Manulife Indonesia and Bank Danamon have launched Proteksi Prima Fleksi Ekstra, a new life insurance product offering greater flexibility for medium-term financial planning, including early benefit access and currency options, designed to cater to customers’ evolving needs.
Manulife Indonesia and Bank Danamon have launched Proteksi Prima Fleksi Ekstra, a life insurance product aimed at customers who want medium-term financial planning with the option to draw benefits earlier if their needs change, according to JPNN and Manulife Indonesia’s product information. The offer is designed to combine protection for beneficiaries with greater flexibility over when policy benefits can be accessed.
Kah Jing Lee, chief bancassurance officer at Manulife Indonesia, said the product is meant to give customers more certainty around benefits while still allowing the policy to adapt to changing circumstances. The company says the product sits under an “Ekstra SIAP” concept, which bundles comprehensive solutions, inclusive protection, no medical examination at application, earlier access to policy benefits and currency options in rupiah or US dollars.
According to Manulife Indonesia, PPFE is available to prospective insured customers aged 18 to 80. Premiums can be paid for five years on a 15-year term or six years on an 18-year term, with minimum annual premiums of Rp24 million or US$2,400. The policy also includes an early termination benefit in certain policy years, allowing holders to receive part of the benefit before the coverage period ends, subject to the policy’s terms and conditions.
Manulife says the benefit structure is intended to help with goals such as children’s education, family milestones or other medium-term expenses without waiting for the full term to mature. The company’s product page says PPFE can provide accidental death benefits of up to 660% of the annual basic premium, early policy termination benefits of up to 760%, and an end-of-coverage benefit of up to 1,025% of the annual basic premium. The product is offered through Bank Danamon branches.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
