DBS-Manulife Survey reveals gap between the aspirations and preparation of Indonesian respondents when it comes to protecting their futures | Bahasa
Indonesia, 18 Oct 2022 - Indonesians have a strong aspiration to buy insurance to safeguard their future, however many are hesitating to make purchasing decisions, according to the DBS Manulife Future Ready Survey 2022 commissioned by DBS Treasures and Manulife on the affluent segment. The survey revealed that 61% of Indonesian respondents want insurance to protect them when they are old, however many have not yet taken the necessary steps to prepare.
DBS Treasures offers Indonesian customers Smart Insights. These Smart Insights give personalized information about protection plans that are directly related to a customer’s future hopes, shared through their preferred communications channel. For example, these information can include an overview of the cost of critical illness care, the cost of educating children abroad in the next 5 years, and information on legacy solutions that provide peace of mind.
In addition, customers can participate in a series of Smart Talk events with leading local and global speakers with topics and issues tailored to trends and customer needs. One of them is a series of "More Future Ready, Less Worry" events in August 2022, related to legacy planning covering inheritance law and tax in Jakarta, Medan, Bandung, and Surabaya. Previously, an online event had also been held inviting doctors and health experts related to autoimmune diseases, mental wellness, and others.
“Based on the survey, it is clear that there is a strong desire for better protection, but there is also a gap in actioning on that desire,” said Amy Gochuico, Chief Bancassurance Officer of PT Asuransi Jiwa Manulife Indonesia. “At Manulife, we want to help by making decisions easier and lives better for our customers. That’s why, through our partnership with DBS, we continue to innovate our insurance solutions to the evolving needs of our customers.”
Together, DBS Treasures and Manulife Indonesia offer a variety of solutions for customers and their families to help protect them at every moment of their lives through effective, efficient, and trusted financial planning measures.
This includes the comprehensive line of bancassurance products, such as education and retirement products like MiTreasure Future Smart Assurance and MiTreasure Future Lifesaver, life insurance MiTreasure Whole Life Legacy and legacy unit-linked products MiTreasure Optimax Protection and MiWealth Optimax, as well as health insurance products MiUltimate Health Care and MiEarly Critical Protection for critical illness insurance. Additionally, customers can personalize their protection through add-on insurance based on the individual lives and experiences.
For more information on these products, contact DBS Treasures or visit Bank DBS Indonesia’s branch offices.
- Health protection: 63% are concerned about increasing medical costs in the next 30 years, but only 37% have insurance covering medical expenses. Even with critical illnesses that can hinder or stop the sufferer's work, 72% expect their partner to take care of them financially if unable to work.
- Education fund: Three-in-four (75%) Indonesians seek to save funds for their children’s education, however only 67% feel they have prepared sufficient finances.
- Retirement: While 75% of respondents noted they have plans to save for their future, in reality, only 34% noted having insurance with an annuity plan or Annual Cash Benefit, to be leveraged for retirement plans.
- Legacy planning: The same survey states that 78% of respondents who are parents plan to leave their legacy, but only 64% of them already have life insurance as part of the legacy plan.
DBS Treasures offers Indonesian customers Smart Insights. These Smart Insights give personalized information about protection plans that are directly related to a customer’s future hopes, shared through their preferred communications channel. For example, these information can include an overview of the cost of critical illness care, the cost of educating children abroad in the next 5 years, and information on legacy solutions that provide peace of mind.
In addition, customers can participate in a series of Smart Talk events with leading local and global speakers with topics and issues tailored to trends and customer needs. One of them is a series of "More Future Ready, Less Worry" events in August 2022, related to legacy planning covering inheritance law and tax in Jakarta, Medan, Bandung, and Surabaya. Previously, an online event had also been held inviting doctors and health experts related to autoimmune diseases, mental wellness, and others.
“Based on the survey, it is clear that there is a strong desire for better protection, but there is also a gap in actioning on that desire,” said Amy Gochuico, Chief Bancassurance Officer of PT Asuransi Jiwa Manulife Indonesia. “At Manulife, we want to help by making decisions easier and lives better for our customers. That’s why, through our partnership with DBS, we continue to innovate our insurance solutions to the evolving needs of our customers.”
Together, DBS Treasures and Manulife Indonesia offer a variety of solutions for customers and their families to help protect them at every moment of their lives through effective, efficient, and trusted financial planning measures.
This includes the comprehensive line of bancassurance products, such as education and retirement products like MiTreasure Future Smart Assurance and MiTreasure Future Lifesaver, life insurance MiTreasure Whole Life Legacy and legacy unit-linked products MiTreasure Optimax Protection and MiWealth Optimax, as well as health insurance products MiUltimate Health Care and MiEarly Critical Protection for critical illness insurance. Additionally, customers can personalize their protection through add-on insurance based on the individual lives and experiences.
For more information on these products, contact DBS Treasures or visit Bank DBS Indonesia’s branch offices.
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