FWD Life Launches Sharia Life Insurance Product BEBAS IKHTIAR

  • BEBAS IKHTIAR is a testament of FWD Life’s commitment to grow sharia life insurance market in Indonesia 
  • Supported by digital technology innovations, BEBAS IKHTIAR will support the public in preparing insurance and investment while making donation in easy approach

Jakarta, November 25, 2016 – PT FWD Life Indonesia (“FWD Life”) today launches its first comprehensive life insurance unit-linked sharia product, “BEBAS IKHTIAR”. The product allows everyone, regardless of religious backgrounds, to prepare insurance protection and long-term investment while helping others through a systematic donation feature to support customers when making almsgiving. With FWD Life’s digital technology, customers can also enjoy an insurance experience that is simple, convenient and transparent in accordance with Sharia principles.

FWD Life President Director, Rudi Kamdani explained that the OJK’s Non-Bank Financial Institution (NBFI) Sharia Roadmap has identified the current strategic issues in the sharia industry, including product innovation and public’s understanding of sharia insurance. To address the issues, FWD Life is taking an active role in developing sharia life insurance market in Indonesia by providing innovative sharia life insurance products based on the sharia market consumer needs to attract more customers in Indonesia.

“We are very grateful with the opportunity to present our sharia product, BEBAS IKHTIAR. We believe this product will be an attractive new option for the public, as it offers not only protection and long term investment, but also provide easiness for customers to make donations to others in a form of zakat, infaq (alms), grant and cash waqf (cash donation),” explained Rudi in Jakarta (25/11).

Rudi added that FWD Life wishes to further contribute to the sharia life insurance industry by providing innovative services and products supported by digital technology. With digital technology innovations, we want to transform the challenges into opportunities to increase insurance penetration since customer will be able to enjoy different experiences through FWD’s paperless sales platform utilized by FWD Life’s insurance agents. This is the first digital sharia experience in the industry, from purchasing to the issuance process, allowing easy, convenient and transparent process for customers.

PT FWD Life Indonesia Chief of Product Proposition & Sharia, Ade Bungsu explained that BEBAS IKHTIAR has three key advantages, namely providing insurance protection benefits, maximizing investment funds with loyalty bonuses and underwriting surplus distribution, as well as providing systematic donation feature to help others based on sharia principles. FWD Life is supported by two credible institutions in Indonesia, Dompet Dhuafa which responsible to manage and distribute donations from our customers in the form of zakat, infaq and cash waqf, and Yayasan Badan Wakaf Indonesia to manage and distribute cash waqf and grant as part of their life insurance benefit. Therefore, BEBAS IKHTIAR product will allow customers to prepare their future financial plannings while saving up for the life in the Hereafter.

Ade also explained further details of FWD Life Sharia insurance product’s superior features. “From the investment side, BEBAS IKHTIAR features opportunity for customers to multiply their investment yields optimally by placing 100% contribution in the investment option from the second year onwards. Our customers can also enjoy the loyalty bonus up to 160% from the insurance contribution starting from the seventh year. Moreover, this product also offers two Investment Fund options, thus giving customers optimal investment benefits. As for protection benefits, Bebas Ikhtiar provides maximum protection up to the age of 100, with additional benefits in case of accident related death,” Ade explained.

Dare To Be Different, FWD Life Collaborates with Barli Asmara

FWD Life is committed to dare to be different in embracing customers and inviting them to pursue their passions without hesitations, in accordance with Sharia principles. Therefore, during the launching of BEBAS IKHTIAR product, FWD Life presents an innovative collaboration with one of Indonesia’s renowned designers, Barli Asmara. The collaboration will take the form of an exclusive scarf specially designed by Barli Asmara for FWD Life customers embracing modern lifestyle with necessary protection plan.

In January 2017, the first 200 customers of FWD Life BEBAS IKHTIAR product will obtain an exclusive scarf designed by Barli Asmara; with Rp 200,000 donations that will be channeled through Dompet Dhuafa and Yayasan Badan Wakaf Indonesia for a number of social activities. With this collaboration, FWD Life BEBAS IKTHIAR customers will be able to enjoy three signature benefits to include optimal life insurance and investment, sharing through donations, all in fashionable manner.

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About PT FWD Life Indonesia (“FWD Life”)
FWD Life Indonesia (“FWD Life”) is a joint-venture insurance company and a member of FWD Group. Products offered include unit-linked insurance, individual & group term life insurance, individual & group personal accident insurance, and group medical insurance through technology driven-distributions such as agency, bancassurance, e-commerce and corporate. FWD Life received a license for establishment of Sharia Unit on 14 July 2015.

In addition to Indonesia, FWD Group spans Hong Kong & Macau, Thailand, the Philippines, Singapore and Vietnam offering life and medical insurance, general insurance, and employee benefits across a number of its markets. Established in Asia in 2013, FWD is the insurance business arm of investment group, Pacific Century Group.

FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by leading digital technologies. Through this customer-led approach, FWD will achieve its vision to become the leading pan-Asian insurer that changes the way people feel about insurance.

FWD Life is registered with and supervised by Otoritas Jasa Keuangan (OJK). For further information, please visit WWW.FWD.CO.ID.

For further information, please contact:
FWD Life
Duhita Rahma Mahatmi (Gandis)
Head of Corporate Communications & CSR
Telp: (+62) 1 500 393
Email: duhita.mahatmi@fwd.com