The form and content of the insurance agreement Insurance or coverage is a reciprocal agreement, in the sense of an agreement, in which both parties each have a valued obligation, where the responsible party has the obligation to pay premiums, the amount of which is determined by the insurer, while the insurer has an obligation to compensate suffered by the insured. According to the provisions of article 255 KUHD it is determined that all insurance or coverage must be formed in writing with a fact called a policy. Insurance policy is the contents of the insurance agreement. In article 256 KUHD it is determined that the contents of the policy for insurance or insurance in general unless life insurance must contain: 1. Day of forming insurance 2. The name of the person who as the insured agrees to form insurance, which is at his own expense or at the expense of another person. 3. The mention of the things or objects that are guaranteed is quite bright. 4. Amount of money, for which h...
Insurance Losses, Life Insurance: Definition and Explanation In its development, many types of insurance that are not found in KUHD can be found in insurance practices. According to H. Gunanto, insurance is classified as: 1. Loss insurance Consists of insurance for property (property), financial interests (Pecuniary), legal responsibility (liability) and self insurance (accident or health) 2. Life insurance Which concerns the problem of the death of the insured in the insurance period or staying alive until the end of the insurance period. Providing money at the time of death of the insured for burial fees and for continuing income for his heirs. According to whether or not it was determined first, the amount of money to be paid for insurance can be divided into: 1. Loss insurance is to replace losses incurred, the amount of which is not previously determined. 2. Insurance A sum of money is to pay an amount of money whose amount has been determined from the beginning. This appl...