FWD Insurance: Islamic Insurance Literacy Among Indonesian Muslims Continues to Rise
BANDUNG — FWD Insurance has revealed that public literacy regarding Islamic insurance among Indonesian Muslims continues to experience positive growth. Furthermore, consumers are increasingly aware of more careful financial planning during the Ramadan fasting month.
Slamet Riyoso, Director and Chief Technology & Operations Officer of FWD Insurance, stated that Islamic insurance can form part of risk planning for Muslim communities in Indonesia, operating on shariah principles and transparency. Additionally, Islamic insurance offers fair and sustainable protection solutions.
“Ramadan is often a time for families to pause and reflect on various aspects of life, including financial readiness,” he said on Friday, 13 March 2026.
He noted that the company offers Islamic insurance services with hospitalisation benefits covering disease or injury treatment. With contributions starting from IDR 75,000 per month, the product is available to customers up to 60 years of age.
This service provides coverage for room charges, doctor fees, medication, surgical procedures, with benefits of up to IDR 100 million annually. Additionally, there is an education benefit service provided either in lump sum or periodically over four years when the child reaches 18 years old.
The service also provides financial protection in the form of death benefits, total permanent disability benefits, or critical illness coverage, and waiver of future contributions if such risks befall the policyholder’s parent.
During Ramadan 2026, the company launched FWD Vodcast Ramadan featuring the theme “A Child Asks His Father,” collaborating with Ahmad Risyad and his father, Dr Muhammad bin Ali.
“Through a straightforward and easily understood approach, we want to help the public view Islamic insurance as part of comprehensive life planning,” he said.
He added that the Future Insights into Ramadan and Eid 2025 survey from Jakpat showed that 52 per cent of Muslim respondents were preparing a larger budget during Ramadan compared to ordinary months.
The majority of these funds were allocated for zakat, infaq, and sedekah or Islamic charitable giving (82 per cent), Ramadan and Eid food needs (75 per cent), breaking fast together (66 per cent), shopping (62 per cent), as well as homecoming travel (37 per cent) and holidays or leisure travel (31 per cent).