Sahabat Insurance collaborates with STMA Trisakti to implement Insurance Literacy.

Difference of insurance, savings, investment

What is the difference between insurance, savings and investment? Before we know the difference, it is better if we know the meaning first.

• According to the Big Indonesian Dictionary (KBBI), insurance is coverage, an agreement between two parties. Meanwhile, the definition of insurance is quoted from the Financial Services Authority (OJK), which is an agreement between an insurance company and a policy holder which is the basis for receiving premiums by insurance companies as compensation in the form of replacing or reducing losses.
• Meanwhile, the definition of savings as reported by the Financial Services Authority (OJK) is money deposits in banks whose withdrawals can only be made according to certain conditions. Generally, banks will provide a passbook that contains information on all the transactions you have made and an ATM card complete with a personal number (PIN). In its current development, there are several types of savings that no longer use passbooks but internet/mobile banking.
• Investment is investment, usually in the long term for the procurement of complete assets or the purchase of shares and other securities for profit.