Link Unit, one of the most desirable insurance services

Insurance actually is a way to anticipate the problems associated with life in the future. Many are not too concerned, but in fact everyone needs a financial product is because we will never know what will happen tomorrow.

As the needs of people who not only need protection, life insurance offers an insurance product with investment benefits, the unit-linked insurance. You could say this product is now becoming popular because customers can get rewarded fairly lucrative results.

Unit-linked life insurance is an insurance product that combines the benefits of protection and the benefits of such investment funds. Any premium paid will be allocated in part to the cost of insurance, and the rest invested to fund desired investments.

Although it just began to use the unit-linked products, not many people know that this product also has risks. Many thought that this product risk-free. Whereas in the investment, all products there is no risk-free.
When viewed by the placement of investment funds, unit link is divided into four kinds, namely unit-linked money market, fixed income, mixed income, stocks and sharia. It is divided as adapted to the nature or pattern of customer investments. Not much different from mutual funds.

Link units can also be seen by an investment destination, where the destination is not a separate product, but the company's insurance program in order to match the needs of the customer. Call it the goal for children's education, retirement or other things.

While, when seen by the premium payments, and fund placement investment objectives, link units can also be distinguished by type of deposit premium, ie single and periodic. On unit-linked single premium, the customer must pay a single premium in advance, then the customer will be free premiums. Single scheme is more suitable for people who are financially stable because most of the value of any premiums among other types of insurance.

While the periodic system, the customer is obliged to pay premiums gradually, can each month, quarter, or year until a certain time. Link unit is suitable for customers who want to protect and investment as well.

General Information about Marine Insurance

Marine Insurance definied a contract of marine insurance is a contract where by the insurer undertakes to indemnity the assured, in manner and to the extent there by agreed, against marine loss, that is to say, the losses incident to marine adventure.

Marine adventure and marine perils defined. Subject to the provision of this act, every lawful marine adventure may be the subject of a contract of marine insurance. In particular there is marine adventure where:

Any ship goods or other moveables are exposed to maritime perils. Such property is in this act, referred to as insurable property.

The earning or accuisition of any freight, passage money, commission, profit, or other pecuniary benefit, or the security for any advances, loan, or disbursement, is endangered by the exposure of insurable property to maritime perils.

Any liability to a third party may be insured by the owner of, or other person interested in or responsible for, insurable property, by reaseon of maritime perils.

Maritime Perils, means the perils consequent on, or incidental to the navigation of the sea, that is to say, perils of the seas, fire war perils, pirates, revers, thieves, captures seizured, restraints, and detainment, pf princes and people, jettisons, baratry, and any other perils, either of the like kind of which may be designated by the policy.

Perbedaan averij grosse dan averij khusus pada asuransi kelautan

Averij-grosse (general average) adalah kerugian laut yang bermanfaat bagi kapal, muatan dan biaya pengangkutan bersama dan oleh karena itu dipikul bersama oleh yang bersangkutan pada barang-barang, sedangkan averij-khusus (particular average) hanya meliputi kapal saja atau barang-barang muatan.

Berikut secara rinci mengenai Averij-grosse dan averij-khusus

Averij-grosse

• Apa yang harus dibuang ke laut atau harus dihabiskan untuk menyelamatkan kepentingan umum di kapal.
• Kabel-kabel tiang kapal, layar-layar dan lain-lain perlengkapan kapal, yang harus dirusak untuk kepentingan umum.
• Jangkar, tali-tali dan lain-lain barang yang terpaksa harus ditinggalkan untuk kepentingan umum.
• Kerugian yang diderita oleh pemilik barang-barang, sebagai akibat pembuangan barang ke laut (jettison of cargo).
• Biaya pemeliharaan, penyembuhan dan ganti-rugi untuk orang-orang selaku akibat menyelamatkan kapal, hal mana orang tersebut luka atau cacad.
• Gaji nakhoda dan awak kapal selama berlabuh, di luar rencana semula.
• Sewa gudang untuk menyimpan barang muatan kapal.

Averij khusus

• Segala kerugian pada kapal atau muatan sebagai akibat dari angin topan, penyitaan, kapal karam atau terdampar.
• Upah dan biaya menyimpan barang-barang.
• Biaya usaha menerima kembali kapal dari penyitaan.
• Perbaikan-perbaikan khusus pada barang-barang yang rusak, yang tidak masuk averij grosse.
• Kehilangan perlengkapan kapal yang disebabkan angin topan atau bencana laut (kabel-kabel, jangkar, tali, layar, dan sebagainya).
• Biaya angkutan barang selanjutnya bila persetujuan angkutan yang bersangkutan telah gugur.
• Pada umumnya segala kerugian-kerugian dan biaya-biaya yang tidak termasuk dalam kepentingan umum (averij grosse), tetapi khusus untuk kapal, atau barang, dan biaya angkutan saja.

 

Basic Concept of Insurance

Insurance is a willingness to set small losses (a bit) that it is definitely a replacement (substitution) large losses that have not been definitive.

 
From the above formulation can be concluded that, people are willing to pay a bit of a loss for the present, in order to face large losses that may occur in the future. Such as:

• Fire. In fire insurance, insuring one's house to the insurance company. In this case the person pays a premium to an insurance company. Whenever there is a fire, the company will reimburse losses caused by fire.
• Maritime Transport. In Marine Insurance is to underwrite the ship, cargo or cargo and others.
• So, in this case it turns out that, any losses that may occur in the future are dating, we move it to the insurance company. If we look at the branches of an existing insurance company, the insurance forms generally can be classified as follows.
• Insurance (General Insurance), which is on property, fire, and others.
• Variant Insurance (marine insurance, accident insurance, car insurance and theft).
• Life Insurance. Ie insurance related death, illness, disability and others.

Which are the best insurance that important to your life

In the run of life, every human being is required to survive to face all sorts of problems in your life. Something comes from within and some from outside the man himself. These factors make each person should be able to train themselves to survive and achieve their life goals. By simply relying on the spirit in achieving this goal is certainly not a reliable solution personally, but also needs careful thought and supported in working hard. However, it can not all be resolved if not supported by a good preparation for dealing with long-term problems.

Death, health, finance, and education are the eternal problems for everyone in the running life. Each person would be in conflict with those things. However, the problem for all of us as a human being is, what-what step to anticipate all of that?. Every step we take is always risky, no steps are not at risk. So, exactly when did I say you should never avoid risk but to manage this risk even further. Thus, every step will bring you closer to the goal of life.

Indeed, the problem can be solved in many ways. And one of them is the method of the present insurance is the best solution in anticipation of it. However, what is actually the type of insurance required to be taken in order to achieve the purpose of our lives? Here are some types of insurance that I think we should do that a bright future can be achieved.

Life Insurance. Death can happen anytime and anywhere, we can not be easy to predict the death of the problem. The problem is when when someone dies, then what will happen to those left behind. If that person is living alone is certainly not a major problem in dealing with it. However, for those of you who are married and have dependents, life you left behind would be affected significantly when abandoned. Not only financially, but also of the factors affecting the spirit of life, the spirit of work, which means greatly affect the psychology of the left.

Accident Insurance and Health Insurance. As with life insurance, accident insurance generally associated with life and health insurance. But the difference is that life insurance is more common so it is more referring to the issue of one's soul. As for the crash, not necessarily people who have an accident is always dead. Therefore, it is necessary to consider accident insurance that the policy was made because of the effect that fear is the effect of permanent disability. Because when a person suffered permanent disability due to an accident then the person is not able to meet their daily needs in an optimal and this may impact to all aspects of life. As with human health greatly affect his life.

Financial Insurance. Money is not everything, but it is good to buy the goods and services it needs money. Moreover, coupled with the existence of a social problems such as poverty and bankruptcy. Thus, it should be called a financial insurance. Not only poverty and bankruptcy, financial insurance also helps you in managing your finances both directly and indirectly. This is because you are required to be effective and efficient use of your money.


Insurance Education. For this one you are obliged to think about it because education is the ace for you to get your life goals. Thus, it is necessary for you to make a move in your life to get a decent education. However, in this day and age where education is also a thing that can drain your finances then I put education insurance for this type of insurance is important for you to take.

The conclusion is, any existing insurance offers all things related to your life. I want to emphasize is that the importance of preparation in anticipation of a good place to get your life goals such as physical and spiritual prosperity. Therefore, the priority of insurance you want to take as your first step to determine the next step. For that, it would be better if you hold your temporary excitement  to get the pleasure which are durable.

Understanding and explanation of moral hazard within the scope of insurance

There's an interesting thing when I read a book called the fundamentals of insurance works of Drs. A. Salim Abbas. He wrote these words on his book ie morale and hazard. At first glance I thought what is the meaning of the word. Hazard is usually identical to the objects of toxic and dangerous. While morale is identical with the meaning of one's mental. However, after I read was very much different than what I thought. These include an explanation of the hazard as well as opening our initial conversation about the morale hazard within the scope of insurance.

Before entering what is the meaning and intent of the word morale hazard, let us first discuss in detail what the hazard. The technical term insurance, Peril, which means everything that could result in losses. While the hazard is a situation that adds to the possibility of peril, or hazard itself is a situation where it would boost the probability of losses stemming from peril. Hazard itself divided over:

• Physical Hazard. That is a physical hazard and an element of objectivity. For example: physical damage due to fire, collision, and a wide range of events that can cause physical damage.
• Morale Hazard. Hazard that is related to a person and contains a subjective element. For example, someone intentionally slammed car into a tree in order to receive compensation from the insurer.

Image from http://google.com/imghp

In this article we will talk more about the morale hazard. If viewed as a physical hazard of understanding can we ingest because that name will provide warranty insurance to the insured when exposed to loss by accident, especially in terms of physical damage. So morale hazard would be more interesting because it brought about a lack of caution that will cause harm to it. For example, when we are on the way suddenly turned the other way and when it is driven by the vehicle will go faster and will result in an accident. Such action may result in losses for the insured. Due to the risk factor in the loss of morale hazard, the hazard insurance experts divide into two types of categories.

A. Personal Risk and Risk Families. 

Risks that exist on the scope of cloning and the family is a risk of loss of income and property. Loss of revenue due to the events that lead to loss of revenue that can cause life to be difficult because of the financial factor. While the objects usually belong to the property. These include:

 
Loss of income. A person or family could lose revenue due to:

• Mortality. Loss of revenue caused the death of a person or family in particular.
• Permanent disability. When a person experiences events that caused permanent disability then he will not be able again to find the optimal income due to disability or even expelled.
• Temporary disability. For the time being unable to earn a living because of illness.
• Unemployment. A person who is unemployed resulted in loss of income.

Property losses. Property loss is a loss that resulted in all the objects that become the property of a person or family becomes unusable. Milli constitutional rights can be caused by:
Natural disasters, fraud, forgery handwriting, Robbery and Theft, Impact melee.

B. Company risk.  

Of a risk accepted by the company with a different result. All these factors are capable of inflicting damage against the company as well known as morale hazard. Risks faced by the company consists of:

1. Perils of transportation of goods on land-sea. Losses that occur during transport of goods on land or at sea. Generally covered by Marine Cargo Insurance. As for the ocean freight insurance identical to Marine Insurance.
2. Hail (Hot Wind), Frost (low air) and other cases of damage to crops. Examples are found only in developed countries who have incomes in the plantation sector and agriculture. In the developing countries have not been very visible presence of the insurance field, it is no insurance agricultural insurance such as sugar cane.
3. Dishonesty of employees. These losses are caused by company employees who may be deliberately doing things that are criminal to the company. such cases of corruption, ran the company money, and embezzlement.
4. Failure to fulfill the contract. Contractor must meet a contract. If work is not finished on time then the company's request for compensation on insurance companies. Integration with insurance will pay a certain percentage.
5. The strike, causing losses to the company. Losses incurred due to loss of income and property can be insured. For a person or family who run the risk of loss of income, can be reduced by insurance. Example:Mortality risk due to individual and family, people are trying to cover this risk by purchasing insurance.
6. Incapable Permanently. It concludes with sickness or accident insurance. Similarly, the temporary disability may be covered by sickness insurance. Unemployment. In the event of unemployment insurance coverage is usually guaranteed by the State. This is a risk of government, in countries that have been developed. The property insured with insurance or public insurance.

So, morale hazard is a term that has a very long if we have described again by insurance factors. Morale hazard to the reference material in the insurance holders did transaction to satisfy the insurance is purchased.

Reference: Dasar-dasar Asuransi karya Drs. A. Abbas Salim

Insurance losses and risks, understanding and classification

Insurance of losses is insurance provided by insurance companies to policyholders (both groups / companies and individuals) which aims to guarantee the losses caused by loss factors. The loss factor can be derived from a natural disaster, fire, theft, insurance sparks, etc..

In the division of insurance in the previous article "Social security, free from the government?", we consider the more general insurance toward voluntary insurance. This does not mean that social security should not we understand, but instead of social security is closely related to the so-called insurance. In line with this that, the development of economic structures in various parts of the world these days leaves a deep pain to the workers or employees who are not all of them receive social security or insurance.

 

At the beginning of this article has discussed that, given the loss of insurance in the event of a loss caused by certain factors. Of course, such losses may arise in the future then be the responsibility of the insurance company. So the risk or loss that may arise is no longer a burden on the policyholder's insurance company but a burden. Now where lies the risk and the possible risks and losses we suffered in the days to come within the scope of insurance.

Risk. Risk is a danger, a result or consequence that may occur due to an ongoing process or event to come. In insurance, risk can be defined as a situation of uncertainty, in which case an undesirable situation can cause a loss (Wikipedia.org).

In line with the opinion of Mr. Abbas Salim, he wrote in his book about understanding risk. Risk is uncertainty or uncertainty that may give rise to a loss (loss). Then he adds the elements of uncertainty in the form:   

Economic uncertainty. Ie events that arise as a result of changing consumer attitudes, for example changes in consumer tastes or interests, or a change in price, technology, or gets a new discovery, etc..

Uncertainties caused by nature. Such as fires, hurricanes, typhoons, floods and others.  

Uncertainty caused by human behavior. Such as wars, theft, robbery, and murder.

The third type of uncertainty at the top, which can be insured is the natural and human uncertainty. While the former can not be insured because it is speculative because of the economic elements that are fluctuating and difficult to measure its severity. He also added regarding the classification of risk in order to differentiate the levels of insurance in terms of risks.

Speculative risks, ie risks that could bring in speculative losses or profits. Example: The merchant will sell a profit and loss.

Pure risks, ie risks that are always causing harm. Example: An insurance company operating in the field of pure risks such as death, fire and accident).

Many methods have been sought by many people to make a decent life. As we know that, any way we choose to have each of the risks we face. The only solution to solve the problem early is "Facing the problem itself". Therefore, do not you think that how to avoid the risk? But think how do I manage all the risks involved?

Social Security, Free from the government? or the money saved by the People?

Government and people is a unity that can not be separated. The Government requires all people in organizing their activities, as well as people who are a collection of people who have a relationship with the government. Both in terms of employment, public order, education, health and safety. So, not surprisingly is the existence of a system like this, there is interaction (reciprocal relationship) between the government and its people.

Today, many governments around the world have launched a variety of projects on their interactions. Government accountable to the people who voted for him, and the people carrying out the obligation of all policies (of course that makes sense and in accordance with common interests) of those who have been chosen. Many forms of interaction among others in the socio-cultural, educational, health, safety, economics and law, and so forth. And one of the most frequently encountered in all countries in this hemisphere is the existence of a social security for all the people who live in a country.

Wikipedia says on its Web site, Social Security is a form of social protection organized by the state to guarantee its citizens to meet the basic needs of decent living, as in the UN Declaration on Human Rights in 1948 and ILO Convention No. 102 in 1952. Primarily a field of social welfare which concerned social protection, or protection against known social conditions, including poverty, old age, disability, unemployment, family and children, and others.

However, a little bit different with the comments of Drs. Salim Abbas on social security. He says in his book "Principles of Insurance" that social security does not actually guarantee a risk in life insurance coverage. The reason is that it can be argued, because it does not warrant the risk of death, because in general the money paid to the parties concerned, the money saved each salary earned per month.

In such cases, it appears that social security is actually not entirely money given by government to its people, but the savings are deducted by the government of the wages of employees, or deducted from the wages of private employees of a company that hired him (in this case is called collateral social workers). However, the difference in saving and social security, voluntary savings, while social security is taken from salary cuts are not voluntary.

Thus, according to the words of Drs. Abbas Salim in the same book as well; Thus, social insurance is compulsory insurance that aims to provide social security to the public. Compulsary insurance carried by force (Force saving), because every citizen is required to participate by way of cutting the salaries of each month (pension contributions).Next, Drs. Abbas Salim gave an explanation of some of the characteristics and traits of social security are:

• Risks related to guaranteed public and are the responsibility of the community.
• This warranty is considered fully benefit the people.
• Social security cover most of the population.
• People who are directly concerned and do not carry the whole financing is often only a small fraction of them carry.
• Allowances are normally only available to meet the primary needs of the minimum (subsistence level).
• Participating in the collateral and the fee is typically required.
• Collateral held on the basis of not for profit.
• Objectives to be achieved is not the social welfare and justice for individuals.
• So, basically it was made for social security and social welfare interests of the people / communities living. 

The problem in this article is how to manage government finances in insurance? Get the government guarantee that money is not misused because it is money taken from people each earned a salary? Or in other words, among private sector employees with the company that hired him.

Understanding insurance and general insurance classification

Insurance is an action taken by the people to anticipate the losses are non-material and material in carrying out a life. Insurance is also a mutually beneficial business between a person with the person providing the insurance. Insurance is also provided a financial advantage, just look at a variety of advertising in print and electronic media, insurance ads have been circulating everywhere. It encouraged the existence of a feeling of doubt as to the existence of capital in anticipation of losses in the future.

Wikipedia itself writes, insurance is a term used to refer to the actions, systems, or business where the financial protection (or financial compensation) to people, property, health and so forth to get reimbursement from the events that can not be expected to occur such as death, loss, damage or illness, which involves the payment of premiums on a regular basis within a specified period in exchange for a policy that ensures protection.

Similarly with Drs. Salim Abbas in his book titled "Principle of Insurance " said Insurance is a willingness to establish small losses (less) which is definitely in place of large losses is uncertain. We can see that, the statement Drs. Salim Abbas gives an image of human life that can not be predicted and confirmed what happened, as is often said to people, the future is a mystery so we are not able to clearly predict.

 
Principle of Insurance at the present time not only as a social security of our future, the role of insurance is offered by several insurance companies in the world even adding a savings feature (like a bank) that is integrated into the insurance service. So, if we are insured, of course we will pay a premium. However, not all of the premiums paid to insurance companies as social security but also as a savings or money in the future, where we can withdraw them in time which will depending on the agreement between the company with the insurance policyholders.

However, did you know where the actual services performed by the insurance company at first? Is the only life and health insurance services are always provided by the insurance company? So, it turns out there is a wide range of insurance services provided to consumers, the following classification:

 
Insurance (General Insurance). That is about the property, fire, and others. More precisely the property lost or damaged due to natural disasters, human hands that are directly or indirectly.
Varia Insurance (Marine Insurance). Which is an accident insurance, car insurance and theft. Often we look at the means of public transportation on kecelekaan insurance.

Life Insurance (Life Insurance), insurance is intended for consumers concerning the soul and life of the policyholder. This insurance is usually addressed by a consumer concerning the death, illness, and disability.
 

Meanwhile, an expert said in his book entitled "General Insurance" provides a classification of insurance that can be said to be different than the previous insurance classification. John H. Magee is the expert's name, and the following explanation:

Social Security. Social security is compulsory insurance, because that every man or the resident must have it. Aims to guarantee that each one has a guarantee for old age. This form is executed by force, for example by cutting a percentage of salaries every month. Another example is, social security if someone has fallen ill, accidents and so forth.

Voluntary Insurance. Form of insurance is run by volunteers, so it is not by force such as social security. This form of insurance that we often see in a wide range of print and electronic media. So, every person can or can not have this voluntary insurance. The voluntary insurance is divided into two categories:

1. Government Insurance. Insurance is run by Government or State, for example, social security granted to civil servants.
2. Commercial Insurance. Insurance is intended to protect a person / family / company from the risks that could cause harm. The purpose here of course the insurance companies in the commercial terms and with a pattern of mutual benefit. In general, this type of insurance is divided into two large portion is in the form of Life Insurance and General Insurance.