Jakarta, 18 August 2011 – In response to the high demand for life insurance investment-linked (unit linked) products, PT CIMB Sun Life (CIMB Sun Life) – a joint venture company between CIMB Group, PT Bank CIMB Niaga Tbk (CIMB Niaga) and Sun Life Financial Inc. – launched a new innovative single premium unit product; Asuransi X-Tra Premier Investa for CIMB Niaga’s customers. The innovation of this product comes from its investment mechanism - Constant Proportion Portfolio Insurance (CPPI), which locks the customers’ fund at the highest investment target for the first 8 years (observation period) from the 10-year policy. Through this mechanism, CIMB Sun Life’s Investment Manager will help customers achieve their highest investment return at the end of policy period.
As a unit link product, Asuransi X-Tra Premier Investa offers two benefits in one product; Maturity Benefit and Death Benefit. The Maturity Benefit provides an amount of the investment fund value at the policy maturity date and the amount is estimated to be no less than the highest unit price during the 8-year observation period. The policy holder can also enjoy the investment fund (before the maturity date) at anytime he/she needs it. Meanwhile, the Death Benefit provides a sum assured at 150% of the basic premium and investment fund value, if any, should the insured, for any reason, pass away during the policy coverage period.
“Asuransi X-Tra Premier Investa is a unique and different product compared to other unit link products in the market having its CPPI mechanism. This product is suitable for customers who want to achieve a high investment goal,” said Vivien Kusumowardhani, President Director of CIMB Sun Life. “We believe that this product will be well received by the CIMB Niaga’s customers. Together with other CIMB Sun Life’s products, Asuransi X-Tra Premier Investa will support CIMB Sun Life’s solid commitment of growing its business in Indonesia, and providing customers with our best products and services,” added Vivien.
Meanwhile, Budiman Tanjung, Head of Preferred, Private and Wealth Management CIMB Niaga said that CIMB Niaga welcomes this new product. Asuransi X-Tra Premier Investa gives answer to CIMB Niaga’s customers on product with strong and reliable investment mechanism. ”Customers who have high financial goals in the future now can plan and achieve their goals by having this product. CIMB Niaga continuously supports product innovations that provide customers with the opportunity to realise their future goals in life.”
The Asuransi X-Tra Premier Investa product, which can be obtained without any health requirement, is now available in all branches of the CIMB Niaga in Indonesia.
For more information please ctact:
Head of Marketing & Corporate Communications
PT CIMB Sun Life