Prudential Indonesia has launched PRUMapan, a traditional life insurance product with Mapan Fund Benefits designed to help Millennials and Gen Z prepare long-term financial planning in an affordable, flexible, and accessible way.
Through PRUMapan, Prudential Indonesia hopes to support young Indonesians to realise a #MapanTerkendali future while reducing the risk of being trapped in the sandwich generation cycle.
Ms Karin Zulkarnaen, Chief Customer & Marketing Officer, Prudential Indonesia, said, "At Prudential Indonesia, we start from the perspective of the customer, how a solution can really be relevant to their dynamic, responsible, and full of dreams reality. The survey from IDN mentions that as many as 43% of Gen Z and 44% of Millennials show a strong interest in increasing their income through side jobs or having small businesses.
“For this reason, PRUMapan is designed so that young people can plan their future to be financially independent which can be done by building a business or pioneering a business one day which can start from now in an affordable, flexible, and sure way, so that they can remain productive today to realize their dreams in the future," explained Karin.
Responding to the needs of today's young people, PRUMapan is designed as a long-term financial planning solution that is easy to understand and relevant to the lifestyle of the younger generation. With premiums starting from IDR200,000, flexible payment, certainty of returns in the form of Mapan Fund Benefits, and registration process without medical examination, PRUMapan provides convenience for young people to start taking steps from now on.
Various benefits provided by PRUMapan include:
- Life protection due to natural death or additional due to accidents according to the provisions of the policy;
- The benefits of the Mapan Fund are paid starting at the age of 55 to 75 years (or 20 years after the Mapan Age);
- Flexibility to access the Mapan Fund Benefits early, starting at age 45 or after 11x premium payment (whichever is the latest), as well as the option of Additional Premiums at the beginning of the Policy application to increase the Mapan Fund Benefits specifically for the age of the Insured ≥37 years;
- Maximum benefits that can be received up to 5.8 times the annual premium, depending on the age of the insured policy. This product also provides a choice of cash benefit flexibility according to the needs of the Customer in the form of a choice of Mapan Fund Benefits paid in the same amount per year in 21 times or a larger amount in the first year and the same amount in the following years; and
- Easy registration, without health checks for a maximum of IDR250 million per Insured; or with some health questions for Annual Premiums > IDR250 million to IDR500 million per insured.