Simplifying Retirement Planning to Honor Your Dedication

The Severance Program is a flexible product where Policyholders may determine the premium amount to receive benefits commensurate with the payment, or alternatively, define the desired benefits and pay the corresponding premium. This product is applicable for employee retirement schemes and other programs.

– Provides peace of mind for both the Company and its employees;
– Life insurance coverage for death by any cause;
– Delivers optimal investment returns.

The Severance Program by PertaLife Insurance is specifically designed to ensure the Company remains financially prepared to meet its severance obligations upon termination of employment, complying at a minimum with Undang-Undang No. 13 Tahun 2003* or applicable Company regulations. Beyond severance payments, the Severance Program can also be utilized for other employee recognition and reward initiatives.

*) Undang-Undang No. 13 Tahun 2003 or Law No. 13 of 2003 serves as the labor law foundation governing the relationship between companies and employees. The objectives of the law include equalizing employment opportunities, ensuring labor protection, and improving welfare.

 

BENEFITS

– Timely availability of funds or severance pay;

– Death insurance benefits;

– Provides optimal investment returns;

– Enhanced employee motivation through guaranteed fund security.

 

KEY FEATURES

• – Optional riders for supplementary coverage, including: Personal Accident, Hospital Cash Plan, and Critical Illness;
  – Flexible premium payment options (quarterly, semi-annually, or annually);
  – Top-up premium facilities available;
  – No surrender charges;
  – Denominated in Indonesian Rupiah (IDR);
  – Customizable to align with various Corporate objectives for employee benefits;
  – Annual Actuarial Valuations performed by professional actuaries to determine the Company’s future liability;
  – Regular fund performance reports, accessible online;
  – Managed by a Joint Investment Committee (investment team).

FUND INVESTMENT

PertaLife Insurance’s investment management is conducted in collaboration with leading investment managers who have direct access to global investment resources.

The funds are administered through a reputable Custodian Bank.