Sun Life Indonesia Introduces USD Cermat X-Tra Protection For Preparation For Study Abroad

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Sun Life Financial Indonesia (Sun Life Indonesia) and PT Bank CIMB Niaga Tbk (CIMB Niaga) through the bancassurance partnership expanded their flagship product offerings by launching X-Tra Protection Cermat USD, which is now available exclusively for CIMB Niaga customers.

This product offers dengue life protection with various benefits, including premium returns and maximum protection for 10 years, so that it can be used for long-term financial planning, one of which is child education abroad.

As awareness of the importance of global education increases, more and more Indonesian families choose to send their children abroad. Since 2014, the number of Indonesian students studying abroad has grown by 21 percent according to the UNESCO Institute for Statistics.

The main reason is the opportunity to get more varied educational subjects, experience living abroad, and expand social networks. This trend continues to grow, but the cost of foreign education which continues to increase by about 5-7 percent every year is becoming a challenge in itself.

In 2023, inflation will have a significant impact on study costs abroad in favorite countries for students from Indonesia, such as the United States, Britain, and Australia. Lecture fees in countries such as the United States can reach 20,000 US dollars to 60,000 US dollars per year, in the UK ranging from 11,000 to 38,000 per year, while in Australia ranging from 20,000 and 45,000 Australian dollars per year.

In addition, due to significant living expenses and being influenced by inflation ranging from $10.000'15.000 per year, parents need careful financial planning so that education funds can be managed optimally.

As a solution to the conditions above, Sun Life Indonesia and CIMB Niaga launched the USD Cermat X-Tra Protection Product. This product is expected to help parents plan their children's education funds abroad, as well as provide comprehensive insurance protection.

Danning Wikanti as Chief Distribution Officer & Sharia Director of Sun Life Indonesia stated that his party really understands the needs of customers who continue to develop, especially in terms of preparing children's education abroad.

"X-Tra Protection Cermat USD comes as a solution that provides comprehensive financial protection and flexibility for parents in planning the future of their children's education. Through our strategic collaboration with CIMB Niaga, we believe that this product will be a smart and right choice for customers who want to achieve their dream of global education with mature financial preparation," he said, in a written statement, Monday 9 December.

The X-Tra Protection Cermat USD offers a number of major advantages, ranging from a premium payment period of only 5 years with protection for up to 10 years, premium returns of up to 115 percent of the total premiums paid, benefits of dying with coverage money of up to 100 percent of the premium, or 110 percent of the policy relief value, which is larger, to the flexibility of monthly premium payments, quarterly, semester, or annual.

Ariteguh Arief as Head of Preferred, Wealth and Insurance Business CIMB Niaga stated, as a strategic partner of Sun Life Indonesia, is committed to providing comprehensive financial solutions for customers, one of which is through X-Tra Protection Cermat USD.

"With this product, customers can enjoy the benefits of life protection while preparing foreign education funds for their children. This is a real step in supporting our customers to plan for a better future, in accordance with the spirit of #WorkFromHeart to serve wholeheartedly and always prioritize customers' needs," he said.

By utilizing USD Cermat X-Tra Protection, customers can carefully plan their children's education funds abroad, while getting optimal insurance protection. For more information, please visit the official Sun Life Indonesia website at sunlife.co.id or contact the nearest CIMB Niaga branch office.