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| Beli Produk Asuransi Bikin Rugi, Apa Benar |
Talking about insurance, Sipundi.id CEO, Mada Aryanugraha admits that he often finds some people who don't seem to understand the function and how insurance works. They complained and criticized the protection product.
Interestingly, after studying and investigating complaints related to insurance products, either through clients he has worked with, family, friends or from seminar participants he has attended, some of them complain because they feel a loss and some feel that the benefits they get are not in accordance with required.
From these complaints, the most interesting thing is found the word loss. Mada, an Independent Financial Planner who has been certified since 2011, also looks deeper, and reveals, most of them feel a loss because they have paid premiums for years but do not get anything until the insurance period expires.
Why is the reason for this loss an interesting thing for him? Because insurance is an important thing to have because of its role as protection or protecting yourself from life risks that can cause financial losses.
"So basically insurance is protection, protecting oneself from possible financial losses. In accordance with the basic principle of insurance, namely "utmost good faith" which means full good faith and aims to provide protection," explained Mada.
The sentence that Mada often complains about is "I have paid health insurance premiums for more than 10 years, but have never made a claim, and there is no money back until the insurance contract expires,".
This, Mada said, should be grateful, because it turns out that health has been given so that he does not experience illness and has to be hospitalized in the last 10 years, even though it means that no claims have been made and additional benefits have not been felt.
New insurance will work to protect, even when there is a risk in life. As long as there is no risk, then the insurance will only be on guard to be aware of the conditions over time.
Likewise with unit-linked products, namely protection insurance products associated with investment.
Mada also found that some customers had a misperception when they found out that the cash value of the insurance was not the same as the premium paid, this was due to the customer's ignorance or the customer's lack of knowledge regarding unit-linked insurance products.
In fact, unit-linked insurance products are insurance products that emphasize the benefits of protection. However, this product is unique in that it also has investment benefits. Therefore, the premium paid by the customer is allocated to pay for insurance and investment costs. Learn more about insurance costs at the following link: https://www.prudential.co.id/id/pulse/article/selain-premi-ada-cost-insurance-lain-yang-obligatory-paid-apa -only/ .
As long as the protection is still running, the customer must continue to pay the insurance fee. If at one time the customer wants to take premium leave or temporarily stops paying premiums, the protection benefits continue.
Premium Leave, does not mean that there are no more insurance costs to be paid. When the premium leave is carried out, the insurance fee will still be charged, deducted from the cash value of the investment that has been formed.
Therefore, of course, the cash value will decrease because it is used to pay insurance costs according to the policy. The uniqueness of the protection benefits and premium leave makes unit link products cannot be equated directly with deposit products, mutual fund investments or even stock investments.
Furthermore, unit-linked cash value fluctuates in line with capital market developments or market risk caused by economic conditions and/or capital market sentiment which can cause investment value to increase or decrease, as a result, the value of units owned by policyholders also increases. follow market movements.
According to Mada, the sense of loss that insurance customers seem to experience is due to 2 factors.
First, because of the low level of customer knowledge or literacy related to insurance products. So often customers buy insurance not because of basic needs.
Second, because of the misexpectation factor between insurance marketers and customers due to customers not studying and understanding well the agreed agreement or policy.
These factors can be avoided by prospective customers by studying, finding out about the insurance product to be purchased, and understanding the policies that have been mutually agreed upon before signing the agreement.
It is also important for prospective customers to read and understand the illustrations and policies in detail. If there is something you don't understand, don't hesitate to ask the marketers or insurance companies directly.
In general, every insurance company has provided various trainings to its salespeople to ensure they have the knowledge and mastery of detailed product information to be sold. Even OJK (Financial Services Authority) through AAJI (Indonesian Life Insurance Association) requires insurance salespeople to pass an exam and have certain certifications first.
There is also a free look period, a period of studying the policy with a certain time span so that if it does not match then the customer can cancel the policy and get the premium money back which of course is reduced by related costs.
In this case, it is also important for prospective customers to ensure that the selected insurance product is in accordance with their needs and comes from a trusted company.
For example, the insurance company Prudential Indonesia has a variety of products that can suit the needs and financial plans of customers. Prudential has also led the life insurance market for decades.
This insurance company has protected 2.5 million insured and paid claims and benefits of up to IDR 16.6 trillion throughout 2021.
So, is Unit Link Insurance harmful?
For Mada, Unit Link Insurance will not provide any losses, as long as it is according to need. If indeed the unit link is detrimental, of course it will not be possible to last for decades, where unit links have entered Indonesia since 1988. And of course OJK as the regulator will prohibit the sale of unit links if they are detrimental.
Even based on data in 2021, the contribution of unit-linked premium sales still dominates up to 62.9% of the total insurance premium income throughout Indonesia, this shows that the Indonesian people still believe in the benefits of unit-linked insurance.
Moreover, in 2021 alone, there have been recorded Rp 101.57 trillion in total claims that have been paid to unit link customers nationally from all insurance companies, indicating that there are already benefits felt by unit link customers.
"I once again remind you that insurance is an important part of financial resilience, where the main benefit is as protection or protection to prevent us from financial loss, not to seek profit. Therefore, be wise in buying insurance, make sure your insurance needs first before buying insurance. buy insurance," concluded Mada.
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