Learn How To Use The Free Look Period As A Thorough Research Period For Insurance Policies

 

The Financial Services Authority (OJK) reported that the financial inclusion index was 85.10% and the financial literacy index was 49.68% in the 2022 National Financial Literacy and Inclusion Survey (SNLIK).

The two indices demonstrate that Indonesians are becoming more knowledgeable about a range of financial services, including insurance products.

A growing number of Indonesians are now beginning to understand the value of insurance as a tool for controlling financial risk. Understanding the value of insurance is important, but prospective consumers also need to be aware of the different types of policies available.

This is so that potential customers can select or purchase a policy that best suits their needs and capabilities. This is because each policy protects the rights and obligations of its consumers in a unique way.

Customers can benefit from the insurer's free look period to learn more about the specifics of the policy's provisions.

The customer is given the chance to review the specifics of the contents of the insurance they wish to purchase within 14 calendar days of receiving the policy.

The customer is urged to tell the sales team and the insurance firm as soon as possible to cancel the policy and arrange for the return of any premiums already paid if they do not agree with the terms of the policy within this time.

However, it is important to note that the costs related to the policy's issuance, such as any applicable medical examination fees, will be subtracted from the amount of the return. Customers must verify some items during the free look period, such as: Accurate policy data. Because it will influence when you submit an insurance claim, the accuracy of the data in this policy is crucial.

Name of the policyholder, name of the insured, residence address, phone number, email, correspondence address, name of the account holder, bank name, account number, NPWP, place of birth, and date of birth are the details in the insurance policy that you need to double-check.

Benefits of insurance are listed in the policy. Make sure the insurance benefits you receive at this time match your expectations and knowledge. The advantages of this insurance might take the shape of the protection provided and contained in the insurance policy that is obtained, as well as the money assured.

the premium payment amount and the payment schedule. You must be aware of your premium payment obligations as an insurance policy holder and premium payer. This sum needs to be paid into the insurance provider on a regular basis (monthly or annually).

The required premium payment amount typically varies depending on how each firm evaluates the potential insured. Exclusions from coverage are frequently listed in the insurance when you review it to see what exceptions make the risk insured.

This means that the insurance company has the right to deny the claim that the customer has made if the risk arises as a result of one of the things that are excluded.

You must be aware of, inquire about, and agree on the fees that will be charged to the policyholder / premium payer during the free look time.

The reason is because depending on the insurance plan you select, each provider will impose a variety of fees. The policy will include a breakdown of the sum. You can take advantage of this chance to learn more about this by doing so.

After having an idea of what must be read during the free look period, it's crucial to ensure that insurance products are purchased from reputable firms like Prudential Indonesia.

Prudential Indonesia, which has been trusted to safeguard 2.5 million Indonesians for 27 years, also provides life and health insurance solutions that can fit their requirements and capabilities.

Selecting an insurance provider that can offer the greatest protection services is a further factor that is crucial.

For 175 years, Prudential has been devoted to assisting and safeguarding the financial security of its clients and their families around the globe, including for more than 27 years in Indonesia and 100 years in Asia.

We have faced a number of obstacles over the years, but Prudential Indonesia has always stood steadfast and carried out its mission to safeguard the Indonesian people. One example of this is the settlement of claims totaling more than IDR 16 trillion* in 2022.

This is made possible by the faith that consumers have placed in the company and by excellent corporate governance, which upholds that trust. Our goal is to support them as they #SurelyStep into the future and achieve their goals in life.