Life Insurance Industry Pays Rp 74.66 Trillion in Claims in the First Half of 2021

The Indonesian Life Insurance Association (AAJI) recorded that the domestic life insurance industry paid out Rp 74.66 trillion in claims and benefits in the first half of 2021. This figure represents a 6.1% increase compared to the same period in the previous year, which amounted to Rp 70.36 trillion.

Specifically, the largest amount of claims paid in the first half of this year was for surrender value, totaling Rp 43.55 trillion. This figure shows a 2% growth compared to the same period last year, which was Rp 42.29 trillion.

Claims paid for partial withdrawals reached Rp 9.77 trillion from January to June 2021. This amount increased by 38% compared to January-June 2020, which reached Rp 6.07 trillion.

Claims paid due to death totaled Rp 7.84 trillion from January to June 2021. This figure increased by 42.6% compared to January-June 2020, which amounted to Rp 5.50 trillion.

Claims paid for individual health insurance grew by 26.8%, from Rp 2.28 trillion to Rp 2.89 trillion. Meanwhile, claims paid for group health insurance decreased by 14.5%, from Rp 2.95 trillion to Rp 2.52 trillion.

Claims paid for matured contracts amounted to Rp 4.82 trillion in the first half of 2021, a decrease of 77% compared to the same period in the previous year, which reached Rp 8.55 trillion. Meanwhile, claims paid for other benefits grew by 21%, from Rp 2.74 trillion to Rp 3.48 trillion.