Jakarta, CNBC Indonesia – A number of customers who are victims of unit link insurance held a meeting with Commission XI of the Indonesian House of Representatives to submit their complaints about the insurance product linked to investment (PAYDI).
Teti Marpaung, a Prudential insurance customer who has had a policy since 2013. Long story short, before the pandemic occurred in early 2020, the cash value in the policy was only Rp. 0. That fact was immediately asked to the agent. leader which is related to it.
From explanation leader It is known that the decrease in cash value was due to costs imposed by the head office.
“This is theft, I said. Why weren’t we informed about the risks and costs at the beginning?,” said Teti in the meeting, Monday (6/12/2021).
The insurance company said that at this time it would investigate and escalate the report submitted by Teti. However, until the end of 2021, there are still no results.
The report was continued to the Financial Services Authority (OJK) of North Sumatra. However, until now he still has not received clarity from the OJK regarding the continuation of this problem.
Agus Gunawan, an AXA Mandiri customer, also experienced the same thing. He admitted that he joined the unit link product because he was lured with health insurance products, plus the investment offered by the ‘insurance retailer’ to him.
He revealed, the investment funds in the insurance will be used to finance his son’s college later. But unfortunately because of the losses he experienced, the funds could not be used properly.
“At the beginning they were policy retailers, I said so, saying this is an investment that will continue to grow over time while your health and soul are protected. How powerful those words were that finally we were interested in buying a policy. Already bought a policy at the end of the first year, last year second, third year must top up I don’t know where it matters top up but we pay, I have never been delayed in payment,” he explained on the same occasion.
After the sixth year, Agus found that the cash value of his policy had decreased in value. However, at that time the insurance company revealed that the decline in value occurred because of the declining stock market conditions, so there was still potential for an increase.
This calmed Agus down and continued his policing until the 10th year.
However, exactly in the 121st month or 10 years more than a month, Agus decided to close his police. However, it turned out that the cash he had had dropped by 80% or reached Rp 180 million.
“That’s extraordinary. And their reasons are also weird, first they said the stock price was going down. I said where it came from, when I opened the JCI policy of 2,900, when I wanted to close the policy it was 6,000. That doesn’t reflect the stock price going down, ” he insisted.
Because of this frustration with the product, Agus asked OJK to review the product again unit link This is because it is clearly detrimental to society. If necessary, the license for the product is revoked.
“Please delete it unit link that,” he said.
(mon / miq)
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