Business insurance in Indonesia is cheaper than it is most Southeast Asian countries. The rate of life insurance fell to 15.8% in 2017 from 17.9% in 2013. Life insurance in Indonesia is among the cheapest in the region; 50% of people in Indonesia own a life insurance policy. Indonesian property insurance when purchased in non-urban areas is much cheaper than insurance purchased in urban areas. Thus, there is much potential for profits and business growth which exists.