Life insurance is different from health insurance. Life insurance serves as a financial solution for the bereaved family.
Based on the 2023 Indonesia Top Insurance Awards from The Iconomics, there are several categories of the best life insurance companies in Indonesia.
Namely, life insurance with assets of IDR 1 trillion-IDR 5 trillion, assets of IDR 10 trillion-IDR 25 trillion, assets of IDR 25 trillion-IDR 40 trillion, to life insurance with assets> IDR 40 trillion.
The following is a list of the best life insurance companies recommended by various media and information sources:
1. Panin Dai-ichi Life
Panin Life is one of the leading life insurance companies that has served the Indonesian people for more than 40 years.
Dai-ichi Life is one of the largest life insurance companies in Japan. This company has more than 110 years of experience in the life insurance industry with an international business network in various countries in the world.
Panin Dai-ichi Life offers various superior products, both for conventional and sharia insurance.
The products available include Panin Life Care, Panin Lifevestlinked, Premier Multilinked Assurance, Premier Maxilinked Assurance, Preferred Life, SIGAP, and Bekal Proteksi Pandai.
2. Generali Indonesia
PT Asuransi Jiwa Generali Indonesia is part of the Generali Group, a company founded in 1831 in Trieste, Italy.
Generali life insurance is often the best unit link option that you should consider. This is because Generali has the advantage of its technology in managing investments, RoboARMS (Auto Risks Management System).
RoboARMS is an automated investment risk management system based on Artificial Intelligence (AI). One of Generali’s flagship insurance policies is iPLAN, which offers coverage of up to IDR 3 billion.
In addition, the additional insurance available also varies, from critical illness coverage to premium exemption.
3. Great Eastern Life Indonesia
Next, there is Great Eastern, which is also one of the recommendations for the best life insurance companies in Indonesia. Established in 1908, Great Eastern Life Indonesia is the oldest and largest life insurance group in Singapore and Malaysia.
Great Eastern has three successful distribution channels, namely agency distribution channels, bancassurance, and financial advisory services companies.
For more than 100 years, Great Eastern has been one of the leading players in the insurance industry in Asia.
With a trusted name, Great Eastern continues to strengthen its position by providing financial security and peace of mind for millions of customers.
In addition to Singapore and Malaysia, Great Eastern also operates in Indonesia and Brunei Darussalam and has representative offices in China and Myanmar.
4. BRI Life
PT Bank Rakyat Indonesia (BRI) manages an insurance company, namely BRI Life, by providing the most complete insurance products for the Indonesian people.
There are various insurance policies with affordable premium prices. Starting from health insurance, life insurance, unit links, employee insurance, and others.
In addition, BRI Life products are divided into several policy options that you can adjust to your profile.
5. Sinarmas MSIG
Then, there is PT Asuransi Jiwa Sinarmas MSIG Tbk which manages Sinarmas MSIG Life insurance.
This company offers life insurance policies, health insurance, to sharia insurance. One of its superior policies is life insurance. Sinarmas MSIG Life is a life insurance company that has been experienced since 1985.
Initially, Sinarmas MSIG Life had the name PT Asuransi Jiwa Purnamala Internasional. However, in 1989 they changed their name to PT Asuransi Jiwa Eka Life and became PT Asuransi Jiwa Sinarmas since 2007.
In addition to offering personal and group life insurance, this insurance company also manages pension funds. Not only that, the company has also patented their name to Sinarmas MSIG Life or SMiLe.
6. Cigna
PT Asuransi Cigna (Cigna Indonesia) is a life insurance company registered and supervised by the Financial Services Authority (OJK).
Asuransi Cigna Indonesia has three leading products, namely Cigna Premium Health Protection, Cigna Family Care Optima, and Cigna Proteksi Sehat Optima.
Cigna Family Eazilife is one of Cigna’s flagship products. Because this product can cover seven family members in one policy with a premium refund at the end of the insurance period.
In addition, customers can also get insurance money of up to IDR 500 million with a protection period of 10 years. In fact, this policy from Cigna also covers the risk of critical illness.
7. Sequis Life
If you are looking for micro life insurance, then you can consider the Sequis Sejahtera Micro Insurance policy.
This micro insurance from Sequis Life offers death insurance benefits and surgical cost coverage at the same time.
The advantages of micro insurance in its premiums are also quite friendly. Therefore, this type of micro insurance is very suitable for prospective customers who have a limited budget.
8. Indolife Pensiontama
Indolife Pensiontama is one of the best life insurance companies in Indonesia. Under the auspices of the Salim Group, this company offers a variety of life insurance products for individual, group, and DPLK customers.
This company has attracted quite a lot of public interest, especially in the Financial Institution Pension Fund (DPLK) product.
The reason is, this product provides pension fund benefits of up to IDR 100 million and investment value with monthly contributions starting from IDR 100 thousand.