EKAWAKTU INSURANCE

Protecting your employees' families, and yourself, in case of unexpected tragedy.

The AJB Bumiputera 1912 "Ekawaktu" product is a pure non-savings insurance protection program, which applies for a specific period of time, and protects against the financial implications caused by the death of an employee.

If an employee/member of company/organization dies, both his/her family and the company/organization where he/she works can suffer. For the bereaved families, the death can affect the family's welfare, whereas for the company, it represents a loss of skilled labor and the need for expensive recruitment and training.

Considering the possible financial losses due to such a death, a wise manager or leader will organize a protection program for employees/member of families to anticipate the risk for all parties.

Collective Ekawaktu Life Insurance is an insurance program providing protection against the risk of death.

If the participant passes away during the insurance period, his/her legatee will be paid compensation equal to the agreed Insurance Coverage (UP). If the participant lives until the end of the insurance period, there will be no payment to him/her.

Insurance Coverage
The amount of Insurance Coverage for the respective participants is based on their needs and capability to pay premium.

The Insurance Coverage can be:

• Nominal (Rupiah)
• Related to Salary.
• Related to Employment Period and Salary
• Related to required Costs.

Program Application
This insurance program can be applied for long-term protection (more than a year) and short-term protection (less than a year)

Long-Term Protection (more than 1 year)
Participants protected for terms of more than 1 year generally comprise:

• Company Employees
• Members of Organization
• Associations

Short-Term (less than 1 year) Protection
Short-term protection is provided generally for participants involved activities such as:

• Seminar/workshop/course (Participant/Committee)
• Competition (Player and Audience)
• Travel (Participant or Committee)
• Picnic/Recreation (Participant, Visitor, and Organizer)
• Guest of Hotel/Inn (Guest and Manager)

 

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