Great Eastern Life Indonesia And CTBC Bank Strengthen Family Financial Protection

Great Eastern Life Indonesia together with Bank CTBC Indonesia officially launched a life insurance product for the GREAT Income Assurance (Doc. Public Relations)

JAKARTA In the midst of global economic uncertainty that still overshadows Indonesia, such as financial market turmoil, geopolitical tension, to the economic slowdown of a number of trading partner countries that have helped to suppress the national economy.

Meanwhile, based on data from the Ministry of Finance, it shows that national economic growth in the first quarter of 2025 only reached 4.87 percent (yoy), while the APBN surplus until April was recorded at IDR 4.3 trillion or equivalent to 0.02 percent of GDP.

In addition to maintaining fiscal stability, the slowdown in household consumption and domestic investment indicates the need to strengthen financial foundations for Indonesian families in facing future challenges.

Despite being in a challenging economic condition, the Indonesian people show a high awareness of the importance of financial protection. Based on data from the Indonesian Life Insurance Association (AAJI), the life insurance industry still recorded positive growth in the first quarter of 2025 where the total premium recorded reached IDR 47.45 trillion, an increase of 3.2 percent compared to the previous year, while the number of individual beneficiaries grew 11.6 percent to 21.97 million people.

In addition, the bancassurance channel continues to be the main contributor, with a contribution of 39.2 percent to the total regular premium, reflecting the increasing public confidence in this distribution route.

Responding to the public's need for an adaptive financial solution in an era full of uncertainty, Great Eastern Life Indonesia together with Bank CTBC Indonesia officially launched a life insurance product for the use of GREAT Income Assurance.

Meanwhile, this product not only provides life protection, but also offers guaranteed annual income benefits, thus helping Indonesian families maintain long-term financial stability.

The following is the advantage of GREAT Income Assurance, among others:

- Annual Revenue Guaranteed Customers will receive 25 percent of cash benefits from annual premiums at the end of the 6th year to 9th year of policy, to support various needs such as education, investment, or retirement plans.

- Premium Returns of up to 105 percent By the end of the protection period (10th year), customers will receive a premium return of 105 percent of the total premium that has been paid, so that this product functions double as a protection and savings solution.

- Mental protection of up to 130 percent If there is a risk of death from the 3rd to 10th policy year, beneficiaries will get up to 130 percent of the total premium that has been paid.

- The flexibility of PremiPremi Payments can be paid on an annual basis or monthly basis, with a payment period of only 5 years for protection for 10 years. Premiums start at IDR 2.5 million per month, making them affordable for young and established professionals.

Director of Bancassurance Great Eastern Life Indonesia Sisca Then said that this launch also strengthens the synergy between Great Eastern Life Indonesia and Bank CTBC Indonesia in providing broad access to quality and affordable financial protection solutions.

Sisca said that in a situation full of dynamics, many families need certainty over their financial condition.

Great Income Assurance is here to help families in Indonesia have guaranteed life protection as well as annual income, so that they can focus more on important things in life," he explained in his statement, Wednesday, June 18.

According to him, through collaboration with Bank CTBC Indonesia, his party wants more Indonesian families to more easily gain access to financial protection that is relevant to their needs.

Similarly, the Chief of Retail Banking of PT Bank CTBC Indonesia, Bambang Simmon Simmarno, added that in current market conditions with high volatility, his party hopes that with the launch of the Great Income Assurance at Bank CTBC Indonesia, Customers will have alternative protection products accompanied by annual revenues whose value is certain and guaranteed.

"We hope that with the addition of this product, Bank CTBC Indonesia can help customers complete various financial needs," he said.

For information, the launch of the GREAT Income Assurance is also in line with the national financial inclusion policy and supports the National Financial Smart Movement (GENKAN) initiated by the government, OJK, and the National Board of Inclusive Finance, as well as, this program targets a 98 percent financial inclusion rate by 2045, as part of the vision of Indonesia Gold 2045.