What is Universal Life Insurance?

Universal life insurance was developed in the late 1970s to overcome some weakness related to the whole and term life insurance. As with other types of life insurance, you pay regular premiums to your insurance company, in exchange for the which the insurance company will from pay a specific benefit to your beneficiaries upon your death. Like other types of life insurance, you pay regular premiums to your insurance company, in return for which the insurance company will pay special benefits to your beneficiaries after your death.
 

As with whole life insurance, a portion of EACH payment goes to the insurance company to pay for the pure cost of insurance. As with life insurance, a portion of each payment goes to the insurance company to pay the cost of pure insurance. The remainder is invested in the company's general investment portfolio, with the potential to build cash value. The rest is invested in the company's general investment portfolio, with the potential to build cash value.

Most universal life policies pay a minimum guaranteed rate of return. Most universal life policies pay a minimum guaranteed rate of return. Any returns above the guaranteed minimum vary with the performance of the insurance company's portfolio. Any returns above the guaranteed minimum vary with the performance of insurance company portfolios. The sectoral policy has no control over how these funds are invested; funds are managed by the insurance company's professional portfolio managers. policyholders have no control over how the funds were invested, the funds managed by professional portfolio managers of insurance companies.

However, universal life policies are very flexible. However, universal life policies are very flexible. As the policy owner, you cans vary the frequency and amount of premium payments and Also Decrease or increase of the amount of the insurance to suit changes in your situation. As the owner of the policy, you can vary the frequency and amount of premium payments and also increase or decrease the amount of insurance against changes in accordance with your situation.

For example, if your financial situation improves significantly, you cans increase of your premiums and build up the cash value more rapidly. For example, if your financial situation improves significantly, you can increase your premiums and build cash value faster. On the other hand, if you find yourself under a financial strain, you cans reduce your premiums, or even you May be Able to deduct premium payments from the cash value of the policy. On the other hand, if you find yourself under financial pressure, you can reduce your premium, or you may even reduce premium payments from the cash value policy. Of course, changing the premium or withdrawing part of the cash value in your policy affect the rate at will from the which your cash value accumulates. Of course, changes in premiums or withdraw part of the cash value in your policy will affect the rate at which your cash value accumulates. It May Also reduce the size of the death benefit. It also can reduce the size of death benefit.

Any cash you withdraw from your universal life policy is Considered "base-first." You will not incur a tax liability Until your withdrawals exceed the premiums you've paid into the policy. Each time you withdraw cash from your universal life policy is considered "base-first." You will not be subject to tax liability until your withdrawals exceed the premiums you have paid into the policy. Any That amount exceeds the premiums will from be taxed as ordinary income  "The amount that exceeds the premiums will be taxed as ordinary income"

Researching Insurance Policy

Below are some tips you can use to understand the policy that you have.

1. Make sure your contents insurance policy in accordance with which you agree in life insurance demand letter. This information can be found on the front page or a summary of the insurance policy. In this section, you can read the insurance product you buy, a large sum assured, start date coverage, the length of insurance period, large premium payment, also the name of the insured and the name of the policyholder.
2. Is there a clause "free look period." In the insurance policy with this clause, you as the policyholder by the insurance company given the opportunity to read the contents of the policy carefully. If the policy is issued is not to your liking, the policy can be returned to the insurer and the premium you have paid will be refunded.
3. Read Back the general provisions of the insurance policy carefully. In this section, you can read your rights and obligations as the holder of an insurance policy. For example, your obligation to pay the premium and what sanctions should be your responsibility due to late or unpaid premiums. The right to obtain insurance benefits when the insured risks.
   

• Also the rights and obligations of the insurer as the insurer. For example, company's obligation to pay claims filed by policyholders or beneficiaries. The company's right to enforce the automatic premium loan due to delays.
• There are also facilities free period or grace period. Free period given by the company to anticipate delays in payment of premiums. Insurance policy premiums are not paid after the due date for payment until the time limits freely, will still be covered if there is risk in that period. Long period of this flexibility is usually between 30 to 60 days.
• See also chapter on general provisions of the policy exclusions of this insurance. In part this exclusion, you can read some things that are excluded which resulted in unpaid benefits.
• Are there special provisions for the products you buy. Some insurance products have specific specifications that need to be set forth in a special provision. Suppose you purchase additional accident insurance products, special provisions for these products will be attached separately.
• Is a copy of the request life insurance attached. In general, a copy of this letter is attached in an insurance policy, because this life insurance demand letter is the basis for the issuance of insurance policies.

How do insurance companies calculate insurance premiums?

First, insurance companies apply the law of large numbers. His philosophy, the smaller the risk and uncertainty when the number of insured increased. The greater the number of people who enter the life insurance program, the accuracy of estimates of insurance losses more easily done. In this condition, the insurer is able to anticipate an insurance claim in the future more accurately. The bigger the group the insured, the losses experienced by the group that will be easier to predict.


For example, an insurance company PT will face a big risk when it should close the insurance coverage for one person $ 100 million for one year. When the number of people insured reaches 500 people, the level of uncertainty will decrease even though the risk of death events remain. If the 500,000 insured in one group, the average death rate fluctuations will decrease. Thus, life insurance companies are able to anticipate more accurately the insurance claim.

Secondly, life insurance companies calculate premiums based on mortality statistics in the table. It speaks about the level of mortality or mortality at any age level. This statistics table is a record of mortality is observed in the previous time period. From the observation result, insurance companies make an average figure as a benchmark for making illustrations of probability levels of life expectancy at each age group.

PT insurance using mortality tables as the main element in calculating insurance premiums. In addition, the calculation is based on the amount of administrative costs, distribution costs and interest rate assumptions. The amount of non-mortality of these elements depend on each company's policy of insurance.


In general, the determination of premium rates every life insurance company based on four principles, namely

• insurance premiums will be calculated by considering the amount of an insured group. The principle of average and probability can only work if applied to large groups. The larger a group the insured, the premium calculation closer to the expected results
•  although it is unknown when and how each group member will die later on, past experience is good enough to use as a guide to estimate future
• life insurance companies pay claims life insurance policies issued from the collection of funds contributed by the policyholders
• each participant contributed to the accumulation of funds in accordance with its risk level. People aged more will pay a higher premium rate than those aged younger.

By knowing how to calculate the premium, we should realize that an active awareness for insurance since very early to determine the amount of premiums we pay. Financial risk management is a form of our responsibility to the family. How wise is the transfer of financial risk to insurance companies by purchasing life insurance products. This is to reduce the financial burden in the future due to the emergence of misfortune / calamity and uncertainty. Do not delay a decision for insurance because of the disaster can never be predicted. Immediately contact the insurer or insurance agent that you know.

Tips : How to Choose Life and Health Insurance

Life Insurance and Health Insurance is required mainly for self-employed and informal workers who do not have health insurance from a company or government agency.
An entrepreneur like me when to ill or disabled because of an accident will have a lot of financial losses / financially because they have to bear the cost of treatment and can not work for a living. Another case if a person works in a company or become civil servants, they usually get health insurance that will bear the cost if the sick and fixed monthly salary is paid. (But not all companies provide decent health insurance too)


Before you decide what insurance products, from insurance companies which I highly recommend to compare different products, types of products from various insurance companies. Do not rush to buy insurance products without understanding clearly the rights and obligations if we join an insurance product.

Some tips from me to choose an insurance product:

* Determine the benefits of any protection we need
* Find information on insurance products fit our needs by collecting brochures from different companies or searching for information on the website of insurance companies
* Consult the dealer in more detail about the products until the detailed calculation of the overall allocation of funds that we are willing to pay for anything
* Do not believe what insurance agents say, because they do not necessarily understand well the products they offer.
* Have made illustrations benefits insurance products, premiums to be paid and the allocation of the premium paid it to anywhere
* Learn the content of the illustrations in the house with a relaxed and thoroughly, do not rush to conclusions, ask a better idea if there is not yet clear
* Compare products from various insurance companies, which provide the greatest benefit with the least expensive premium, but the info or find out whether the company can believe it or not
* Do not just based on the best insurance award from a magazine, but you should really know how to calculate the insurance costs
* Determine the insurance products of your choice after all you really understand
* After determining and deciding to buy an insurance product we will accept an insurance policy that contains a binding contract between the customer and the insurance company, learn again the contents of the policy, the customer usually within 14 days given the opportunity to cancel the policy.

That was a few tips from me so you do not regret one day if you buy an insurance product without understanding fully the rights, obligations and comparisons with other products.

One more suggestion I was a customer who never fooled with any insurance product, "Do not buy Life and Health Unit Link associated with investment". Believe cut unit-linked products is very expensive, you better go pure life and health insurance and invest the money into mutual funds separately.

In the next article I will try to give detailed calculation of unit-linked insurance that actually drain money customers, which makes insurance agents are now a lot of very rich by selling unit-linked insurance.

Jasa Raharja

The history of Jasa Raharja is not separated from the events of the takeover or nationalization of Dutch-Owned Companies by the Government of Indonesia. In accordance with Government Regulation (PP) No. 3 of 1960, in conjunction with announcement of the Minister for Revenue, Finance and Oversight RI No.12631/BUM II dated February 9, 1960, there were 8 (eight), the insurance company designated as the State Insurance Company (PAKN ) and also held the grouping and the use of the name of the company as follows:

* Fa. Blom & Van der Aa, Fa. Bekouw & Mijnssen, Fa. Sluyters and co, after nationalized combined into one called PAKN Ika Bhakti.
* NV. Assurantie Djakarta Maatschappij, NV. Assurantie Kantoor-Schroder Langeveldt, after nationalized combined into one, with the name Ika PAKN Dharma.
* NV. Kantoor Assurantie OWJ Schlencker, NV. Kantoor Insurance "Big Times", after the nationalized combined into one, with the name Ika PAKN Mulya.
* PT. Carriage Insurance New Direction after nationalized PAKN named Ika Sakti.

The development of corporate organization does not end up there alone, because with the announcement of the Minister for Revenue, Finance and Supervision Decree no. 294293/BUM II dated December 31, 1960, the four companies mentioned above combined in one State Insurance Company (PAKN) "Ika Works." Next PAKN Ika Works changed its name to the State Insurance Company (PNAK) Eka Karya.

Based on the PP No.8 in 1965 by merging the entire property, employees and all accounts payable PNAK Eka Karya, starting January 1, 1965 established a new legal entity with the name 'State Insurance Company Jasa Raharja "with a special duty to manage the implementation of the Act (the Act) No.33 and the Act (the Act) No.34 of 1964. PNAK Jasa Raharja appointment as manager of both the Act is determined based on the Decree of the Minister for Revenue, Finance and Supervision Decree no. BAPN 1-3-3 March 30 1965.

In 1970, Jasa Raharja PNAK changed the status of a Public Corporation (Perum) Jasa Raharja. The change of status is set out in the Decree of the Minister of Finance of the Republic of Indonesia No. Kep.750/KMK/IV/II/1970 dated November 18, 1970, which is a follow-up to the issuance of Law. No.9 of 1969 on Forms of Business Entities of State.

In 1978 that is based on PP No.34 in 1978 and by Decree of the Minister of Finance of the Republic of Indonesia that have been extended in every year and last No. 523/KMK/013/1989, in addition to managing the implementation of the Act. No.33 and the Law. No. 34 year 1964, Jasa Raharja given the task of issuing new letters of guarantee in the form of Surety Bond. Then, as an effort to carrier sense of social responsibility to the community, especially for those who have not obtained protection within the scope of the Act No.33 and No.34 Law in 1964, it also developed various insurance businesses.

Then in the next, considering the business is handled by Perum Jasa Raharja grew wide, then in 1980 based on pp No.39 1980 November 6, 1980, Jasa Raharja status changed again into Limited Liability Company (Persero) with the name of PT (Persero) Insurance Jasa Raharja, later founding confirmed by the Notary Imas Fatimah, SH No.49 of 1981 dated February 28, 1981, which has several times amended by the Notary Imas Fatimah, SH No.59 dated March 19, 1998 following repairs Deed No.63 dated June 17, 1998 made before the same notary.

Zurich Insurance Indonesia

Zurich Financial Services Group is proud to announce that it established its presence in the Indonesian life insurance market on 1 November 2010 by completing the acquisition of an 80% stake in PT Mayapada Life. Zurich is committed to developing the market in Indonesia by building multiple distribution channels to meet the rapidly expanding protection and saving needs of Indonesians.

On 28 December 2010, the Ministry of Law and Human Rights has approved the change of name from PT Mayapada Life to PT Zurich Topas Life. This name change reflects the fact that the majority stakeholder of PT Mayapada Life is now Zurich Insurance Company, part of Zurich Financial Services Group. The company will be re-branded "Zurich" to be in line with other Zurich operations around the world.





Zurich Financial Services Group is the world's largest Swiss insurance-based financial services provider1 and a Fortune Global 100 company2. We have a global network of subsidiaries and offices in North America and Europe as well as in Asia-Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries. We achieved business operating profit of about USD5.6 billion in 20093. Our financial strength is built on a prudent and focused business strategy. We are rated "AA-" by Standard & Poor's4 Zurich Financial Services is listed on the SWX Stock Exchange in Switzerland.

1. Measured by a composite ranking for sales, profits, assets and market value; source: The Forbes Global 2000, April 2010
2. In terms of revenue; source: Fortune Global 500, July 2010
3. Zurich Annual Report 2009
4. As of 29 April 2010
5. Earn Money
   

Astra Buana Insurance

12 September 1956. One step forward ahead. On this date PT Asuransi Buana airline was established and started his business as insurance companies (general insurance).

1981. Hope is growing with the largest ownership in the company of PT Astra International (AI). It is expected that this increasingly giving spirit to provide the best in performers.

1985. PT Asuransi Buana airline opened a new branch in the city of Semarang.

1990. PT Asuransi Buana airline changed its name to PT Asuransi Astra Buana (AAB). Replacement name and logo are increasingly strengthened affiliation to the Astra Group, a company known to have financial position and good management.




1992. AAB opened a new branch in the city. Total branch at that time amounted to 4 branches.

1994. AAB re-open 2 new branches in the city of Medan and Makassar, bringing the total branches amounted to six branches.

1995. This year, 95% of its shares owned by PT Astra International. The company also launched car insurance products "Garda Oto" and open 2 new branches in Jakarta and Solo.

1996. AAB re-opened 3 new branches in the city of Bogor, Palembang and Denpasar.

1997. AAB achieve ISO 9001 certification in recognition of performance and commitment to the quality. At the same this year also opened six new branches in Jakarta, Tangerang, Bekasi, Cirebon and Lampung. So that AAB has a total branch were 17 branches.

1998. AAB started their company's internal organization into two major parts, namely Line Personal and Corporate Line. At the same time, Garda Oto be the pioneer in riot cover to its customers. Business conditions are getting better, it is anticipated by the AAB to open five new branches in the city of Pekanbaru, Batam, Purwakarta and Yogyakarta.

2000. In this year, AAB further sharpen its vision. Vision, mission and core values ??the company renewed and strengthened as the handle of the company in achieving its goals. Various benefits provided to customers Garda Oto, such as: 24 Hour Access Guard, Guard Standby, website Garda Oto Oto Visa and Garda Card. The condition and appearance of any uniformed branch.

Year 2001 to 2005. Various recognition received by the AAB as evidence of satisfactory performance and service to its customers. ICSA, IBBA, Best General Insurance, Green Company - Attestation of Assessment Certification, E-Company Award, Call Center Service Excellence Award and the MAKE Award is part of the awards received by the AAB during 2001 to 2005.

2006. Innovation to give the best to its customers is manifested in the launch Q'Repair Guard service. This service allows for customers who qualify for vehicle damage repaired within 1 working day. Related AAB golden anniversary, a variety of activities themed "Safety is Everybody's Concern" was organized as: Safety Creativity, Fun Safety Rally, Driving Safety Course and Safety & Fun Touring.

Source : http://www.asuransi.astra.co.id/

Jasa Indonesia Insurance

PT Asuransi Jasa Indonesia (Persero) (Jasindo) the age of 37 on June 2, 2010 shows the ripeness and maturity in running the insurance business. As a company oriented to fulfilling the needs and customer satisfaction and always showed evidence of high commitment, not apart from its own pioneering value for the existence and growth of Jasindo insurance performance to date, so successful in gaining public confidence both within and outside the country there.

PT Asuransi Jasa Indonesia (Persero) (Jasindo) or better known as Jasindo Insurance is a company engaged in General Insurance and is one state that has the performance and excellent business performance. Jasindo insurance is a merger between PT and PT Asuransi Bendasraya General International Underwriters (UIU) to PT Asuransi Jasa Indonesia (Persero), which confirmed the decision of the Minister of Finance Decree. 764/MK/IV/12/1972 dated December 9, 1972 and confirmed by Mohamad Ali Deed No. 1 dated June 2, 1973.




As one of the leading state in Indonesia, all shares are owned by the State Insurance Jasindo Republic of Indonesia and Insurance Jasindo to date with the strength of Indonesia's 89 Branch Offices & 1 Branch Office of Foreign Affairs, has a long and mature in the field of Public Insurance is committed to always provide excellent service to meet customer satisfaction.

The ability of insurance experience Jasindo (Jasindo) has been recognized also by the Agency for International rating agency Standard and Poor's for the category of "Claims Paying Ability" in 1997 with a rating of BBB. Furthermore, in the year 2008 to 2010 Insurance Jasindo again received recognition as one - the only company General Insurance national who obtained a rating by the rating agency International AM Best, based in Hong Kong and America, for the category "Financial Strength Ability" (Stable Outlook) with a rating of B + +.

By always maintaining the spirit of hard work and strong desire to provide the best service to our customers, business partners and other stakeholders, is expected to what has been proclaimed as a goal in each year Jasindo Insurance can always try to achieve them optimally.

Source : http://www.jasindo.co.id/

Adira Dinamika Insurance

Founded in 2002 and is managed by a group of professionals who have competence and long experience in the insurance industry and the automotive, PT Asuransi Adira Dinamika (Adira Insurance) which is engaged in general insurance focus his first year in the Automobile Insurance Industry, and currently also are developing products Non Motor Vehicle insurance.

Determined to "General Insurance Company Being the Most Admired in Indonesia", Adira Insurance launched its first superior product in September 2003, namely car insurance with Autocillin trademark, and motorcycle insurance with Motopro trademark in November 2007.

Supported Human Resources who are competent and committed, and the appropriate Information Technology, Adira Insurance is committed to providing products and features that are Simple, Unique & Reliable.




Adira Insurance is always working to achieve peace of mind for their customers through unprecedented ways, like never before. Besides peace of mind, Adira Insurance spawn acquisition values ??and results of operations that benefit all stakeholders to ensure sustainable stakeholder value in the long term.

Knowledge and understanding of a broad and deep insurance industry allows Adira Insurance to achieve rapid growth since its inception, without neglecting the aspects of management and control of risks associated with the growth itself.

Source : http://www.asuransi.adira.co.id/

Ace Insurance Indonesia

PT. ACE INA Insurance is a part of the ACE Group of Companies ®, a global leader in insurance and reinsurance. By getting evaluation of A + from Standard & Poor's and AM Best of the strength finanasial main operating companies, ACE Group is known through-owned underwriting expertise, superior claims handling as well as offices in various parts of the world. ACE is present in 53 countries and has commercial and individual customers in more than 170 countries.

Within the scope of traditional & special line, ACE utilizing strong analytical skills, breadth of resources and global reach it has to produce a variety of quality products and excellent service.

We invite you to explore our site and learn more in the ACE and the services and products that we offer.


ACE Financial Strength
ACE Limited (NYSE: ACE) is one of the leading insurance and reinsurance organizations, with gross premium income (NWP) in 2009 amounted to U.S. $ 19.2 billion and net premium income (NWP) of U.S. $ 13.3 billion (earn money). Book Value company also increased by 36 percent compared with last year, reaching U.S. $ 19.7 billion (earn money) at the end of 2009. Investment income in 2009 was U.S. $ 2.1milyar.

Principal capital strength, financial stability, diverse sources of revenue and the basis of our operations are multinational are strong indicators that we are at a very strategic position to continue to grow and progressively expand in the future. In addition, major insurance companies that operate ACE also has succeeded in maintaining the financial strength rating of A + from AM Best and Standard & Poor's.

From a business perspective, ACE is committed to continue supporting its clients and will do anything to help customers insurance products companies that may have been feeling the effects and impact of disruption in the global insurance market.

A snapshot of the ACE Group
Report S & P Affirm Back Against ACE Assessment
On December 31, year 2009, the agency's appraiser Standard & Poor's (S & P) reaffirmed its financial strength rating "A +" (Strong) for major insurance companies that operate ACE, and a positive outlook on the rating. That means that there is likely to increase in value next year. Currently, among 43 other commercial insurance in the United States who also get a rating, ACE is among the three main insurance rating get a positive outlook from S & P. Support the decision on the assessment, credit analysis the S & P cited a number of reports on the strength of the ACE, including the presence of the ACE global, diversified sectors and product lines, liquidity and yield excellent work, portfolio investments carefully, and the strength of capital ownership is more than adequate and management Good corporate risk. S & P also reaffirmed the rating "A-" (Strong) counterparty credit against ACE Limited, which also has a positive outlook.
Anniversary of The ACE-25

In this year, in 2010, marking the anniversary of the ACE-25 - a significant journey for our company. ACE was founded in 1985 by 34 founding corporate sponsor to provide excess liability protection as well as directors & officers are difficult to find. In the summer, ACE Bermuda opened for business and shortly thereafter, ACE wrote the first insurance policy.