Best Life Insurance Legal And General

This time we will specifically discuss life insurance. Do you know what life insurance is? Life insurance is a contractual agreement between you as the policyholder or the insured and the insurance company as the insurer in which the insurance company will pay a sum of money if there is a risk of death to the insurance policyholder.

You as the insured must pay a premium that will later be useful to provide reimbursement for the risk of your death. In other words, life insurance is a type of insurance that aims to protect people from unexpected financial losses, caused by the death of the insured.

This life insurance can be purchased for personal use and on behalf of the insured only or purchased for the benefit of a third person. For example, a husband can buy life insurance with his wife as the insured, or a parent can also buy life insurance with his child as the insured.

Best Life Insurance Quote

There are several types of life insurance, but before discussing these types of life insurance, it’s good to know in advance some of the reasons that make life insurance so important for you.

6 Reasons to Buy Life Insurance

Why Need to Buy Life Insurance?

1. As a Protection Against Loss of Family Income

No one knows what will happen tomorrow, including you. To anticipate the possibility of you having an accident and leaving the family you support forever, you need to buy a life insurance policy so that your family can get money to live after you leave.

2. As a protection against the risk of death due to disease which is the main cause of death

Based on a survey conducted by the World Health Organization (WHO) in 2002, the 10 main causes of death in Indonesia are coronary heart disease, tuberculosis, blood vessel disorders, respiratory diseases, newborn disease, lung disease, traffic accidents, and diabetes and blood. high, and diarrhea. These diseases are quite common, so it is important that you have protection against the risk of contracting these diseases and dying.

3. One way to save or prepare for retirement

Saving in life insurance is the best alternative for your long-term needs because of its routine nature, mandatory premium payments, and not easy to take every time.

Types of Life Insurance

There are several types of life insurance products, each of which has different benefits. This type of life insurance aims to serve the various needs, abilities, and purchasing power of the people. Please see the following types of life insurance:

1. Term Life Insurance

Term life insurance has the function to provide protection to the insured within a certain period of time. This life insurance usually offers contracts for 5, 10, or 20 years, with fixed premiums and relatively cheap.

You should choose this type of life insurance if you prioritize the future of your family, especially the education of your children. Suitable for those of you who need large insurance costs but have limited financial capabilities.

If you choose this life insurance, some of the advantages are:

You as a policyholder get the freedom to determine the amount of premium according to your ability.

The sum assured that you can get as a policyholder can reach billions of rupiah. This means that if the insured dies while the contract period is still active, the insured’s family will receive a large sum insured.

While the disadvantages of this type of life insurance are:

The insured may lose the premium that has been paid or the premium will be forfeited after the contract is completed if there is no health problem or death until the end of the contract period.

2. Life Insurance for Life

This type of life insurance provides protection for life, although insurance companies usually limit the coverage benefit to only 100 years.

This life insurance is recommended for those of you who have no dependents and want benefits that are more than just death benefits, or those who are interested in the idea of ​​long-term savings.

So, if you want life protection as well as savings for emergency needs such as paying hospital bills, you can consider buying this type of life insurance policy.

The advantages of this type of life insurance are:

As explained above, you can claim this life insurance policy before the contract period ends, for example, to finance your child’s education.

However, the withdrawal of these funds can only be done once in a period of several years in accordance with the agreement that has been made. If, for example, you as the insured are still alive at the end of the validity period, you will get the entire sum insured.

While the disadvantages are:

Because this type of life insurance has two benefits, such as combining the benefits of term life insurance with whole life insurance, the premiums are quite large, reaching millions of rupiah per month.

4. Unit Link Life Insurance

This type of unit-linked life insurance combines the benefits of insurance with investment and is most often offered by insurance agents. If you are interested in investing but don’t understand investing and want to make sure your life still gets the benefits of protection from death, you can choose this type of life insurance.

The advantages of this type of life insurance are:

You as a policyholder not only get guaranteed protection but also a return on investment with a fairly high interest every year.

While the disadvantages are:

Return on investment is less significant when compared to pure investments such as stocks, money markets, or mutual funds.

If you are looking for a great return on investment, you should not rely on unit-link life insurance. The sum insured that will be obtained is relatively low, especially if the investment fails or only produces a small profit.

Research Before Buying

You need to remember that before buying a life insurance policy, you are advised to seek as much information as possible and compare offers from several insurance companies, for example regarding the protection offered and the amount of premium you have to pay and adjust it according to your ability.

Also, consider the number of your dependents and what funding needs will arise in the future in choosing this type of life insurance.

The point is you need to do careful planning according to your needs before choosing the life insurance product that you will buy so that the protection benefits you get from the insurance product are optimal.

Remember, the principle of being careful before buying also applies to life insurance products so that you don’t feel disadvantaged.

Best Life Insurance in The World

It is undeniable, currently, insurance companies are one of the promising business fields. This is because public awareness of their diverse needs is a major factor in making this financial product more attractive.

However, not all insurance products are owned by the public. However, there are some, such as health insurance, travel insurance, to vehicle insurance, which are still excellent.

These three insurance products are more often offered at once by an insurance company. Premiums also vary, of course, and will adjust to the customer’s financial condition.

Keep in mind, there are a number of the largest insurance companies in the world. Almost all of them have branch offices in Indonesia.

Because this insurance program is intended for long-term financing, it would be better if you choose insurance services from an insurance company that has the clear quality and meets the criteria as the best insurance in the world.

Berkshire Hathaway

• Country of origin: United States
• Year of establishment: 1839
• Headquarters: Omaha, Nebraska, United States
• Key Characters: Warren Buffet, Charlie Munger
• Revenue: US$223.60 billion (2016)
• Total assets: US$620.85 billion (2016)

First, there is the largest insurance company in the world which is already quite well known, namely Berkshire Hathaway. Headquartered in Omaha, United States of America, this insurance company founded by Oliver Chace has a net profit of up to $4,87,314,163.00.

Profit itself is obtained not only from insurance sales but also investments made in various business products such as transportation, property, to manufacturing.

Insurance Ping

• Country of origin: China
• Year of establishment: 1988
• Headquarters: Shenzhen, China
• Main character: Jessica Tan
• Revenue: US$13.9 billion (2019)
• Total assets: US$1.1 trillion (2019)

This insurance was founded in 1988, Ping An Insurance has been trusted to manage insurance funds for Chinese citizens with a market capitalization of US $ 130.9 billion. Headquartered in Shenzhen, Guangdong, one of its leaders is Ma Mingzhe.

UnitedHealth Group

• Country of origin: United States
• Year founded: 1977
• Headquarters: Minnetonka, Minnesota
• Key characters: Richard T. Burke, Stephen J. Hemsley
• Revenue: US$184.8 billion (2016)
• Total assets: US$122.8 billion (2016)

In addition to Ping An Insurance, this United States-based insurance company is also the best insurance company in the world in 2021. Its estimated net profit reaches Rp. 3.156 trillion. In addition, UnitedHealth Group Inc. also offers a wide range of health insurance products, for individuals, retirees, the elderly, families, office workers, and soldiers.

China Life Insurance

• Country of origin: China
• Year founded: 1949
• Headquarters: Beijing
• Key characters: Dairen Lin, Yang Minsheng
• Income:-
• Total assets: US$362.1 billion (2015)

The next best insurance company in the world in 2021 is China Life Insurance. The largest life insurance company in China currently controls 45 percent of the country’s market with total assets of around USD 580.33 billion. Its success in listing large assets has also made China Life included in the Fortune Global 500 version, at number 51.

Allianz

• Country of origin: Germany
• Year of establishment: 1890
• Headquarters: Munich
• Key characters: Oliver Bate, Helmut Perlet, Maximilian Zimmerer
• Revenue: €95.76 billion
• Total assets: €848.9 billion

Then, another best insurance company in the world in 2021 is Allianz Insurance. The company, which is headquartered in Munich, Germany, is already well-known in various countries, including Indonesia.

It should be noted that in Indonesia itself, the total net profit obtained by PT Asuransi Allianz Life is Rp. 1.17 trillion. The profit value continued to increase by 48.66% year on year, which was also supported by an investment income of Rp. 2.48 trillion.

AIA Finance

• Country of origin: Hong Kong
• Year founded: 1919
• Headquarters: Shanghai, China
• Key Character: Cornelius Vander Starr
• Income:-
• Total assets: US$284 billion

Apart from Allianz, the next on the list of the best insurance companies in the world is AIA Financial. Founded in 1919, this insurance company which also operates in Indonesia was first established in Singapore and is headquartered in Hong Kong until now.

Its total net profit reached Rp 1,025 trillion in the second quarter of 2020. For information, the net profit obtained by AIA Financial itself increased by Rp. 763 billion compared to the same period last year which was only Rp. 262 billion.

AXA

• Country of origin: France
• Year founded: 1817
• Headquarters: Paris
• Key Character: Thomas Buberl
• Revenue: €98.53 billion (2015)
• Total assets: €887.07 billion (2015)

AXA S.A. has also been recognized as one of the largest insurance companies in the world. This insurance was founded in 1816 ago. The global insurance company based in France has a net profit of around 1.4 billion euros.

However, the profit earned actually experienced a drastic decline of up to 39 percent due to a decrease in assets and claims related to the coronavirus. Therefore, his party again revised the company’s growth target while canceling the distribution of dividends to each shareholder.

Prudential Plc

• Country of origin: England
• Year of establishment: 1848
• Headquarters: London
• Key Character: Paul Manduca
• Revenue: £71.842 billion (2016)

Total assets:-

Next up is Prudential Plc. The company is a financial services company based in London. In 2020, the company was able to record a net profit of around USD 2.18 billion.

It should be noted that in Indonesia, Prudential under the company name PT Prudential Life Assurance has managed to record assets of IDR 65.3 trillion until the first quarter of 2020.

National Anthem, Inc

• Country of origin: United States
• Year of establishment: 2004
• Headquarters: Indianapolis, Indiana, America
• Key Character: Gail Koziara Boudreaux
• Revenue: US$121.9 billion (2020)
• Total assets:-

One of the best insurance companies in the world in 2021 is Anthem Incorporated. This insurance company continues to show improvement in terms of net profit.

In 2020, this insurance company from the United States experienced an increase in revenue by 13.1 percent, which was valued at USD 104.21 billion with an estimated net profit of around USD 4.80 billion.

Thus the explanation of the best life insurance in the world along with the reasons for buying this type of insurance that works in various parts of the continent such as the USA, UK, Netherlands, China, Canada, Germany, and other developed countries.