The level of financial literacy and inclusion among the Indonesian population still shows a gap between financial service users and their understanding of the products they utilize.
According to the National Financial Literacy and Inclusion Survey (SNLIK) conducted by the Financial Services Authority (OJK) and BPS in 2024, the Indonesian population’s financial literacy index currently stands at 65.43%, while inclusion reaches 75.02%.
Given the community’s low level of financial literacy, programs to improve it are needed.
“About 10% of the population using financial products do not fully understand how these products work,” explained Eko Yunianto, Head of OJK for the Special Region of Yogyakarta, during a public lecture titled “Financial Literacy and the Development of the Insurance Industry” at the Pertamina Tower Auditorium, FEB UGM, on Friday, Oct. 4, 2024.
Marihot H. Tambunan, Compliance Director of Mandiri Inhealth, presented material from the perspective of the health insurance industry.
He introduced various health insurance products offered by Mandiri Inhealth and described career opportunities in this sector, particularly for FEB UGM students.
Tambunan also emphasized the importance of having insurance at a young age.
He encouraged the younger generation to take advantage of their youth to plan for financial protection in the future.
“How old are you now? 20 years? With your youth, you can obtain greater insurance coverage at lower premiums. For example, with a premium of under 1 million per year, you can get coverage up to 100 million. However, as you age, the same premium may provide much smaller coverage,” he stated.
In his opening remarks, Professor Didi Achjari, the Dean of FEB UGM, said that the purpose of this public lecture is to provide a deep understanding of the importance of insurance in protecting oneself and managing financial risks.
“This public lecture is organized to strengthen understanding related to financial literacy, especially concerning the development of the health insurance industry in Indonesia,” he said.
Author: Rahma Khoirunnisa
Editor: Gusti Grehenson
Post-Editor: Lintang