GREAT Prestige Optima Protector

Catatan: 

• Insured Entry Age: 14 days – 80 years 
• Policyholder entry age: 18 years – 99 years
• Age Calculation Method: Next birthday method
• Sum insured: 
  • Minimum : 1.5 X of Single Basic Premium 
  • Maximum : 5 X of Single Basic Premium 
• Insurance Period: Until the Insured is 99 years old
• Premium Payment Period: Single Premium is paid in one lump sum 
•  
• Premium Terms: 
  • Single Basic Premium:
    • Minimum: Rp. 50,000,000
    • Maximum: in accordance with underwriting provisions
• Withdrawal of Funds: Partial withdrawal is allowed after the Policy has been active for 2 years. 
  • The minimum withdrawal amount is IDR 10,000,000. 
  • Any withdrawal of funds will be taken from the Cash Value, with the following conditions:
    • The guaranteed return period remains 3 years: 
      • Partial withdrawals made from the beginning of the 3rd (third) Policy Year will be subject to a withdrawal fee and will not reduce the Sum Insured. The maximum partial withdrawal amount is 60% of the Single Basic Premium, with a minimum Total Cash Value balance after the withdrawal of IDR 50,000,000.
      • Withdrawals made starting from the 4th (fourth) policy year will not be subject to withdrawal fees, but will reduce the Sum Insured and then the Sum Insured will be reduced by the amount of the withdrawal made by the Policyholder. The minimum Total Cash Value balance after withdrawal is IDR 50,000,000.
    • The guaranteed return period remains 5 years
      • Partial withdrawals made from the beginning of the 3rd (third) policy year to the 5th (fifth) policy year will be subject to a withdrawal fee and will not reduce the Sum Insured. The maximum partial withdrawal amount is 60% of the Single Basic Premium with a minimum Total Cash Value balance after the withdrawal of IDR 50,000,000.
      • Withdrawals made starting from the 6th (sixth) policy year will not be subject to a Withdrawal Fee, but will reduce the Sum Insured and then the Sum Insured will be reduced by the amount of the withdrawal made by the Policy Holder. The minimum Total Cash Value balance after withdrawal is IDR 50,000,000.

     

  • Policy Redemption : Policyholders may submit a written request to the Company to redeem the Policy or withdraw the entire Total Cash Value. Upon request to redeem the Policy, the Company will pay the Total Cash Value available in the Policy upon approval of the Policy redemption, minus the Policy Redemption fee (if any), and the Policy will then expire.
• Costs: 
  • The Initial Charges charged to the Policyholder for Single Basic Premium are as follows:

• Administration Fee : Administration Fee will be deducted every month the Policy is renewed and will be taken from the Total Cash Value in the amount of = 0.1% per year of the Total Cash Value divided by 12.
• Insurance Costs:  Insurance costs are calculated based on the Risk Coverage Amount, Insured's Age, Insured's gender on each Policy anniversary date as long as the Policy is still valid.
• Withdrawal Fee:  Policyholders will be charged a withdrawal fee according to the selected guaranteed return period as follows:
• The guaranteed return period remains fixed for 3 years.

The guaranteed return period remains fixed for 5 years.

• Redemption Fee : Policyholders will be charged a Policy redemption fee according to the selected guaranteed return period as follows:
• The guaranteed return period remains fixed for 3 years

Police Year	% of Total Cash Value
1 - 3	2%
4 +	0%




Police Year	% of Total Cash Value
1 – 5	2%
6 +	0%

    

GREAT Prestige Optima Protector is an 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 GREAT Prestige Optima Protector product and the contents of the insurance policy issued for the GREAT Prestige Optima Protector product, so the Bank is not responsible in any form for the GREAT Prestige Optima Protector product and the contents of the policy issued in connection with the GREAT Prestige Optima Protector product. The GREAT Prestige Optima Protector product is not a bank deposit product, thus it is not included in the government guarantee program or the Deposit Insurance Corporation. The premium paid by the Policyholder includes acquisition, administration, fund management, bank commission and marketing staff commission (if any). The information in this document must be read and subject to the policy provisions and other provisions related to the GREAT Prestige Optima Protector product that are currently in effect or any changes thereto in the future.