PT Asuransi Jiwa Manulife Indonesia, in collaboration with Bank DBS Indonesia, has introduced Manulife Protection Optimum Elite (Manulife PRIME), a life insurance product aimed at enhancing estate value while maintaining liquidity. This launch reflects the companies’ commitment to addressing the complexities of cross-generational financial planning.
The wealth management landscape is shifting due to a new generation of wealthy individuals. In 2024, global wealth among high-net-worth individuals rose by 4.2%, and their numbers increased by 2.6%. It is projected that Gen X, millennials, and Gen Z will inherit approximately USD 83.5 trillion by 2048—a phenomenon known as the great wealth transfer. In Indonesia, data from the Supreme Court shows over 22,000 inheritance disputes in 2024, highlighting the need for clear asset distribution mechanisms.
Manulife PRIME aims to provide clarity on benefit distribution through insurance contracts, reducing conflict potential and speeding up inheritance distribution to beneficiaries. The product offers increasing protection benefits over time with coverage options until ages 75 or 100. Customers can receive significant death or maturity benefits depending on their chosen plan.
Novita Rumngangun, Vice President Director & Deputy CEO at PT Asuransi Jiwa Manulife Indonesia stated: “Manulife PRIME is the embodiment of our mission to make life decisions easier and more meaningful for our customers.”
Bank DBS Indonesia supports this initiative as a distribution partner through its comprehensive banking ecosystem. Melfrida Gultom, Consumer Banking Director PT Bank DBS Indonesia explained: “As a trusted partner for wealth management…we assist customers in building, managing and passing down wealth sustainably across generations.”
Manulife PRIME is accessible to individuals aged between 30 days and 70 years old with flexible premium payment options available. It also includes premium financing through Bank DBS Indonesia for optimal protection and financial planning flexibility.
For further details about Manulife PRIME products, interested parties are encouraged to contact Manulife Indonesia Insurance Specialists at local Bank DBS branches or visit their website.
