Launch of Critical Illness Protection to Boost Access to Financial Safeguards

The rising risk of critical illnesses, which often strike without warning, is prompting the insurance industry to offer more comprehensive and affordable financial protection solutions to the public. In response to this need, PT Chubb Life Insurance Indonesia has launched My Critical Illness Protection, a basic insurance product designed to provide protection against the risks of critical illnesses as well as various other unforeseen events. President Director of Chubb Life Indonesia, Naresh Krishnan, stated that the uncertainties of life, including the risk of critical illnesses, can pose significant challenges to individuals and families, particularly amid rising medical treatment costs. “With the support of advanced medical treatments today and the right protection, patients can receive timely care and focus on recovery. We are committed to supporting our customers with strong protection so they can face the future with optimism,” he said in an official statement on Wednesday (8/4). This product offers protection benefits from the early stage of diagnosis. Customers will receive 50% of the sum insured if diagnosed with an early-stage critical illness, and up to 100% for advanced-stage conditions with adjustments to previous claims. In addition, the protection covers a death benefit of 100% of the sum insured for all causes, as well as an additional benefit of 100% if death occurs due to an accident. In terms of affordability, premiums are offered starting from Rp140,600 with flexible payment periods between 5 and 15 years. The coverage period is also available in similar options, with payment frequency choices ranging from monthly to annually. The minimum sum insured is set at Rp250 million. One of the product’s advantages is the certainty of premiums that do not increase during the payment period, providing assurance in long-term financial planning for customers. Management states that the launch of this product is part of efforts to expand access to life insurance protection while increasing public awareness of the importance of early health risk mitigation. As part of the global Chubb insurance group, the company continues to strengthen its presence in Indonesia through the development of products relevant to domestic market needs.