Friday, October 15, 2010

Life Insurance

Life insurance is one insurance product known at the present time. Many people especially those residing in the city, taking life insurance. They decided to take life insurance to secure and save their families if at any time something happens.

In doing financial planning, a person faced with the necessity to make the protection of assets and we all agreed that a very valuable asset and can not be precious with money is a life or soul of a human.

Furthermore, can we count the money correctly with the right life insurance coverage? So if there is risk of death then we can leave a legacy of a decent sum assured to those who we leave behind.

Methods of calculating the sum insured is diverse, but in general we divide into 3 (three) groups of calculation methods, namely:

  • Human Life Value method
In this method the absolute sum is calculated based on monthly income multiplied by the time the funds available to sustain life, regardless of the interest or growth factor if the sum assured of funds saved in banking products.
  • Income Based Value Method
This method calculates the sum assured by calculating the amount of interest or return if the money received is stored in insured banking products.
  • Financial Needs Based Value Method
Big money has a range of coverage at least equal to the amount of money a particular need at this time (present value) multiplied by 150%. While the maximum sum insured is for money in the future (future value) multiplied by 80%.
This method is absolutely combined with the investments made (either monthly or yearly) to achieve financial needs in the future (future value) of financial needs. This method can also be used for those who already have a very large monthly income so that the two other methods mentioned above can not be used anymore because it will give the amount of insurance money that is too large (unlikely sum approved by the insurance company).

Today many life insurance companies that offer services using the Internet or by way of online life insurance seperti di

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