Legal Protection for Insured Persons in the Life Insurance Claim Process at Insurance Companies Experiencing Bankruptcy

Elsa Mahriani Pasaribu
Adel Nazwa Sipa Sinaga
Wardiatul Hasanah Siregar
Irani Adwiyah Rambe4

Jurnal Sahabat ISNU SU
Vol. 2 No. 3 (2025): ISNU Sahabat Vol.2 No.3 Desember 2025

This study aims to examine the legal protection afforded to the insured under a life insurance contract, particularly when the insurance company experiences payment failure or bankruptcy. Using a normative legal approach, this study highlights the role of laws and regulations and the authority of the Financial Services Authority (OJK) in guaranteeing the rights of policyholders. The results indicate that life insurance contracts are consensual and remain valid even before the policy is issued, as long as there is an agreement between the parties. In the event of insurance company bankruptcy, the law grants policyholders special status as preferred creditors, who have priority rights in the settlement of receivables. This strengthens the legal protection for the insured as stipulated in Law Number 40 of 2014 concerning Insurance.