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Sinarmas MSIG Life and Bank BTN launch Smart Flexi Optima Link
PT Asuransi Jiwa Sinarmas MSIG (Sinarmas MSIG Life) is collaborating with Bank BTN to launch Smart Flexi Optima Link, which offers optimal investment benefits, as well as lifetime protection with a flexibility feature and premium payment mechanism at once.
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T Asuransi Jiwa Sinarmas MSIG (Sinarmas MSIG Life) is collaborating with Bank BTN to launch Smart Flexi Optima Link, which offers optimal investment benefits, as well as lifetime protection with a flexibility feature and premium payment mechanism at once. This product has been adapted to the Financial Services Authority Circular Letter (SE OJK) No. 5/2022 concerning associated insurance products with investment (PAYDI).
"Indonesia's economic growth shows resilience reaching 5.31 percent in 2022 with positive growth prospects going forward. These conditions are the right opportunity to present Smart Flexi Optima Link, considering that PAYDI is still needed for people who need preparation to achieve long-term financial goals, as well as peace of mind with lifetime protection. Not only that, this product provides flexibility for customers because they are free to choose investment funds, currencies and make switches,” said chief partnership distribution officer Sinarmas MSIG Life, Inasari Atmodjo.
Smart Flexi Optima Plus serves as a commitment for the company in complying with SE OJK PAYDI through a thorough financial solution and optimal benefits that protect customers’ interests. Available in rupiah and United States dollars, this single-premium unit link product is also free from acquisition fees, as well as top-up fees and investment fund transfer fees. This product ensures continuity of protection and investment allocation of 100 percent with nine diverse investment fund choices, and flexibility according to the customer's risk profile.
"In collaboration with Sinarmas MSIG Life, we continue to realize our commitment to be a provider of long-term financial solutions so that we can help prepare family welfare and comfort until retirement age, with only one premium payment. We recommend this Smart Flexi Optima Link product for our priority customers so they can focus on investment objectives, regardless of the risk profile while still being protected with a lifelong death benefit. From a business perspective, we are also targeting an increase in fee-based income from the addition of this product," added Frengky Rosadrian, Wealth Management Division head of Bank BTN.
In line with a new regulation set forth by SE OJK PAYDI, the marketing of unit-linked products is adjusted to ensure and prove that prospective customers have received and understand an explanation of the benefits, costs, risks and additional features of insurance products before purchasing PAYDI. As long as the marketing process is ongoing, there will be records and other supporting documentation, then proceed with a welcoming call as validation if the prospective customer has a good product understanding. These provisions are intended for consumer protection and the improvement of insurance company governance, including for marketing in the Bancassurance distribution channel.
Sinarmas MSIG Life and Bank BTN have been partners through the Bancassurance distribution channel for more than five years. This Smart Flexi Optima Link product can be obtained through the nearest Bank BTN offices throughout Indonesia.
