Group Credit Life Insurance - Step Up Installment

Step Up Installment Credit Life Insurance is a financing life insurance product from Great Eastern Life Indonesia that provides protection in the form of payment of the remaining loan balance to the customer in the event of the risk of death of the customer.

Main benefits: 

• Life protection in the form of insurance benefits 

Notes: 

• Insured Entry Age: 20 (twenty) years – 55 (fifty five) years
• Where: Entry Age + Tenor ≤ 65 (sixty five) years.
• Age Calculation Method: Last Birthday.
• Premium Payment Method: Single Premium based on loan amount, age and term
• Currency: Rupiah
• Underwriting Terms: Full Underwriting
• With risk selection decisions:
  • Accepted standards
  • Accepted with additional premium
  • Rejected
• Insurance Period: 10 (ten) - 25 (twenty five) years.
• Policy Study Period: 14 (fourteen) calendar days after the policy is received by the Policy Holder.
• Sum insured:
  • Minimum: Rp. 300,000,000 (three hundred million rupiah)
  • Maximum: subject to Underwriting provisions
  • Aggregation is applied to the same product (credit life insurance).
• Police Waiting Time: no waiting time.

Group Credit Life Insurance for Step Up Installment is a Financing Life Insurance product that provides a Decreasing Sum Assured Benefit if the Participant experiences the risk of death.

This product is a single premium with an insurance term of 10 to 25 years. Age is calculated based on the age at the last birthday. 

This product has received approval from the Financial Services Authority.

For further information regarding the benefits available in this product including exclusion conditions, please contact us at the address, telephone number and email provided, or visit  www.greateasternlife.com/id

Disclaimer:

Group Credit Life Insurance for Step Up Installment is a life insurance product owned by PT GREAT Eastern Life Indonesia ("GREAT Eastern Life Indonesia"), not a product of PT Bank OCBC NISP, Tbk ("Bank") and the Bank is not an insurance agent or insurance brokerage company of GREAT Eastern Life Indonesia. GREAT Eastern Life Indonesia is fully responsible for the Group Credit Life Insurance product for Step Up Installment and the contents of the insurance policy issued for the Group Credit Life Insurance product for Step Up Installment, so the Bank is not responsible in any form for the Group Credit Life Insurance product for Step Up Installment and the contents of the policy issued in connection with the Group Credit Life Insurance product for Step Up Installment. The Group Credit Life Insurance product for Step Up Installment is not a bank deposit product, thus it is not included in the government guarantee program or the Deposit Insurance Corporation. The premium paid includes acquisition fees, administration, fund management, bank commissions and marketing staff commissions (if any). The information in this document must be read and subject to the provisions of the Policy and other provisions related to the Group Credit Life Insurance product for Step Up Installment that are currently in effect and any changes thereto in the future.

Contact Us

Customer Contact Centre

T : (021) 2554 3800 (Monday-Friday, 09.00 am - 05.00 pm)
email : wecaregroup-ID@greateasternlife.com

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Menara Karya 5th Floor 
Jl. HR Rasuna Said Blok X-5 Kav. 1-2
Jakarta Selatan 12950 Indonesia