New product combines twin elements of investment and comprehensive protection.
Generali Vietnam Life Insurance LLC officially launched a new insurance product called “VITASong Thinh Vuong” (VITALive Prosperously) on September 21 in Hanoi, which combines the two elements of investment and comprehensive protection.
In terms of effective investment, customers can choose among four investment funds that best suit their profitability expectations and risk acceptance level. These investment funds are managed by VinaCapital and VietFund Managementthe top two fund management companies in Vietnamand help optimise profitability for customers by leveraging each companies’ unique strengths and advantages. Customers can switch funds, withdraw money, top up premiums, and change the fund allocation ratio. Finally, customers enjoy more attractive benefits and rewards such as a regular bonus equivalent to 3 per cent of the policy account value and a special bonus of up to 225 per cent of the first year’s premium.
Customers are also comprehensively protected and assured of 100 per cent of the sum assured and policy account value in the event of death or permanent dismemberment. Customers are also paid an additional 100 per cent the sum assured in the case of accidental death. Protection is also given in cases such as critical illnesses, hospitalisation, and others when riders are added.
Tina Nguyen, CEO of generali Vietnam, said the key competitive differentiator of “VITASong Thinh Vuong” in Vietnam’s life insurance market is the fact that it helps customers optimise profitability from four investment-linked funds managed by VinaCapital and VietFund Management. “Customers can also customise their investment options with the flexible selection of funds to better suit their personal risk appetite and profitability expectations,” she added. “Generali’s customers can also change their investment plan among these four funds throughout the year. As a strong testament to generali’s motto of ‘Simpler, Smarter, Customer-centric’, this 2-in-1 insurance product meets customers’ needs for a comprehensive protection plan against life’s risk and an additional preeminent investment channel.”
Generali previously launched a product called “VITASong Lac Quan” (VITALive Optimistically), a financial solution that combines the three elements of protection, savings, and investment in the same policy for the whole family.
Generali is an independent Italian Group with a strong international presence. After nearly eight years of operations as a member of the generali Group, generali Vietnam has a nationwide network of over 60 GenCasa (agency offices) and customer service centers, serving approximately 200,000 clients.
http://vneconomictimes.com/article/business/generali-vietnam-launches-2-in-1-insurance-product
