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Millennial Generation, Choose Life Insurance or Health Insurance? Which is the Best?

Choosing insurance is indeed quite confusing considering there are many types of insurance with various benefits to choose from. Some people are confused about choosing between life insurance or health insurance.
Although both are very useful and have a positive value, you should first identify the two types of insurance. Both also have differences in the system, premiums, benefits to future prospects.
Well, before you decide which insurance premium to pay, first identify the following types of life and health insurance.

1. Health insurance
If life insurance provides compensation and protection for financial losses due to death in the world or note, health insurance will protect you from financial losses from the risk of illness. Health insurance can be used to bear the financial burden of hospitalization, dental care, pregnancy and other health risks. Some insurance also replace the costs of hospitalization, outpatient care and / or cash reimbursement.

2. Life insurance
Surely you really hear about life insurance. But what is life insurance exactly? Own life insurance, insurance that provides protection for financial losses resulting from death, permanent disability or total record.
This life insurance has many benefits, especially the insurance money provided can be directly used to pay for life's needs or given to other family members who receive the insurance coverage money.

Then which one is better?
After knowing the difference between life insurance and health insurance, which insurance is more suitable for millennials? As young people who are still alone aka not married, of course both are equally important.
Death is one of the mysteries in life and no one can guess when that time will arrive. Therefore, life insurance will help cover the costs of the disease suffered before dying and / or finance all the funeral processes and also provide inheritance or inheritance for the family left behind.
Similarly, health insurance is no less important. Everyone can have the potential for sudden illness or illness due to chronic symptoms. By having health insurance, you don't have to bother looking for medical expenses. Because, all costs will be covered by health insurance that is followed. This insurance is useful to ease the burden of hospital fees and relatively expensive medicines.
If you consider both important, then prepare funds to pay for both premiums. But, if it feels too burdensome, it is better to choose one of them by paying attention to the following points.

1. Prepare an emergency fund
If you don't have an emergency fund, you better prioritize your income for saving emergency funds. By having an emergency fund you can more easily think about whether you need health insurance or just life insurance.
Actually, emergency funds can also be used as medical expenses when you are sick. Therefore, the existence of an emergency fund will influence your decision in choosing the type of insurance.

2. Guarantees for families
If you have a wife or children, life insurance is the right choice. By registering life insurance, you mean that you have prepared your family's financial needs if something bad happens to you.
Well, now I am not confused anymore, choosing to pay for life insurance or health insurance. Whatever the choice, consider well and according to your needs, yes!

3. Having a fund plan for insurance premiums
Before choosing the type of insurance you need to know the budget to pay for the insurance premium. Your income will not only be focused on insurance, right? You need for other expenses or for savings and also long-term investments.

Insurance premiums have different values ​​depending on the insurance coverage. Usually, insurance premiums are more expensive than life insurance. Well, before choosing better, determine the budget for the insurance payment first.

4. Consider a medical history
Health history is also one of the important things that influence the decision to choose insurance. If you do have a history of illness within these five years, then you really need to register for health insurance. By having health insurance, you will not be confused if you have to go back and forth to the hospital for treatment at any time. But if you are rarely sick, it is more suitable if you just choose life insurance.

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