Manulife Indonesia and Bank DBS Indonesia launch MiEarly Critical Protection for early- to advanced-stage critical illness protection | Bahasa
“Aside from having to cope with uncertainties caused by the COVID-19 pandemic, people also face the ongoing risk of critical illness. Bank DBS Indonesia is committed to providing the best services through product innovation and wants to ensure that its customers can enjoy a quality life despite the risks around us. Driven by this commitment, Bank DBS Indonesia and Manulife Indonesia have designed a solution for critical illness coverage, with 20-year protection,” said Paulus Sutisna, President Director of PT Bank DBS Indonesia.
“In line with Bank DBS Indonesia’s commitment to its customers, we understand customers’ need for health insurance, especially for protection against critical illnesses and high treatment costs. For that reason, we launched MiEarly Critical Protection to provide protection from the early to advanced stages of critical illnesses, including intensive care. Therefore, the patient can focus on getting better and enjoy peace of mind during the recovery process,” said Ryan Charland, President Director & CEO Manulife Indonesia.
According to Indonesia’s own 2018 Basic Health Research, the prevalence of cardiovascular disease increases every year. At least 15 out of every 1000 people, or around 2,800,000 Indonesians, are affected each year. Heart disease, kidney failure, cancer and strokes make up the top four catastrophic diseases in terms of treatment cost.
In the past five years, the number of critical illness claims received by Manulife has risen by more than 200%, up from Rp12.5 billion in 2015 to Rp25.5 billion in 2020. During the pandemic, demand for insurance has also risen considerably. The Manulife Asia Care Survey report, released in February 2021, showed that nearly three quarters (72%) of Indonesian respondents said they intended to purchase an additional policy in the following six months – slightly higher than the regional average (71%) – with critical illness protection high on the shopping list.
Given the substantial cost of treatment for critical illness, MiECP offers power a reset feature, which allows customers to reset their insured amount (per the applicable terms and conditions). To illustrate, the insured amount may be reset to 100% automatically if no claim is made within 12 months after either of the following claims, whichever occurs first:
- First claim for early-stage critical illness benefits; or
- ICU/HCU/ICCU/PICU care benefits
In the event of death, the beneficiaries will receive 100% of the total premium paid (exclusive of additional premium) throughout the insured period. Policyholders who survive until the end of their insured period, and with outstanding insured amount of MiEarly Critical Protection, will receive 100% of the total premium paid (exclusive of additional premium).
Other benefits provided by MiEarly Critical Protection include:
- Angioplasty Benefits
- Diabetes-linked Organ Failure Benefits
This wide range of benefits enables customers to enjoy financial peace of mind because they are protected from the risks related to critical illnesses and are therefore able to make every day better.
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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 13 consecutive years from 2009 to 2020.
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 SG50 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 of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
About Manulife Indonesia
Established in 1985, PT Asuransi Jiwa Manulife Indonesia (Manulife Indonesia) is part of Manulife Financial Corporation Group, a Canadian financial services group that operates in Asia, Canada and the United States. Manulife Indonesia offers a wide range of financial services, including life insurance, accident and health insurance, investment and pension plans to individual customers and group clients in Indonesia. Through a network of almost 11,000 employees and professional sales forces spread across 25 sales offices, Manulife Indonesia serves more than 2 million customers in Indonesia.
PT Asuransi Jiwa Manulife Indonesia is registered and supervised by the Otoritas Jasa Keuangan (OJK). To learn more about Manulife Indonesia, follow us on Facebook, Twitter, Instagram, YouTube, or visit www.manulife.co.id.
About Manulife
Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and our global wealth and asset management segment, Manulife Investment Management, serves individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of June 30, 2021, we had CAD$1.3 trillion (US$1.1 trillion) in assets under management and administration, and in the previous 12 months we made $31.3 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.