Jan 26, 2009
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Health Insurance Is Important
The importance of health insurance cannot be stressed enough. There are probably very few families who do not have it in some form or other.
You might just have a hospital plan or a day to day plan, but most people will have provided for this unpredictable instance in their lives. Illness and accidents come without any warning and if there is no insurance in place the expenses could be astronomical.
A medical scheme that has day to day covering as well the hospitalization and expenses that are associated with it is the best one to have. Obviously the premiums will be much higher in a month, but should something unforeseen happen it will be worth the expense. This particular scheme has a certain amount allotted to each consumer per year for all the day to day expenses for visits to physicians and dentists. This amount of money is referred to as the savings account.
It can be spent on prescribed medicines or whatever the consumer requires. Once this allotted amount has been used it will not be replenished until the first day of the following year. Any further expenses there might be after the amount has been depleted will have to be paid for by the consumer. On the other hand if the consumer did not use the allotted amount in the specified period the balance will be carried over to the following year. So this is a advantage for consumers who do not often require medical cared.
The other side of the policy is the hospital plan which also has a certain limit. This however, is very much higher than the day to day side and it allows for the consumer to be hospitalized and all expensive medical procedures will be paid for. Operations, x-rays and tests as well as prescribed medicines will all be covered while the patient is hospitalized. This is an excellent plan as all aspects of medical care are covered. Obviously there are limits on the amounts that may be spent.
There are schemes for consumers who are frequently out of town. Normally a medical scheme only operates in the town or city where you live. Should a consumer be frequently out of town for various reasons he would be able to visit a doctor wherever he happened to be. The consumer pays the bill and then refers it to the insurance company for reimbursement.
You might just have a hospital plan or a day to day plan, but most people will have provided for this unpredictable instance in their lives. Illness and accidents come without any warning and if there is no insurance in place the expenses could be astronomical.
A medical scheme that has day to day covering as well the hospitalization and expenses that are associated with it is the best one to have. Obviously the premiums will be much higher in a month, but should something unforeseen happen it will be worth the expense. This particular scheme has a certain amount allotted to each consumer per year for all the day to day expenses for visits to physicians and dentists. This amount of money is referred to as the savings account.
It can be spent on prescribed medicines or whatever the consumer requires. Once this allotted amount has been used it will not be replenished until the first day of the following year. Any further expenses there might be after the amount has been depleted will have to be paid for by the consumer. On the other hand if the consumer did not use the allotted amount in the specified period the balance will be carried over to the following year. So this is a advantage for consumers who do not often require medical cared.
The other side of the policy is the hospital plan which also has a certain limit. This however, is very much higher than the day to day side and it allows for the consumer to be hospitalized and all expensive medical procedures will be paid for. Operations, x-rays and tests as well as prescribed medicines will all be covered while the patient is hospitalized. This is an excellent plan as all aspects of medical care are covered. Obviously there are limits on the amounts that may be spent.
There are schemes for consumers who are frequently out of town. Normally a medical scheme only operates in the town or city where you live. Should a consumer be frequently out of town for various reasons he would be able to visit a doctor wherever he happened to be. The consumer pays the bill and then refers it to the insurance company for reimbursement.
5 Reasons Why Life Insurance Is Important To You
Life Insurance. Doesn't it just conjure up some insurance salesman knocking on your door trying to sell you a policy that covers you for accidents only, for a small amount and costs you the earth? No? It doesn't too me either because those days are long gone!
I prefer to call it "Life Assurance" anyway, because it is assuring you that your life is convered in the event of death and that what your life is insured for, will be paid out to your estate or policy owner.
But how many of you actually have this cover in place? I know of lots of my friends, who are in their 20's who don't have the cover because 1) they don't know anything about (lack of education) and 2) they don't think they need it and see it as an extra cost. How little they know... like anything, the earlier you start, the cheaper it is...
Following are 10 important reasons why YOU should have life assurance and why those around you too should invest in this:
Reason 1
Hello? Do you have any bills, like maybe a mortgage?? This alone is a pertinent reason to have life assurance... it means that should you die, this major bill will be paid off and not left to your survivors to deal with!
Reason 2
Young, fit and healthy? No ailments? Then this is the best time to get life assurance! Your premium will be small and if you take out a policy that allows you to keep the same premium until the age of 65, you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the cover in place!
Reason 3
Are you married? Do you care about your spouse? Then is it not thoughtful to make sure that your spouse does not have to worry about money should you pass before they do and vice versa? I know a couple who cancelled their life insurance and then 6 months later he was diagnosed as having stomach cancer, and died 18 months later... leaving behind a wife and two children still at home and a mortgage... and no monetry relief for his family. Is this what you want to put your partner through?
Reason 4
Want to leave a legacy for your future grand children? What better way then ensuring your estate will actually have some legacy to pass on! You can elect in your will to have the proceeds of your life assurance paid directly to your estate and then as per your will, divy up the proceeds.
Reason 5
Peace of mind... yours that is. If you can't afford health insurance or any other insurance, you can afford life insurance... and should you develop a terminal disease... your life insurance will pay out a lump sum upon confirmation of this, allowing you to fulfil any dreams you have not achieved or to get your affairs in order.
There are many more reasons I could go into here, but you get the gist... just like you wouldn't risk not having your car insured or your house or contents... how can you not insure your number one asset... yourself?
There are plenty of fantastic financial advisers out there. If you don't have one, a great place to start is your bank, they have trained staff that can guide you... just make sure you read through any quotes you receive etc and make sure you understand just what you are being covered for.
I prefer to call it "Life Assurance" anyway, because it is assuring you that your life is convered in the event of death and that what your life is insured for, will be paid out to your estate or policy owner.
But how many of you actually have this cover in place? I know of lots of my friends, who are in their 20's who don't have the cover because 1) they don't know anything about (lack of education) and 2) they don't think they need it and see it as an extra cost. How little they know... like anything, the earlier you start, the cheaper it is...
Following are 10 important reasons why YOU should have life assurance and why those around you too should invest in this:
Reason 1
Hello? Do you have any bills, like maybe a mortgage?? This alone is a pertinent reason to have life assurance... it means that should you die, this major bill will be paid off and not left to your survivors to deal with!
Reason 2
Young, fit and healthy? No ailments? Then this is the best time to get life assurance! Your premium will be small and if you take out a policy that allows you to keep the same premium until the age of 65, you will have considerable savings... the earlier you start, the better. And then if you develop any health issues throughout your life, it doesn't matter, because you already have the cover in place!
Reason 3
Are you married? Do you care about your spouse? Then is it not thoughtful to make sure that your spouse does not have to worry about money should you pass before they do and vice versa? I know a couple who cancelled their life insurance and then 6 months later he was diagnosed as having stomach cancer, and died 18 months later... leaving behind a wife and two children still at home and a mortgage... and no monetry relief for his family. Is this what you want to put your partner through?
Reason 4
Want to leave a legacy for your future grand children? What better way then ensuring your estate will actually have some legacy to pass on! You can elect in your will to have the proceeds of your life assurance paid directly to your estate and then as per your will, divy up the proceeds.
Reason 5
Peace of mind... yours that is. If you can't afford health insurance or any other insurance, you can afford life insurance... and should you develop a terminal disease... your life insurance will pay out a lump sum upon confirmation of this, allowing you to fulfil any dreams you have not achieved or to get your affairs in order.
There are many more reasons I could go into here, but you get the gist... just like you wouldn't risk not having your car insured or your house or contents... how can you not insure your number one asset... yourself?
There are plenty of fantastic financial advisers out there. If you don't have one, a great place to start is your bank, they have trained staff that can guide you... just make sure you read through any quotes you receive etc and make sure you understand just what you are being covered for.
Why You Should Buy Life Insurance
In general, people buy insurance because they want to obtain peace of mind by having insurance cover for their risks on properties or assets. However, there is one risk which received the least attention from the general public but is inevitable to everyone at some time in their lives, which is DEATH!
The fact is regardless of your family circumstances or your age, life insurance is the cornerstone of sound financial planning for every family. Eveybody who will have someone mourning for them after his/her death, should consider life insurance. Loosing a loved one is devastating enough without the added worry of financial burden. Life insurance will help ease this heavy burden from your family and loved ones.
In a nutshell, life insurance is a unique tool which can be benefit everybody in the following ways:
1. Replacement of Income
2. Funding For A Child’s Education
3. Source of Cash In Case Of Emergency
4. Pay Final Expenses
5. Create A Savings
Having said that, the benefits of life insurance is not restricted to the above only. Depending on circumstances and needs of individuals, there are many different types of life insurance one can opt for. To know what best suits your needs and requirements, you can talk to a Personal Financial Planner like me ;)
To end this post, here’s a quote from Andy Warhol to share wth all….”Dying is the most embarrassing thing that can ever happen to you, because someone’s got to take care of all your details”.
The fact is regardless of your family circumstances or your age, life insurance is the cornerstone of sound financial planning for every family. Eveybody who will have someone mourning for them after his/her death, should consider life insurance. Loosing a loved one is devastating enough without the added worry of financial burden. Life insurance will help ease this heavy burden from your family and loved ones.
In a nutshell, life insurance is a unique tool which can be benefit everybody in the following ways:
1. Replacement of Income
2. Funding For A Child’s Education
3. Source of Cash In Case Of Emergency
4. Pay Final Expenses
5. Create A Savings
Having said that, the benefits of life insurance is not restricted to the above only. Depending on circumstances and needs of individuals, there are many different types of life insurance one can opt for. To know what best suits your needs and requirements, you can talk to a Personal Financial Planner like me ;)
To end this post, here’s a quote from Andy Warhol to share wth all….”Dying is the most embarrassing thing that can ever happen to you, because someone’s got to take care of all your details”.
How Much Life Insurance Do You Need?
In my many years of experience in the life insurance industry, most people tend to consider purchasing a life insurance during or after a major event in their life, such as marriage, birth of a baby, seeing a loved one in a life threatening illness or even after the death of a loved one.
Nevertheless, making that positive move to purchase a life insurance is an important one and I am sure many of you will wonder, “how much is enough?”. The truth is there is no single standard one size fits all formula. However, I’ve provided some guidelines here to assist you with making that crucial decision:
Are you the sole income earner in your family? - If you fall into this category of income earner, then the size of the life insurance policy has to adequately cover the income that would be lost in the event of your death, or in other words, ideally the income that you will earn until your retirement age.
The age of your children - If at the point of decision making here, your children are still very young and have yet to attend college, it is essential to have adequate life insurance coverage so that the surviving parent do not have to worry about college expenses.
Medical Needs and Costs - When it comes to major illnesses, medical costs is a “Fear Factor” to many average income earner. Lengthy illnesses can very quickly increase the medical costs and as such, a comprehensive medical plan should be considered.
Do you have a lot of debts and mortgages? - If you have these, consider adding them to the amount of insurance that you need.
Funeral expenses - If you have never seriously sat down to calculate such expenses, you will be surprised to learn that expenses involving a service, burial or cremation are not cheap, in the least.
Perhaps taking all things into consideration, life insurance may seem a little expensive to some. If that’s the case, it may be sensible to initially purchase only enough insurance to cover your debts and obligations. I must add here that although it is risky to be underinsured, it’s better than not having any life insurance. As your financial situation improves, you can usually review your needs and coverage, then purchase more insurance under similar terms.
Nevertheless, making that positive move to purchase a life insurance is an important one and I am sure many of you will wonder, “how much is enough?”. The truth is there is no single standard one size fits all formula. However, I’ve provided some guidelines here to assist you with making that crucial decision:
Are you the sole income earner in your family? - If you fall into this category of income earner, then the size of the life insurance policy has to adequately cover the income that would be lost in the event of your death, or in other words, ideally the income that you will earn until your retirement age.
The age of your children - If at the point of decision making here, your children are still very young and have yet to attend college, it is essential to have adequate life insurance coverage so that the surviving parent do not have to worry about college expenses.
Medical Needs and Costs - When it comes to major illnesses, medical costs is a “Fear Factor” to many average income earner. Lengthy illnesses can very quickly increase the medical costs and as such, a comprehensive medical plan should be considered.
Do you have a lot of debts and mortgages? - If you have these, consider adding them to the amount of insurance that you need.
Funeral expenses - If you have never seriously sat down to calculate such expenses, you will be surprised to learn that expenses involving a service, burial or cremation are not cheap, in the least.
Perhaps taking all things into consideration, life insurance may seem a little expensive to some. If that’s the case, it may be sensible to initially purchase only enough insurance to cover your debts and obligations. I must add here that although it is risky to be underinsured, it’s better than not having any life insurance. As your financial situation improves, you can usually review your needs and coverage, then purchase more insurance under similar terms.
About Prudential plc
Prudential plc is a leading international financial services group, providing retail financial services and fund management in its chosen markets: the United Kingdom, the United States, Asia and continental Europe.
Prudential has been writing life insurance in the United Kingdom for over 160 years and has had the largest long-term fund in the United Kingdom for over a century. Today, Prudential has over 21 million customers worldwide and over US$ 530 billion (as of 31 December 2007 - latest published figures) of funds under management.
In the United Kingdom Prudential is a leading life and pensions provider offerring a range of retail financial products. M&G is Prudential's UK and European Fund Manager, with around US$ 330 billion of funds under management. Jackson National Life, acquired by Prudential in 1986, is a leading provider of long-term savings and retirement products to retail and institutional customers throughout the United States.
Prudential is the leading European-based life insurer in Asia with operations in 12 countries. Across the region: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
# Important facts about Prudential plc (as per 31 December 2007): Prudential plc?s total sales based on Annualized Premium Equivalent (APE) is US$ 5.7 billion
# Serves over 21 million customers in around the world
# Employs over 26,000 employees
# Works with multi-channel distribution system
Prudential has been writing life insurance in the United Kingdom for over 160 years and has had the largest long-term fund in the United Kingdom for over a century. Today, Prudential has over 21 million customers worldwide and over US$ 530 billion (as of 31 December 2007 - latest published figures) of funds under management.
In the United Kingdom Prudential is a leading life and pensions provider offerring a range of retail financial products. M&G is Prudential's UK and European Fund Manager, with around US$ 330 billion of funds under management. Jackson National Life, acquired by Prudential in 1986, is a leading provider of long-term savings and retirement products to retail and institutional customers throughout the United States.
Prudential is the leading European-based life insurer in Asia with operations in 12 countries. Across the region: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
# Important facts about Prudential plc (as per 31 December 2007): Prudential plc?s total sales based on Annualized Premium Equivalent (APE) is US$ 5.7 billion
# Serves over 21 million customers in around the world
# Employs over 26,000 employees
# Works with multi-channel distribution system
Prudential In Asia
Prudential Corporation Asia (PCA), comprising both life insurance and fund management operations is part of Prudential plc. Prudential is the region’s foremost European-based life-insurer in terms of market coverage and number of top five market rankings. Its insurance operations span 12 markets – Mainland China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam.
In Asia, Prudential’s fund management business is one of Asia’s largest and most successful fund managers. With over US$ 86 billion in assets under management (as of 31 December 2007), it independently manages assets on behalf of a wide range of retail and institutional investors across the region. It is also a fund manager for life and pension products sold by Prudential plc and Prudential Corporation Asia.
It has an extensive geographic footprint with fund management operations in 10 markets - Mainland China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam, and the United Arab Emirates.
Important Facts about PCA (as per 31 December 2007):
* PCA’s total sales based on Annualized Premium Equivalent (APE) is US$ 2.6 billion
* Serves over 9.9 million customers in Asia.
* Employs over 430,000 agents and employees in Asia.
In Asia, Prudential’s fund management business is one of Asia’s largest and most successful fund managers. With over US$ 86 billion in assets under management (as of 31 December 2007), it independently manages assets on behalf of a wide range of retail and institutional investors across the region. It is also a fund manager for life and pension products sold by Prudential plc and Prudential Corporation Asia.
It has an extensive geographic footprint with fund management operations in 10 markets - Mainland China, Hong Kong, India, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam, and the United Arab Emirates.
Important Facts about PCA (as per 31 December 2007):
* PCA’s total sales based on Annualized Premium Equivalent (APE) is US$ 2.6 billion
* Serves over 9.9 million customers in Asia.
* Employs over 430,000 agents and employees in Asia.
Products
By understanding your unique needs, Prudential is always able to innovate and offer you relevant products. We offer a comprehensive range of life insurance and investment-linked products to meet the needs of our customers. And we will continue to enhance our existing offerings and explore new ones to suit your changing lifestyle and financial goals.
* PRUlink fixed pay
* PRUlife
* PRUlife for juveniles
* PRUmajor medical
* PRUaccident plus
* PRUprotector plan
* PRUlink assurance account plus
* PRUlink investor account
* PRUlink syariah assurance account
* PRUlink syariah investor account
* PRUhospital care
* PRUsave
* PRUsave for juveniles
* PRUlife protection plus
PRUlink funds:
* PRUlink Rupiah Managed Fund
* PRUlink Rupiah Managed Fund plus
* PRUlink USD Fixed Income Fund
* PRUlink Rupiah Equity Fund
* PRUlink Rupiah Fixed Income Fund
* PRUlink Rupiah Cash Fund
* PRUlink Syariah Rupiah Managed Fund
* PRUlink Syariah Rupiah Equity Fund
* PRUlink Syariah Rupiah Cash & Bond Fund
Riders:
* PRUterm
* PRUmortgage
* PRUwaiver
* PRUincome
* PRUpersonal accident death
* PRUpersonal accident death & disablement
* PRUdisability provider
* PRUspouse waiver
* PRUspouse payor
* PRUpayor
* PRUmed
* PRUparent payor
* PRUcrisis cover
* PRUcrisis cover plus
* PRUlink fixed pay
* PRUlife
* PRUlife for juveniles
* PRUmajor medical
* PRUaccident plus
* PRUprotector plan
* PRUlink assurance account plus
* PRUlink investor account
* PRUlink syariah assurance account
* PRUlink syariah investor account
* PRUhospital care
* PRUsave
* PRUsave for juveniles
* PRUlife protection plus
PRUlink funds:
* PRUlink Rupiah Managed Fund
* PRUlink Rupiah Managed Fund plus
* PRUlink USD Fixed Income Fund
* PRUlink Rupiah Equity Fund
* PRUlink Rupiah Fixed Income Fund
* PRUlink Rupiah Cash Fund
* PRUlink Syariah Rupiah Managed Fund
* PRUlink Syariah Rupiah Equity Fund
* PRUlink Syariah Rupiah Cash & Bond Fund
Riders:
* PRUterm
* PRUmortgage
* PRUwaiver
* PRUincome
* PRUpersonal accident death
* PRUpersonal accident death & disablement
* PRUdisability provider
* PRUspouse waiver
* PRUspouse payor
* PRUpayor
* PRUmed
* PRUparent payor
* PRUcrisis cover
* PRUcrisis cover plus
Prudential Indonesia
Established in 1995, PT Prudential Life Assurance (Prudential Indonesia) is a subsidiary of Prudential plc, a leading international financial services group from the United Kingdom that has more than US$ 510 billion of funds under management, catering to more than 21 million customers worldwide (as at 30 June 2008). Combining Prudential's global experience in life insurance for more than 160 years with knowledge of local customs and businesses, Prudential Indonesia is committed to develop its business in Indonesia.
Since launching our first unit-linked (life insurance combined with investments) product in 1999, Prudential Indonesia has been a market leader of this particular product in Indonesia. Prudential Indonesia also offers a variety of products and services that are designed to fit and accommodate the needs of its customers.
As at 30 June 2008, Prudential Indonesia has 6 sales offices (in Jakarta, Medan, Surabaya, Bandung, Denpasar and Semarang) and 146 agency offices (throughout many parts of Indonesia including, Jakarta, Surabaya, Medan, Bandung, Yogyakarta, Batam and Bali). Prudential Indonesia has a network of more than 54,000 agents, serving more than 596,000 customers.
Various awards were given to Prudential Indonesia over the years, including in 2007 :
* Lifetime Achievement Award for 5-time successive Best Life Insurance Company awards from Investor Magazine
* Best Life Insurance Company in the category of assets above Rp 5 trillion from Investor Magazine
* Best Life Insurance Company from Bisnis Indonesia daily
* An "Excellent" grade and highest-ranked in the life insurance companies with gross premiums of above Rp 1 trillion category from InfoBank Magazine
* Best Call Centre in the Life Insurance category from Marketing Magazine
* Best Achieving Total Customer Satisfaction from SWA Sembada Magazine
and in 2008, up to August:
* Biggest and Most Active Islamic Life Insurance from Karim Consulting* Best Service Quality in the Life Insurance Category from Marketing Magazine
* Indonesia?s Most Admired Company (IMAC) from BusinessWeek Magazine
* Best Life Insurance Company in the category of assets above Rp 7.5 trillion from Investor Magazine
* An "Excellent" grade and highest-ranked in the life insurance companies with gross premiums of above Rp 1 trillion category from InfoBank Magazine
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