The Importance of Insurance and What to Consider?

Armfalcon.com, JAKARTA — Financial planner Rista Zwestika revealed the importance of having insurance. Not only to protect yourself, Rista said, insurance can also be chosen to protect property and objects from financial losses that usually occur due to various risks.

“Insurance can reduce financial risk, this is because it helps protect against financial risks that can occur due to unexpected events such as accidents, natural disasters, or serious illness,” said Rista to Republika, Thursday (11/5/2023).

By having insurance, Rista said one can reduce financial risk. In addition, it can also ensure not to lose property or finances.

Apart from reducing financial risk, Rista said, insurance can also provide financial security. By having insurance, Rista said, one can have guarantees in the event of a financial risk.

“We will receive financial support from insurance companies. This provides financial security for yourself and even your family,” said Rista.

Having insurance, Rista said, would also provide peace of mind. According to him, a person can have peace of mind because they have adequate financial protection in the event of a financial risk.

On the other hand, insurance can also fulfill some contracts such as mortgages or rental contracts that require the buyer to have certain insurance. “By having insurance, one can fulfill the terms of this contract and avoid legal problems or loss of ownership,” explained Rista.

In some cases, having insurance is also a social responsibility. Especially if one has financial responsibilities towards other people such as a spouse or children.

For this reason, Rista considers that having insurance is very important because it provides financial protection that can help reduce risk and provide peace of mind. “This allows a person to focus on the important things in life without worrying about the financial risks that can occur,” said Rista.

waiting period

It is very important for someone to understand insurance products and insurance company policies for each product used. Including the matter of the waiting period when you want to have an insurance policy. Quoted from the account Instagram, The Financial Services Authority (OJK), even though they have paid their premiums on time, it is not certain that claims can be paid immediately due to a waiting period.

OJK explained, the waiting period in insurance is the time that must be fulfilled before the policyholder submits a claim. The waiting period is stated in the insurance policy agreed upon by the insured and the insurer.

The waiting period depends on the type of insurance and the insurance company listed in the policy. The waiting period can reach 30 days to 12 months depending on the type and insurance company chosen.

That is the importance of knowing the right insurance company before choosing insurance. One can also compare insurance options, check the credibility of insurance companies, pay attention to insurance policies, calculate the cost of insurance premiums, and consult insurance agents. That way you can choose the right insurance to protect yourself and your family from financial risk.