steviani

I went to Kumon today to get an introduction about their program. The owner told us that Kumon has been established for quite some time. With their years of experience, they can tell and people can see that their way of teaching does work. You can try all new things but experience is the best teacher of all.

So, with my blog today about the Sequis Difference, I am trying to point out what are their difference in comparison with other insurance company.

On the 29th of May 2013, Sequis Life celebrate its 29 years anniversary ^_^ yay….

With 29 years of experience in the life industry, still in a good standing financially and even keep growing steadily in the Indonesian market, Sequis Life is one brand that Indonesian should be proud of.

While other Indonesian insurance company was being taken over by our foreign counterparts, Sequis Life (was Sewu New York Life), has managed to acquire our foreign counterparts market share in the industry. 2 foreign insurance companies market shares being taken over by Sequis are New York Life and Met Life. 2 giants company and even the biggest in America. 

Sequis Life assets currently is around 9 trillion rupiahs when this blog is posted; with an RBC of 276%.  As a company, it means that if all of Sequis Life clients make their claim (100%), Sequis life will still stand strong with an extra 176% capital reserved. RBC exist to protect the firms, their investors and customers, and the economy as a whole.

As one of the company that still sell traditional life insurance products i.e. non unit link products, Sequis Life provide a complete array of products that can be suit to your need and budget. 

List of traditional products that Sequis has :

1. Term life : Superior Term

– Term Life is suitable for people with low budget but want a full protection for their family. It gives cover for 5 years, 10 years, 15 years and 20 years; renewable.

2. Whole Life : Q Smart Life, Life Plan

– Whole Life is suitable for people who is established in terms of income, want a peace of mind in regards to their family protection. There is a saving component in the product. It covers until 100 years old of age.

3. Endowment : Q Edu, Q Uni, New Scholar Plan, Superfund, Retirement Life Plan, Cash Plan

– Endowment is suitable for established people who have that extra money that can be saved to guarantee the future of their kids education or their retirement time. It will give money back to you at certain times in the future, for a period of time, with a guaranteed amount and some offer bonuses.

That is our list of traditional products, now let’s talk about our most favorite talk of all.

As an accountant and a financial planner, I have learned that there are so many people in Indonesia don’t really understand about investment. However, with the current situation where most insurance companies are selling unit link products through banks, brokers and individual agents, the not so knowledgeable customers always claim they got cheated.

My aunt for example, she called me last night telling me how she spend Rp.500.000,00/month on unit linked products which was sold through bank, after a few months of paying, come a statement that say there are only Rp.300.000,00 on the balance if she wants to make a withdrawal.  It doesn’t add up she said.

With traditional products, you pay the premium for a certain period, you are guaranteed being covered for a certain period. On the other hand, with unit linked products, you pay the premium for a certain period, there is NO guarantee for how long you are being covered. It all depends on the value of your units and whether those value enough to pay your insurance premium that cover your health, life, waiver, accident, and critical illness benefits. That is the basic that every customer SHOULD understand though most of them don’t.

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

Is that me? Hahaha… no..I took that picture, the person in the picture is Ines Putri Tjiptadi Chandra, Sequislife Brand Ambassador and Miss Indonesia 2012. We were on the same bus during the 10 days trip.  It was a clear fine day in Niagara Falls, USA side when I took that picture.  Beautiful Ines was teaching me on how to take that beautiful picture. ^_^

What is so special when you get an insurance annual trip awards?

First and foremost, it is totally FREE. We all got 5 years American Visa for free. Free 10 days tour with Smailing Tour, free Sequislife Priviledge 2013 black cabin luggage, free optional tours in the US.

Second and the rest, I just quote what the Tour Leaders considered as special for this Sequislife New York Trip :

2. The bus is equipped with Free Wifi and toilet inside the bus. Free BBM every day yay!!

3. When touring New York City, usually other tours will booked the hotel outside New York City. Sequislife however, is booking Sheraton New York Times Square. Right in the heart of New York City, near the 5th avenue, near to all our shopping needs ^_^

4. Visiting Niagara Falls, Sequislife booked Seneca Niagara Casino and Hotel – 4 Diamonds, 10 minutes walk to Niagara Falls USA side and considered one of the Top Hotels near Niagara. It was a really grand hotel with private casino and shopping arcades.

5. When others are having gala dinner at a hotel, Sequislife took all of its agents and their partners to enjoy a Gala Dinner in a Bateaux Cruise down Manhattan, New York City, passing the Liberty Statue and Ellis Island. Accompany with good musics and the finest food, we all enjoy our night away with song and dance. There are gift away of Apple mini ipad as well on the cruise, free gift from Smailing Tour and some special gifts to everyone from Sequislife.

It was such a wonderful trip and hope to see everyone else again on our next trip to London, Ireland and Scotland in 2014.

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

When you are looking for a health insurance company, you are looking for a partner that you can trust.  PT Asuransi Jiwa Sequislife, in 2010 was awarded as one of Top 50 Indonesia Corporate Brands by Swa magazine. It is a fully owned Indonesian Insurance company who has been serving in the industry since 1984 and has a track record of acquiring 2 Multinational Life Insurance Companies who was running business in Indonesia, i.e. New York Life and Met Life Indonesia which main office are in USA.  Its good running management is lead by Mr. Tatang Widjaja, who was also acknowledge by Warta Ekonomi magazine as one of “Indonesia Most Admired CEO 2011” for the insurance category.  More details regarding the company check its website http://www.sequislife.com .

As an insurance agent we are in a binding contract with the company which we represent to only sell that company products. In this case, I am only allowed to talk about Sequislife products, not other insurance company products. Thus when I said compare health insurance, you readers have to do your homework in comparing the proposals that you have in hand.  For the same price you paid, what benefits will you get?

Let’s start the comparison of proposals you have in hand with Sequislife Health Platinum Rider :

1. Plan based on the daily hospital room and board rate

-> Sequislife plan based on the daily hospital room and board rate in rupiah :

Plan A – 200,000 (taken out from the market in 2012), Plan B – 300,000, Plan C – 500,000, Plan D – 600,000, Plan E – 800,000, Plan F – 1,000,000, Plan F1 – 1,250,000, Plan G – 1,500,000, Plan H – 2,000,000.

One person is entitle to take multiple policy with health platinum riders benefit up to a maximum daily room and board rate benefit of 4,000,000 rupiahs per day, per person.

Admission of an Insured Person as an inpatient into a Hospital for a period of not less than 12 (twelve) hours is taken as 1 day stay. Maximum 150 days per policy year.

2. Lodger Fees for parents / relatives if the person insured is under 15 years old.

Plan B – 100,000, Plan C – 150,000, Plan D – 200,000, Plan E – 250,000, Plan F – 300,000, Plan F1 – 350,000, Plan G – 400,000, Plan H – 500,000.

Maximum 14 days per policy year, benefit above is maximum per day.

3. Medical Report Fees

Maximum 1 medical report per disability, maximum per medical report is 200,000 rupiah.

4. As charged benefits :

I. In-patient Benefits

a. Daily Intensive Care Unit (Maximum 45 days per policy year, maximum per day)

b. Hospital Miscellaneous Services such as :

– general nursing, prescribed and consumed drugs and medicines

– splints and plaster casts

– laboratory and X-ray examinations

– intravenous injections and solutions

– basal metabolism tests

– administration of blood and blood plasma, including the cost of blood and plasma.

c. Surgical Fees

d. In-Hospital Consultation (Includes Doctor and Specialists)

Maximum 2 visits per day, 150 days per policy year.

II. Out-patient Benefits

a. Day surgery/ out-patient surgery

b. Pre-hospitalisation/ pre-surgical Specialist Consultation

Maximum 30 days prior to hospitalisation.

c. Pre-hospitalisation diagnostic services and laboratory tests

Maximum 30 days prior to hospitalisation.

d. Post-hospitalisation treatment

Maximum 90 days post hospitalisation.

e. Emergency accident out-patient treatment

Received medically necessary treatment as an out-patient in Hospital within 24 (twenty-four) hours of the accident causing injury. Follow-up treatment by the same doctor or hospital for the same covered body injury will be provided up to the maximum amount and up to 30 (thirty) days from the date of the accident.

f. Emergency accident dental treatment

Accidental injury occurred to sound natural teeth, provided the medical attention is sought within 24 (twenty-four) hours of the occurrence of the accident.  All follow-up treatment costs by the same physician/doctor thereafter will be reimbursed up to 30 (thirty) days from the date of the accident.

g. Ambulance services

Maximum per policy per year is 500,000 rupiahs for all plan purchased.

Note : As charged benefit is subject to reasonable customary charges according to the plan purchased. As charged benefit is subjected to an Annual Overall Limit and Lifetime Overall Limit, whichever is reached first.

5. Special Benefits :

I. Out-patient kidney dialysis treatment

Plan B – 20,000,000, Plan C – 30,000,000, Plan D – 30,000,000, Plan E – 40,000,000, Plan F – 55,000,000, Plan F1 – 55,000,000, Plan G – 60,000,000, Plan H – 70,000,000.

Maximum per policy year.

II. Out-patient cancer treatment

Plan B – 20,000,000, Plan C – 30,000,000, Plan D – 30,000,000, Plan E – 40,000,000, Plan F – 55,000,000, Plan F1 – 55,000,000, Plan G – 60,000,000, Plan H – 70,000,000.

Maximum per policy year.

III. Prosthesis and Implant

Plan B – 1,500,000, Plan C – 3,000,000, Plan D – 3,500,000, Plan E – 5,000,000, Plan F – 6,500,000, Plan F1 – 7,000,000, Plan G – 7,500,000, Plan H – 9,000,000.

Maximum per policy year.

IV. Out-patient physiotherapy treatment

Plan B – 200,000, Plan C – 300,000, Plan D – 350,000, Plan E – 450,000, Plan F – 500,000, Plan F1 – 550,000, Plan G – 600,000, Plan H – 700,000.

Maximum benefit above is per treatment, maximum 60 days post hospitalisation; maximum 60 days per policy year.

V. Home Nursing

Plan B – 150,000, Plan C – 250,000, Plan D – 300,000, Plan E – 350,000, Plan F – 450,000, Plan F1 – 500,000, Plan G – 550,000, Plan H – 600,000.

Maximum benefit above is per day, maximum 120 days per policy year.

6. Annual Overall Limit

Plan B – 165,000,000, Plan C – 275,000,000, Plan D – 330,000,000, Plan E – 440,000,000, Plan F – 550,000,000, Plan F1 – 687,500,000, Plan G – 825,000,000, Plan H – 1,100,000,000.

Multiple policy with health platinum riders has a maximum annual overall limit of Rp.2.200.000.000,00 (two billion and two hundred million rupiahs) per year.

Benefits, except Accidental Death Benefit, payable in respect of expenses incurred for treatment provided to the Insured Person during the period of insurance shall be limited to the Annual Overall Limit irrespective of the type/types of disability.

In the event of the Annual Overall Limit having been paid, all insurance for the Insured Person shall immediately cease to be payable for the rest of the Policy Year.

7. Lifetime Overall Limit 

Plan B – 825,000,000, Plan C – 1,375,000,000, Plan D – 1,650,000,000, Plan E – 2,200,000,000, Plan F –  2,750,000,000, Plan F1 – 3,437,500,000, Plan G – 4,125,000,000, Plan H – 5,500,000,000.

Multiple policy with health platinum riders has a maximum Lifetime Overall Limit of Rp.11.000.000.000,00 (eleven billion rupiahs).

This limit applies to the total of all benefits that have been paid under this Rider, including all past renewals, during the entire lifetime of the Insured Person (or maximum until 75 years of age).

8. Accidental Death Benefit

Plan B – 60,000,000, Plan C – 100,000,000, Plan D – 120,000,000, Plan E – 160,000,000, Plan F – 200,000,000, Plan F1 – 250,000,000, Plan G – 300,000,000, Plan H – 400,000,000.

In the event of death of the Insured Person which occurs within 90 (ninety) days and from occurrence of a covered accident, the lump sum accidental death benefit is payable in accordance with the Plan the Insured Person is covered under, as specified in the benefit above.

9. International SOS Travel and Emergency Medical Assistance

In accordance with benefit provision in International SOS agreement for International Travel and Medical Assistance, Domestic Medical Assistance.

Important information : Sequislife Health Platinum medical cover is valid for All countries hospital medical treatment and special for heart surgery, the cost of stents and all heart surgery related cost is fully covered As charged, subject to the platinum plan limit purchased.

That is only the benefits, I’m sure everyone is more interested on How Much do we need to pay to get all of those benefits of Sequislife Health Platinum Riders. Below I will provide a rough estimate of the cost based on age range :

Note : For age range 1 to 35, the premium has include an additional rider called Sequis Waiver of Premium due to Disability or Dread Disease (WPDD). The premium above is an annual premium with a unit link based product with a minimum of 10 years premium payment period.

There are waiting period and exclusions applies. Make sure you check with the agents to know the details before you decided to buy the products. The younger you are the cheaper the premium, the more benefit you can get.

No one knows whats going to happen tomorrow, so ask yourself, if you are hospitalised, for whatever reason and the cost is reaching up to say 150 million rupiahs, who is going to pay the bill? Will your boss/company pay for it? Do you have enough savings to cover it? Will your family future affected if you have to pay for it? Health Insurance is just one way to get that peace of mind when the event come to life.

If you are unsure, try to do some financial planning ahead.  As a financial planner I can assure you that Financial Planning is more than just about securing your future, it is about making your dreams come true.

Thank you for reading and any request for personalised proposal of the product please contact me by email on steviani@gmail.com or tweet @steviani29 .

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

“Education is the most powerful weapon which you can use to change the world.” – Nelson Mandela –

I may not know Nelson Mandela really well, but I do share the same view and believe that education is the only way to change the world. I’ve met some people through my insurance business and I have met so many people who refuse to take insurance because THEY BELIEVE that insurance is a fraud business. THEY BELIEVE that all insurance agents are cheaters. As a newbie, it was quite shocking to found out that they have hold this believe for more than 10, 20 and some even 30 to 40 years.

It is not my job nor my interest to change their belief. All I want is for them to help themselves and their family, by lending their ears and open their mind to accept the correct information about insurance, to know how it works, how it can keep their children to reach their dreams, how it can help bereaved spouse to build their life back, how it can maintain your lifestyle when you are unable to work and how it can support your retirement time. I want them to know that in this modern world, insurance is nothing but just an ordinary tools that is able to protect their family from financial distress when life risks happen.

Though I say ordinary, it is actually extra ordinary. How extra ordinary? Let’s read this article posted at Kompas newspaper on 30th of December 2012.

Continuing from my previous post about stretching your dollar further, how much do you think it cost to get that medical benefit of 800million rupiahs? If you are 60 years old, it will only cost you Rp.43.000.000,00, taken from your savings to pay the premium in order to receive that medical benefit of Rp800.000.000,00 (your insurance pay that amount).

Once you are sick and get hospitalised, when the hospital asked you to pay the bill 800 million rupiahs, YOU HAVE TO PAY THE BILL NO MATTER WHAT! While some people prefer to cash out their deposits, take out their savings, borrow from their neighbor/boss/family, sell their car/gold/house, some other people are lucky enough to have insurance that pays everything AS CHARGED like that lucky woman above.

Sounds like fraud? I hate to tell you this, but that woman just BUY AN INSURANCE PRODUCT and she get what she pay for : Medical Cover AS CHARGED, a life insurance cover and a peace of mind ^_^ 

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

Almost 4 years now, living back in Jakarta, Indonesia. For the past 3 years, I’ve spent quite some time comparing many health insurance product for individuals. Most of them are similar in terms of benefit, though if you compare some are obvious enough not a good bargain in the market . Unfortunately, some people in Indonesia are either don’t really care about what they spend their money for or… maybe they just don’t have the time and resources to compare before they buy.

I’m pretty sure that almost everybody, will compare prices before they decide to buy gadgets, bags, cars, houses, golds, etc. Every smart people will do their homework before they decide to buy another assets.  However, i found that in particular about life and health insurance for individuals (not company), some people tend to just buy whatever insurance agent told them without doing their homework prior nor checking the validity of whatever the insurance agent claims as the benefit they will receive.

I am an insurance agent my self, though my parents and relatives are not really proud of it, at least I’m glad to know that I am different from the insurance agents they knew back in the past. I am not a big star but I am aiming to change the face of life and health industry in Indonesia. We’ll see how it goes along the way.

Now, let’s start by checking this out:

1. Have you got a health insurance? YES / NO

If you have, good on you! By buying a health insurance, it means you have stretch your dollar or rupiah further.

What do I mean by that? Let see if you can understand my explanation. I present to you 2 cases.

First one is about my cousin. He was 16 years old at that time. He borrowed his friends motorcycle, play with it and a little bump make him lose control and get thrown off the motorcycle. Hit a parking car, faint and got hospitalised. Doctor said he got internal bleeding because his ribs were broken, it punctured his internal organs and he also broke his legs. He can’t move, can’t walk.

Few months after, he started to walk and eager  to go back to school, even though he is still having a hard time walking with crutches. His face was beaming with joy to finally be able to see his friends. One evening, he got a fever, his mother told him to take a Panadol and try to sleep. Not long, he started shaking and his mom straight away took him to the hospital. He got infections from the previous injuries. He passed away soon after that. He was just 16, and he is the only child. His mom sold their only house to cover all of his medical expenses which cost around half a billion rupiahs (Rp.500.000.000,00), he didn’t know about it.

Second one is about my uncle. He is still alive, he got 5-6 stents in his heart and was doing it in Singapore, spent about S$35,000.00 ( thirty five thousands Singapore dollar). His health insurance pay for all of his medical cost and how much is the cost for him? For all of that, the cost was just around 20-30 million rupiahs at that time.

From the two cases, I hope some people now understand what it means to stretch your dollar/ rupiah further.

To put it simple, which one you choose :

a. Pay the hospital the sum owed, full amount with your savings money and other assets which can be sold.

b. Pay the hospital the sum owed, full amount with your insurance money.

Once you are sick and get hospitalised to receive treatment, you have to pay the bill no matter what. Health Insurance won’t make you healthy, but at least it protect you from financial breakdown afterwards.

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

As i wrote this, i still read many articles on local newspaper like Kompas, writing almost identical stories almost every week. Talking about Jakarta, their current issues are about flood, never ending corruption stories, murders, theft, rapes, traffic jam, bad public transport, etc. Well, in Jakarta, every day, those issues are always current issues, from day 1 to day 365 or 366.

I always read all those stories with much interest. At least those are stories that catch my interest when I open up the newspaper. With so many issues happening every day, it make me wonder whether the law enforcement in this country actually works? If you can hire the police to do whatever you want, like guarding your event, give way to your bus if you want to go anywhere for any event you want, no wonder we never feel safe living in this country. Money is the only thing that makes the police works. Though I have met some decent police who don’t ask for money but apparently if you get caught the only way out is to give that green, blue or red paper bill.

Once i ever got caught by a police and the police without a name tag are stopping me and said, ” Do you want to solve it here or get a fine?”

I was like “What? What was my mistake?”

He said ” You shouldn’t turn left when the red light is on.”

I said “Okay, though i see everyday that every single car was doing it and i thought it was okay, apparently i’m wrong.”

He then asked me again ” Do you want to solve it here?”

I’m pretty sure i got pissed when he asked me the second time so i was like ” Sir, if I am making a mistake then give me a fine! Why are you keep asking me to solve it here? What is your name?”

He got angry when i asked that, very funny, he said “Why are you asking my name?”

I said, “Because it seems you keep pushing me to solve it here and i’m afraid that you are going to give me more trouble, so i hope you don’t mind that from now on, i will record all of my conversation with you as my evidence. So, i hope you don’t mind to start by telling me your name because i don’t see your name on your uniform.”

He stepped back, away from the car to get a fresh air apparently and come back with a calmer tone, saying “Mam, I am stopping you because you are not suppose to turn left when the light is on and yada yada yada…”

He was giving me the fine on the spot afterward and confiscate my driving license.

I told a friend of mine that i’d rather pay the fine because it will go straight to the government.

Few days later, i got my driving license back and my driver who collect it for me said that he paid Rp.135.000,00 to get that license back. He told me that he got a discount and that person he paid is not a cop, that person he paid got to bribe the police to get my driving license back.

In the end, lesson learned, they said it is cheaper to just pay the police on the spot than go thru the hassle of going to the police station. Indonesia, you still got a really longgg….. way ahead to get down from that top rank of the most corrupted country in the world.

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.

3rd of April 2013, JW Marriott hotel were full with Japanese girls in their beautiful kimono. Cherry blossom trees are everywhere and the rooms are coloured red with lots of origami crane, paper umbrella and lampions.

That special day was Sequislife ICON night, going full Japanese style this year. It was a night where ICON of Sequislife gather to celebrate their 2012 achievements.  To be a member of Sequislife ICON in 2013, they must have a production minimum of Rp.770.389.180,- in the year 2012.  On that night there were 61 ICONs being rewarded, which all of them are qualifying member of MDRT (Million Dollar Round Table) and their productions are well beyond the ICON requirements. Simply said, they are the best producer of Sequislife.

In 2013 there are 124 listed Qualifying MDRT members from Sequislife (based on 2012 productions). The 2013 minimum requirements to be a proud member of MDRT from Indonesia, based on 2012 production is Rp.531.666.000,-  or earn a minimum commission of Rp.265.833.000,-.  Founded in 1927, the Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals, is an international, independent association of nearly 38,000 of the world’s leading life insurance and financial services professionals from more than 450 companies in 79 countries. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of sales excellence in the life insurance and financial services business. http://www.mdrt.org

Sequislife as a prominent life insurance company in Indonesia is providing a full range of best life insurance product in the industry. At the ICON night, the 2020 vision of Sequislife was announced, that is “TO BE THE PREFERRED LIFE AND HEALTH INSURER IN INDONESIA”. To become one I’m sure we need more than great products. More professionals are needed to educate future clients and great customer service to follow.

That’s all my reports for tonight and I hope we can see more ICONs in 2014.

Steviani, CPA, CFP®, 2013 Sequislife ICON, MDRT.