According to the DBS-Manulife Future Ready Survey 2022, which was conducted among the wealthy by DBS Treasures from Bank DBS Indonesia and Manulife Indonesia Life Insurance, many Indonesians have strong aspirations to purchase insurance to protect their future but have not yet made a decision to do so.
The survey results demonstrate:
Protection against retirement: 75% of respondents wish to set aside the necessary retirement funds. However, just 34% of people have insurance that can serve as a retirement plan, such as an annuity plan or regular cash payments.
Health protection: Only 37% of respondents had insurance, and 63% of respondents are worried about rising medical costs over the next 30 years. In reality, 72% of people who have serious illnesses that may prevent them from working genuinely expect a spouse to support them financially in the event that they are unable to work.
Costs of school: While 75% of respondents intend to save for education, just 67% believe they have saved enough money.
Only 64% of respondents who are parents and who intend to leave a lasting legacy have life insurance as part of their legacy plans, according to a survey on legacy planning.
Customers can create significant bequests for themselves and their loved ones starting with bancassurance products for health, critical illness, life/legacy, retirement, and children's education, according to Mr. Djoko Soelistyo, head of Investment and Insurance Products at Bank DBS Indonesia.
According to the DBS-Manulife Future Ready Poll 2022 survey, it is evident that there is a strong desire to have better protection, but there is a gap in behavior towards this desire, according to Ms. Amy Gochuico, chief bancassurance officer of Manulife Indonesia.
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