AIA launches new products

AIA launches new products

JAKARTA (JP) : Life insurance schemes have become increasingly
preferable investment vehicle alternatives, the vice president of
PT Asuransi AIA Indonesia life insurance company, Angger P
Yuwono, said on Wednesday.

Yuwono said the collapse of the banking industry had prompted
an increasing number of people to shift a portion of their
savings to insurance companies.

AIA director and general manager Mark S. O'Dell said the
Indonesian-American insurance joint venture increased its premium
income 150 percent to Rp 118.50 billion (US$17.6 million) last
year.

The two executives made the observations at a news conference
held to launch two new AIA life insurance products.

One of the new products is Provider 88. It offers life
insurance coverage, with seven or 21 premium payments, until the
policyholder reaches 88 years of age. The other product is ARTA
15, which provides 15 years of life insurance coverage with only
five years of payment emphasizing the savings aspect.

The company said the products presented two benefits, namely
an annual bonus and, starting from the second year, guaranteed
cash value every three years. (01)