6 Best Life Insurance
Life insurance is about trust and the financial strength of the company that will pay the claim later. Therefore, we must be able to choose the best and most trusted insurance company.
From a search based on the number of company assets, number of agents, product diversity and level of popularity in the community, we found 10 life insurance companies.
List of the best and most trusted life insurance
1. Prudential Indonesia
Founded in 1995, PT Prudential Life Assurance (Prudential Indonesia) is part of Prudential plc, a leading financial services group in the UK. As part of a Group with more than 168 years of experience in the life insurance industry, Prudential Indonesia is committed to developing its business in Indonesia.
Prudential Indonesia’s progress is very good, especially with the presence of financial protection products plus investment, namely unit links in 1999. And in 2007, Prudential provided sharia-based insurance services that made its products easy to see and accepted by the community.
As of December 31, 2021, Prudential Indonesia has its head office in Jakarta with 6 marketing offices in Bandung, Semarang, Surabaya, Denpasar, Medan, and Batam and 361 Independent Marketing Offices (KPM) throughout Indonesia. As of the end of 2021, Prudential Indonesia serves 2.5 million insured persons supported by more than 172,000 licensed Marketing Personnel.
Prudential Indonesia is registered and supervised by the Financial Services Authority (OJK).
2. Allianz
Allianz started its business in Indonesia by opening a representative office in 1981. In 1989, Allianz established PT Asuransi Allianz Utama Indonesia, a general insurance company.
Then, Allianz entered the life, health and pension fund insurance business by establishing PT Asuransi Allianz Life Indonesia in 1996. In 2006, Allianz Utama and Allianz Life started the sharia insurance business.
Today, Allianz Indonesia is supported by more than 1,000 employees and more than 40,000 marketers and supported by a network of banking partners and other distribution partners to serve more than 10 million insured in Indonesia.
Allianz Group is a leading insurance company and asset manager in the world with more than 126 million personal and corporate customers. Allianz customers benefit from a variety of personal and corporate insurance services, ranging from property, life and health insurance to credit insurance assistance services and business insurance globally.
Allianz Indonesia is registered and supervised by the Financial Services Authority (OJK).
3. Manulife
Established in 1985, PT Asuransi Jiwa Manulife Indonesia (Manulife Indonesia) is part of Manulife Financial Corporation, a Canadian financial services group operating in Asia, Canada and the United States.
Manulife Indonesia offers a variety of financial services including life insurance, accident and health insurance, investment services and pension funds to individual consumers and business actors in Indonesia.
Through a network of nearly 11,000 employees and professional marketers spread across more than 30 marketing offices, Manulife Indonesia serves approximately 2 million customers in Indonesia.
Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and live better.
Through its global headquarters in Toronto, Canada, Manulife provides financial advice and insurance, operating as Manulife in Canada, Asia, and Europe, and primarily as John Hancock in the United States.
Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions, and retirement plans around the world. We operate in Asia and Canada, and the United States, where we have served clients for more than 155 years. We are traded under the symbol ‘MFC’ on the Toronto, New York, and Philippine stock exchanges and under ‘945’ in Hong Kong. In the last 12 months we have paid claims of CAD$31.8 billion to our customers.
PT Asuransi Jiwa Manulife Indonesia is registered and supervised by the Financial Services Authority (OJK).
4. AXA Mandiri
The company, which was established in 1991, has the original name AXA Mandiri Financial Services.
AXA Mandiri is an insurance company that provides life insurance, health, critical illness, property, pension and old age funds, and education products. The products of this insurance are quite diverse and are adjusted to the needs of the community.
5. AIA Financial
PT AIA FINANCIAL (“AIA”) is one of the leading life insurance companies in Indonesia and is a life insurance company registered with and supervised by the Financial Services Authority. AIA in Indonesia is a subsidiary of the AIA Group.
AIA offers a variety of insurance products, including insurance with Sharia principles, which include life insurance, health insurance, personal accident insurance, insurance linked to investments, employee welfare programs, and Pension Fund (DPLK) programs.
These products are marketed by more than 6,000 experienced and professional sales staff through various distribution channels such as agencies, Bancassurance and Corporate Solutions (Pension & Employee Benefits).
Some of AIA Financial’s life insurance products include AIA Power Pro Life, AIA Proteksi Prima Plus, AIA Protection Income Plan, AIA Proterm Protection, AIA Critical Protection, AIA Prolink Assurance, AIA Priority Plus Assurance, AIA Infinite Plus Assurance, AIA Sakinah Assurance, AIA Family Protection, and AIA Infinite Link Assurance.
AIA Group Limited and its subsidiaries (collectively referred to as “AIA” or the “Group”) are the world’s largest independent pan-Asian life insurance group listed on the stock exchange. AIA Group Limited has subsidiaries and branches operating in 18 markets in Asia Pacific, namely Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, Myanmar, Sri Lanka, and a 49 percent ownership of joint venture shares in India.
PT Asuransi Jiwa AIA Indonesia is registered and supervised by the Financial Services Authority (OJK).
6. Simas Jiwa Insurance
Simas Jiwa Insurance or known as Sinar Mas Insurance is a subsidiary of Sinar Mas Group which operates in the economic and financial sector. This company was founded in 1985 under the name PT Asuransi Kerugian Sinar Mas Dipta, which was later changed to PT Asuransi Sinar Mas in 1991.
Initially, Sinar Mas Insurance was known as a general insurance company, but in the future it formed a special insurance unit for health, life, education, and pension funds. This company also collaborates with the Japanese insurance company Sumitomo Insurance to strengthen its network and capital.
Sinarmas life insurance consists of 4 types of products, namely individual life insurance, group life insurance, sharia life insurance, and health insurance. Examples of individual life insurance include Smart Investa Link, Simas Maxi Pro SiJi Fixed Link, Simas Protection Complete, Simas Jiwa Smart Save, Simas Jiwa Legacy, Simas Dana Pasti, and Simas 1 Link. Examples of group life insurance include DPLK, Credit Life Insurance, Natural Death Insurance, Savings Life Insurance, Group Term Life Insurance, and Group Personal Accident Insurance. Meanwhile, examples of sharia life insurance include Simas Investa Link Syariah, Simas Maxi Pro Syariah. Finally, Sinarmas health insurance includes Simas Complete Care and Simas Dengue Fever.
PT Asuransi Jiwa Sinarmas is registered and supervised by the Financial Services Authority (OJK).
