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73.9 Million Indonesians Are Covered by Life Insurance


A total of 73.9 million Indonesians have been covered by life insurance until the first semester of 2022. This was explained by the Indonesian Life Insurance Association in a press release related to the Performance of the Life Insurance Industry for the First Semester of 2022.

The breakdown is that the total insured group reached 51.96 million people, an increase of 23.7 percent on an annual basis. Then, the total individual insured amounted to 21.94 million people or 8 percent of the total Indonesian population. This figure is up 0.6 percent on an annual basis.

Chairman of the AAJI Board of Management Budi Tampubolon said that the increase in the performance of life insurance, especially individual insureds, shows that the Indonesian people are increasingly aware of the urgency of insurance protection as protection and long-term financial planning.

"Although the world community is facing a global economic slowdown and rising inflation, people's interest in the life insurance industry is increasing. This challenge has the potential to suppress people's purchasing power for life insurance products," said Budi in a press release received by, Wednesday (23/9/2022).

Budi acknowledged that overall, the income of the life insurance industry was depressed due to the decline in single premium income. However, the increase in regular premium income, which grew by 1.3 percent to Rp 49.7 trillion, actually indicates that people are increasingly understanding the long-term protection function of life insurance products.

In addition, economic improvements in almost all sectors have also led to an increase in demand for insurance protection from business actors to employees. It also shows that companies are increasingly committed to creating sustainable businesses.

"In total, the penetration of life insurance to the total population of The Indonesian population reaches 8 percent," said Budi.

In line with AAJI, the Financial Services Authority (OJK) noted that life insurance assets grew 8.54 percent on an annual basis to Rp 603.34 trillion.

"The life insurance business line that contributes the highest premium income is insurance products that are associated with the investment (PAYDI) or unit links," said OJK Non-Bank Financial Industry Supervisory (IKNB) Chief Executive Ogi Prastomiyono, as reported by, Tuesday (13/9/2022).

Pay recorded a premium income of IDR 44.47 trillion or contributed 45.23 percent of the total premium.

Support the JKN program

Still based on the performance data of the life insurance industry, Budi assessed, the life insurance industry shows that industry is a liquid industry.

This can also be seen from the payment of claims and benefits which reached IDR 83.93 trillion. In the same period, health insurance claims reached Rp 6.94 trillion, or an increase of 28.4 percent.

According to Budi, the payment of health claims is one of the commitments of the life insurance industry to protect the people of Indonesia.

"The life insurance industry also participates in supporting the National Health Insurance (JKN) program. Throughout the first semester of 2022, the life insurance industry has helped more than 6 million Indonesian families through claim payments and benefits," explained Budi.

"The life insurance industry also participates in supporting the National Health Insurance (JKN) program. Throughout the first semester of 2022, the life insurance industry has helped more than 6 million Indonesian families through claim payments and benefits," explained Budi.

Meanwhile, from March 2020 to June 2022, the life insurance industry has paid claims related to Covid-19 amounting to IDR 9.72 trillion. This is clear evidence that the life insurance industry can protect Indonesian families in various conditions.

Reflecting on this data, Budi advised the Indonesian people not to hesitate and worry about registering as a life insurance policyholder, both as a policyholder of traditional life insurance products, as well as unit-linked life insurance. Moreover, submitting a life insurance claim is also fairly easy.

As is known, an insurance claim is an official submission to the insurance company to request payment based on the terms of the life insurance policy that is followed. Before being paid, the insurance company will review and validate.

Quoted from the official AAJI website, the first step that must be taken in submitting a life insurance claim is to report to the insurance provider or marketer that the insured has passed away.

Keep in mind that the deadline for filing a life insurance claim ranges from 30 days to 60 days after the day of death of the insured.

Next, the heir needs to fill out and send the necessary related documents, such as a photocopy of the identity of the insured and heir, the original policy, the death claim form, the presentation of the contents of the medical record, the death certificate, and a photocopy of the account book.

Information regarding the required documents is usually also available on the insurance company's website.

When preparing the file, make sure all the required forms are filled in honestly and clearly to avoid the rejection of insurance claims.

For your information, the submission of a claim can also be rejected if the insured dies as a result of suicide or committing a crime. The filing of a claim will fail if the premium payment is bad.

After receiving the file, the insurance company will verify the correctness of the data and match it with the terms of the policy. This process usually takes about 14 business days from the time the file is received in full.

If the documents are following the provisions, the insurance company will disburse the sum insured to the heir's account.

Meanwhile, OJK also reminded the entire insurance industry to maintain public trust.

"Insurance industry players need to have a strong commitment by building good fundamentals, making products that can be understood by the public, and presenting an easy claim process," said OJK Board of Commissioners member Riswinandi Idris.

Riswinandi hopes that insurance industry players can make a clear and complete business plan, as well as create a premium price structure that is by existing risks.

By increasing the level of public awareness of the urgency of insurance protection plus the commitment of the insurance industry to provide the best service, undoubtedly health protection for the people of Indonesia can be realized optimally.

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