Thursday, September 10, 2009

ARE YOU.....INSURED ???

How costly to repair the car, our own and other collided cars, hospital bills, property damages and time consuming dealt with police, you named others related consequences of car accident. We may had the same perception....is costly compare with insurance premium rate. But why  so many people prefer gambling, deny to joint the insurance ?

Other the ponds, other the fishes, every single country had their own regulations or laws, depend on the stage of development of the country. In developed countries, avoiding the car insurance is against the law, means if car accident happens, the cost will be their burdens, personally. But in under developed countries, most of the cars owner thingking twice before apply to join the insurance. Everybody always stated that the premium rate relatively high. Is this true ?, lets elaborate  more details.

The same attitude also happened in health care insurance that a lot of people not covered with the same reasons as mentioned above. So what happened if someone get a serious sick and must be hospitalized ?. Before registered to the hospital, patients should pay in advance a lot of money as deposits that some can't afford. Who else to rely on except to closest family or to get loan from someone else, family members or friends. The scary thing is some forced to sell valuable things or even sell the house to financed their love ones.

In develpoment countries, the good Goverment set aside a significant Budget to covered health care programs. Every citizen had been preparing by their company or institution a plan for their personnels to pay insurance policy. If its become a law, no body dare to cheating because all know what the regulation is and if personnels find out a misconduct, otomatically they will sue the institutions.

Lets take a close look to calculation of premium. Actually the premium rates its relatively cheap compare to how big the claim is. We pay just small amount of premium lets say Rp. 3 millions, but they pay our claim over Rp. 10 millions. This not mean that the insurance company go down bankcrupt. No, not at all.because the insurance company always reinsurance our contract to the big insurance company. So then if they got a costly claim, they will distributes the costs to the reinsurance company.

From costumers point of view, the annual premium is not too high if divided to monthly installment. For example, premium of health care insurance  for senior ages (couples) is about Rp.3.000.000,- a year or if we pay in monthly installment will cost around Rp. 250.000,- a month. And once we hospitalized, the cost for 2 night stay might be over Rp. 10 millions.

I am not insurance broker or agent to encourage everybody to covered by insurance. No. But from my experiences, we are better off, if we have a policy in our hand. This is not related to our faith that God always be take care of us. God say we should be wiser in our life not challenge His power. We are not tempting God by jumping from high rise building and be sure God or angles willt catch up us before fall down to the earth.
So lets think throughly...and think twice..think wise !!!
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