kripik-pisang
Well-Known Member
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- Jun 27, 2022
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"in Indonesia you purchase the insurance via the agent where the agent take a fat cut"
Agents in the west also take a fat cut.
Agents in the west also take a fat cut.
INFORMATION AND COMMUNITY FOR EXPATS IN INDONESIA
A problem with a healthcare insurance company
- Thread starter Samoerai
- Start date
Since when?
I've never been asked or handed over any of my banking details for any of my visa kitas imta bjps or even npwp dealings ?
Yes, I saw posts like this in FB. Discussions and arguments saying foreigners with kitap-spouse or kitap-retirement can enroll in BPJS. Arguments from so-called experts (WNA) in forums, saying it is not only possible, but policy ... in Bali. For those WNA enrolling in BPJS is a blessing, because BPJS is cheap compared to other insurance companies.
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The secret for getting BPJS on KITAP and not working is whether or not your spouse has BPJS. If they have it you just sign up under them, if they don't have it, then they don't want you getting it either. Was told no more than once but once my spouse signed up, I requested to be added to hers, it went through immediately. I never had to give any banking information. We just pay the bill every month through the banking app. Just had a recent hospital stay that they covered 100%. No complaints about the care I received.
I will try to apply for BPJS. I first have to change my KITAP-spouse and KTP(-WNA) to my new address in Jakarta.
True in limited cases but there is a difference. In countries with well-developed financial systems, the fees and commissions for brokers are highly regulated.
For instance, in Europe, there is the European Directive (EU) 2016/97 on insurance distribution, known as the Insurance Distribution Directive (IDD). This directive requires that agents/brokers must act in good faith and in the best interests of the insured at all times.
"The broker must account for any secret profit that they make, and they are not allowed to put themselves in a position in which their interest and duty conflict.
More specifically an agent must not acquire any profit or benefit from the agency agreement without the insured's knowledge, other than that contemplated by the insured at the time they entered into the contract. Where a broker is found to have breached a fiduciary duty, anyone knowingly assisting in the breach of that duty - such as an insurer - can also be held directly liable to the insured."
Sometimes, you observe that agents receive relatively high commissions, but this is typically only for a short duration during the campaign or promotional period. This is already accounted for in the advertising budget. Not to mention, insurance is a recurring business that might also involve multi-year schemes. Therefore, it remains a sensible business model if the limited period of high commissions is controlled and included in the model. Even if there is a loss in the first year due to the high initial commission, the owner will still profit from the subsequent years.
Additionally, not to mention it is highly unlikely that you will be able to bribe the people working as watchdog, investigator, supreme court, criminal agency as all of the cases are open to public scrutiny. Therefore, any irregular issues could easily be revealed by the press and become a public attention. That is why you do not see a lot of cases like the case below, especially for the most profitable insurance product, life insurance linked to investment.
Kresna Life insurance
Wanartha Life
Indosurya Life
Sinarmas MSIG life
Jiwasraya
Bumiputra
You will notice that in some cases of these Ponzi pyramid schemes in Indonesia, most parties are colluding. If all parties are colluding, who is left to protect the consumer? Credit to the current president Joko Widodo that in significant cases of insurance/investment fraud, the current Indonesian president ordered a full investigation in an effort to restore public confidence. Some of them are now in jail.
You will often see in this forum new members people with very few posting history are posting info about life insurance link with investment product. But I keep reiterating that not all of the insurance product are non trustworthy, there must be some of them are genuine and run on a robust business model. The only one who could protect people is their common sense and conducting their own due diligences (DDs).
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MamangDudul
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- Nov 14, 2019
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- 463
Yeah, just try to get it. So far I have never had much trouble with them. It seems to depend on the area though. Maybe the area that produces the highest deficit gives people the most trouble. That would be Jakarta I guess.
Anyway they cover a lot of things and the "limits" to what they cover are often much higher than I thought. It might be useful/important someday.
Hmmm, then maybe I should apply for BPJS now, when my adress is still in Cikupa/Tangerang?
MamangDudul
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- Nov 14, 2019
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I don't know if it makes much difference, cause it's basically the same area. I don't even know if my theory is true though, i just puzzle it together from what I hear from people and read.
Are you married to an Indonesian citizen? If so, you often have a better chance if she already has BPJS. Then make sure you are on her KK with her as head of the family. But yeah, take all of that with a grain of salt. In the past they seemed to be much more tolerant. Now it's kinda a lot of luck if you can get it. Like so many things there seem to be clear rules but then again nothing is clear at all at the same time. Like I mentioned in other discussions, I think who they allow or not is based on their deficit. I also had my troubles first, but eventually they took me in.
It's worth a try.
Used to be base 3% commission on AP + override on offshore monthly plans.
So if you did a 10year saving plan $1000 a month my basic commission was $3600 + my override 140% so 3.6 x 1.4. Plus the annual fee 1%.
So over $5000
And I only had to make sure you paid for the first 13 months
Lump sum 5 or 6% plus amf 1-2%
Then put it all into a bond or trust. Get another 5+% and 1%.
Or Gear it x2
So if you did a 10year saving plan $1000 a month my basic commission was $3600 + my override 140% so 3.6 x 1.4. Plus the annual fee 1%.
So over $5000
And I only had to make sure you paid for the first 13 months
Lump sum 5 or 6% plus amf 1-2%
Then put it all into a bond or trust. Get another 5+% and 1%.
Or Gear it x2
Yes, I am married to a WNI and she has BPJS (also Allianz since last year). She has her KK (with address of our house in Tangerang) and recently I have my KK (with address of our house in Tangerang). So, we are not on one KK. We want to change that to one KK (with our address in Jakarta).
MamangDudul
Well-Known Member
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- Nov 14, 2019
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- 463
Yes so if you already have this plan, maybe you should apply after that. If you have one KK later, it would be good if she is head of the family. So yeah you would be together on her KK.
That's another thing again, some even say that is not possible. For me being on my wifes KK worked without a problem. That's what is often so difficult here, with some things you never know what's gonna happen, depending on who you deal with. Yeah, just try. It might all end well.
I just got an e-mail from this insurance company, saying before they can transfer back my premiums , I have to return my 'polis'.
???
It's a paper document, this company sent to me at the start of my insurance.
Why they need this document back?
Like, I would go to the hospital when I am sick, with this polis, faking that I still have an insurance.
It's again proof that "nobody here trust each other".
???
It's a paper document, this company sent to me at the start of my insurance.
Why they need this document back?
Like, I would go to the hospital when I am sick, with this polis, faking that I still have an insurance.
It's again proof that "nobody here trust each other".
Take a copy?
I think it was a joke .. to make a copy of the polis, so I can still fake at the hospital that I have an health insurance.
It would probably work until the claim got rejected and then they started chasing you
Yesterday I returned my 'polis' to Customer Service. They also needed my 'bank book' to make a copy. I asked why? It's policy, he said. Luckily I brought all my Indonesian paperwork, including my bank book. Still wondering why they needed my bank book, though.
I presume you mean the little account book that you still get with some accounts, such as at BCA. That sounds extremely dodgy and i would never let anyone copy it, even in the bank. There is zero reason for this.
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