7 Best Life Insurance Product Recommendations in Indonesia You Need To Know

Choosing life insurance may be a long journey because there are many things that you have to consider carefully. These considerations include the cost of life insurance, products and types of life insurance, and insurance provider companies.

Insurance companies compete in attracting potential customers by offering a variety of life insurance products and attractive protection benefits. If you take a wrong step, then you will easily be tempted by seduction which in the end can be detrimental financially. Therefore, do not rush and get carried away with lust.

Compare several similar life insurance products from various insurance companies and find out what the benefits, advantages, and disadvantages are. That way, you can weigh which product is more in line with your expectations.

If you are still confused about making a choice, there are some recommendations for the best life insurance products in Indonesia. Anything? Here is the full description!

1. AXA Mandiri

Nowadays, it seems that more and more people are aware of the existence of AXA Mandiri in the Indonesian insurance industry. If you are looking for life insurance, health insurance , or other insurance, you can consider this one insurance company.

By choosing AXA Mandiri, individuals have the opportunity to find life protection solutions according to their needs. Even though it sounds classic, there’s nothing wrong with looking for information on which life insurance products can answer all your doubts in choosing life insurance.

This life insurance provider offers a wide selection of products with varying benefits and advantages. That way, you can convince yourself whether the particular product offered is indeed what you are looking for or not.

PT AXA Mandiri Financial Service or more commonly known as AXA Mandiri is a joint life insurance company between PT Bank Mandiri Persero and AXA Group. Every AXA Mandiri life insurance customer has the same rights to enjoy various advantages, including:

  • Compensation protection that is complete and comprehensive
  • Long coverage age is up to 100 years
  • Various product choices with various benefits
  • Opportunity to get a return on investment
  • Easy premium payments
  • There are financial advisor services that help provide detailed information about the insurance you want to buy
  • Insurance claims that are not only easy but also fast according to company procedures
  • AXA Mandiri call center services

2. Cigna

Are you considering life insurance that offers the best protection benefits but at affordable life insurance costs? You might be able to put Cigna on your list of choices for the right life insurance provider.

PT Asuransi Cigna or Cigna Indonesia is registered and supervised by the OJK or the Financial Services Authority so that it can reduce your worries about fake insurance, fraud, and so on. This company has existed since 1990 as a subsidiary of Cigna Corporation.

As an insurance company that is widely known by the people of Indonesia, Cigna will always devote itself to improving welfare, including by providing life protection. This is also proven by the existence of various life insurance products that you can buy with prices starting from just a few tens of thousands per month.

The advantages of Cigna life insurance are as follows:

  • Affordable life insurance premiums or fees starting from tens of thousands per month
  • Offers a wide selection of products and types of policies to suit different needs
  • The insurance claim process is fast and easy
  • Providing call center services for participants and prospective insurance participants
  • Death compensation of up to IDR 20 billion
  • Up to 160% premium return on select products

3. Manulife

The benefits of life insurance cannot be felt instantly when we have an insurance policy. However, when there is another risk of death covered by insurance providers, you may just realize how important self-protection is. For these needs, another recommendation that you can consider as the best life insurance provider is Manulife.

Manulife Indonesia or PT Asuransi Jiwa Manulife Indonesia is part of Manulife Financial Corporation, a group of companies providing financial services from Canada. This group of companies does not only operate in Canada and the United States but also in Asia. While Manulife Indonesia itself was founded in 1985 and has been providing life protection solutions for decades.

Life insurance from Manulife can be a sign of love for the family. As the head of the family who is the only source of income, you certainly think about what life will be like in the future after you are gone. So that families can continue to live their lives even if they lose their source of income, life insurance can be the right solution besides savings or savings.

By choosing life insurance from Manulife, prospective insurance participants have the option to purchase whole life insurance or term life insurance. Thus, they can adjust life insurance products with the aim of buying life insurance.

Like other leading insurance providers, Manulife comes with various advantages, including:

  • Credible and trusted insurance company because it has a high level of solvency
  • Provide sum assured and also additional cash value for life insurance participants whose contract period has expired
  • Insurance options that can be tailored to your needs and desires

4. Prudential

Who doesn’t know Prudential? Even when you hear the name, you immediately think of insurance because these two things are really embedded in people’s memories. Prudential is one of the insurance companies that offers life insurance products. In fact, we can easily find Prudential branch offices and agents in many cities, so it’s not difficult to register as an insurance participant.

Talking about life insurance means that you are preparing the best protection not only for yourself but for your beloved family . To make this happen, there are various Prudential life insurance products that you can adjust to your needs and ability to pay premiums until the contract period expires.

PT Prudential Life Assurance or Prudential Indonesia was founded in 1995. This company is part of Prudential plc, a group of leading financial companies in the UK. With long experience in the field, Prudential is able to understand that each individual’s need for soul protection is different.

Before buying a life insurance product from Prudential, you might be interested to know the advantages of this company compared to other insurance providers. The advantages that you can feel when you become an insurance participant are as follows:

  • Offers affordable premiums that can be adjusted to the financial capabilities of prospective insurance participants
  • Investment funds are managed in a more measurable and professional manner so that there is minimal risk of loss
  • Many additional products that can be selected as needed
  • Offices and agents are spread across various regions in Indonesia
  • Offering sharia life insurance products for those who are hesitant to buy conventional life insurance

5. Simas Jiwa

Not familiar with Simas Jiwa? Now you can start looking for information about these insurance providers, especially when you want to get the best life insurance options. Simas Jiwa is one of the recommendations for getting a life insurance product that can understand the different needs and desires of each insurance participant.

PT Asuransi Simas Jiwa was founded in 1995, precisely on December 18. However, this company started its business activities under the name PT Simas Jiwa Mentari Mulia Sejahtera. In 2003, the company changed its name to PT Asuransi Jiwa Mega Life with shares held by Sinar Mas and Mega Corp.

Then, on October 6 2015, PT Asuransi Simas Jiwa has survived to the present day after nearly 100 percent of its shares are owned by PT Asuransi Sinarmas while the remainder belongs to PT Sinarmas Multiartha Tbk. Like a leading insurance provider in general, this company is also registered and supervised by the OJK.

You can find various life insurance options easily even through the official website. This proves that Simas Jiwa is always serious about providing the best service to every customer even though they have varying needs and desires.

In addition to offering a large selection of products for individuals who are looking for life insurance, Simas Jiwa also has many advantages, including:

  • Have the ability to pay high life insurance claims
  • The solvency ratio reaches above 1000 percent and is automatically higher than the standard set by OJK
  • Offers guaranteed high investment returns within a certain period of time
  • Payment of insurance premiums fairly quickly and briefly

6. AIA

The Asia Pacific market is AIA Financial’s special target, so it is only natural that we can find various life insurance products from this one insurance company in Indonesia. AIA life insurance protection allows you and your beloved family to continue to pursue your dreams even when you are no longer with them.

Although death can separate individuals from loved ones, they can still make loved ones smile. Yes, all of this is very possible to do if you have prepared protection through certain types of life insurance.

AIA has decades of experience in providing the best protection solutions for its customers. That’s why you can easily find information about this one insurance company. AIA Indonesia is not only a well-known insurance company in various circles but also registered and supervised by the Financial Services Authority or OJK. With so many insurance products offered, prospective customers can even choose sharia-based insurance.

Are you curious about what advantages AIA can provide in the midst of intense competition in the insurance industry?

  • AIA has strong finances so it can guarantee that the money you pay for life insurance premiums will be safe
  • The level of solvency is higher than the existing standards
  • Insurance claims are fast and easy
  • Various premium products and choices at affordable prices making it suitable for various groups with varied backgrounds
  • Offers sharia-based insurance products

7. Allianz

The last recommendation for those of you who want to get protection benefits but with low life insurance costs is life insurance from Allianz.

To be more confident about buying products from Allianz when you want to get optimal protection through life insurance, here are some of the advantages of Allianz life insurance that you can consider.

Curious about the origin of Allianz life insurance? PT Allianz Life Indonesia is a company formed in 1996 separately from its parent company, PT Allianz Utama Indonesia. As the name implies, Allianz life Indonesia provides the best solution for those who need life insurance and want to get a series of insurance benefits, especially when they have to leave their loved ones.

In fact, Allianz does not only handle life insurance, but also health insurance and pension funds. This is of course good news because you can simultaneously benefit from all three types of insurance from a trusted insurance provider. That way, the search for the right insurance product will no longer take a long time. So, you are getting faster and closer to insurance benefits according to the type of insurance and product you choose, right?

What’s interesting about this life insurance company is that its assets of more than IDR 10 trillion have made it into the ranks of Top Life Insurance and recognized by BusinessNews Indonesia in 2018. This seems to provide fresh air and calm to those who decide to become Allianz life insurance participants.

  • Cheap and affordable premiums with no additional fees
  • Insurance is not bound for a long period of time
  • Offers a fast claim process so that insurance can be disbursed immediately without complicated requirements
  • The sum insured for each protection benefit is fixed

Life insurance does provide undoubted benefits, but there is a responsibility behind these benefits. So that you don’t regret later when you have to start paying insurance premiums until the contract is completed, make sure you have carefully considered the cost of life insurance that you have to pay.

Do you know which life insurance product to buy? Or maybe you are still confused because there are many life insurance products that offer similar benefits? In order to get the best solution, you can contact Qoala right now. So that you can more quickly make choices that allow you to feel the expected benefits of life insurance more quickly.

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