Manulife Indonesia and Bank DBS Indonesia launch MiTreasure Whole Life Legacy, offering whole life coverage | Bahasa

Indonesia, 19 Jul 2022 - Manulife Indonesia and Bank DBS Indonesia today announced the launch of MiTreasure Whole Life Legacy (MiWILL), a life protection product that aims to provide customers with peace of mind when planning their legacies and preparing for the future for themselves and their loved ones. 

MiTreasure Whole Life Legacy provides*:

1. Whole life protection for the insured up to 99 years old
2. Fixed basic premium throughout the premium payment period
3. Death benefit of 100% of Insured Amount
4. Cash Benefit of 20% of Insured Amount if the Insured survives and has reached 70 years old
5. Benefit at the end of Insurance Term of 100% of Insured Amount, and
6. Choice of MiTreasure Critical Cover as Rider with the benefit of Insured Amount in the event the Insured is diagnosed with one of 56 Critical Illnesses
   *Depending on Policy Provisions

“Our continued collaboration with Manulife Indonesia is part of Bank DBS Indonesia’s commitment to being the partner that provides comprehensive and flexible financial services. This product complements our bancassurance lineup that answers the needs of Bank DBS Indonesia customers in preparing for their financial future,” said Paulus Sutisna, President Director of PT Bank DBS Indonesia.

“Through our 2022 Manulife Asia Care Survey, we’ve seen that 76% of Indonesian respondents plan to buy insurance for the next 12 months and life insurance is one of their top priorities. This is why, together with Bank DBS, we further strengthen our commitment to grow our life insurance product offerings with a goal of delivering decisions made easier and lives made better for our customers,” said Ryan Charland, President Director & CEO, Manulife Indonesia.

Data from the 2022 Manulife Asia Care Survey shows that Indonesia has the lowest level of insured individuals when compared with other markets across Asia. This is further supported by the fact that OJK data notes Indonesia has a low insurance penetration rate at 3.11%.^[1][1] This furthers the need to offer more products and service options to provide wider options that deliver protection and empower better physical and financial well-being for people throughout Indonesia.

Manulife Indonesia and Bank DBS Indonesia designed the MiTreasure Whole Life Legacy (MiWILL) as whole life insurance that offers flexibility and the advantage of giving policyholders the choice of adjusting coverage to align with where they are in life and letting policyholders take control. MiWILL is also equipped with whole-life benefits that provide coverage up to 99 years old for the insured, ensuring comprehensive protection against various risks in the future.

With its wealth of benefits, this product meets the policyholder’s needs today to anticipate life risks and help prepare a legacy for themselves and their loved ones. It also complements the range of solutions through the Bank DBS and Manulife strategic partnership. For more information on this product, please visit the Bank DBS branches.

 

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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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.

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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit  www.dbs.com.

 

[1]^[1] Indonesia’s insurance penetration rate as of 2021 was 3.11%, according to Financial Services Authority (OJK) data