business

The Economy Is Unstable, And People Need More Financial Protection

PT Zurich Topas Life (Zurich Life) has launched the Zurich Income Assurance Plan (ZIAP), a new dual-purpose life insurance product aimed at helping Indonesian families navigate economic fluctuations while safeguarding their long-term financial goals. This product serves as a financial planning and protection solution amid ongoing global economic uncertainty, offering total annual benefits of up to 225% and stage benefits of up to 450% of the sum insured.

For instance, in 2024, Indonesia's economy faced significant turbulence. Although the annual inflation rate remained relatively stable, the country experienced a deflation trend for five consecutive months from May to September 2024. Data from the Central Statistics Agency (BPS) revealed that the education and health sectors were among the highest contributors to inflation throughout 2024, with school fees rising by up to 15% per year. Tuition fees ranked among the top six core components contributing most to Indonesia's inflation.

Richard Ferryanto, President Director of PT Zurich Topas Life, stated, “From the Covid pandemic a few years ago, we have come to realize that life is full of challenges and uncertainties. This includes economic challenges, lifestyle changes, and fluctuating inflation-deflation cycles. All of these significantly impact household expenses, especially in education and health. The Zurich Income Assurance Plan offers a combination of life protection benefits and financial planning with various flexibilities to meet the evolving needs of Indonesian families.”

ZIAP offers three main advantages for better financial planning. Its flexible product allows policyholders to choose the Coverage Amount, schedule for Annual Benefits and Staged Benefits, and Premium Payment Period based on their needs. ZIAP also provides comprehensive protection, including benefits for age-related illnesses, accidents, and premium waivers for critical illness or total permanent disability, ensuring financial security for families. Additionally, the process from Simplified Issue Offer to Full Underwriting can be tailored to the preferences and needs of ZIAP customers, allowing for quicker and more efficient access to protection.

During the launch of ZIAP, celebrity Ersa Mayori shared her thoughts on the importance of financial planning for family futures. "As a working mother, I understand the need for solid financial planning for my family's future. Life is often full of surprises, and as a parent of a teenager approaching adulthood, I prioritize financial protection. With good preparation, we can face the future calmly, knowing there is support for our family's long-term financial security, even amid unexpected challenges."

Ersa also noted that fluctuating economic conditions highlight the need for precise financial planning, which includes long-term needs like children's education and retirement funds. As part of her future plans, Ersa is pursuing her dream of continuing her education with a master's degree.

The principle of future planning, while not neglecting basic protection needs, is the foundation of ZIAP. This innovative product, introduced by Zurich Life, aims to help families achieve financial independence through measured and directed planning.

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Tag: Financial Protection Zurich Topas Life