The pros and cons of Islamic health insurance that need to be known

Among the many types of health insurance available, you must be familiar with the term sharia health insurance. Sharia insurance is often the choice of some people because it is considered to have a plus compared to non-sharia types of insurance. Even so, there are still many pros and cons that occur in the community regarding this one insurance. So, what are the pros and cons of Islamic health insurance that are still being discussed? The following is the review.

What is Islamic insurance?

Sharia insurance is a type of insurance by applying the business principle of mutual help (ta'awuni) and mutual protection (takafuli) between participants by forming a pool of funds (tabarru) which is managed according to sharia principles to deal with certain risks.

In sharia insurance, a system applies where participants will grant part or all of their investment funds if another participant experiences a disaster.

Thus, among participants in Islamic insurance, the principle is mutual and there is no transfer of risk from the participant to the company as in conventional insurance. Therefore, the role of the company is only as a trustee in managing and investing funds from the participants.

Pros and cons of Islamic health insurance

Source: Realtor News

Even though it carries the name sharia, the fact is that this one insurance still has pros and cons. Here are the pros and cons of Islamic health insurance.

Pro

The following are various things that are the superior values ​​of Islamic health insurance that are positive in the eyes of the community.

Usury free

Riba is the most common debate in every banking product, including insurance. However, in Islamic insurance in general, including health, this problem is no longer a problem. Sharia insurance is guaranteed to be free from usury. Therefore, you don't need to worry because the funds submitted to the company will be managed according to the agreement of both parties at the beginning of the agreement.

Transparent fund management

In general sharia insurance, including health, fund management is transparent. So that you as an insurance participant can clearly know the details of the funds you pay each month. In addition, these funds are also used as much as possible to bring benefits to the insurance policyholders themselves.

Has the principle of mutual cooperation

The syariah insurance work system is mutual assistance. This means that one participant and another can help each other with company intermediaries. For example, your insurance fund can be used first to help other customer claims. So that participants can give grants to other participants who are stricken by a disaster.

Claims and services that make it easy

In sharia health insurance, participants can take advantage of the protection of inpatient costs at the hospital for all family members. For financing, a system using a card (cashless) to pay all the hospital bills.

One insurance policy can be used for all family members so that the premium costs are lower. This is different from ordinary insurance which requires everyone to have their respective policies so that the premiums charged will be much greater.

In addition, Islamic insurance also allows you to be able to do this double claim. This means that you will still get a claim even though you have obtained it through other insurance.

Fair

One of the principles of Islamic insurance which is also an advantage is fairness. In Islamic insurance no one is allowed to be harmed. Therefore, the profit sharing in this insurance is fairer. Neither party received a greater amount of profit than the other party.

Counter

Not everyone agrees with Islamic health insurance. Some others are still debating it. However, the superior value and positives of Islamic health insurance still outnumber the negatives. The weakness of Islamic health insurance that is still being debated is that there are still those who consider this insurance haram. In fact, sharia insurance is under the supervision of the Sharia Supervisory Board (DPS) which ensures that all institutions carry out procedures with proper sharia principles and are certainly free from haram practices.

Apart from the pros and cons that occur in the community regarding Islamic health insurance, the most important thing is to clearly find out in advance about the insurance that will be made and registered. Find out the advantages and disadvantages of each type of insurance to minimize risks and regrets in the future. for choosing the wrong insurance.