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IFG Life Protection Platinum

Comprehensive Protection for Your Financial Solutions

Insurance products with a combination of financial protection and investment growth potential and provide comprehensive advantages for policyholders

IFG Life Protection Platinum

Term life insurance product that provides death benefits due to accidents or non-accidents. With benefits of up to Rp5,000,000,000,-, IFG LifeCOVER provides flexibility for customers to determine the amount of insurance money and insurance period according to their needs.

IFG Life Protection Platinum is an insurance product of PT Asuransi Jiwa IFG Life, which is licensed and supervised by the Financial Services Authority. Therefore, IFG Life Protection Platinum product is NOT a Bank BTN product and Bank BTN is not responsible for the policy issued by PT Asuransi Jiwa IFG.

feature 1

Benefits of Investment & Death

Payment of investment balance when withdrawal/cancellation occurs as well as giving 100% of the insurance money

Lpp overview 2

Additional Insurance

Equipped with various critical illness/personal accident insurance as additional insurance (riders)

feature 1

Benefits of Investment & Death

Payment of investment balance when withdrawal/cancellation occurs as well as giving 100% of the insurance money

Lpp overview 2

Additional Insurance

Equipped with various critical illness/personal accident insurance as additional insurance (riders)

Insurance Information

Manfaat Asuransi

Benefit
Investment Benefits The Insurer will pay an amount of the investment value, if the Policyholder makes a partial withdrawal or full fund/policy redemption (surrender).
The Insurer will pay the balance of the investment value after deducting fees (if any), if the Policy is declared void by the Insurer.
Death Benefits

If the Insured dies during the Insurance Period and the claim decision is:

  • If approved, the Insurer will pay 100% of the Sum Assured plus the entire balance of the investment value to the Insurance Beneficiary.
  • If it is not approved/rejected, the Insurer will only pay the entire balance of the investment value to the Insurance Beneficiary.
End-of-Life Benefits (Maturity) If the Insured lives until the end of the Insurance Period, the Insurer will pay the lnvestment benefit in the form of the entire balance of the lnvestment value on the date of the end of the Insurance Period.

Spesifikasi Produk

Product Risk

Operational Risk
System disruptions that affect transaction settlement, force majeure situations (natural disasters, fires, riots, etc.) and others beyond the control of the Insurer that may affect operations related to this product.

Non-Optimal Insurance Benefit Risk
  • - The benefit value may increase or decrease
  • - The benefit value related to the investment may be less than the total funds invested
  • - Insurance benefits are not paid because the Insured dies caused by excluded incidents
  • - The investment return value is not optimal if the payment is not made until the agreed period
  • - Non-payment of Additional Insurance Benefits that are not guaranteed during the waiting period

Unit Link Insurance Risk
Unit prices can fluctuate following market prices. This will be reflected in the volatility of the Unit price and will cause the possibility of an increase or decrease in the Investment Value.

Market Risk/Risk of Decrease in Unit Price
Risk caused by a decrease in investment asset prices due to market value fluctuations, thereby reducing the Net Asset Value per Participation Unit.

Liquidity Risk
Risk caused by the withdrawal / redemption of Units together by Policyholders so that it can result in a decrease in Net Asset Value caused by the simultaneous sale of investment assets in the large market.

Subfund Risk

Subfund investment performance is not guaranteed.

Subdana Risk
IFG Link Equity High
IFG Link Balanced Medium - High
IFG Link Fixed Income Medium
IFG Link Money Market Low

Economic & Political Risk
Risks caused by economic and political changes in Indonesia that may affect the performance of companies listed on the Indonesia Stock Exchange and companies that issue instruments.

Withdrawal / Redemption Risk
Risk caused by a decrease in the Net Asset Value per Participation Unit due to the payment of redemption fees when the Policyholder makes a withdrawal / redemption.

Interest Rate Risk
Risk that can be caused by interest rate changes that can result in performance of managed funds, especially money market instruments.

Managed Fund Accountability Risk
Risk caused by failure to manage investments that may result in Net Asset Value changes per Participation Unit.

Credit Risk
Risk caused by other parties' failure to fulfill their obligations to the company, resulting in a reduction in the Net Asset Value per Participation Unit.

Term & Condition

Requirement

Prospective Policyholders and prospective Insured are required to fill out completely and correctly and sign the applicable Life Insurance Request Letter (SPAJ) form. SPAJ is equipped with:

  • Photocopy of proof of identity from the Policy Holder

  • Photocopy of the Insured's identity card

  • Photocopy of birth certificate for Insured Persons under 77 years of age

Prospective Policyholders are required to sign the IFG Life Protection Platinum life insurance offer proposal.

Claim Submission

1 Terms of Transfer of Funds
a Apportionment

  • Policyholders can change the composition of the type of investment allocation (subfund) by following the provisions and procedures set by the company.

  • Transactions that change the composition of the allocation type are subject to a transaction fee if made more than 2 (two) times in l (one) policy year, which is 1% (one percent) for each transaction. The fee in question is used as a transaction fee.

b Switching

  • The Policyholder can transfer all investment funds from one type of investment (subfund) to another type of investment (subfund) by following the provisions and procedures set by the Insurer.

  • Investment Fund transfer transactions are subject to a transaction fee if carried out more than 2 (two) times in the Policy year, which is 7% (one percent) for each transaction. The fee in question is used as a transaction fee.

  • Switching fund fees. charged to the Policyholder through Unit deduction calculated based on the Unit Price on the nearest Business Day after the fund transfer transaction is submitted to the Insurer.

2 Terms of Withdrawal of Investment Funds
  • The Policyholder can withdraw part of the investment value (withdrawal) or the entire investment/redemption value (surrender) in the Policy at any time.
  • Upon Partial Withdrawal of the Withdrawal Value, the Policyholder is free to choose:
    • In the form of Units; or
    • Rupiah of which type of investment will be redeemed.
  • The minimum withdrawal per transaction is IDR 1,000,000 (one million rupiah) or if in the form of Units is the number of Units equivalent to IDR 1,000,000 (one million rupiah).
  • The balance of the investment value after the partial withdrawal of investment funds (withdrawal) is a minimum of IDR 2,000,000 (two million rupiah).
  • If the withdrawal of all funds is surrendered. thus resulting in the Policy ending (void).
3 Other Terms
  • Back-dating does not apply.
  • Extra Premium terms apply for Sub-standard risk, subject to
4 Applicable underwriting
  • The maximum amount of Sum Assured is in accordance with the applicable Underwriting provisions.
  • Policyholders can only choose a maximum of 2 types of investments
  • The investment component in PAYDI involves risk.
  • PAYDI's past investment performance does not reflect PAYDI's future investment performance.

How To Register

  • 1

    Upload Data

    Complete the data and document requirements on the IFG Life website or from the nearest BTN Branch Office.

  • 2

    Check Statement

    Ensure that the information, statements and notifications provided are the basis for the Policy and an integral part of the Policy.

  • 3

    Registration Completed

    The accuracy and completeness of the data entered is the responsibility of the Policy Holder and/or Insured.

Expiration of Insurance

IFG Life Protection Platinum insurance coverage will end automatically when one of the following occurs first.

  • Basic Insurance ends immediately after the relevant application/claim is approved by the Insurer.

  • Insurance ends if the Regular Premium is not paid within the first 2 (two) years from the Policy Effective Date.

  • The insurance ends and the Policy is declared void if the existing Investment Value balance is insufficient to cover the Costs required to keep the Policy valid.

  • Additional Insurance also ends with the end of Basic Insurance.

  • As long as no events occur that accelerate the end of the Basic Insurance as specified in the Policy, the Basic Insurance ends on the end date of the Basic Insurance coverage.

  • In the event that the Basic Insurance ends on the end date of the Basic Insurance coverage, the Insurer is not obliged to pay anything.

  • As long as there are no events that accelerate the termination of an Additional Insurance as specified in the Policy, an Additional Insurance ends on the end date of the coverage of the Additional Insurance. In the event that an Additional Insurance ends on the end date of the coverage of the Additional Insurance in question, the Insurer is not obliged to pay anything;

  • The Insurer is not obligated to pay anything other than the Investment Value, if any, calculated based on the Unit Price on the nearest Calculation Date after the end date of the Basic Insurance coverage. As long as there are no events that accelerate the end of an Additional Insurance as specified in the Policy, an Additional Insurance ends on the end date of the Additional Insurance coverage. In the event that an Additional Insurance ends on the End Date of the relevant Additional Insurance Coverage, the Insurer is not obligated to pay anything.

  • As long as there are no events that accelerate the termination of an Additional Insurance as specified in the Policy, an Additional Insurance ends on the end date of the coverage of the Additional Insurance. In the event that an Additional Insurance ends on the end date of the coverage of the Additional Insurance in question, the Insurer is not obliged to pay anything;

  • The Insurer is not obligated to pay anything other than the Investment Value, if any, calculated based on the Unit Price on the nearest Calculation Date after the end date of the Basic Insurance coverage. As long as there are no events that accelerate the end of an Additional Insurance as specified in the Policy, an Additional Insurance ends on the end date of the Additional Insurance coverage. In the event that an Additional Insurance ends on the End Date of the relevant Additional Insurance Coverage, the Insurer is not obligated to pay anything.

1 Pemulihan Polis (Revival)
a Policyholders may submit a written request for Policy Reinstatement for their Policy which has been cancelled due to outstanding Regular Premiums and insufficient Investment Value to pay the Costs arising in connection with this Policy coverage no later than 2 (two) years since the Policy was declared cancelled.
b In the case of this Policy Reinstatement, the Policyholder is obliged to pay off all outstanding Regular Premiums and other obligations (if any) and fulfill the requirements determined by the Insurer, namely:

  • The Policyholder and/or Insured fills out and signs completely and correctly the Policy reinstatement request letter and brief health information as well as the forms used for the purposes of Policy reinstatement, and

  • The Insurer has the right to determine whether the Policy recovery requires a medical examination and to apply risk selection/underwriting or not. The costs incurred in the medical examination are fully borne by the Policyholder, and

  • All costs incurred in connection with the reinstatement of the Policy are the responsibility and responsibility of the Policy Holder.

c The Insurer may approve or reject a Policy Reinstatement request based on its assessment of the results of the Insured's medical examination.
d Policy reinstatement is effective after the Insurer has stated its written agreement and the Policyholder has paid all outstanding Premiums and other obligations, if any, and the Premium has been received by the Insurer.

Illustration

Illustration of Benefits

Adit (30 years old) purchased the IFG LifeCover Policy as follows:
Insured Name Adit
Insurance Period January 1, 2023 - December 31, 2023
Insured Sum Rp. 500,000,000,-
Premi Rp91.500,-
How to Pay Premiums Monthly

Illustration 1

  1. If by the end of the Insurance Period (31 December 2023) Adit does not experience the risk of death in the first year of the Policy, then no benefit payments will be paid. IFG LifeCOVER coverage can be continued if Adit extends it; or
  2. If Adit dies due to illness on September 18 2023 (during the first year of the Insurance Period), then the Insurance Benefit paid will be 100% of the Premium, namely IDR 91,500,- x 8 / Premium payment period = Rp. 732,000,- and then the insurance ends; or
  3. If Adit dies due to an accident on March 18 2023, the Insurance Benefit paid will be the Sum Insured of IDR 500,000,000,- and then the insurance ends.

Illustration 2

Adit extended the policy in the second year (1 January 2024 - 31 December 2024) with a premium of IDR 91,500/month.

  1. If Adit dies due to illness on December 15 2024 (during the second year of the Insurance Period) then the Insurance Benefit paid will be 100% of the Sum Insured, namely IDR 500,000,000,- and then the insurance ends; or
  2. Adit died due to an accident on September 18 2024, so the insurance benefit paid was 100% of the sum insured, namely IDR 500,000,000,- and then the insurance ended.

Illustration 3

Adit did not extend the Policy before the l year Insurance Period ended (31 December 2023), so the Policy ended. Then on February 1 2024, Adit again purchased IFG LifeCOVER Insurance with an insurance period of 1 year (after the policy recovery period) with a premium of IDR 91,500/month.

  1. If Adit dies due to illness on November 11 2024, then the Insurance Benefit paid will be IDR 91,500,- (the amount of the premium that has been paid) and then the insurance ends.
  2. If Adit dies due to an accident on November 11 2024, then the Insurance Benefit paid will be IDR 500,000,000,- and then the insurance ends.

Find More Information

Find Answer For Your Question

What is the benefit coverage in IFG Life Protection Platinum product?/h3>

IFG Life Protection Platinum offers Investment Benefits, Insurance Benefits, and Death Benefits.

How much is the IFG Life Protection Platinum premium?

IFG Life Protection Platinum premium starts from IDR 500,000 per month.

How long is the IFG Life Protection Platinum insurance period?

The insurance period is up to 99 years old as long as the policy is still active.

How do I purchase IFG Life Protection Platinum product?

You can visit the nearest BTN Branch Office to get information and fulfill the complete documents.

How can I get information regarding the IFG Life Protection Platinum policy?

For policy information, you can contact through
  • - IFG Life Call Center: 1500-176
  • - WhatsApp: 08111-372-848
  • - Email: customer_care@ifg-life.id

Complaint Service And Claim

Disclaimer

  • Claim decisions are entirely the decision of the Insurer by following the provisions stated in the Policy provisions.

  • Investment Fund returns are influenced by the placement of Investment Funds in the selected sub-fund.

  • The insurer can reject your product application if it does not meet the applicable requirements and regulations.

  • You must read this Summary of Product and Service Information carefully and have the right to ask PT Asuransi Jiwa IFG marketing staff about all matters related to this Summary of General Product and Service Information.

  • This Summary of General Product and Service Information is a brief explanation of the IFG Life Protection Platinum Life Insurance product and is not part of the Policy. You can learn the complete provisions regarding the Product in the Policy issued by the Insurer.

IFG LiveCOVER

IFG LifeCHANCE