Yogyakarta, CNBC Indonesia \u2013 The Financial Services Authority (OJK)\nhas stressed the importance of preparing financially from a young age to\nensure a more prosperous future. One way to do this is by securing\ninsurance coverage early.<\/p>\n
Sumarjono, Head of the OJK\u2019s Insurance and Supporting Services\nSupervision Department, said the public needs to anticipate various\nfuture risks.<\/p>\n
\u2018If you want to be secure in old age, we must prepare and plan from\nnow,\u2019 Sumarjono said at the Educational Class of the 2026 Jogja\nFinancial Festival titled \u2018Young and Wealthy, Old and Secure\u2019 at the\nJogja Expo Centre (JEC) in Bantul on Saturday, 23 May 2026.<\/p>\n
He noted that insurance plays a vital role in society, covering\nhealth, financial stability, and overall welfare. However, Indonesia\u2019s\ninsurance penetration rate remains relatively low.<\/p>\n
OJK data shows Indonesia\u2019s insurance penetration rate stood at 2.7%\nin 2025, lagging behind ASEAN peers such as Singapore, Malaysia, the\nPhilippines, Thailand, and Vietnam.<\/p>\n
Sumarjono explained that low insurance penetration is due to several\nfactors, including the public\u2019s lack of awareness about risks affecting\ntheir livelihoods.<\/p>\n
Additionally, past experiences of claim payment failures in the\ninsurance industry have affected public trust in insurance products.<\/p>\n
Nevertheless, he observed growing public interest in insurance\neducation, particularly among the youth.<\/p>\n
This was evident from the enthusiasm of participants, including\nstudents and the general public, at the 2026 Jogja Financial Festival\u2019s\nEducational Class.<\/p>\n
During the discussion session, several students cited reasons why\nyoung people remain reluctant to take up insurance despite understanding\nthe importance of financial protection.<\/p>\n
Some said insurance terms are difficult to understand, while others\nview it as offering poor returns compared to investment instruments like\nshares when surplus funds are available.<\/p>\n
These insights are considered crucial by speakers to expand education\nand boost insurance uptake among the younger generation.<\/p>\n
The event also featured AAJI Handojo G Kusuma, Chairman of the\nInter-Institutional Cooperation, Domestic and International Regulators\nand Stakeholders, and Heru Handayanto, Chief Financial Officer of\nIndonesia Financial Group (IFG).<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-reveals-secrets-to-a-secure-retirement-1780351583", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }