GROUP INSURANCE

Ekasejahtera


Ekasejahtera is a group life insurance program combined with saving (endowment). This program is one of the employee benefit programs designed to meet the need of company in preparing the working fee payment for employees as stipulated in the Law on Manpower.

Advantage for the Company/Employer

The reservation of severance pay is planned, measured and efficient. During the reservation period, the fund is fully 100% controlled by the company/employee. The funding is provided with complete facilities to fulfill the Law on Manpower since the company's cashflow becomes more stable, avoiding the possibility of sudden severance pay payment such as the death of employee or permanent total disability. The fund invested can provide more optimal yields, so that the fund can be developed rapidly to reach the expected amount of layoff rights

Advantage of Employee

The certainty of the availability of the Rights of Terminated Employee will make the employee feels more secure and appreciated, therefore indirectly foster loyalty to the company among employees. The payment of the Rights of Terminated Employee that includes pension is payable on a lump sum basis in terms of cash.

Other Advantage

The management of pension funds that are transferred to life insurance companies is only regulated for an annuity product and no regulation beyond that. In principle, since the pension funds are managed by the insurance company, it will be referred to as insurance premiums, so that it can no longer be deducted from the employee's income as the pension dues. From the employer's perspective as stipulated in the latest tax regulation No. 36 of 2008 article 9 paragraph 1 d, the taxable income cannot be deducted from the life insurance premium unless the premium is calculated as the income of the respective taxpayer.

Benefit Payment

The benefit payment or the partial fund withdrawal for the payment of the rights of Terminated Employee can be made upon:

  1. Employee entering the pension age
  2. Employee passing away
  3. Employee suffers from total permanent disability
  4. Termination of employment or resignation.