Jakarta, Armfalcon.com – The Financial Services Authority (OJK) again announced that they are highlighting a number of non-performing insurers, one of which is PT Asuransi Jiwa Adisarana Wanaartha (Wanaartha Life/WAL).
In essence, currently there are 11 companies that are being monitored by the OJK because the insurance companies concerned do not meet the requirements for a company’s soundness level, be it in terms of capital or liquidity.
As is known, life insurance is a financial product that is intended to protect your finances in the long term. It is important to choose a product from a sound insurance company.
In order to avoid disappointment or loss in the future, choose an insurance product from a company that has these criteria.
It is undeniable that the image of a “big insurance company” is certainly one of the factors that makes us more confident to buy their insurance products. But don’t forget about your financial health.
The way to measure the financial health of an insurance company can be seen from the value of the achievement ratio (RBC), the investment adequacy ratio, and the amount of equity.
OJK has set the minimum RBC value for insurance companies at 120%, RKI at 100%, and a minimum equity of IDR 100 billion. If the amount is higher, of course, the better.
Of course, you can find these values easily in the company’s financial statements listed on the official website.
Get to know the company’s reputation
Find out information about the life insurance company in question, starting from the history of their achievements, as well as important reviews from those who have purchased their insurance products.
Get to know the company’s claims process, services, and more. You can do a search about the company in various mass media reports or consult with a financial planner who has good competence regarding insurance.
Do a product comparison with more than 3 insurance companies
When you feel that a life insurance offer by an agent or telemarketer has met your protection needs, don’t immediately agree.
Do a comparison between the same product from different insurance companies. Don’t hesitate to contact the insurance company or product marketing agency for further consultation.
As with buying a house, car or other assets, it is important to do a comparison before buying so you can be more calm.
Can’t be too expensive & too cheap
Insurance is a product of financial risk mitigation, it is necessary to measure the amount of insurance capacity with your income.
The greater the insurance benefits, the higher the premiums or fees paid, and this can certainly burden you in terms of personal financial management. But the cheaper the insurance premium, the more likely the protection you get will not be optimal.
Just allocate money at least 15% of monthly income to pay insurance premiums if calculated monthly.
You Only Live Once Bun… Better Have This Insurance