News Release

Chubb Life launches New Product - ‘Premier Golden Age Protection’ to provide Healthy, Peaceful, Safe and Comfortable Pension Days
Jul 14, 2022

Jakarta, 28 June, 2022 – As people get older, they are more susceptible to illness and health problems. The Indonesia Central Bureau of Statistics (BPS) noted the life expectancy of the elderly in Indonesia has increased to 72 years old.[1] It is this elderly group which has a higher risk of illness and the population is predicted to rise at an average of 3.4% each year. This situation has caused the increased need for health protection and comfort during the ‘golden age’.

Unfortunately, this is in contrast to the fact that most health and life insurance coverage lapses/ends when the customer retires, which is the age at which they really need protection.

To answer those needs, PT Chubb Life Insurance Indonesia (Chubb Life Indonesia) has launched Premier Golden Age Protection a life protection product that protects customers up to the age of 100.

“Chubb Life Indonesia consistently continues to innovate by presenting new products that address market challenges and meet customer needs. Through Premier Golden Age Protection Products, Chubb Life Indonesia is committed to helping our customers get the protection that is right for them as they enter the golden age," said Kumaran Chinan, President Director of Chubb Life Indonesia.

Reguel Pakpahan, Chief Sales Officer, Chubb Life Indonesia, added, “The Premier Golden Age Protection provides the customer's family with the guarantee of having some protection from financial risk if the customer passes away. The protection, which lasts up to 100 years of age, provides peace of mind to customers, allowing them to be more comfortable and enjoy their old age.”

Three reasons why Premier Golden Age Protection from Chubb Life Indonesia is necessary:

Sum Assured as Legacy for beloved one

This life insurance is an asset for people to plan for their legacy.   If the Insured passes away, a Death Benefit of 100% of the Sum Insured will be given to the nominated beneficiary. Therefore, customers do not have to worry they will leave their family with financial difficulties when they pass away. This guaranteed benefit justifies the premium cost and protects until the customer is 100 years old.

Flexible Premium to Match Needs

Premier Golden Age Protection has flexible premium payment options built in. Customers have the option of a single Premium Payment – ‘Premium Payment at Once’, or Regular Premiums that can be paid over a period of 3, 5, 10, 15, or 20 years with an optimal protection period until the Insured reaches 100 years old.

End of Insurance Benefit Guarantee

If the Insured is still alive and reaches the age of 100, then the end of coverage benefit will be approved 100%.

Customers can also add a waiver insurance rider which gives customers a peace of mind that they will be protected into their old age. “This is in line with our commitment to jointly provide a solid foundation for customers in every phase of life, including their golden age with the best protection solutions through the agency channel,” concluded Kristianto Joe, Head of Agency Chubb Life Indonesia.

This Premier Golden Age Protection product is available to people throughout Indonesia and can be accessed directly through sales agents, or Chubb Life Indonesia Customer Service.

To learn more about the product, visit chubb.com/GoldenAge.

 

[1] Indonesia Central Bureau of Statistics 2021. Senior Citizen Statistic 2021.