Baseline Study for the Socioeconomic Impact of Tamadera Insurance Program in Jakarta

Bambang Soelaksono

Bambang Soelaksono, Asri Yusrina, Rika Kumala Dewi, Armand Arief Sim, Rahmitha, Rachma Indah Nurbani, Herry Widjanarko, Rina Rozana

Widjajanti I. Suharjo

Stephen Girschik



The Tamadera insurance program is a female-targeted multifunctional micro-endowment saving plan with integrated life insurance and critical illness coverage that was launched in October 2010. Given the pioneering nature of the program, this study is being carried out as the first stage of an impact assessment study of Tamadera. The study is conducted in Jakarta Timur and Jakarta Utara. Using quantitative and qualitative surveys, the study found that sampled household heads are generally well educated as most of them are graduates from senior high school. Family size of the sampled households is higher than the BKKBN’s ideal family size. Family size is found to have a positive correlation with the position of the household within the quintile per capita expenditure. Health and education are found to be important aspects in influencing a household’s financial position. In accessing funds for medical treatment and their children’s education, sampled households tend to be dependent on the availability of their own money. Indeed, Jakarta Utara is found to be lagging behind Jakarta Timur. Large household sizes, high numbers of households receiving Raskin, and low education levels of household heads are some of the conditions found commonly in Jakarta Utara. Meanwhile, a widely held perception among households in Jakarta Timur about their ability to finance their children’s education shows that they regard this more highly than households in Jakarta Utara.

The level of financial knowledge and ability of the community remains low. Respondents in the first quintile have the lowest percentage score in a financial literacy test compared to respondents in the other quintiles. Moreover, the respondents’ educational attainment and age are statistically significant in regard to their financial literacy score.

Most of the respondents are interested in a savings program that provides health insurance and a death benefit. Amongst those who are interested in the program, the first priority for their Tamadera savings would be to provide finance for their children’s education. However, one of the rules of the program is that savings accounts can only be withdrawn from after five years and that there is a 15% reduction penalty if they decide to withdraw their savings before the end of the five year term. This penalty has shown to discourage respondents from joining the program.

Keywords: baseline survey, life insurance, poverty reduction program 

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