Economics & Macro

Lite

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Nabilah Muhamad 13/02/2025 18:01 WIB

Bagikan URL has been copied

Memuat...

An Inventure survey reveals several ways young middle-class people reduce their insurance expenses.

How Young Adults Respond to Assigning Insurance Amidst Deteriorating Financial Conditions (September 2024)

A Font Kecil
A Font Sedang
A Font Besar

Access single data

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Want to get more access to Data Stories with a more affordable price? Subscribe.

By subscribing, you join us in presenting quality data.

Get:

Premium Data Stories access
Comfortable reading without ads
Download data in XLS, PDF, and image format
Access to data source information

Basic

~~Rp100.000~~

Rp50.000/month

Professional

~~Rp100.000~~

Rp150.000/month

Institutional For organizations

We accept the following payments:

Some payment methods are still in the process of being activated.

How Young Adults Respond to Assigning Insurance Amidst Deteriorating Financial Conditions (September 2024)

Download

Source

A Small
A Medium
A Bigger

An Inventure survey reveals that insurance is one of the financial items being cut by young Indonesian middle-class individuals to reduce their expenses. This is due to the declining economy, particularly purchasing power.

A number of Gen Z and millennial respondents feel that insurance is not a priority because they already have BPJS Kesehatan (Indonesia's national health insurance). 43% of respondents stated they felt sufficient with BPJS coverage.

20% of respondents are trying to reduce their insurance spending but are maintaining the most essential policies.

Another 11% of respondents are cutting insurance expenses outside of BPJS and considering switching to more affordable insurance plans.

Furthermore, 10% of respondents have stopped spending on insurance outside of BPJS, and 4% are only maintaining vehicle insurance, considering it the most essential.

The Inventure survey involved 450 middle-class respondents, consisting of 60% millennials and 40% Gen Z. The gender composition was 53% male and 47% female.

Data collection was conducted through face-to-face interviews in Jabodetabek (Greater Jakarta), Semarang, Surabaya, Medan, and Makassar in September 2024.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

Related Data

Top 5 Regions with the Highest National Spending on Beauty Products

Percentage of Indonesian Healthcare Spending for Disease Prevention in 2025

Social Security Coverage for Indonesian Citizens Still Low in 2025, Here Are the Types

Young Indonesians Using Mobile Phones Continues to Grow Until 2025

Types of Health Insurance Widely Held by Indonesians in 2025

More Young Indonesian Entrepreneurs That Haven't Completed Elementary School by 2025

Latest Data Stories

Indonesian Rupiah Weakens to Rp 16,660 per US Dollar (Tuesday, May 13, 2025) Market 24/12/2025, 17:40 WIB

10 Regions in Indonesia with the Cleanest Air This Afternoon (24/12) Consumer Services & Health 24/12/2025, 17:33 WIB

Bali Provincial Minimum Wage Increases by 7.04% in 2026 Employment 24/12/2025, 17:24 WIB

Area of Palm Oil Land Owned by State-Owned Enterprises in West Java, 1996-2010 Agroindustry 24/12/2025, 17:21 WIB

Jakarta Minimum Wage Increases by 6.17% in 2026 Employment 24/12/2025, 17:16 WIB

The price of branded packaged cooking oil in Gorontalo Province's traditional markets has remained unchanged for the past month. Economics & Macro 24/12/2025, 17:15 WIB

Download

Source

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Tags

Related Data

Top 5 Regions with the Highest National Spending on Beauty Products

Percentage of Indonesian Healthcare Spending for Disease Prevention in 2025

Social Security Coverage for Indonesian Citizens Still Low in 2025, Here Are the Types

Young Indonesians Using Mobile Phones Continues to Grow Until 2025

Types of Health Insurance Widely Held by Indonesians in 2025

More Young Indonesian Entrepreneurs That Haven't Completed Elementary School by 2025

Latest Data Stories

Popular Data

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Goyah Economy: Middle-Class Young People Cut Back on Insurance Spending

Tags

Related Data

Top 5 Regions with the Highest National Spending on Beauty Products

Percentage of Indonesian Healthcare Spending for Disease Prevention in 2025

Social Security Coverage for Indonesian Citizens Still Low in 2025, Here Are the Types

Young Indonesians Using Mobile Phones Continues to Grow Until 2025

Types of Health Insurance Widely Held by Indonesians in 2025

More Young Indonesian Entrepreneurs That Haven't Completed Elementary School by 2025

Latest Data Stories

Trending Topics

Popular Data