SCB launches new scheme

SCB launches new scheme

JAKARTA (JP): Standard Chartered Bank (SCB), in cooperation
with insurance company CIGNA International, launched on Saturday
a new savings scheme combining a regular savings account with
insurance coverage.

"Our research shows that banking customers in Indonesia view
insurance protection as a value-added benefit," Standard
Chartered's country head of consumer banking, Farhad Irani, said.

Savings Plus comes with free life insurance coverage, personal
accident coverage and a hospital cash plan.

The life insurance coverage is for 100 percent of a customer's
average balance, up to a maximum of Rp 200 million, while the
personal accident coverage is equal to 200 percent of the
customer's average balance, up to a maximum of Rp 400 million.
The hospital cash plan provides a daily payment of up to Rp
250,000 when a customer is hospitalized.

The higher the balance in the customer's account, the higher
the insurance protection, the bank said in a statement.

CIGNA chief executive officer for Indonesia Steven Lee Novkov
said the combination of insurance coverage and a savings account
had never before been offered.

"We hope Standard Chartered customers will derive a benefit
from the scheme," he said.

The London-based Standard Chartered has operated in Indonesia
since 1863. It now has five branches -- in Jakarta, Bandung,
Semarang, Surabaya and Medan. (10)