There are several types of insurance offered by many insurance offices. This time we will discuss the differences Whole Life Insurance and
Endowment Insurance. Get Living benefits life insurance by visiting our website and register yourself.

Whole Life Insurance
Life insurance type of life or whole life insurance provides lifetime protection, although typically, insurance companies limit the protective benefits until just 100 years. Life insurance is recommended for those who do not have dependents and want the benefits are more than just a death benefit, or you are interested in the idea of long-term savings. So, if you want protection soul as well as savings for emergency needs such as paying hospital bills, you can consider buying a life insurance policy of this type.

The advantage of this type of life insurance is:
Policyholders possible to obtain the present value of premiums already paid. If you as the insured is unable to pay the premium instalments regularly, you can use the cash value of the premiums already paid to pay further premiums.
Insurance premium that was paid will be forfeited if there is no claim.
When the contract expires, the sum insured will be given in full.

Meanwhile, shortcomings are:
The premiums are larger than term life insurance premiums and could be more than doubled. The reason for this is the high premium because the life expectancy of Indonesian people is only 65 years for men and 70 years for women, so the possibility of an insurance claim before the period of protection ended higher.

Endowment Insurance
Types of life insurance or endowment insurance endowment are as the name suggests is the insurance which has two benefits, namely, term life insurance as well as savings. This means that you as a policyholder can obtain cash value of the insurance premium that was paid in the form of the sum insured if the insured dies within a specified period in accordance with the policy of the insurance policy in question and may also withdraw the insurance policy within a certain time before the contract expires. This type of life insurance is recommended for those who prefer to ensure the availability of funds for children’s education, want to have the funds for unforeseen needs in the future, and would like to have larger pension funds.

The advantage of this type of life insurance is:
As explained above, you can claim a life insurance policy before the contract expires, for example, to fund your child’s education. However, withdrawals can only be done once in a period of several years in accordance with the agreements that have been made.

Meanwhile, shortcomings are:
Because this type of life insurance has two advantages like combines the benefits of a term life insurance with life insurance, so the premium is large enough.