4 Things to Look For When Choosing an Insurance Company for Old Age

Queenews.com- Always confused every time you get a product offer from various insurance companies. They all seem alike, huh?

Each insurance company has a range of products with their respective advantages to offer us. But so that we can choose benefits that suit our needs, it’s a good idea to study each product they have and find out about the related insurance company.

The problem is, when we rush to take an insurance product without understanding well the benefits they offer, we might even regret it later, because we already took a product whose benefits don’t match what we need.

If So, How Can You Avoid Choosing the Wrong Product and Insurance Company?
The main thing to do before studying certain insurance products and companies is to make sure in advance what kind of insurance benefits suit our needs. After that, we can take several steps, as shown below.

1.Reputation of Insurance Company

To get the right protection solution, of course we want to open insurance with a company whose reputation is guaranteed. For this reason, it is recommended to do research to find complete information about insurance companies and consult with an official consultant.

Take a look at their track record and performance in handling their clients in the last few years. That way, we can estimate how safe the funds we invest in the insurance product are, so that we can feel more at ease when paying the premium.

2.Calculate premium payments

Insurance premium is defined as an amount of payment determined as the cost of risk transfer from the Policyholder to the Insurance Provider. So we should also adjust to our abilities. Do not let our financial condition be disrupted because we have to pay certain insurance premiums.

Therefore, we must really understand the contents of the insurance policy that we are going to take so that there are no arrears or payments that exceed the due date in the middle of the road, so that the benefits of related insurance are not optimal or not in accordance with your goals/financial plans .

3.Administrative Process

Choosing an insurance company cannot be seen only from the superiority of the product, but you also have to find out how the administrative process is. As much as possible we choose insurance from companies whose administrative processes are easily accessible.

For example, insurers that offer cashless facilities are generally easier to use than those that use a reimbursement system. You just need to come to the hospital and show your membership card, you don’t need to pay off first and take care of the claim later.

With a fast administrative process, processes at health facilities can be faster. That is why the ease of administrative processes is also one of the most important factors to consider before we decide to choose an insurance company.

4.Understand the product and its benefits

Finally, understand in detail about the insurance product you want to take. There are various types of insurance products, such as life insurance, health insurance, education insurance, unit linked insurance or sharia insurance. However, if it is adjusted to basic human needs, then health and life insurance is a top priority to have, so that finances can remain safe when facing life risks such as illness and death.

So, speaking of health and life insurance, what products can meet our needs?

The benefits offered by each insurance company will certainly vary, even if they are in the same category. In this case, we can choose the MiACTION product (MiAssurance Protection Plan).

With this product, Annual Cash Payment Benefits will be given to Policyholders starting from the sixth Policy year up to the 20th Policy year (end of coverage period) as long as the Policy is active. If the Insured dies during the Insurance Period, 100% of the Basic Sum Assured will be paid to the Designated Person.

Meanwhile for health insurance, there is MiUltimate HealthCare which can provide health protection until we are 110 years old, or until our child’s dependents are 25 years old.

Through this product, we can be calmer and no longer need to worry about the cost of medical treatment if we have to be hospitalized. Because, besides the costs that will be borne according to the bill, there are room fees abroad and there is an additional annual limit for critical illnesses.

From the various explanations above, now we know better how to choose a good insurance company and what products are the most important to prioritize, No?

Come on, protect our souls and health from now on, so we can be calmer in our old days!

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