History of Insurance From Year to Year

The year 215 BC

In the year 215 BC the Roman government was urged by the Supplier peliengkapan and supplies tentarakerajaan to accept the concept that protects them against all risks of loss that they have suffered over their goods on the ship as a result of maritime hazards as well as storm serangah enemy.

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Year 50 BC

CICERO in about the year 50 BC gave an explanation of the practice of providing protection or guarantee the safety of shipping money and securities during the trip. In return the party provide such protection given remuneration in the form of premiums to the protection provider.

Year 50-200

Emperor Claudius issued a guarantee to the importer against all losses they suffered due to the storm. Obviously in this case the premium charged anyway.

In about AD 200 in Roman growing associations called "collegia". The Roman soldiers "collegia" social events are held, among others, to raise funds for funeral expenses members who died or were killed on the battlefield.

The slaves were formed with the intention Collegianya if deceased can be buried properly (called collegia Nititum). Similarly, the brothers and the actors in Italy forming collegia called "collegia Tennorioum" in order to help the widows and orphans of its members.

year 1194-1266

The development of the human economy to the year goes on and this period is known a "Guild System" (System Gilda), the gathering of the people who have the same profession, then at that time formed the carpenters guild, guild bakers and so on.

The goal is the same as the purpose of collegia in Roman times, which is to improve the welfare of its members. From the data in the base can be said that the "collegia" and "System Gilda" is a social inventions that gained popularity and recognition of the public against the risks that must be addressed. The development of institutions like insurance keeps growing and eventually during the reign of QUEEN ELEANOR of Belgium (1194 - 1266) established the Insurance Act are listed in the "ROLE'SDE OLERON"

Principle of Indemnity (Loss Replacement)

Principle of Indemnity-Application of the principle of indemnity is an effort to control the faith-bad faith. Seek or utilize insurance for the purpose of seeking financial gain, through the manipulation of offset amounts.

Principle of Indemnity Compensation is defined as a definite and sufficient finances to restore the Insured's financial position after the loss, together with the financial position just before the occurrence of the loss event.

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Indemnities from insurance is not likely to exceed the amount of loss actually happens (the implementation of the principle of Subrogation and Contribution Principle will be supporting / Cololtary this Indemnity Principle).

Restitution will be equal to the amount of real loss that the insured natural. Even if the amount is smaller successor, it must be caused by the application of the terms of coverage stated in the policy document agreement.

The method or manner of payment / reimbursement losses:

1. Payment in cash / cash

2. By way of repair which repairs performed by the Insurance Company.

3. Reinstate the way the rebuilding of damaged buildings due to loss events. The reconstruction was carried out by an insurance company.

4. Replace the way the election or replacement with similar objects.

Assets in insurance rates, coverage should be done in accordance with the prices of healthy insured object in question. Coverage under a healthy price will result in a prorate restitution.

Not the Best Choice Insurance Education

Not the Best Choice Insurance Education-financial planning, the first need to do is menentuan first goal. Children are sent to school where we want? What is the entry fee for each level? Then we determine how much to invest.

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For example, like a kindergarten with an entrance fee of Rp 15 million now, the cost of kindergarten 4 years, assuming inflation of education 20 percent, to $ 31.104 million.

Usually at each school level, education insurance fund could be taken. But usually insurance education too often 'stuck' with other insurance such as life insurance and are not in line with the education fund. Investments that we do, either monthly or annually, is actually not optimal placed on such investment.

My advice, for education funds should you use other investment products such as mutual funds suitable for the fulfillment of the education fund.

Education Insurance for Children

Education Insurance for Children-You and your partner can prepare children's education through a wide selection of financial products, one of which insurance education. Insurance education can provide education from elementary, junior high, high school, to university.

To get the expense, you have to pay the premium amount can be determined according to your wishes. The larger the sum you want to get, the greater the cost of the premium to be paid. This type of insurance can be liquid (cash) per term, for example, when children have entered primary school, junior high, high school and university.

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As an illustration: the sum assured (UP) Rs 100 million and the premium to be paid annually approximately USD 8 million. One of the insurance provider will pay the insurance of Education every time children enter school, with the following conditions: SD 10 percent of UP or USD 10 million; SMP 15 percent of UP or USD 15 million; SMA 25 percent of UP or USD 25 million ; University 50 percent of UP or Rp 50 million.

Once the contract is completed normally when the child is aged 21, will exit cash funds 100 percent dr UP or USD 100 million. The total cost can be obtained is 250 percent of the UP.

The advantage of insurance education include:

* Premiums are only paid for 10 years. After that free premium but children still receive education until completion.

* You can get the cost per stage of school education.

* When parents died when only paying premiums for three years, then the next non-pay premiums while the coverage will go ahead.

The disadvantage, UP obtained often can not cover the cost of education tend to be more expensive. In order to be covered, the participants had to increase the cost of premiums to be paid per year or per month....

Types of Life Insurance Rider (1)

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1. Automatic Premium Loan (APL)

APL is a feature set that if your policy has a cash value, the insurance company will pay your premiums using the cash value if you do not pay, either because you forgot or accidentally. For many policyholders, taking this option is a wise action. Remember that insurance is protection. Do not be protected just because you do not miss a payment or experiencing temporary financial difficulties due date of payment of premium.

2. Waiver of premium (premium exemption)

Insurance policy with a long term payment usually offer this feature. Waiver of premium guarantee that if you experience total and permanent disability, you are exempt from premium payments. The insurance company will pay the rest of your life insurance. This feature must be selected when you apply for your life insurance.

You usually have to wait six months from the start to be disabled before benefits are paid. Read carefully the terms and conditions of this rider and discuss with your agent. The definition of total permanent disability varies in each policy. Some insurance companies exempt premiums if you can not work according to education, training and experience (own occupation). Others are exempt only if you are unable to work in any profession (any occupation). Others combine the two, such as the release of a two-year premiums if you can not work according to your profession and thereafter exemption is only given when you can not work at all. The insurance company will conduct its own medical tests to make sure that you are disabled and can not work.

Rider is usually quite expensive, can make your premiums 5-10 percent more expensive. For many policyholders, the rider is not too exciting. You might be better enhanced protection disability insurance (disability insurance) that gives you benefits if you become disabled. Some of the benefits that you can use to pay premiums. However, if you do not have disability insurance, this rider can be a convenient means of protection disability without having to buy a separate disability insurance policy.

Rider Know In Life Insurance

Rider Know In Life Insurance-Is life insurance rider? There is no equivalent standard for the rider in the Indonesian language. Optionally, the rider can be called as a complement or support life insurance which usually extend the benefits provided by a policy.

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Rider is an important part of a policy because it allows you to have insurance coverage that is more flexible and personalized. Therefore, you need to pay attention to the types of rider what is offered in your policy when buying insurance. Rider is optional, you can buy them as complementary features and you are also free to not buy it if I do not need. The premium for the rider is calculated separately from the basic coverage premiums. It applies to all of the following except the rider Automatic Premium Loan (APL), which imposed no additional cost and is attached as an integral part of the policy.


Takaful-Takaful is an insurance run in accordance with the rules of Islamic law. As with conventional insurance, Takaful goal is better management of risk to property and lives. Both are just different in the policy contract bonds and some operational aspects, especially investment activity.

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Policy Contract

Conventional insurance has not considered it because there are sharia-compliant transactions between the policyholder and the insurance company. Conventional insurance policy is a kind of agreement in which the policyholder pays a premium promised a certain amount of insurance coverage for a specific number. The agreement will be void if the premium is not paid.

This agreement is deemed to contain speculation (gharar) because there is uncertainty over the goods / services transacted. Insured pays the exact numbers, but the insurance company guarantees promised uncertain because no one knows what will happen insured risks.

To overcome this, Takaful create a different approach. In Islamic insurance, the sale and purchase transaction is converted into donations / contributions. Islamic insurance policy states that the insured will set aside some cash premium as donation / contribution will be collected in a mutual fund (tabarru ') for the payment of claims. Insured then collectively mengamanahkan mutual fund to be managed insurance company. Thus, there is no transaction between the insurer and the insured, there is a bond between policyholders bear one another through the mechanism of mutual funds. To calculate the amount of money that was "mandatory donated" their policyholders, insurance companies use actuarial and underwriting methods similar to those used in setting insurance premiums on conventional staple.


As with conventional insurance, Takaful products can also have a savings or investment element. However, to conform to the rules of Islamic development investment should be done with interest-free mechanism and in the halal industry. Therefore, managers Takaful just put funds in savings, deposits, bonds, and mutual funds. They also do not put money in stocks in industries such as cigarettes, alcohol and conventional banking.

Personal Accident Insurance

Personal Accident Insurance-Personal accident insurance is a type of insurance that is quite popular. Ads are many insurance products we see in the newspapers, internet, and even television. Its simplicity makes this insurance can be distributed directly without going through an agent or other financial professional.

You can get accident insurance as a stand-alone policy or as an additional product of the primary insurance policy. Variety and benefits of accident insurance coverage varies greatly among companies. Now there is even a personal accident insurance product that provides additional protection from dengue fever!

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Here are some of the types of benefits that may be covered under personal accident insurance:

1. Compensation for death due to accident (accidental death)

If you die in an accident whatever, then your heirs will receive a certain amount of money compensation. This insurance like term life insurance / eka time but only covers accidental death protection. Deaths from the disease are not guaranteed.

Because of the possibility of death due to accidents is much smaller than the die of the disease, the premium rates are very low for this protection. If you have good health, you can save a lot by buying accidental death policy.

2. cash compensation

Accident insurance can pay a sum of money (per diem) if you have a permanent disability due to accident. To ensure that you have a permanent disability, usually a doctor's statement is required after a period of respite.

The definition of disability vary between policies. There is a policy that pays benefits when you experience limb loss (disability). Other policies will only pay if you lose a limb (dismemberment). If an additional benefit of accidental death insurance, the amount of compensation is usually expressed as a percentage of death benefit. For example, if you lose your thumb and index finger on the same hand, you will get 25 percent of the death benefit.

3. disability benefits

If your disability or temporary disability that can not work anymore, accident insurance can provide you with a monthly living allowance of a certain amount until you recover or until a certain maximum.

4. health insurance

Personal accident insurance can provide for the cost of medical evacuation, health care, medical and rehabilitation accident up to a certain maximum.

Life Insurance Benefits

Life Insurance-Said insurance may already be familiar to those that have worked. Insurance as you already know is the assurance of salvation when unexpected things happen before. In ancient times insurance is something that is considered a luxury and only intended for certain people only. But this time insurers have started reaching the entire community.

Insurance itself many kinds, namely life insurance, health insurance, motor insurance, home insurance and property or education. Of the various kinds of insurance above, each type has its uses, respectively. But the important is an insurance for your family?

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There are some people argue that life insurance has a function to protect one's income. In the sense that everyone has income should be mandatory to have insurance especially if someone already has a family.

If you are someone who has had a family means you have memilliki dependents should you insure. Here the insured is living or revenue intended to finance your dependents.

If there is something that does not want you as the backbone of the family, then your family will lose their source of income and financial instability caused the family. In contrast, if you have life insurance, the family you left behind still have a source of income from life insurance you have.

Thus the views of the importance of life insurance benefits are wise then you should consider life insurance to take care of your family and yourself. Permi insurance payments each month should also be considered.

If you have a considerable number of dependents, the payment of insurance premiums should be slightly larger to provide for your family. The calculation of premiums at least you negotiate with, at least you consider to provide for the family to have a spine replacement. For example, until your eldest child and adult can support his wife and her sister, or your wife coined until the job can be a source of family income if things happen that are not in want on yourself.