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Insurance is a term used to refer to an action, system, or business where financial protection (or financial compensation) for the soul, property, health and so forth get a replacement from unpredictable events that can occur such as death, loss , damage or illness, which involves paying premiums regularly within a certain period of time instead of a policy that guarantees such protection.




The term “insured” usually refers to everything that gets protection.

Basic Insurance Principles

In the insurance world there are 6 basic principles that must be met, namely:

• Insurable interest, namely the right to insure, arising from a financial relationship, between the insured and the insured and legally recognized.

• Utmost good faith, which is an action to disclose accurately and completely, all material (material fact) facts about something that will be insured whether requested or not. The meaning is: the insurer must honestly explain clearly everything about the extent of the terms / conditions of insurance and the insured must also provide clear and correct information on the object or interest insured.

• Proximate cause, which is an active, efficient cause that causes a chain of events that results in an effect without the intervention of one who starts and actively from new and independent sources.

• Indemnity, which is a mechanism by which the insurer provides financial compensation in an effort to place the insured in the financial position he had just before the loss occurred (KUHD article 252, 253 and affirmed in article 278).

• Subrogation, namely the transfer of claim rights from the insured to the insurer after the claim is paid.

• Contribution, which is the right of the guarantor to invite other guarantor who both bear, but do not have the same obligation to the insured to participate in providing indemnity.

Type of Insurance

1. Life Insurance

This type of insurance is known to provide financial benefits to the insured for his death. The payment system for this type of life insurance varies. There are insurance companies that provide payment after death and others can allow the insured to claim funds before his death.

Life insurance can be purchased for self-interest and on behalf of the insured alone or purchased for the benefit of a third person. Even life insurance is also known to be bought in other people’s lives. As an illustration, suppose a husband can buy life insurance that will provide benefits to him after the wife’s death. Parents can also insure themselves against the child’s death.

2. Health Insurance

This type of insurance is also quite well known by the people of Indonesia. Health insurance is an insurance product that handles the health problems of the insured because of an illness and covers the cost of the treatment process. Generally, the cause of the insured’s illness which can be borne by the insurance company is injury, disability, illness, until death due to accident.

Health insurance is also known to be bought for the benefit of the insured or the interests of a third person. Private health insurance companies such as Prudential, Allianz, AIA, Cigna, and Manulife are among the big names that provide a variety of insurance products to suit the needs of the Indonesian people and are widespread throughout the world.

3. Vehicle Insurance

The most popular vehicle insurance in Indonesia is a type of car insurance that focuses on injury coverage to other people or against damage to other people’s vehicles caused by the insured. This insurance can also pay for the loss or damage to the insured motor vehicle.

Vehicle insurance is one of the general insurance products. This type of insurance had become a boom when the riots broke out in May 1998 because the incident made people’s interest in protection ownership for private vehicles increase dramatically.

The financial site Cermati.com has partnered with well-known insurance companies in Indonesia so you as a customer can compare the best car insurance products with low rates.



4. Education insurance

Dizziness with children’s education costs? This type of insurance will help you overcome. Education insurance is the best alternative and a solution to ensure a better life, especially in children’s education assets. The cost of the premium that must be paid by the insured to the insurance company varies according to the level of education to be obtained later. Understanding the importance of using education insurance for children is now a matter of concern for parents. The high cost of education and other conditions that exacerbate the economy such as the weakening of our currency against the US dollar affect the cost of education for children later. Realizing that this clearly will burden parents, it is not uncommon for parents now to choose to have education insurance. So, education insurance can be classified as the types of priority insurance too, right? You will certainly be helped in taking care of the child’s future.

5. Travel insurance

Maybe for those of you who often travel or travel are familiar with this type of insurance. The various types of insurance also create a variety of protection for travelers. Overall, the function of travel insurance is not much different from the ordinary insurance function as a form of protection for customers with a short period of time that is for the premium buyer to travel until returning home. Benefits and protection that will be gained from having travel insurance include obtaining protection and coverage for accidents that affect premium buyers, personal accident benefits, dependents for emergency medical expenses, repatriation of bodies, medical evacuation, to protection of luggage that has a risk of being lost. or damaged.

6. Business insurance

For those of you who have a business field, this type of insurance is important to consider. In addition to the types of insurance that involve individual protection, insurance that protects businesses is also needed. Business insurance is a protection service against damage, loss and loss in a large amount that may occur in one’s business. This insurance provides compensation for damage caused by fire, explosion, earthquake, lightning, flood, hurricane, rain, collision, until riots. Insurance companies usually offer a variety of benefits from business insurance such as protection of employees as business assets, investment and business protection, comprehensive life insurance for all employees, to health insurance protection packages for employees.

Advantages of Insurance Companies

Insurance companies also benefit from investment. This is obtained from the investment premium received until they have to pay the claim. This money is called “float”
Insurers can get profit or loss from float price changes and also interest rates or dividends in float. In the United States, property losses and deaths recorded by insurance companies were US $ 142.3 billion in the five years ended 2003. But total profits in the same period were US $ 68.4 billion, as a result of the float.

Insurance Refusal

Some people consider insurance to be a form of betting that applies during the policy period. The insurance company bet that the buyer’s property will not be lost when the buyer pays the money. The difference in fees paid to insurance companies against the amount they can receive if an accident occurs is almost the same as if someone bet on horse racing (for example, 10 to 1). For this reason, some religious groups including the Amish avoid insurance and depend on the support received by their community when disaster occurs. In communities where close and supportive relationships where people can help each other to rebuild lost property, this plan can work. Most people cannot effectively support the system as above and this system will not work for big risks.






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37 Replies to “How to Sell Life Insurance – AMAZING! | My Insurances Info”

  1. I may be wrong but the total premium paid in to the WL policy by age 80 wouldn’t be $52k, it would be (27 + 26 =) $53k.
    Now that isn’t a big deal or deal breaker.
    Yet something important here that is missing is that while the Term policies would be paying out $100k Death Benefit at any time….the WL policy (if it incorporated Paid Up Additions) would be paying, after the first few years of the policy, significantly MORE death benefit than $100k.
    That will be an additional benefit, and inflation protector, over the Term policy and can also be viewed as Time Value of Money.

  2. It is difficult to feel that the majority of people could ever be sufficiently “Self Insured”.
    Not when there is a 70% chance a person may need Long Term Care in their later years…which could eat up much if not all of what someone has saved up in cash or investments ( investments that would have to be sold, and thus diminished by Taxation)., which would leave the surviving spouse impoverished.
    Other scenarios would be: an expensive illness or injures due to an accident prior to death that would eat up So Called “Self Insuring” assets. ( and again: what ever assets they’ve saved up….well it’s highly possible 30% will go to taxes and some more lost to bad selling market conditions). Again, you could leave a spouse impoverished and/or commit a devastating blow to any Legacy desires you had.
    Life insurance is old age is a good risk diversification tactic! And WL is the vehicle that most often makes the best sense.

  3. This is a terrible video. To actually promote cash value is a ripoff. This has been proven thousands of time over and over again. How you can actually have a clear conscious to sell a product that has been proven bad for the consumer is unbelievable. There is no way a cash value policy is good for the consumer. To pay to borrow your own money is a ripoff. They will lose the cash value unless they pay for an additional rider. Investing in a term and a separate investment such as a simple index fund far outweighs a cash follow policy. If you were to properly educate the consumer you would explain this to the consumer. Unless the policy invests in an investment vehicle there is no such thing as a dividend. Its an overpayment of premium. There is so much misguided statements you are making. You are so very wrong.

  4. NO such thing as a PERMANENT policy. ALL insurance policy forms are made up of either a fixed term or annual renewable term product mixed or combined with a poor savings (and sometimes investment) product. You stop making payments, the insurance lapses. Don't dare go into the cash value…. Its overpayment of premium. Then you run out of money. Policy lapses… Not to mention the fact that you pay interest to borrow your own money. Snake oil. Why didn't you explain that the consumer (beneficiary) does not get the cash value at the death of the insured unless you sold them an additional rider which is also an annual renewable term policy. I can go on and on… I would love to get you on a public forum in front of millions to embarrass you to STOP giving bad INCOMPLETE information. Do what is right for the consumer. Its people like you selling b.s. advice that got many insurance companies sued and forced out of business. Looks like i need to give your state insurance commissioner a call. Poor sales. Period.

  5. Best way I've ever heard to simplify the decision-making process re: Life Insurance? "Pick two of three: You can can reduce your premium, increase death benefit or increase cash value…." 👍🏼👍🏼

  6. Term policy with convertibility… This makes the client's insurability CERTAIN! Then, if the client has term and gets diagnosed with a terminal illness (worst case), they can convert to whole life and the insurance company can do absolutely nothing about that. This position is all about what is the best option for the client! We, as advisers, have a fiduciary duty to our clients!

  7. As soon as he says "I don't want to give them all the information on how a permanent policy works", that's when you should run. Meaning, he doesn't mention the loan interest rate to get to the money and keep your policy or how most policies are written to where the cash value goes back to the company if you die. If you get someone low cost term and are also licensed to help them invest that difference in solid performing mutual funds they will have more money in their account. Do the math on term VS cv in his own example. Premium is $1000 less per year for 20 years or a total of $20,000 less. That premium savings is only $7000 less than the cv in year 20. Just a modest 3% ror would give you $27,425. The worst 20 year s&p 500 return was 6.4% in 1979. The best was 18% in March 2000. Split the difference and get a 10% return over 20 years and you're looking at $63,805. Is that more or less than the $27,000 he is praising? BTW the market has an average return of 10.4% since 1929. But he won't tell you that because of his big commissions on cv policies. Conclusion. Get a life and securities license and help people the right way.

  8. Dude I just sold a $1,000,000 whole life 20 pay policy because of this video. I was terrible at selling before this I couldn’t even sell $100k life. Yes my cut is only $8000 but it has built my confidence and drive like crazy

  9. Whole life insurance offers MANY variations to fit the VARIETY of consumer needs. You can't say that "whole life" doesn't work because for some it CLEARLY works. The main attraction is cash accumulation and pay outs are TAX FREE and it follows you your WHOLE life.

    I would probably get term insurance for 10-15 years then convert to a whole life. In my opinion, Whole life really works for the person that is making very good money, and has maxed out their 401(k) or IRA contributions that wishes to diversify their portfolio in with bond-like traits. Mind you, this wealth accumulation is tax free and in the case of death, both cash value AND benefit is paid out completely TAX free (depends on how policy written). Good luck "investing the rest" in a conservative fund, fighting admin fees, taxes AND inflation. You're probably making the same returns if not a little bit more than the whole life AND if you die, you're left with your wonderful 1-2% higher yearly returning portfolio to only be TAXED when your family receives it.

    Whole life is not for everyone, and it's up to your agent to truly understand your situation and recommend the best policy for YOU. You as a client looking for insurance should present these questions: Shouldn't I invest the rest, blah blah. If the agent can't justify it, then clearly he's not a good agent OR your situation doesn't make sense for it.

    Please correct me if I'm wrong, I take no offense to being proven wrong.

  10. Everyone seems to be so worked up in the comments about not being able to invest in the market if their money is in a whole life insurance policy. I don't get why everyone is claiming its a scam. Can't I just borrow against my whole life policy's cash value and invest in the market with that? What's the big deal here? Are the returns in the market not high enough to justify the interest rates charged by the life insurance companies? If not, which markets should I then stay away from investing in. I want something safe. Whole life insurance sounds like a stable financial instrument to use as a base for all kinds of beneficial results. I hate to say it, but some of these scam comments seem a little too poverty-minded for my tastes… always grasping for that next percent sign. Maybe you can wring double the returns out of the market, but I'm not really that great at "investing" or trading as most of these "invest the difference" comments seem to be promoting. It seems like both sides of the argument could use a little balance to understand this financial instrument properly.

  11. Very individuals have a need for life insurance after 60. Exception for business owners and UHNW. If you bought term and invested the difference, you would only need less than a 2.7% return to be equal cash value. That gap will only increase as the cost of insurance will provide a larger headwind in later years compared to the investment income. Even if you are taxed at 40%, the tax equivalent rate to keep pass with the insurance is still only 4.5%.

    Sleazy sales tactics without any real analysis.

  12. Your presentation and mindset is a MAJOR reason why people fail, financially, in life. As a statistician, life insurance has not changed the stats on people retiring wealthy. I challenge you to tell us: "How many people have become financially independent as a result of your insurance?" Allow me save you the time and I'll answer it for you: "ZERO"! "NONE"!

    Your presentation is full of double-talk and unrealistic scenarios. "An 80 year old with a life insurance need?
    Shame on you!" You sell to the uneducated; you couldn't sell a smart consumer! You are selfishly "commission-driven", not "consumer-oriented".

  13. There is always a need for life insurance. For every family I visit I can show them holes in their already existing financial plan. It's up to them to fill those holes. Not me. They decide. I only present my products. Term and whole life. The client decides. Sometimes they choose a term and a whole life policy. 20year term and whole life paid up in 20years. I offer solutions and use the products as tools. Good job on the video bro. My favorite line after doing an analysis is "Can I show you something?"

  14. Term Vs 8% Interest Cash Value Earning IUL F&G Life (With Great Living Benefits)? Which is better at the end of the ROP Term Period for the clients? Most reps simply have not been taught how to create the proper illustrations for clients because if they were none would offer ROP Term anymore unless it was substantially cheaper for the clients but it's not so why are you not earning your clients interest? (When they qualify for Term they qualify for IUL at 8%-9%.

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