Press Release

October 31, 2022

Sun Life Indonesia and CIMB Niaga Presents Sun Proteksi Jiwa

A practical solution protection to face challenges in the face of uncertainty

JAKARTA, October 3, 2022 – PT Sun Life Financial Indonesia (“Sun Life Indonesia”) through a bancassurance partnership with PT Bank CIMB Niaga Tbk (“CIMB Niaga”) is expanding its reach by presenting Sun Protection Jiwa (Si Jiwa) to be marketed for CIMB Niaga clients. Sun Proteksi Jiwa is a traditional life insurance product with affordable and flexible premiums that are tailored for productive results. Providing a variety of benefits and protection benefits, Sun Proteksi Jiwa can be used as a substitute for income or inheritance funds whenever there is a risk involving the breadwinner in the family. In doing so, the family who are left behind will remain protected and the family's future financial goals can still be achieved.

Based on data released by the Central Statistics Agency, only 37% of Indonesians have savings that will last for more than 6 months. In addition, according to research from the WHO, 6 out of 10 Indonesians are vulnerable to critical illness in their productive age due to unhealthy lifestyles and eating habits. This is further exacerbated by the fact that 60% of Indonesian families left behind by the family’s breadwinner experience financial problems due to the loss of the family's backbone. Based on these data, Sun Life Indonesia is confident that Sun Proteksi Jiwa is also the right choice of protection for the productive generation who are just starting their financial planning journey to face life's limitless possibilities ahead of them.

Danning Wikanti, Chief Distribution Officer of Sun Life Indonesia said, “Decent financial management and appropriate protection solutions play an important role in achieving lifelong financial security and it is crucial that everyone start as early as possible. Currently, this has prompted us to expand distribution access to Sun Proteksi Jiwa, one of our leading traditional life insurance products, for CIMB Niaga customers through a bancassurance partnership. Targeting the productive generation who are the majority of the family's economic backbone, Sun Proteksi Jiwa is the right choice to meet the long-term life protection needs so that any future risks that may interfere with family financial planning can be anticipated as early as possible.”

Sun Proteksi Jiwa offers various advantages that can be enjoyed by CIMB Niaga customers, including:

  • Affordable premiums with protection up to billions of Rupiah.
  • The choice of protection period that is tailored to each stage of the individual's life, starting from 1 year, 10 years to 20 years.
  • Products that are equipped with additional insurance that cover critical illnesses because protection during one’s productive age is a necessity in this uncertain post-pandemic transition period.

Noviady Wahyudi, Director of Consumer Banking at CIMB Niaga stated, "As the second largest national private bank in Indonesia, CIMB Niaga always ensures that customers have access to the best products and services. “Through this partnership with Sun Life Indonesia, we offer the right protection solution for our customers as well as a product manifestation based on the passionate promise Anda#YangUtama. CIMB Niaga together with Sun Life Indonesia will continue to innovate in providing a comprehensive range of financial protection and solutions for all customers. This partnership is expected to open up wider insights about the importance of having life insurance and good financial management for anyone at this day of age,” said Noviady.

Elin Waty, President Director of Sun Life Indonesia explained, “At Sun Life, we are always committed to helping millions of Indonesian families to achieve financial security and lead a healthier life. We aim to realize this commitment through a multi-distribution channel strategy, which is to encourage our business growth while expanding equitable access to life and health protection solutions for everyone living in Indonesia. With CIMB Niaga being our strategic partner in realizing this, in the future more Indonesian families can access protection solutions from Sun Life Indonesia easily through the bank.”

Sun Proteksi Jiwa comes with various product benefits, including:

  • Death Benefit where 100% of the Sum Insured if the Insured Dies before the policy expiration date.
  • Policy Redemption Benefit where the insurer will pay the Policy redemption benefit if the Policy Owner redeems the Policy with a percentage of the total basic premium that has been paid. This benefit is only available for 10 years and 20 years of Insurance Period.
  • Additional insurance that can be added as needed, namely Sun Critical Care and Sun Critical Care Plus.

“Through the launch of Sun Proteksi Jiwa at CIMB Niaga, we hope that CIMB Niaga customers, in particular, can start their financial planning more optimally and take advantage of the peace of mind in facing a future full of risks. It's time to start self-protection as early as possible, to be better prepared to face a tomorrow full of uncertainty," Danning concluded.