Bank DBS Indonesia and Manulife Indonesia launch a financial solution that sustains customers’ lifestyle in the future | Bahasa
The partnership brings an insurance and investment product MiTreasure Flexi Assurance (MiFA)
“MiFA launch is a testament to the commitment of Bank DBS Indonesia to ceaselessly provide services and address customers’ needs, especially our priority customers who have trusted us to carry out their asset management. We are confident that this partnership with Manulife will elevate our customers’ comfort and peace of mind as they work toward their financial goals,” said President Director of Bank DBS Indonesia Paulus Sutisna.
Ryan Charland, President Director and CEO Manulife Indonesia added that, “We understand that customers need protection solutions that are more diverse. MiFa is a comprehensive solution that allows customers to optimize fund growth through investment, meet their long-term needs, and on top of that protect Indonesian families. This is the financial solution for those who know the importance of financial planning, of anticipating market movement, and of protecting themselves and their families from the multitude of risks in the future.”
As customers need to sustain their current lifestyle in the future and upon entering their golden period, it is likely that there will be challenges that shift or even lessen the value of their financial assets. The reason may be market volatility or global financial dynamics, which could prompt customers to trim their lifestyle to ensure that their essential needs are covered. Unfortunately, more often than not, those challenges are not met with a reliable financial plan. According to Manulife Investment Sentiment Index (MISI) XI, investors allocate less than 20% of their savings for their golden period and only 10% of investors that rely on insurance to prepare for retirement or their golden days later in life. While insurance is an option for them to bolster their financial condition after they are no longer productive, the number of investors who have made insurance as their financial choice remains low.
Considering the low needs for insurance as the financial instrument for non-productive days, MiFA is launched as the solution. This product is designed to protect a customer’s financial assets and can be continued by the next generations. MiTreasure Flexi Assurance is a life insurance product with extensive benefits and provides lifelong protection until 110 years of age, complemented with investment feature and a wide variety of riders (additional insurance) to complement customer’s need. Its long-term protection affords the customers enough room to be well-prepared for their future and to prepare the financial legacy for the next generations, sustaining the same lifestyle as the customers’ productive years. In addition, this product allocates 50% of funds for investment during the first year and 100% investment from the second to the tenth year, and 102% investment starting from the eleventh year of policy. Customer will receive loyalty benefits up to 200% of the annual basic premium at the end of the fifth-year policy according to the terms and conditions of the product. At the end of a contract, customer will receive the accumulated policy value that they can utilize as their financial asset.
Bank DBS Indonesia and Manulife has been partnering in 2016 and together have launched various products from unit link, life insurance, to health insurance. MiTreasure Flexi Assurance will be available through the bancassurance channel of Bank DBS Indonesia.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 28,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
