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Financial Service Authorities

Circular of the Financial Services Authorities No. 5/SEOJK.05/2022 on Investment-Linked Insurance Products

Enforcement Date: 14 March 2022

  • Insurance companies can only engage in the marketing of unit-link products if they meet the following criteria: 1) Must employ actuaries and investment managers that meet certain criteria; 2) Must provide adequate information systems and resources that support the management of unit links; and 3) Must fulfill certain capital requirements, which differ depending on whether companies are marketing unit links for the first time or not.
  • When marketing any unit-link products, insurance companies will now be subject to a list of general requirements that include the following: 1) Must make welcoming calls to new policyholders, insured parties or participants in order to ensure that said parties understand the relevant unit-link products; and 2) Must provide adequate documentation (in audio and/or video form) the feature explanations of the benefits, costs and risks associated with the products that are being offered (including any additional features), as well as statements from policyholders.
  • More information on this circular is provided in Hukumonline’s publication titled “Unit-Link Provisions Updated and Elaborated in Effort to Improve Consumer Protection”, as accessible to Hukumonline’s subscribers. For more details on the subscription, please contact Hukumonline’s team at

*This section is provided in collaboration with HukumOnline

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