BCA Life Partners with BCA to Market Endowment Insurance
The options for endowment life insurance have expanded for individuals looking to prepare funds for various long-term needs. BCA Life, in collaboration with BCA, is marketing Value Income Assurance (VALUE+), a product featuring a 20-year coverage period and end-of-term benefits of up to 1,790 per cent of the annualised basic insurance premium.
VALUE+ offers two distinct options: Plan Boost and Plan Core. Plan Boost provides periodic cash benefits of up to 25 per cent of the annualised basic insurance premium after the premium payment period ends, whereas Plan Core offers a larger lump-sum cash benefit at the end of the coverage period.
Customers can choose between premium payment periods of five or 10 years and select either Indonesian Rupiah or US Dollars as the currency. The product also offers death benefits of up to 150 per cent of the total basic insurance premiums paid, with policy applications requiring no medical examination.
Eva Agrayani, President Director and CEO of BCA Life, stated that the product is aimed at customers with varying financial requirements. She highlighted the end-of-term benefit as one of the primary features of VALUE+.
“BCA Life understands that everyone has different financial conditions, yet everyone shares one common need: certainty in preparing for the future. VALUE+ offers end-of-term benefits of up to 1,790 per cent of the annualised basic insurance premium,” Eva said in a press release on Wednesday.
BCA Director Haryanto T. Budiman noted that the partnership with BCA Life is part of the ongoing development of financial product options for customers. The product will be marketed through BCA Life financial advisors at BCA branch offices.
The benefit amounts mentioned by the company refer to the annualised basic insurance premium, while the death benefit refers to the total basic insurance premiums paid. Prospective customers are advised to carefully note the difference in these calculation bases when comparing the two plan options to ensure they align with their financial needs.