PAPER

Insurance and Non Banks Institution BY: FANNY OKTIVIA DENOVIS

0910514021 INTERNATIONAL PROGRAM ECONOMICS DEPARTMENTS FACULTY OF ECONOMICS

2012

ANDALAS UNIVERSITY

BAB I GENERAL EXPLANATION

A. DEFINITION OF INSURANCE
According to Article 246 of the Commercial code of the Republic of Indonesia: Insurance is an agreement by which a guarantor is binding on the insured to receive a premium, to reimburse him for any loss, damage or loss of expected benefits, which may be suffered due to an event that is not certain. a. b. c. d. Insured Insurer Accident Interest

According to Prof. Mehr and Cammack: Insurance is a social device for reducing risk by combining a sufficient number of units exposed to risk, so that their individual losses collectively predictable. Then the predictable loss was borne equally by those who joined. According to Prof. Willet: Insurance is a social tool to raise funds to address capital losses are not necessarily, carried out through the transfer of risk from many individuals to a person or group of people. According to Prof. Mark R. Green: Insurance is an economic institution that aims to reduce risk, by combining in a number of management objects large enough numbers, so the overall loss can be predicted within certain limits.

B. KINDS OF INSURANCE

Its terms

of

Social Insurance or Mandatory insurance

Voluntary Insurance
ASTEK, TASPEN, ASABRI

PT. Jiwasraya, PT. Jasa Indonesia,

of The object type facet

Individual Insurance General Insurance

C. INSURANCE COMPANY IN INDONESIA

Insurance life Company

AJB Bumiputra, PT. Asuransi Bumi Asih Jaya, PT. Jiwasraya, dll.

Insurance Company Losses / General

PT. Asuransi Jasa Indonesia, PT.Asuransi Ramayana, PT. AsuransiEkspor Indonesia, dll.

Reinsurance Company General Reinsurance Company

PT. Reasuransi Umum, PT. Askrindo, PT. Maskapai Reasuransi Indonesia

Insurance Company social

Perum Taspen, PT. Astek, PT. Jasa Raharja

D. DIFFERENCE BETWEEN INSURANCE WITH SAVING

INSURANCE 1. The amount of money to be received can be determined solely by the policyholder at the time the agreement was made. SAVING 1. The amount of money that will be accepted depends on the willingness of savers, if the will be accepted.

greater willingness, the higher 2. There is no element of shall not be saved.

2. Any element of compulsion regular basis

(compulsory) to pay premiums on a How much premium to be paid is

compulsion in saving, voluntary,

3.

determined based on actuarial repayment.

3. The amount of money saved

calculations, including the time of 4. There is a financial protection

each time saving is not fixed, savers.

depending on the willingness of 4. There is no function of

functions, which guarantees received the money for sure, according to the agreement.

protection against risk.

5. By the time the insured dies amount pay smaller premiums. unlimited.

received is uncertain, though the new

5. The amount of money received depends on the number of deposits plus interest.

6. Is collective, all for the freedom of

6. Individual and free.

E. BENEFITS INSURANCE
as follows: Insurance benefits can be traced from many dimensions which in this case can be described

1. Protecting An Investment Risk Insurance

avoided over, even eliminated / reduced the risk, it is possible and encouraged entrepreneurs to ensensial. Investment bankers, for example, will feel more confident assessment of the specific projects where all the project risks that may occur has been covered by insurance. Thus, insurance A company that seeks to make a profit, the presence of risks and uncertainties can not be

concentrate its skills in developing creative efforts. Insurance has become a part of every company

companies whose primary task is to provide protection to other firms has become an economic institution that has no small role. Without insurance, the current economic progress is impossible to achieve.

2. Insurance as a Source of Investment Funds

Insurance business as one of the non-bank financial institutions that collect public funds, an

increasingly important role as a source of capital for investment in various fields.

3. Insurance Requirements for Completing Credit

Creditors have more confidence in the company that insured the risk of their business

activities. Lenders are not only interested in the state of the company and the existing wealth, but protections is to have an insurance policy.

also how far the company has to protect itself from the events unforeseen future. How to get

4. Insurance can Reduce Concerns

Primary function of insurance is to reduce the anxiety caused by uncertainty. Insurance

companies are not authorized to prevent the occurrence of unexpected losses.

5. Health Care Insurance Help

Which is closely related to the onset of the loss is promotion done by the insurance company

to its policyholders and especially the public in general. Contribute a life insurance company in order to improve public health is enormous.

F. ELEMENTS OF INSURANCE
a. Insurance Policy Insurance is a very valuable contract documents that are evidence of remembering the contract was formulated when the insurance company will pay the amount to be borne and paid.

insurance agreement between the insured with a bear party (insurance company). The

b. Insurance premium

The premium is the amount of money that must be paid by the Policyholder to the

Underwriters in the manner specified in the policy and a requirement obtaining insurance coverage. Each premium payment given proof of payment of premium. Premium payment is sesaui with time and the amount that has been agreed in the insurance policy.

c. Cash Value

Cash value is the amount of money that will be paid to Pemegan policy, if the insurance value or not, it can be seen by looking at the General Provisions or Supplementary Provisions Policy

contract terminated before the insurance expires. To ascertain whether the policy has a cash

BAB I SPESIFIC
Based on the explanation above, I am interested in interviewing people who use insurance and who do not use insurance. Some of these are:

1. JOHN WILLMAN, S.E,

IDENTITY:
Name Age Date of Birth Address Last Education Jobs Using Insurance Kinds of Insurance Time Premi account : : : : : : : : : : 09/07/1968 Birugo no 126 B Bukittinggi Bachelor Degree Pemilik toko Jepara Jati Yes Prudential (life insurance) 10 years Rp. 500.000,JOHN WILLMAN, S.E

Reasons to Use Insurance:

1) Ensure that your family has enough money if you die unexpectedly. Or, get the protection your family when you have a total permanent disability due to illness you suffer so that you can not work as before course, we never expected this catastrophe. Even if that happens, when you have to protect yourself with insurance products, the family as the heir will get valuable protection against the risk of unexpected things in the form of the sum assured. 2) Ensure that your family can maintain the standard of quality of life when you die. Without the protection of life insurance, the incident resulted in lost family income that your family living standards penurunan.kondisi subsequently experienced an unexpected and negative impact can be eliminated if you already have a life insurance policy. The insurance policy you have will provide financial compensation in the form of the sum insured and other insurance benefits for your family as heir. Of course, they get compensated in accordance with the program that you buy insurance

2. SASTRAMED Identity :
Name Age Date of Birth Address Last Education Jobs Using Insurance Kinds of Insurance Time Premi account : : : : : : : : : : 06/10/1959 Padang Panjang Graduated STM Civil Servants Yes Prudential (Life Insurance) 10 years Rp. 500.000,SASTRAMED

Reasons To Use Insurance:

The reason, for example if you are ill, Prudential will provide coverage and not have to drag that balance pension plan that we are not disturbed. This means that your risk management has been successful. You have removed the financial risk to the insurance company. Simple is not it? Savings in prudential will also get many benefits, the program we call: Pru link unit of insurance premiums is not burned because it combines investment and protection principles or other terms combined banking and insurance. This program is like designing the fund. So while we take advantage of the protection afforded us also simultaneously designing future funds or pension funds.

3. EVI NOVERI
Identity :
Name Age Date of Birth Address Last Education Jobs Using Insurance Kinds of Insurance Time Premi account : : : : : : : : : : EVI NOVERI 48 years 03/05/1963 Padang Panjang Bachelor Degree Teacher Yes Prudential (Life Insurance) 10 years Rp.500.000,-

Reasons to use insurance: a)

Fill your needs in old age or the availability of superannuation. By the time you are in the productive age, you can earn a maximum, and it is in accordance with the contribution you make. Over time, your age continues to grow, and to a point you are going to retire. At that moment, the premium you pay for retirement purposes will be able to help you in meet diverse needs. You still receive sufficient funds for your needs from month to month.

b)

Ensure that you get additional income when you are facing a serious illness or fatal accident. The reality is, no one would have imagined the fatal things, such as an accident or prolonged illness. If that happens, and you're protecting the life insurance, you can get protection against the risk of a variety of unexpected things. In all circumstances you're experiencing, you hold an insurance policy can produce protective benefits so that you get adequate funding during treatment. Death, misfortune, never predictable arrival

4. NELISABET

Identity :
Name Age Date of Birth Address Last Education Jobs Using Insurance Kinds of Insurance Time Premi account

: : : : : : : : : :

NELISABET 35 06/07/1977 Jln. Kemuning no.24 Pintu Kabun Bukittinggi Bachelor Degree Nurse No -

Reasons dont use insurance

Because in Indonesia is not insurance minded, not open-minded about insurance, the thoughts that take insurance let people die so quickly, because there are people who say do not take insurance even long dead. There is also the thought entered the insurance premiums are forfeited loss for why now many insurance companies Why join insurance with savings so at the end of the insurance period no cash value that can be taken with interest.

5. SADTIM

Identity :
Name Age Date of Birth Address Last Education Jobs Using Insurance Kinds of Insurance Time Premi account

: : : : : : : : : :

SADTIM 42 03/09/1970 Ulu Gadut Padang Bachelor Degree Lecturer No -

 Reasons Dont Use Insurance a)

insurance claim entry is easy but just so difficult and complicated. And usually just sticking agent fitting initial premium payment of any such claim agentnya not want agent. to help or already berenti of the company and to other companies in the insurance

b)

Insurance Fund came out when we are sick And sick time (and health insurance) are not all covered by insurance plus obvious bureaucratic Even if healthy or denied nominal value of the currency, the loss . Better invested into the property only. even further, a few tens of years and taken it by no means due to an increase in the

BAB III CONCLUSION

In general, insurance is risk mitigation for any damage, loss of benefits and legal liability to third parties arising from uncertain events. Insurance is short term (short term) - usually a year. While life insurance provides services in risks mitigation associated with the life or death of an insured person and the nature of long-term (long term). In accordance with the provisions of the Law No.2/1992 tentan insurance business, each field of insurance is managed by a different company, although for some products, such as health insurance and personal accident insurance can be managed by either the insurance company or life. In addition to protection and guarantees, insurance also offers a variety of benefits such as getting useful inputs to minimize the risk. Generally, the insurance company has a team of Surveying with experience with it can provide recommendations to minimize the risk to the interests of the insured. Insurance can also serve segabai savings. This is evident in the benefits offered by life insurance. Basically, the results received at the end of the maturity is a collection of premium savings plus interest. That should be remembered, in terms of the nature of its business, the insurance company is not an investment company so the interest rate offered is usually lower than the interest on deposits or savings.