OJK Encourages Utilisation of Property Insurance in the 3 Million Houses Programme, Here is the Scheme

The Financial Services Authority (OJK), through its Executive Head of Insurance, Guarantee, and Pension Fund Supervision, Ogi Prastomiyono, has stated that it plans to promote property insurance within the 3 Million Houses programme.

He noted that this programme features long tenors of up to 20 years, necessitating mitigation against risks such as the death of the debtor, earthquakes, fires, and floods.

He explained that regarding the premium financing scheme, OJK is currently discussing several options to facilitate this.

In addition, OJK is considering government subsidies up to blended schemes in the people’s housing financing facility, which is one of the Strategic National Programmes (PSN).

“The technical issues are now being discussed, whether the premiums are covered by the government, through subsidies, or blended within the people’s housing facility programme,” said Ogi in the SCBD area, Sudirman, South Jakarta, on Monday, 13 April 2026.

Previously, Ogi also mentioned that current independent health expenditure (out of pocket) by the public has reached up to Rp 175 trillion.

Therefore, Ogi stated that it has coordinated with the government to reduce the figure for independent health expenditure by the public, while encouraging the public to start utilising insurance coverage.

In particular, Ogi outlined that the portion of the public still paying for health costs independently is recorded at 28.8 percent.

“The public who have not used products for health programmes, whether BPJS or commercial-like health insurance, is still quite large,” said Ogi.

“There is 28.8 percent of total health expenditure that is still paid with their own money or called out of pocket, amounting to Rp 175 trillion. That is what we want to reduce,” he added.