Encourage Financial Readiness In Retirement Period, Sinarmas MSIG Life Introduces Sinarmas Pension Plan

JAKARTA - PT Asuransi Jiwa Sinarmas MSIG Tbk (Sinarmas MSIG Life), Life insurance company from the MS&AD group in Japan, and PT Bank Sinarmas Tbk, a company engaged in the banking industry from the Sinarmas group, launched the Sinarmas Pension Plan, a new life insurance product that helps Indonesians carry out financial planning so that financially able to fully live life even in retirement.

This innovative solution provides benefits guaranteed up to 500 percent of coverage money with annual benefits that increase periodically, as well as various advantages and flexibility such as being free to choose a retirement period, up to the premium payment period and even the amount of coverage money according to their needs.

Inasari A. Atmodjo, Chief of Partnership Distribution Sinarmas MSIG Life, said that retirement is the time for a person to fully enjoy life from the results of his hard work during his life.

"However, to be able to make it happen, the family must have a mature retirement plan. The impact of the risk can be many times more than when they were at productive age, and this creates a burden in the lives of children or extended families, often called the sandwich generation," he explained in a written statement, Wednesday, September 6.

BPS 2022 data reveals that the burden of population dependence that has not or is not productive towards productive age has reached 44.67 percent. This means that almost half of the 100 population of productive age are non-productive age and data from the Financial Services Authority (OJK), 2021, shows that only 6 percent of Indonesians have prepared plans for retirement.

By understanding the unique needs and aspirations of individuals, we collaborated with Bank Sinarmas as our preferred partner to create a new innovation, namely the Sinarmas Pension Plan, which provides coverage benefits of up to IDR 6 billion. With easy submissions and guarantees received, this product provides solutions for people who want to build a strong family financial condition in retirement so that they can live a full life. This innovation strengthens the realization of the commitment of the commitment company as a Trusted Partner for Life," continued Inasari.

Bank Sinarmas is a Bancassurance product distribution partner from Sinarmas MSIG Life for more than 10 years, and has protected more than 35 thousand customers from this collaboration. Sinarmas MSIG Life and Bank Sinarmas are increasingly synergistic in innovating by adding financial solution options for Bank Sinarmas customers.

Director of Retail Banking at Bank Sinarmas, Miko Andidjaja, said that as a bank that is committed to providing various financial solutions for the people of Indonesia, we collaborate with Sinarmas MSIG Life to launch the Sinarmas Pension Plan.

"We hope that more Indonesians plan their retirement better and have strong financial protection so that they are calmer, have a sense of security and are more prosperous in old age," he said.

Sinarmas Pension Plan can be accessed by all Bank Sinarmas customers spread across almost all 34 provinces in Indonesia. Customers who want to know more can contact the nearest Bank Sinarmas Branch Office.