Monday, July 9, 2012

INSURANCE WORKERS: Social Security coverage for informal workers prepare

JAKARTA: PT Ministry of Social Affairs and Social Security signed a memorandum of understanding on Social Welfare Insurance.

Memorandum of Understanding (MoU) between two agencies that will provide social protection for workers outside the employment relationship with the help of contributions (premiums) Social Welfare Insurance.

Social security programs will be given to informal sector workers for 2012 is a work accident insurance program (JKK) and life insurance (JK).

"The calculation of basic earnings premium to the working poor informal sector participation is set at Rp 800,000," said president director of PT Jamsostek Hotbonar Sinaga on the sidelines of the signing of the MoU on Monday (9/7).

He stressed the social security is social protection to ensure that all people in order to meet the basic needs of life they deserve.

With the function of providing premium is expected to increase the number of informal sector workers or workers outside the employment relationship have the protection of employees' social security programs such as the 1945 Constitution.

Meanwhile, Director General of the Ministry of Social Protection and Social Security Dulung Andi ZA, said that this year goes to social welfare insurance program in PT Jamsostek.

"Next year we propose a much more perfectly matched with the Indonesian people, especially those for informal workers are poor," he explained.

Sunday, March 25, 2012

In terms of Life Insurance.

Heirs: Name of person listed in the policy to accept compensation in case of death of the insured.
Application: This form must be filled by the candidate and the candidate Insured Policyholder protection when applying for insurance to the underwriters.
Life Insurance: A system of protection in the form of risk transfer from one person (the insured) to the Insurer. Insurers agree to pay a benefit upon the insured risk if the Policyholder agrees to pay the premium amount is determined by the Insurer and has met all the requirements of the Insurer.
Lapse: Loss of the benefit / protection insurance policy premium payments ceased due to or exceed the period of payment flexibility.
Receipt: Proof of payment received by the policy holder premium payments have been made and evidence that payments have been recorded by Sequis Life.
Lapse Notification: Notification in writing of the Insurer to the policy holder that the policy has lapse.
Probation (Contestable Period): The period of two years in which the Insurer has the right to question or investigate the accuracy of the information / data provided the insured or policy holder in a letter of application to determine the subsequent decision on the policy contract.
Minor: A person who is under age, ie under 21 years old and unmarried.
Policyholders: What entered into an agreement with the Insurer. Policyholders should not always be insured.
Recovery: The return status of the lapse to inforce policyholders to recover the benefit / return guarantee of protection.
Insurer: Insurance company that provides insurance protection through agreements in insurance contracts.
Policy: A written document issued by the Insurer that the insurance agreement between the Insurer and the Policyholder and legally valid.
Orphan Policy: Policy is no longer active agent.
Active Policy / Inforce: Insurance Policy where premiums are paid on time or fully paid.
Automatic Premium Loan (APL): an automatic policy loans taken from the Cash Value Policy (as long as sufficient cash values) to pay off the unpaid premium until the end of their discretion (not applicable to Unit Link Insurance Policy).
Premium: A sum of money specified in the policy to be paid to the Insurer for a number of benefits listed in the insurance contract.
Premium Notice: A letter of notification from the Insurer to the Policyholder the amount of premium due soon.
The premium-free policy sum assured is reduced / Reduced Paid Up (RPU): Changes in the sum assured in accordance with the Cash Value is necessary so that the premium payments that will come in and kind of turned into Insurance Endowment insurance (endowment).
Regular premium policy: A policy that requires periodic premium payments (monthly,  Semi-Annual, Annual).
Rider (additional benefits): rider is an additional benefit that can be included in a basic insurance program. This benefit is designed to provide additional financial protection at lower cost.
Single premium policy: a policy that requires only one premium payment is made in advance.
Surrender: The sale of the policy to the Insurer of the Cash Value was formed at the time of the sale of the policy carried out.
Insured: The person that life / health insurance covered under the Contract.
The Beneficiary: A person or institution named in the policy as the party entitled to receive the sum insured if the insured died.
Top-up: the addition of investment funds.
Sum Insured (Face Amount): Sum Insured stated in the policy page that will be paid in the event of death or other conditions of the policy is paid at the coverage period ends in accordance with the kinds of insurance are taken. Does not include an additional amount to be paid to other special provisions.

Why is insurance important?

Insurance and risk
Insurance was closely related with the smells of all kinds of risks. These risks can occur anytime and anywhere without being able to advance in the prediction, so many people who find it difficult to anticipate the risks that occur. The nature of risk itself can not be eliminated or avoided, but the impact of the risk can be minimized by transferred to the insurance. In this way then one can minimize the risk of a financial loss arising.
Diversification of risk
Can function as an insurance risk transfer, it is appropriate to the function of insurance itself where the individual or group of people can avoid a greater risk of loss by altering the risk of loss to a party to 2 (ie, insurance) to be borne, in which individuals or replace it with a group of people are paying the risk tersebutdengan a smaller number of losses (premiums) to the insurance.Some examples of that if anyone at risk of critical illness that requires a huge cost in such treatment, this will affect a person's financial therein due to unexpected expenses that resulted in disruption of the person's financial value, and therefore this risk can be transferred to the insurance, then the insurance will pay the cost of such treatment.
Keeping the wealth of a risk
But how risks are not insured? This will greatly affect adversely the financial risk of a person at the time had come. The occurrence of a financial risk can disrupt a person who will have an impact on changing the person's lifestyle. Risk due to the change of lifestyle can lead to lower standard value of a lifestyle. Impairment standard lifestyle is often the case this can give negative effects, where the discomfort one must change lifestyle patterns to a lower level. It is unfortunate when a person should have to give up some of his dreams disappear just because of the risk occurring. There is therefore a good idea before it came risks, one has to anticipate these risks to divert them to the insurer. So if the risk arises, one does not need to worry about the decline in standards of lifestyle or lose his dream.

The types of risks that affect financial
Economic risk
Economic risk is one risk that is often encountered and rarely can be avoided by anyone. Office employee or an entrepreneur always forget the main function of private insurance. This is because insurance is not a priority for them. For an employee, they felt it was safe because it was covered by insurance facilities for an entrepreneurial company while they are more concerned with the development of their business regardless of the insurance function.
Economic risks are risks that should be avoided and be aware of all walks of life. For an employee, the economic risks such as inflation or a collapse of the economy of a country could lead to rising unemployment or often hear the term layoffs. Ordinary person in a state of unemployment have a higher risk, this is because there is no longer active income revenue. Besides, the discharge or termination facilities provided by the company providing for the misfortunes that have laid off employees. But if at the time of these risks appear this will really be a burden to the person.
An entrepreneur can also experience the same thing happens when the economic downturn in a country. Business they will have difficulty in doing market penetration resulting in their revenues go down, or even a loss occurs. This situation was not favorable to the owners of the entrepreneurs who never thought about insurance as risk transfer to a state that does not want. So that it appears only if the risk will increase the burden of costs for an entrepreneur.
Therefore it is better to have an employee or self-employment or private insurance so they will feel more secure and comfortable without having to be afraid of these risks.
Technology risk
Increasing advances in technology sometimes makes one's daily activities. But besides that technological advances have provided an increased risk for users as well as the surrounding environment. As technologies such as kitchen appliances, electrical or equipment that we use daily are at risk without realizing the risks. As examples of risks that are often found in technology are resulting in gas leakage which there is a risk, or short electric current, or dysfunction is also operational on means of transportation as often happens these days. Some of the mentioned technologies are technologies that can not be separated from our daily lives and it is impossible to leave. Basically this is some risk can be predicted from the beginning but rarely ignored by the surrounding environment. It would be very dangerous and harmful if we keep ignoring this situation continues without taking any action. This should be a reference to minimize the risk of large losses by way of transfer to the insurer before the risk occurs.
The risk of human error
The risk of human error is the most common risks around us. This is caused by the negligence of someone that can result in risk to yourself and everyone around them. Some of these omissions may occur due to physical condition or lack fokusan person to perform a task. Examples of risk of human error that often occur around us every day is like driving a car, a lot of human error that occurred such as drowsiness during driving, exceeding speed limits or lack of concentration in the drive. It can cause risk of injury to themselves and to the surrounding environment. The risk that one is very difficult to predict or in anticipation before because we can not control what happens in the environment around us.
Risk maturity
This risk is often referred to as natural risk, or aging caused by someone age. This risk can not be avoided because it is absolute and must come. The average risk of popping when one is above the age of 45 years. These risks arise due to the various aspects of the irregular pattern of life at a young age, the risk of job, or weakening physical condition. Basically, if a risk situation has arisen, it would be very difficult to accept the insurance company can transfer the risk, or an acceptable cost to be paid very expensive. There is therefore a good idea before the risk occurs, someone turned it to the insurance.

Once we maenyadari some risk above, it would be very hard for us if it can not minimize the losses that arise, because most of these risks can not be in control or in the prediction of the coming time. Therefore, prior to such risks arise, someone had to be transferred to the insurer in order to minimize the losses incurred.

Why do we need to insure ourselves?

Why do ya have to have private insurance? hmm is his simple answer:
  1. By owning life insurance, so I had to give food for my family when I was exposed to natural risks, which the insurance company will pay a sum of money (the sum assured) to my heirs, in this case my family. The money can be used for living expenses for my family. So there should be no sense of anxiety in me because my family was safe from the financial problems that occur when there is a risk.
  2. If I had a physical disability and can not work anymore, I will also get a sum of stock life insurance company for me and my family.
Or it could be the event:
  1. When I was diagnosed with a critical illness, the insurance company will pay some money for my medical expenses. So I do not have to worry anymore with the financial problems.
  2. Admitted to hospital. So that it can inhibit revenue which I get not to mention the cost of his hospitalization. But this is not a problem because the cost could be covered by insurance companies. But as a small note that the amount of money that is replaced is not necessarily 100%, depending on the product and contract sum agreed in the insurance contract.

Monday, February 6, 2012

Insurance Law In Islam

Insurance Law in Islam is different from one species to another, as for the details as follows:

First: Insurance Ta'awun

For ta'awun insurance allowed in Islam, the reasons as follows [5]:

    Ta'awun including tabarru insurance contract '(voluntary donation) which aims to work together in Playing the distress, and took part in the responsibility in the event of a disaster. The trick is that some people donate some money allocated for compensation for people affected by the loss. Ta'awun insurance group is not aimed at commercial and profit from someone else's property, but only aims to alleviate the threat of harm that would befall them, and cooperate in the face.
    Ta'awun insurance is free of riba, usury fadhal good, or usury nasi'ah, because there are no elements of riba akadnya premiums collected and invested in the institution is not a member of the smell of usury.
    Ignorance of the participants about the exact amount of insurance compensation to be received is not something that is influential, because in essence they are the donors, so here is an element of speculation, uncertainty and gambling.
    The existence of insurance or representative of some participants who invest the funds collected for participants to realize the goal of establishment of this insurance, either voluntarily, or with a specific salary.

Second: Social Insurance.

So is the law of social insurance is allowed for the following reasons:

    Social insurance is not included mu'awadlah contract (purchase), but it is a partnership to help each other.
    Social insurance is usually carried out by Government. The money paid by members are considered as tax or fee, which will then be invested in government to cope with the disaster, catastrophe, when suffering from pain or help in retirement and old age and the like, which in fact it is the duty and obligation of the Government. So in this contract as there is no element of usury and gambling.

Third: Business or Commercial Insurance

As for the Commerce Insurance is haraam. As for the arguments diharamkannya Insurance Commerce (Business), among others, as follows [6]:

First: Business Insurance Agreement is included in the contract agreement that financial compensation is speculative, and therefore contains an obvious element of gharar. Because the participants at the time of the contract do not know exactly the amount of money that will give him and he would receive. Because it may be, after once or twice to pay dues, an accident that he was entitled to rations promised by the insurance company. But sometimes there is never an accident, so he paid the entire amount of dues, but did not get anything. Similarly, the insurance company can not set the amount to be provided and to be received from each contract separately.

Second: Business Insurance Agreement including a form of gambling (gambling), because it contains elements mukhatarah (speculative risk-taking) in compensation money, it also contains (al ghurm) harm one party without errors and without cause, and an element of profit-taking without compensation or in exchange for the unbalanced. Because the participants (insurance recipients) sometimes new insurance fees to pay once, then a crash, then the company was forced to bear the loss because they have to pay the total amount of insurance without reward. In turn, may be no accident at all, so that the company take advantage of the entire premium paid all participants free of charge. If there is uncertainty like this, then this contract including the forms of gambling are prohibited by Allah swt

Third: Business Insurance Agreement that contains elements of riba and riba nasi'ah fadhal once. Because if the insurance company pays compensation to the participant (receiving insurance services), or to his heir in excess of the amount of money they had deposited, meaning that fadhal usury. If the insurance company pays it after a while, then it includes nasi'ah usury. If the insurance company to the customer only pays for which he deposited, meaning that only usury nasi'ah. And both types of riba has been prohibited by the texts and the consensus of the scholars.

Fourth: Financing Agreement also contains elements of Rihan (bets) are forbidden. Because it contains elements of uncertainty, fraud, and gambling. Shari'a does not allow bets unless the benefit of Islam, and raised syiarnya with proof and weapons.

Insurance is not included in that category, not even close at all, so forbidden.

Fifth: Financing Agreement is included to take the property without compensation. Taking property without compensation in any form is forbidden commerce,

Sixth: Business Insurance Agreement requires that an element of something that is not required by the Personality '. Because the insurance company never created the danger and was never a cause of danger. That there is just a form of agreement to the participants receiving the insurance, that company will be responsible for hazards that may be happening, in return of the amount of money paid by the participants receiving insurance services. Yet here the insurance company did not do any work for the service recipient, then the act is clearly unlawful.