to help you get the amount of EMI you need to pay each month:
The mortgage formula calculation P x R x (1+R) N/[(1+R) N-1] is EMI. Where,
P stands for the principal amount of the home loan.
N means the loan term in months.
R stands for monthly interest rate.
EMI = 40,000,000 0.005 1 * 0.005 * (240 + 1) 0.005 / 240 + 1) 28,657 – 28,657 = 0.005
How to choose the right amount of EMI?
Choose the right principal amount to make it easier for you to pay. If you choose the right loan amount, it will not be a burden for you. Make sure you borrow the right amount so it doesn't become a burden for you. If you choose the right principal amount, the EMI home loan is right for you.
Get the right loan term that makes your EMI suitable for you. The term of the loan should be determined based on your ability to repay each month. If you need low monthly payments, you need to take out a long-term home loan. Short-term loans will always have a high EMI, making them difficult to repay.
Take care of all the hidden costs that are included in the home loan. Compare all loan providers to find the right home loan that offers the lowest hidden fees. Hidden costs can be included in the monthly bill and make it expensive. Therefore, choose a loan provider after checking whether the financial institution has hidden fees or not.
Use the online EMI loan calculator to calculate your monthly payments. Using a calculator will always give you the exact monthly payment amount, which you can change by changing your monthly EMI component.
Summarizing
Whenever you take out a mortgage, make sure you use the EMI Home Loan Calculator. It is always better to search the market for affordable mortgage rates. Meet your loan eligibility criteria and choose the right loan provider to get the best price.
Im4U Februari 06, 2022 New Google SEO Bandung, Indonesia
Know how to calculate the EMI of your home loan
Posted by Daftar Alamat Lengkap on Minggu, 06 Februari 2022
The United States is among the top five countries in the world where the cost of medical services is considered the most expensive. What can we say about visitors, if citizens often do not receive emergency care due to the lack of opportunities to pay for it.? For minimum insurance for each family member, you have to pay $400-500 per month. Exorbitantly priced insurance policies are not for everyone. There are quite a few cases where medical assistance is not provided due to a lack of funds, but all of them are not against the law.
Contents:
Types of health insurance in the US
How United States Health Insurance Works
Health insurance costs in the US
What you need to know when buying an insurance policy in the United States
About insurance for children under 18 years old
Free insurance for retirees and the poor
Why do you need health insurance when traveling to the US
Order of payment for insured events
Types of health insurance in the US
There are many types of insurance in the United States. The largest insurance companies are:
cigarette;
Blue Shield Blue Cross;
UnitedHealthcare;
National anthem
There are not only types of insurance, but also plans for their financial support:
type of insurance - EPO, HMO, PPO;
plans - bronze, silver, gold, platinum.
According to the EPO, insured patients will not be able to receive treatment at all clinics, but only at the clinics specified in the contract. It does not cover patient referrals to private practice.
HMOs, limit the patient's choice to one primary care physician (PCP, Provider, Primary Care). Only this specialist can refer the patient to another doctor. In this case, the insurance will cover the prescribed treatment.
READ MORE: insurance direct line
PPO is the easiest option for choosing a doctor, but it also has its limitations. The service will be cheap if the doctor chosen by the patient has an agreement with this insurance company (on the network). If there is none (outside the network), the treatment will be much more expensive.
Insurance companies have many insurance options. Without special training, it is difficult to choose the right option. To do this, you need to have a certain set of concepts:
Premium - the number of monthly insurance payments;
D deductible - the number of advance payments for medical services until they are covered by insurance;
Co-payment - a fixed payment amount for medicines, medical services, or doctor visits;
Co-insurance - the percentage between the patient and the insurance company to cover costs (starts operating after the final deductible payment).
Out-of-pocket limit - funds spent from your own budget for the year, the payment of which you can rely on 100% coverage of their insurance;
Annual limit - the limit covered by medical expense insurance throughout the year.
How United States Health Insurance Works
If an insured person needed $100,000 surgery, their health insurance plan would look like this:
$ 2,000,000 - annual limit;
$3,000 - out-of-pocket limit;
20% - joint insurance;
$1,000 - deductible;
$1,000 is deductible.
This means that during the insurance year:
Patients donate $200 every month.
He paid himself the first thousand for medical services (minus $1000).
After payment (deductible), will begin to be paid (insurance): the percentage of the insurance company (80%) and the percentage of patients (20%).
This order will expire when the insured reaches an amount equal to the maximum spending limit provided for that year from his own budget (out-of-pocket limit) of $3,000.
Insured pays: $1,000 deductible + $2,000 co-insurance = $3,000 paid in full. This means that the insurance will now cover the remaining $97,000. It will continue to cover the insured's needs until it reaches the (annual limit) of $2,000,000. For many plans, the annual cap has been removed since 01.01.2014.
READ MORE: health insurance premiums
Some plans implement payments on a co-pay basis, which means a fixed amount for medical care. If the patient pays $30 for a doctor's appointment, the costs are covered using 2 options:
The company will pay an additional $170 if the cost of the visit is $200.
The Insured will pay $30 and will pay until the deduction is reached. He and the company cover a percentage until the out-of-pocket is reached, after which the company covers all bills in the amount of 100%.
Health insurance costs in the US
The cost of insurance contracts is different. They range from $150 to $500 per month. The final price consists of the following components:
income of one person (family);
type of insurance plan;
country;
medical history;
district;
age.
An American family (4 people) must pay up to $1,000 per month. Many families cannot afford this amount. In some cases, they are assisted by employers who partially or wholly sponsor health insurance for employees and their families, but at a higher cost. This option will be more profitable than buying it on the market. The terms of payment by the employer do not release them from their own budget until the completion of their deductible. Only after that, the company will start paying the percentage due for patient care.
Apa yang perlu Anda ketahui saat membeli polis asuransi di Amerika Serikat
READ MORE: know barbados non life insurance and
The total number of insurance plans is divided into 3 groups:
High/Gold and Platinum are the highest of all existing premiums, conversely, the lowest out-of-pocket, as well as deductible. In this case, the co-insurance will be 80% to 20%. Such a plan is chosen by patients who have the opportunity to regularly visit specialists and receive treatment. They need the policy to avoid high prices. They can afford to pay large sums every month.
Medium/Silver is intended for most patients. This provides a higher premium, but lower out-of-pocket and deductibles. Co-insurance will be in the 80% to 20% range. The plan assumes that the monthly payments will be high, but the budget will remain when contacting specialists.
Catastrophic and Bronze assume that the amount per month (premium) will not be significant, but the deductible will be high and the percentage of co-insurance will be profitable. The plans are accepted by people who save on monthly insurance premiums. If you have to turn to specialists, large sums will be out of the budget before reaching the reduction. The plan is designed to protect against unexpected illness and protect against major expenses if they must be avoided.
It can only be purchased by people under the age of 29. The high monthly payment corresponds to the maximum amount and can be deducted from the low pocket, and vice versa.
When choosing an insurance plan, it is important to consider all the details of the coverage offered:
All insurance companies have 100% coverage for preventive checks by a specialist once a year.
All other expenses will be made after payment by the patient which is deductible.
Each company tries to offer specialist services from its network (in the network).
Switching to another specialist (outside the network) is fraught with reduced payments by insurance companies.
High/gold may offer compensation.
Medium/silver will provide a low percentage of cost compensation (co-insurance).
Disaster will not cover the cost at all.
Therefore, when choosing an insurance plan, you should pay attention to the wide network of medical institutions covered by the company.
About insurance for children under 18 years old
Features and differences exist in child insurance. Many states (Illinois) require insurance for children under the age of 18. All Kids (the insurance company) is committed to providing protection to all children in the state. This includes the following costs:
dentistry;
ophthalmology;
receiving drugs;
visit the pediatrician.
The All Kids insurance contract provides funds for the purchase of physical devices and speech therapy. To qualify for insurance, children must meet the following criteria:
Insurance requirements.
Children under 18 years of age.
Become a citizen.
Every child deserves it. To be eligible for All Children coverage, a family must meet the following requirements:
Number of people in the family Total income per year (or less)
5 $81,030
4 $69,150
3 $57,270
2 $45,390
READ MORE: insurance terms you need to understand
The limit increases as the number of families increases. When employers pay insurance premiums for children, they are still eligible for insurance if they meet the requirements for it.
back to content
Free insurance for retirees and the poor
For sick parents, there is free Medicare insurance. This category includes:
people aged 65 years and over;
people under the age of 65, but with certain diseases;
people diagnosed with end-stage renal failure.
People with limited incomes can get prescription drug coverage or help pay for Medicare. The rules for calculating income depend on the state of residence. Eligibility may depend on the following factors:
have US citizenship;
age;
disability;
pregnancy;
blindness.
The list of recipients of insurance in the Medicaid program includes:
individual Medicare recipients;
recipients of adoption benefits;
pregnant women and children under the age of six from families with incomes below 133% of the federal poverty line;
newborns to mothers with this insurance;
persons with disabilities, including the visually impaired, as well as those receiving benefits (Supplementary Security Income);
categories of people eligible for assistance under the AFDC program, as well as families with low-income minors.
Why do you need health insurance when traveling to the US
Russia's healthcare system is different from America's. Therefore, when planning a trip to the USA for any purpose, you need to consider these differences:
The United States does not provide health insurance.
Citizens buy insurance policies or pay for services from their own budgets.
Health insurance is not simple and confusing.
Insurance is different.
They have many conditions.
All citizens must have it.
The type of insurance can be any, but availability is required. It is impossible not to meet this requirement because at the end of the year you will have to pay taxes for his absence.
By law no. 155-FZ 28.12.15, travelers from Russia traveling abroad must take out a health insurance policy, the cost of which is 2 million rubles. Insurance will provide the necessary medical services free of charge:
receiving drugs;
doctor's advice;
emergency delivery to medical facilities;
outpatient treatment;
analysis;
inpatient.
If the trip involves any type of risks such as playing sports or active recreation, then treatment in the event of an injury or fracture, for this reason, will be provided free of charge. When traveling to the United States on a tour package that includes this type of activity, it is better not to save on insurance. As for the other requirements for travel insurance, they are standard.
To get a visa to enter the United States, you need insurance. It is better to buy insurance in Russia. Insurance coverage must be for $50,000 - $100,000. Before concluding a contract, you need to clarify:
Is the insurance company accredited in the US?
Does he have an insurance program?
Assistant company.
Take into account the risks that will be required in the United States, especially in an emergency situation.
The purpose of the trip must also be indicated, as the cost of the insurance policy depends on this.
You can choose one of the programs that will save you from unexpected expenses in the event of a sudden illness or accident. Program choices depend on how often you have to travel to the United States:
When applying for a visa to visit friends or relatives (guests), you should choose an insurance program that carries the risk of “Community Liability Insurance”. If the insured person causes damage to the property, the insurance company compensates for the loss.
If the work or student visa is more than two months old, there must be an increase in insurance coverage.
For those who receive multiple visas, an insurance program is recommended for one year, during which the number of days of stay in the United States is fixed. Such an agreement is much cheaper than buying a separate policy for all trips.
If an insurance policy is purchased, the cost of medical services is covered by the insurance company. Insurance is protection against unforeseen circumstances associated with seeking medical care in the United States.
Insurance contracts need to be studied. A policy purchased for a visa with a minimum coverage of $50,000 takes into account the following risks:
Provide emergency outpatient services.
Transport of patients to health facilities.
Negotiations with aid companies.
Return based on medical indications.
Coverage of costs in terms of repatriation.
Insurance in the United States includes additional provisions for medical care in the event of an exacerbation of a chronic disease or allergic reaction.
The validity period of the policy starts on the day of departure abroad. The insurance contract is made in 2 languages (English and Russian) in a printed version. If you decide to purchase insurance upon arrival in the United States, you must be prepared for the following risks:
Documents will be created in only one language (English).
The cost of an insurance policy issued by a US insurance company at the airport on arrival will be several times more expensive than in Russia.
Having insured himself against possible unforeseen risks, a person receives protection from financial burdens. At current US prices for medical services:
To call an ambulance - from $ 800 to $ 1,000.
One night hospital stay - $1,000.
Standard surgery costs to remove the appendix up to $60,000.
By comparing prices with odds, you can answer the question of why you need health insurance in the United States.
Order of payment for insured events
If the insured event occurs during a trip to the United States, you must follow the following algorithm of actions:
Within 24 hours, notify the insurance company of the incident at the telephone number specified in the insurance contract. Otherwise, the company will cancel the compensation or make a payment of 250 euros.
Translate all documents into Russian and certify by a notary.
Payment for insured events is made only based on documents requested by the company by the insurance company no earlier than two weeks later.
In the first case, insurance compensation is provided through the insurance company. Payment is made directly to the victim or service company in the presence of a doctor or after information about the insured event has been sent by telephone. Tourists will receive medical assistance within the scope of the sum insured or on a contract basis. The document-level proof is provided within 30 working days. You can not resort to the help of specialists without the knowledge of the insurance company, because the company will not pay for the insured event.
In the second case, the payment is made by the victim himself, notifying the Service Company of the occurrence of the insured event within not more than 24 hours. It is important to keep all checks that need to be presented upon arrival in the country of residence.
Health insurance in the US is required because there is no free healthcare in the US. Insurance contracts are required so as not to go bankrupt in treatment. By paying between $5,000 and $15,000 a year, you can get low-cost care. If you go to the hospital with a fracture without an insurance contract, you have to pay $11,000, and if you have insurance, it's only $240, which is a significant difference.
Im4U Februari 05, 2022 New Google SEO Bandung, Indonesia
Blue Cross Blue Shield, the first powerful health lobby to stop supporting Republicans by voting by the Electoral College.
The Blue Cross Blue Shield Association was the first powerful medical trade group to stop donating money to Republicans who oppose the normal ballot endorsement of President Joe Biden's victory over Donald Trump.
The Chicago-based consortium has stopped donating to about 150 Republicans who voted against Joe Biden's victory in the presidential election, including Marriott, Morgan Stanley, Dow, and Commerce Bank. More and more companies are evaluating political support and will announce them in the coming days.
“The Blue Cross Blue Shield Association continually assesses our political support to make sure the people we support share common values and goals,” said Blue, Cross Blue Shield AssociationPresidentt and CEO Kim Keck, in a statement. declaration The Blue Cross Association represents a total of 36 companies.
“BCSBA has weakened in light of the violent and shocking attack on the US House of Representatives. and a vote by lawmakers to overturn November's election results by challenging the college's election results. We will stop donating to lawmakers voting. for our democracy,” Kek added. "These donations are made only through PACs that are sponsored by employee contributions."
Other companies, including those in the healthcare industry May, follow soon the health insurance industry group America's Health Insurance Plan (AHIP), another powerful health insurance lobby representing Cigna, Centene, CVS Health, and Aetna, among other insurers. other And a major medical company said, "Consider political donations, I have."
Matt Isles, chairman, and CEO of AHIP, said in a message sent to trade group employees on Monday: “Official electoral vote-counting is an important and outdated democratic institution. It is part of it and has a history of uninterrupted peaceful transfer of power.” our great This is the motivation of the country. Despite serious concerns about the safety of those who frequently work in Congress, I am sure that democracy will spread. Peace and order will be restored. And Congress will be able to perform its constitutional obligations again.
What is mental health insurance? When it comes to counseling, people almost always wonder how much it costs with or without a health plan and how to pay for it. The healthcare system and the marketplace can be confusing, but people seek mental health care daily, and we're here to tell you about the many mental health benefits available.
Covered Therapy: Coverage Tips You Need to Know
What types of insurance plans are there for therapy?
There are many ways to pay for mental health care. What does health insurance cover and what can't be confusing at first glance? The Mental Health Equity Act is part of the Affordable Care Act, which requires major health insurance providers and health plans to provide equal coverage for mental illness (including the coverage and drug treatment). Contact your insurance provider for more information.
What types of therapy are covered?
Unfortunately, there is no quick and easy answer to whether your health plan covers therapy or mental health services. The law does not require small health insurance companies with less than fifty employees to have health insurance covering the costs of treatment. The GP's office can also help with these questions, and you can always contact your health insurance benefits department or your insurance company to check your mental health coverage.
READ MORE: insurance direct line
Common coverage issues
Many companies that are not regulated by the Affordable Care Act or the Mental Health Parity Act choose to protect the mental health of their employees. The mental health benefits can be confusing, so we'll outline some of the things to watch out for. Before a therapist visits, it is important to find out if he or she pays for your health insurance. One way to find out is to provide your provider with the information on your insurance policy.
Family members may find it helpful to become familiar with the CHIP Children's Health Insurance Program. People who have been diagnosed with a mental illness, substance use disorder, or other mental illness can get the medical benefits they need and get more information through the Consumer Assistance Program.
Medicaid is a good choice for family members, especially those who have been diagnosed with a disorder, mental illness, pre-existing illness, or who are seeking health insurance/CHIP for children. Learn more about this program at Healthcare.gov.
If you are interested in minimizing costs, you can seek in-office talking therapy, which is covered by your insurance. However, many online therapy options (which may not be included in some market packages) can be significantly less expensive than online options.
READ MORE: health insurance premiums
Questions to ask your insurance
Are there certain mental health services/therapists that my health plan does not cover?
Do I have coverage for therapy/therapists if I have a pre-existing medical condition?
What is the privacy policy/terms of service of this mental health service/therapist?
How many therapy sessions does my health plan cover per year?
Do I have a deduction to pay before my health plan covers services from my health plan?
Do individual or group health plans require co-payments?
Do I need a referral from my PCP for a GP?
insurance network provider
A network provider is a provider that accepts health insurance as a form of payment. In this case, health insurance pays for part of the mental health care. Although they may receive mental health insurance, network health care providers are "inside" your health plan's network.
READ MORE: know barbados non life insurance and
1. The promoter for this offer is Inspop.com Limited traded as Confused.com, whose registered office is at Greyfriars House, Greyfriars Road, Cardiff CF10 3AL. Registration Number 03857130
2. The (“Offer”) is open to customers in the United Kingdom who purchase one annual car, one annual van or annual content or building insurance policy (“Eligible Product”) and which can be verified by the company during the promotion of the Offer on the Website. Any other Products offered on the Website – other than the Eligible Products mentioned above – are expressly excluded from the offer.
3. By submitting an Offer, the buyer is deemed to have accepted and is bound by these terms and conditions.
4. Only one customer per policy purchased is eligible to apply for this Offer and multiple Prizes (as described in point 7 below) will not be awarded to the buyer named in a single policy.
5. In order to submit an Offer or receive a Prize, the buyer requires access to the internet or a valid email address. For Lidl Plus gifts, buyers also need to download the Lidl Plus app from the PlayStore or Google Play apps and provide a mobile number.
6. This offer is not in any other company, without the official permission of the reward company. Without exception, the company will also not give gifts to the buyer if the buyer does not have a valid email, which can guarantee the company.
7. Eligible buyers will be given one option to choose one of the following prizes:
a) Lidl Plus ticket £20
b) 10 free Triple Foam car services at IMO Car Wash
c) £20 Halfords secret prize code
d) £20 Domino e'Gift
Prizes are subject to your terms and conditions which differ from this offer. This will be on the Offer application form and it is important for buyers to read and understand this before registering as changes cannot be made after application registration.
8. In order to receive the Prize that will be selected, the following process will apply:
the buyer must obtain a new quote and purchase one annual car, one annual van or annual contents or building insurance policy through Confused.com. Policies submitted by telephone after bids obtained through the Website will also be eligible for bids provided the buyer has clicked on the telephone button on the Website to open the insurer's contact details and provide the bid and No. reference at the time of the policy customer (Eligible Customer). Applications submitted before the customer meets the requirements cannot be accepted and will be considered failed.
More Info
Know your health insurance premiums
What is an insurance premium?
The cost of insurance is the amount that each person registered with the insurance company as insurance must pay. The amount of the cash payment is determined monthly by the insurance company, taking into account the status of the Client. This indicates that the value of money is not the same for one client and for another.
The function of the insurance premium is to financially return registered customers for future losses. For example, if you have paid your health insurance premiums and at any time become ill and need treatment, the funding for your hospital stay may be reduced or paid by the insurance company from the premiums you paid in previous months.
Factors affecting the amount of health insurance premiums
The premium amount, whether high or low, is also determined by several factors, including the first type of insurance product chosen. If you choose an investment-based type of health insurance, there is no doubt that the cost will be higher than the usual insurance premium.
Secondly, the liability factor for claims that the customer will receive later. This is based on the service products provided by the insurance company. Typically, each insurance company provides different coverage options.
The amount of the insurance premium to be paid is usually stated in the insurance policy document. The presence of this health insurance premium is used to pay insurance costs (cost of insurance).
As a general rule, the higher the risk, the higher the premium you must pay. The following are some examples of conditions that increase health insurance premiums.
1. People who already have congenital or hereditary diseases usually have higher health insurance premiums than people who are still healthy.
2. People who smoke daily will pay higher premiums than people who don't smoke.
3. Meanwhile, overweight people will also pay more expensive insurance premiums than normal-weight people.
Equally important when determining which health insurance to choose, it must be adjusted monthly to suit your needs and income.
For example, those of you who have a monthly salary of more than 10 million rupees are certainly more free to choose the type of health insurance that offers more qualified services. But unlike those of you who have a salary of 5 to 10 million rupees, you will definitely choose the option with a more affordable premium price. Similarly, those who have a salary below 5 million rupees should be wiser in choosing health insurance so as not to interfere with finances.
Also, when buying health insurance, don't just think about the premiums that must be paid. try to find out about the company's track record, ease of filing a claim, and so on.
Prudential itself offers many health insurance products that offer comprehensive health protection for you and your family. Some of them are PRUPrime Healthcare Plus, PRUPrime Healthcare Plus Syariah, PRUCritical Hospital Cover, PRUHospital and Surgical Cover Plus, and many others. !!!
We hope that the above information regarding insurance premiums will help you understand it better. If you are currently looking for the best health insurance, you can choose Prudential Insurance. The reason is that this insurance company has an undeniable authority.
By Adnan sean 2 February 2022
Know barbados non-life insurance and its types
Know Indonesian non-life insurance and its types
It is no longer a luxury and insurance products are now part of the needs of humans, including Indonesian people. In addition, insurance has the role of providing protection.
From protection from property loss due to disasters, accidents and serious illnesses to uncertain events and risks in life. You need to know the types of insurance such as life insurance, health insurance, and "insurance" yourself.
Education ", right?
However, in addition to the above three types of insurance, there are several other types of non-life insurance, and owning them is not so important. However, of course, depending on your situation and needs, you can purchase the following types of non-life insurance.
What is non-life insurance?
Before we know the types of non-life insurance, let's first look at the meaning of the following non-life insurance.
General non-life insurance or so-called non-life insurance is insurance that can provide benefits in the form of compensation to the insured in the event of damage, loss or loss of property.
Now, by taking out non-life insurance, you can avoid or minimize the loss if you have the risks mentioned above.
So do you know what non-life insurance means? Yes, it's different from life insurance, health, and education. Now, for those who are interested in any type of non-life insurance, let's become familiar with some of these types of non-life insurance.
Types of non-life insurance
1. Fire insurance
The first type of non-life insurance that also exists in Indonesia is fire insurance or fire insurance. This general insurance product can protect against the risk of fire.
In addition, fire insurance is commonly used to protect your home from the potential and risks of fire caused by:
-Small and large flames are accidental and generally difficult to control
-Lightning strike
-Electrical short circuit
- others
Fire insurance, as well as private homes, can help protect your company. The reason is that apart from your home, you can also use fire insurance to supply industrial materials from your warehouse, shophouse, or other immovable property, office, factory, or warehouse.
2. Automobile insurance (automobile insurance)
The next type of non-life insurance is automobile insurance (automobile insurance). This insurance product is a type of non-life insurance that protects the form of compensation if both the motorcycle and the vehicle are damaged or lost.
Although it is electric, if the car does not have a license plate number, the loss due to damage or loss will not be covered by automobile insurance.
There are at least two types of automobile insurance today, and they are generally offered by many insurance companies.
-All risks / comprehensive
This type of all-risk insurance can protect against loss and/or damage to vehicles and/or profits caused by collisions, collisions, falls, slips falls, malicious acts, theft, fire, and ferry transport. increase.
-Total loss only (TLO)
TLO type automobile insurance is a type of vehicle protection and has the same conditions as all-risk or comprehensive. However, this benefit only occurs if the vehicle loss or damage reaches 75% of the market price of the dependent vehicle.
Insurance terms you need to understand
By Adnan sean 2 February 2022
Insurance is one of the key needs if you want to have stable, healthy personal finance. In addition to proper emergency funding, ownership of protection should not be delayed. Insurance protects your finances from the risk of loss you may incur when dealing with costly situations. For example, when you get sick and need medical expenses, or when your family's spine dies in an accident, your family's income stops.
Epidemic conditions make the need for insurance better. Due to the risk of infectious diseases and the risk of death, insurance has made significant efforts to maintain physical and financial health and safety as well as social distance. Now, if you are considering buying insurance, you must first determine the main coverage terms.
Understanding the terms of insurance will help you find the right insurance product for your needs. What are the important insurance terms to understand? Listen:
1. Insurance policy
Insurance policy is a term used to refer to a written assistance agreement between an insurance company (insurer) and the policyholder's client. All insurance contracts, be it life insurance, health insurance to loss insurance, are called insurance policies.
The subject matter of the insurance agreement contained in the insurance is the agreement that the insurance provider is willing to bear the risk in the ownership of the insured whose name is mentioned in the insurance policy within a certain period of time as per the agreement. To obtain insurance protection from an insurance provider, the policyholder is required to pay an agreed premium fee.
The insurance policy also includes general policy terms, details of insurance provider's rights and obligations, policyholder, scope of insurance benefits provided, article mentioning security exclusion, article mentioning possible revocation of policy. In addition, the insurance policy usually includes coverage, special provisions, as well as a copy of the insurance application (claim letter).
2. Premium
To receive insurance protection, the policyholder is required to pay a certain amount of premium to the insurer. The premium is defined as the amount of payment defined as the cost of transferring the risk from the Insurance Holder to the Insurance Provider. The amount of the Premium is determined by the Insurance Provider and agreed by the Insurance Holder. The size of the premium will be determined by many factors. Among other things, the coverage of the protection provided by the Insurance Provider, the age of the Insured, the lifestyle or the medical history of the Insured, the gender, in the profession of the Insured.
The more comprehensive and comprehensive the coverage of an insurance policy, the more expensive the premiums are usually. Similarly, if the Insured is considered to have a high risk, the premium is automatically more expensive. Counterparties are usually given the option of paying the premium period. That is Monthly Premium, Quarterly Premiums, Semester, or Annual Premium Payment.
3. Insured Insurance
The term "Insured" in an Insurance Policy refers to the person or party receiving compensation from the Insurance Provider when the risk stated in the Insurance Policy occurs. In a life insurance policy, the Insured is the head of the family or a family member who has financial value. In Health Insurance, the Insured can be anyone, such as employees, children, spouses, parents, etc. Thus, when there is a risk covered by the Insurance Policy, the Insured will receive compensation. For example, when the head of the family who is the insured in the life insurance policy dies, the life insurance premium will be given by the insurance company to the beneficiary specified in the contract.
The insured is not the same as the policyholder. The insured is not necessarily the policyholder. For example, because you buy health insurance as the head of your family, you are called a policyholder, and you are insured. The child and wife you are insured for are also called insured.
4. Insurance benefits
Insurance benefits are protections that the insured receives and are provided by the insurance company. For example, health insurance provides benefits for medical expenses. Outpatient medical expenses and surgery expenses, that is, if the insured is sick and needs medical treatment The insurance company will pay for the medical expenses.
There are also indemnity insurance benefits and compensation included in the hospital's cash-strapped health insurance plan. while you have life insurance Your insurance benefit is available in the form of a Sum Assured Amount (UP) is the total amount paid by the insurance company and given to the heirs or appointed beneficiaries of the insurance contract upon the death of the insured.
Insurance definition: element, function, and type
By adnan sean, 5 Apr 2021
We are not foreign to hear the word insurance again. Unfortunately, this one word has a negative connotation. Especially if you know the name of an insurance company, you'll be able to rest assured that you'll be taken care of.
However, sometimes we shy away from what we know. So, what exactly is it about insurance that makes you nervous? Come on, along with the examples below, see the meaning of insurance, its function!
Understanding Insurance Insurance is a contract between two parties, the Covered by insurance and the Insurer, in which the Insured pays a payment to the Insurer for the Insurer to compensate the Insured for financial risks that may arise unexpectedly.
In today's society, easier and more effective refers to the existing insurance firm, whereas the insured is the consumer.
What is the significance of the insurance factor?
Premiums, insurance policies, and claims are the three primary components of insurance.
Premiums are the payments that a client is required to make throughout the course of the agreed-upon period. Premiums are often paid monthly, semi-annually, or annually.
On the other hand, insurance policies are legal papers that govern insurance contracts. Benefits, premiums, indemnity risks, and exceptions are all discussed (risks not covered by insurance). Insurance policies are legal and enforceable in the United States. If one party breaks a policy regulation, the other party has the option of suspending cooperation or filing a lawsuit against that party.
Claims are a formal filing process with an insurance company if a customer experiences the risks of being covered by an insurance policy. If the claim is made in accordance with the provisions stated on the insurance policy, the insurance company will provide the amount as compensation for the financial risk experienced by the customer.
So what is the function of insurance?
The main function of insurance is to help you deal with the unexpected risks of life. Insurance does not guarantee that these risks will be eliminated, but at least you can minimize the financial losses caused by these risks.
In other words, insurance is our way of anticipating unforeseen circumstances. From the risk of accidents, the risk of getting sick, to the risk of losing the main earner of the family. All of these risks are covered by insurance.
It should be remembered that the insurance function will be more money than the certainty that our money will be returned. The main role of insurance is not to make money like an investment, but to focus on protection from unpredictable risks.
