Discover a clear glossary of insurance terms, including cash value, pre-existing condition, premium holiday, and more.
TPA asuransi adalah sebuah sistem kerja sama antara perusahaan asuransi dengan pihak ketiga yang fokus pada pengelolaan dan verifikasi klaim. Menariknya, TPA asuransi adalah cara efektif untuk meningkatkan kecepatan layanan dan transparansi biaya dalam industri asuransi.
Broker asuransi adalah perantara independen yang bertindak atas nama nasabah untuk membantu mereka menemukan dan memilih produk asuransi yang paling sesuai dengan kebutuhan dan anggaran mereka.
Asuransi umum atau general insurance merujuk pada jenis asuransi yang memberikan perlindungan terhadap risiko finansial yang berkaitan dengan aset atau tanggung jawab hukum, tetapi tidak melibatkan perlindungan jiwa.
Asuransi dibayar di muka adalah premi asuransi yang telah dibayarkan lebih awal sebelum manfaat perlindungan diterima secara penuh. Biasanya, pembayaran ini dilakukan untuk periode tertentu, seperti bulanan, triwulanan, atau tahunan.
Surat asuransi adalah istilah yang merujuk pada dokumen berisi informasi penting mengenai perjanjian antara pihak tertanggung (nasabah) dan pihak penanggung (perusahaan asuransi), termasuk syarat dan ketentuan perlindungan yang diberikan.
Nomor polis asuransi adalah kode identifikasi unik yang diterbitkan oleh perusahaan asuransi kepada pemegang polis. Kode ini digunakan untuk membedakan setiap polis yang dikeluarkan dan memastikan bahwa pemegang polis mendapatkan perlindungan sesuai dengan ketentuan yang telah disepakati.
RSCC adalah bentuk perluasan jaminan (rider) dalam asuransi yang memberikan perlindungan terhadap kerugian akibat kerusuhan, pemogokan, dan huru-hara.
Ekses klaim adalah bagian dari sistem asuransi yang mengharuskan pemegang polis membayar selisih biaya jika total klaim melebihi batas pertanggungan. Hal ini bisa terjadi ketika mengajukan klaim asuransi swasta, baik pada asuransi kesehatan maupun asuransi kendaraan.
Amount payable in insurance is the amount paid by the insurance company to the policyholder or hospital when a claim is approved. In health insurance, this term relates to claims, deductibles, and benefit limits that determine the amount of coverage.
Underwriting is a process of identifying and selecting risks associated with a prospective insured who intends to insure an object or interest to be covered by an insurance company.
Underwriter refers to a professional within an insurance company responsible for evaluating the risks associated with prospective policyholders.
Third Party Sharing Agreement is an agreement stating that when two car drivers are involved in an accident that results in injury to a third party, the claim made by the third party will be jointly covered by the insurers who are members of the agreement.
Third Party Legal Liability is an insurance coverage that provides compensation to third parties for damages caused by the insured vehicle. TPL (Third Party Liability) insurance is a type of policy extension or rider that can be added to a customer's basic insurance policy.
SPPA (Insurance Application Form) is a written document submitted by the insured to the insurance company as part of the insurance application process. It is used by the insurer to evaluate the level of risk associated with the object of coverage.
Pre-existing condition refers to a health condition or illness that the policyholder had before applying for or purchasing an insurance policy. This condition often affects the eligibility or premium of the insurance.
Own Risk is a specific amount that must be borne by the insured for each incident or claim submitted to the insurance company.
PSAKBI stands for Polis Standar Asuransi Kendaraan Bermotor Indonesia (Standard Motor Vehicle Insurance Policy of Indonesia). In motor insurance, PSAKBI provides protection against risks such as collision, overturning, skidding or falling into a ditch, theft, malicious acts, or fire.
Personal Injury Protection is a type of insurance that provides coverage for the insured who suffers personal injury while driving. In addition, this insurance also offers compensation for additional expenses resulting from the accident, covering both the policyholder and passengers.
Personal accident is an insurance benefit that provides a sum insured in the event of an accident involving the driver or any passengers, covering physical injuries such as wounds, loss of limbs, or even death.
A supplemental insurance to the main insurance already held.
An act by a person who intentionally damages another person's property out of revenge, malice, anger, or vandalism—excluding acts committed by someone under the supervision or on the instructions of the Insured, or by someone who supervises or controls the property, or by thieves, robbers, or looters.
Commercial use refers to the use of a motor vehicle for rental or for receiving compensation. This means the vehicle is not used solely for personal purposes, but is instead used to provide transportation services or to conduct business activities for profit.
Exclusions are items or situations that are not covered under an insurance policy. An exclusion means that any claim related to it will not be compensated by the insurance company. Car insurance exclusions may vary depending on the insurer’s policy.
Insurer is the insurance party that holds formal authorization to conduct business activities related to assuming the risks of another party based on an insurance policy. In exchange for this risk coverage, the insurer receives a premium from the other party, known as the insured.
The insured is the party who receives protection or benefits from the insurance policy. If a covered risk occurs—such as an accident, illness, or asset damage—the insured has the right to file a claim and receive benefits according to the agreed terms.
The policyholder is responsible for obligations to the insurance company and is entitled to the benefits stated in the policy. The policyholder may or may not be the insured person, depending on the agreement outlined in the policy.
Ahli waris adalah individu atau entitas yang berhak menerima manfaat atau pembayaran dari polis asuransi setelah kematian tertanggung. Ahli waris ini biasanya ditunjuk oleh pemegang polis dan dapat berupa anggota keluarga, individu lain, atau organisasi yang disebutkan dalam kontrak asuransi. Mereka akan menerima klaim asuransi sesuai dengan ketentuan yang tercantum dalam polis.
Masa Pertanggungan adalah jangka waktu perlindungan asuransi bagi Tertanggung sejak tanggal berlakunya asuransi hingga tanggal pertanggungan berakhir sebagaimana disebutkan dalam polis.
Insurance benefits refer to the protection or coverage provided by the insurance company to the insured against losses, various risks of damage, and the resulting costs. These benefits can be received by the insured after paying the premium and submitting a claim for the driving-related risks covered in the insurance policy.
Loading fee is an increase in the premium charged to the insured for a specific period, for example, two years after the insurance policy becomes active.
A premium holiday in insurance is a period during which the policyholder is allowed to temporarily stop paying premiums without losing benefits or canceling their insurance policy.
Nilai tunai dalam asuransi adalah jumlah uang yang tersedia untuk pemegang polis jika mereka memutuskan untuk menghentikan polis sebelum jatuh tempo. Nilai ini mencerminkan akumulasi dari sebagian premi yang dibayarkan, setelah dikurangi biaya tertentu.
Lapse refers to the termination of insurance coverage due to non-payment of premiums and policy-related fees that are past due. If the premium remains unpaid by the specified deadline, a grace period will be applied.
Waiting period is the amount of time a policyholder must wait before being eligible to file an insurance claim.
Klausul 41B adalah pemberian ganti rugi kepada Tertanggung atas kerusakan kendaraan akibat tertentu dari kerusuhan, huru-hara, terorisme, dan lain sebagainya.
Insurance clause refers to the contents of an insurance policy that outline the scope of coverage, benefit limitations, and other conditions that must be followed by both the policyholder and the insurance company.
Acquisition Cost refers to the fee that must be paid by the Policyholder to receive services as an Insurance customer. In addition to "acquisition cost," this fee is also commonly referred to as a policy issuance fee. The policy issuance fee typically includes the insurance agent's commission and the operational costs of the Insurance company.
A claim is a request submitted by the Insured or the policyholder to the insurance company as the insurer to fulfill the policyholder's rights as stated in the policy.
Indemnity is a principle in insurance that ensures the party who suffers a loss will receive compensation equal to the value of that loss, without obtaining additional profit.
The actual value is the value of the insured motor vehicle with the same brand, type, model, and year as stated in the policy before the occurrence of loss and/or damage.
Sum insured (often abbreviated as UP in Indonesian) refers to the amount of money agreed upon between the policyholder and the insurance company when the insurance is first purchased. This term is not limited to life insurance—it also applies to other types of insurance, such as motor vehicle insurance, accident insurance, and property insurance.
A designated period during which an insurance policy remains valid until the due date for unpaid premium payments expires. If the grace period ends and the insured has not made the payment, the insurance policy may be canceled.
Endorsement is an insurance agreement that has been created and issued by the second party with the approval of the first party to replace or modify the content of the insurance policy.
Car towing is one of the benefits of vehicle insurance that covers the full cost of towing or transporting the vehicle using a special truck. In general, towing is used when certain issues occur that require the vehicle to be transported by truck. This service can be accessed by the Insured when the vehicle is no longer drivable.
Collision coverage is a type of auto insurance benefit that specifically provides compensation for damages caused by a collision. This insurance also covers repair costs and compensation based on the value of the vehicle owned by the Insured.
Natural disaster risk is an additional benefit in car insurance products that provides compensation for damages caused by geological events such as earthquakes, volcanic eruptions, whirlwinds, storms, typhoons, landslides, and floods. This coverage is included as a type of extended protection or rider.
An insurance premium is the cost paid by the policyholder to the insurance company in return for the protection provided.
Insurance policy is an agreement of insurance coverage that is consensual (involving mutual agreement) and must be made in writing in a deed between the parties entering into the agreement. The written deed is referred to as a "policy" or, in Islamic insurance, an "akad." The insurance policy outlines the rights and obligations of both parties, the amount of premium, and the extent of claims to be compensated if a risk occurs.
Premium adjustment is the right of the insurance company to change the premium rate charged to a specific Insured. Example is during the renewal of a car insurance contract after one year or when the insurance coverage period ends.