WHAT IS LIFE INSURANCE ?
Life insurance is a product of insurance companies to protect people against risks related to health, body and life. Simply, the participant agrees and signs an insurance contract with the insurance company about paying the correct regular fees to the financial reserve fund managed by the insurance company to be paid a certain amount when unfortunately at risk or at maturity.
The insurance contract is an agreement between the insurance purchaser and the insurance enterprise, whereby the insurance purchaser must pay the premium, the insurance enterprise must pay the insurance premium to the beneficiary or compensate the insured when the insurance event occurs (According to Clause 1 - Article 12 - Law on Insurance Business).
DO I NEED LIFE INSURANCE ?
Life insurance can help your loved ones
Replace lost wages or the value of your time
Provide for a college education
Cover the rising cost of funeral expense
Leave an inheritance
Fixed monthly payments and level payouts
LIFE INSURANCE PRODUCTS
"Financial health and personal health go hand in hand in all aspects of life" - South Hampton University
Are you busy and have little time for yourself and your family? Do you want to be protected but are afraid because of complicated insurance procedures? Difficult registration and medical examination procedures?
New beginnings always bring a lot of joy, and excitement, but there is no shortage of challenges waiting for you to overcome when you realize you have your own family, with little angels who need your protection and care.
With a diverse range of complementary products, meeting the needs of health insurance, critical illness, accidents to death, and disability, we help you fully protect your current and future plans and ambitions.
TYPES OF LIFE INSURANCE
Term insurance is an insurance business for cases where the insured lives up to a certain period of time, whereby the insurance enterprise must pay the insurance fee to the beneficiary, if the insured person still lives up to the time limit agreed in the insurance contract.
Death insurance is an insurance business in case the insured person dies within a certain period of time, whereby the insurance enterprise must pay the insurance fee to the beneficiary, if the insured person dies within the period agreed in the insurance contract.
Periodic payment insurance is an insurance business for cases where the insured person lives up to a certain period of time; after that period, the insurance enterprise must pay periodic insurance to the beneficiary as agreed in the insurance contract.
Mixed insurance is an insurance business that combines birth insurance and death insurance.
Lifetime insurance is an insurance business in case the insured person dies at any time during that person's life.” (excerpt from Clause 12 - Article 3 - Insurance Business Law)