Needs continue to grow over time. New aspirations continue to grow and every means that we give every day is an effort to make it happen. Excellent financial planning and protection are important elements to accompany your steps to realize your aspirations of life.
FUTURE WEALTH ASSURANCE is an insurance product from PT AIA FINANCIAL giving you a certain step in planning a better future.
Fast Start to drive Optimum Investment
Peace of Mind
Account value formed from the premium invested, will be paid if (whichever occurs first):
Additional death benefit due to accident
If the Insured dies due to accident in the Insurance Period and Age of the Insured for no more than 70 years, then the Accumulated Death Benefit will be paid a maximum of 100% of the Sum Insured.
Additional death benefit due to dying from accidents in public transportation
If the Insured dies due to an accident in public transportation during the Insurance Period and the Age of the Insured for no more than 70 years, then the Accumulated Death Benefit will be paid a maximum of 100% of the Sum Insured.
|Underlying Funds||Investment Strategy & Risk Level|
|IDR Prime Equity Fund||Investment in selected stock mutual funds with a relatively high level of risk to obtain a more optimal long-term growth rate.|
|IDR Prime Fixed Income Fund||Investment in Rupiah-based fixed income mutual funds with medium risk level to obtain attractive growth rates.|
|IDR Equity Fund||Investments in stock instruments on the Indonesia Stock Exchange (IDX) that provide relatively high yield growth with relatively high risks.|
|IDR Balanced Fund||Strategic investment in selected stocks with a relatively high risk level and in fixed income securities with medium risk level to obtain optimal growth rates.|
|USD Fixed Income Fund||Investments in US Dollar medium-term fixed income securities to obtain attractive growth rates.|
|USD Prime Global Equity Fund||Investment in US dollars with broadly diversified placements in various countries, both developed and developing countries, with a relatively high risk level to obtain optimal long-term growth rates.|
|USD Prime Emerging Market Equity Fund||Investments with US dollars with broadly diversified placements in various developing countries with relatively high risk levels to obtain optimal long-term growth rates.|
|USD Prime Multi Asset Income Fund||Investment in US Dollars through the selection of various mutual funds listed on the global stock exchange, and having diversified investments in various assets such as: debt securities, stocks, infrastructure assets, Collateralized Loan Obligations (CLOs), Real Estate Investment Trusts (REIT), Catastrophe Bonds (CAT bonds) and / or equity hedges marketed in the United States, Canada, Europe, Asia, the United Kingdom, and / or developing countries, with medium risk levels to obtain a sustainable growth rate.|
Insured: 30 days - 60 years old
Policy holder: minimum 18 years old
Currency options: Rupiah (Rp) & US Dollar (USD)
Insurance Period: until the insured is 80 years old
Minimum Premium Payment:
Minimum Single Top-Up Premium: Rp 1.000.000/USD 100
Sum Assured: 5 times Annual Basic Premium
Loyalty bonus (at the end of the 10th premium year)
|Annual Basic Premium||Loyalty Bonus
(%Annual Basic Premium)
|Rupiah Policy||US Dollar Policy|
|< Rp 200.000.000 / < USD 20.000||25%||12,5%|
|≥ Rp 200.000.000 / ≥ USD 20.000||50%||25%|
Extra Allocation Premium
|Premium Year||Extra Allocation Premium
(%Annual Basic Premium)
|Rupiah Policy||US Dollar Policy|
|6 – onwards||3,0%||1,5%|
Fees and Charges
|Withdrawal Fee for Basic Premium Account Value||Rupiah||Not Allowed||40%||25%||10%||7,5%||5%||0%|
|(% Of Basic Premium Account Value withdrawn)||US Dollar||35%||20%||10%||7,5%||5%||0%|
|Policy Redemption Fee||Rupiah||75%||60%||40%||25%||10%||7,5%||5%||0%|
|(% Of Basic Premium Account Value withdrawn)||US Dollar||70%||55%||35%||20%||10%||7,5%||5%||0%|
|Underlying fund||Investment management fee (annually)|
|IDR Prime Equity Fund||1,00%|
|IDR Prime Fixed Income Fund||0.60%|
|IDR Equity Fund||2,10%|
|IDR Balanced Fund||1,65%|
|USD Fixed Income Fund||1,45%|
|USD Prime Global Equity Fund||2,10%|
|USD Prime Emerging Market Equity Fund||2,10%|
|USD Prime Multi Asset Income Fund||1,85%|
Terms & Condition:
You just have to come to our branch to get further details about Future Wealth Assurance.
Period to Study the Policy (Free Look Period)
If you do not agree to the terms and conditions stated in the Policy for any reason, insurance protection can be cancelled within 30 (thirty) calendar days from the Policy Effective Date ("Free Look Period"). For this matter, the Policy automatically becomes null and void from the Effective Date of the Policy and there is no insurance cover whatsoever that is the responsibility of the Insurer to the Insured. The Insurer will return to you the amount that has been paid, no later than within 9 (nine) working days from the Policy Cancellation Request Form received by the Insurer.
Note: In the event that there is a request for payment of the basic Insurance Benefits and/or Additional Insurance Benefits or if you make another transaction regarding this Policy during Free Look Period, hence the Free Look Period will automatically expire.
Terms and Conditions in submitting Insurance Product
Leo (male, 40 years old, non smoker) buying Future Wealth Assurance with details as follows:
Basic Premium : Rp 100.000.000 annually
Sum Assured : Rp 500.000.000
Underlying fund : 100% IDR Equity Fund
Asumsi Pengembalian : 10% per tahun (tingkat investasi sedang)
If there is a risk death from illness at the age of 48, the Insured will receive the following Insurance Benefits.
Policy conditions as follows:
The total benefits to be received by the Insured are:
Death Benefit + Investment Benefits = Rp. 500,000,000 + Rp. 1,326,299,000 = Rp. 1,826,299,000
The Investment Benefit value above uses the investment type IDR Equity Fund assuming an investment rate of 10% per year (moderate investment level), without leaving premiums, and never withdrawing the previous account value. If the assumption of the level of investment used is 5% (low investment level) and 15% (low investment level), the Investment Benefit is Rp 1,039,310,000 and Rp 1,696,128,000.
If there is a risk of death due to an accident on public transportation at the age of 52 years, the Insured will receive the following Insurance Benefits:
Conditions of the Policy as follows:
The total benefits to be received by the Designated are:
Death benefit + Additional Death benefit due to Accident + Additional Death benefit due to Accident caused by Public Transportation + Investment benefit = Rp 500.000.000 + Rp 500.000.000 + Rp 500.000.000 + Rp 2.104.233.000 = Rp 3.604.233.000
The Investment Benefit value above uses the investment type IDR Equity Fund assuming an investment rate of 10% per year (moderate investment level), without leaving premiums, and never withdrawing the previous account value. If the assumption of the level of investment used is 5% (low investment level) and 15% (low investment level), the Investment Benefits are IDR 1,397,722,000 and IDR 3,160,893,000.
MARKET RISK / RISK REDUCTION IN PRIVATE UNIT PRICES
The risk of decreasing investment securities prices due to market price movements can reduce Net Asset Value per Participation Unit.
The withdrawal value (in part / in whole) depends on the liquidity of the portfolio and the amount of withdrawal. If the withdrawal is carried out simultaneously, by almost all or all of the Unit Holders, this can result in a decrease in Net Asset Value because investments in the portfolio must be immediately sold / liquidated to the market in large quantities simultaneously, which can result in a decrease in the value of the investment in portfolio.
RISK OF CHANGES IN ECONOMIC AND POLITICAL CONDITIONS
Changes in economic conditions and political stability in Indonesia can affect investment performance, both investment in companies listed on the stock exchange and companies that issue money and securities market instruments, changes in interest rates, exchange rate fluctuations, macroeconomic changes, and changes in legislation and government regulations in the fields of finance, capital market, money market, banking and / or taxation can affect investment performance.
Policyholders will be exposed to Credit Risk Insurers as risk sellers of insurance products. Credit risk is related to the ability to pay the Insurer's obligations to its customers. The Insurer has managed to maintain its performance to exceed the minimum capital adequacy determined by the Government.
WITHDRAWAL & REDUCTION RISK
Partial withdrawals are not permitted for a certain period. If a policy redemption occurs before the due date, the customer will receive a return in the form of Redeem Value. Redeem Value is calculated based on the calculation of the number of Units that have been formed with the applicable Unit Price, after deducting the applicable costs.
Unless otherwise stipulated based on applicable laws and regulations, withdrawal or redemption policies will be subject to tax according to the applicable laws and regulations.
ACCOUNTABILITY RISK OF MANAGEMENT FUNDS
Risks related to negligence of third parties such as securities brokers (brokers), securities sales agents, custodian banks (custodians), investment managers (fund managers) and force majeure situations (including but not limited to natural disasters, fires, riots and others - other).
EXCHANGE RATE RISK
For insurance products that use foreign currencies, the premiums and benefits that will be paid will use the relevant foreign currency. The amount of policy benefits paid in foreign currencies will depend on the exchange rate prevailing at that time and have the possibility of a high exchange rate difference. Life insurance products in foreign currencies will depend on exchange rate fluctuations, which can cause potential and risk.
The insurance products offered are products of PT AIA FINANCIAL, a Citibank partner. This product is NOT a savings, NOT a deposit, NOT an obligation and is NOT guaranteed by Citibank N.A ("Citibank"), Citigroup or its affiliates. This insurance product is not included in the coverage of the Deposit Insurance Corporation (LPS) guarantee program. The products offered and the use of the Citibank logo are based on Citibank's agreement and as a form of marketing collaboration with the product reference business model between Citibank and PT AIA FINANCIAL and it cannot be interpreted that this insurance product is a product of Citibank.
The policy holder will be exposed to credit risk from PT AIA FINANCIAL. which means that the insurance policy contains a risk where there is a possibility that PT AIA FINANCIAL is unable to pay a certain amount of money due as stated in the insurance policy, which results in the risk of losing part or all of the sum insured and other values as stated in the insurance policy .
Details of benefits, terms and conditions are contained in the insurance policy issued by PT AIA FINANCIAL. Citibank is not responsible for the contents of insurance policies issued by PT AIA FINANCIAL related to insurance products. Buyers of insurance products must read and comply with the terms and conditions as stated in the insurance policy.
There are several conditions where the benefits of insurance cannot be paid. This is stated in the Exclusion provisions stated on the insurance policy. Customers are advised to read the insurance policy to get more complete information about this exclusion list.
If you are in doubt, you should consult with people who are experts in their fields. But if you are choose not to do it, then you are fully responsible for ensuring that this product is in accordance with your insurance needs and goals.
Insurance products are products that require long-term commitment. Termination of insurance before the time can cause high costs and the redemption value to be received can be smaller than the total premium paid.
Citibank, Citigroup, Inc., its affiliates and Citibank employees are not in the capacity to provide / provide legal or taxation opinions to taxpayers outside of Citibank, Citigroup, Inc. and affiliated affiliates.
Insurance products offered through marketing cooperation between Citibank and the Insurance Company have been reported and / or obtained an affirmation letter and / or approval from the Financial Services Authority and related authorities.
Citibank N.A., Indonesia is a bank that has a business license, is registered and supervised by the Financial Services Authority (OJK). PT AIA FINANCIAL is one of the leading life insurance companies in Indonesia that is registered with and overseen by the Financial Services Authority. This product has been authorized by the Financial Services Authority.