IDAMAN INSURANCE

Protecting against the unpreditcable and the unexpected.

Financial wellbeing is what every employee or member of an association desires, but ensuring that wellbeing is not the sole responsibility of the company or organization they work for.

Both parties benefit: the employee through seeing his or her financial security protected; and the company through having a motivated, loyal workforce that is confident about the future. Therefore both parties should share the responsibility.

Every employee faces different kinds of risk, such as:

• Risks that are inevitable but whose timing is unpredictable (Death).
• Risks that are inevitable and foreseeable (old age/retirement).
• Risks that are unforeseeable but possible (Termination of Employment [PHK], resignation or dismissal).

To prevent financial/material losses as the consequence of these risks Bumiputera has created an insurance product called the
Collective Life Insurance Idaman (Iuran Dana Mantap).

This insurance comprises elements of savings and protection. The savings element provides more progressive fund accumulation than insurance products in general. The sum insured increases from year to year, so that the longer someone is a member, the higher the protection they will receive through this program.

Collective Idaman Life Insurance Program (Iuran Dana Mantap) is life insurance providing protection in case of death for specified periods up to a maximum of 30 years, as well as providing funds in terms of cash value accumulation that increase progressively from time to time.

The benefits provided are:

• Consolation Money: If the member passes away during the insurance period, the beneficiary will receive the consolation money and cash value at that time. The sum insured increases every year by 50% of the initial sum insured, starting from the second year.
• Cash Value Benefits: If the member leaves the program then he, the policyholder, will receive the Cash Value according to the table of premium allocation, based on the latest premium paid.

This Insurance Program can be used for companies, foundations, cooperatives, organizations or education institutions in which students require the fund to finance field activities or to accomplish final assignments before the end of study.

The Insurance premium program is calculated on the desired Initial Sum Insured. The premium can be paid monthly, quarterly, semi-annually or annually.

 

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