Manulife offers a guaranteed return of premiums to celebrate 25 years in VN

Tuesday, Apr 02, 2024 14:29

“An Tâm Vui Sống 2.0” marks the 25th anniversary of Manulife's presence in Việt Nam. — Photo courtesy of the company

Manulife Vietnam has launched their “An Tâm Vui Sống 2.0” product to meet the demand from a new customer segment for an easy-to-understand insurance product with guaranteed returns.

This life insurance offers extended protection through a short premium payment period and promises a refund commitment of up to 110 per cent, among numerous other benefits. This special product commemorates the 25th anniversary of Manulife's presence in Việt Nam (1999-2024).

Short premium but long protection terms

Over the years, most customers interested in insurance products with accumulation or investment benefits often opt for unit-linked insurance products.

Few choose term life insurance, even though it offers simple participation conditions, the premiums are often lower than those of other products, and the compensation benefits are relatively high should fatal risks occur. The primary deterrent has been that term life insurance has no surrender or maturity values, offering no savings or investment benefits.

"An Tâm Vui Sống 2.0" is a term life insurance product cleverly integrated with accumulative benefits. Offering simple participation conditions and affordable premiums, customers receive elevated financial protection - up to 40 times the premium paid.

The premium payment period is short (3/5/10 years), contrasted with the long protection term (15/20/30 years). In addition, depending on the age at entry, customers could be protected until they reached 90 years old.

Notably, "An Tâm Vui Sống 2.0" customers also enjoy a guaranteed return of premiums at a committed rate throughout the policy term.

At the policy’s milestone offering the highest return benefit (up to 110 per cent of paid premiums), customers also have the privilege of being exempted from the underwriting process so they can continue to participate in other insurance products offered by Manulife Vietnam.

The product's protection benefits extend beyond death benefits, covering cancer and offering medical care, hospitalisation, and dental benefits by adding healthcare riders. Remarkably, "An Tâm Vui Sống 2.0" is the first product on the market with these specialised features.

Meeting the appetites of a new customer segment

Designed for customers from 18 to 60 years old with affordable premium fees and short payment terms, "An Tâm Vui Sống 2.0" is garnering attention by fulfilling the need for risk protection while offering assured financial accumulation.

Trần Văn Hùng, a technician in Mộc Châu town, Sơn La province, said: “As the main breadwinner of my family, I have long wanted insurance for myself, but hesitated due to the long payment term or a large premium fee required each time.

"That's why I opted for ‘An Tâm Vui Sống 2.0’, which only requires me to pay premiums for 10 years but provides coverage for up to 30 years.

"And if I ever need money to cover my living expenses or take care of my children's future, I still can surrender my policy at the 20-year milestone and get a full 110 per cent refund of the premiums paid."

Small business owner Đỗ Thị Định from An Lão Town, Hải Phòng City, added: “My family already has a unit-linked insurance policy, but I still bought ‘An Tâm Vui Sống 2.0’ product from Manulife.

"If I stay healthy, I can retrieve the premiums paid, but if something unfortunate happens, my husband and children would receive a substantial insurance payout. This gives me great peace of mind,” she said.

Manulife Vietnam's new product has attracted significant customer interest. — Photo courtesy of the company

Tina Nguyễn, CEO of Manulife Vietnam, said that Manulife Vietnam is committed to leading the transformation journey of the industry with initiatives designed to make insurance easy-to-understand, more transparent, and more professional.

"We recently implemented M-Pro, a sales verification and supervision process to ensure all customers would receive thorough consultations," she said.

"‘An Tâm Vui Sống 2.0’ product is Manulife’s latest innovative solution to simplify insurance and address evolving customer needs, expressing our gratitude to customers on our 25th-anniversary service in Việt Nam.”

As a member of the Manulife Financial Group from Canada with a global history of more than 135 years, Manulife Vietnam is among the first foreign-owned insurance companies licensed to operate in Việt Nam, with a total capital investment exceeding VNĐ22 trillion - the highest in the Việt Nam market so far.

This year marks the 25th anniversary of Manulife in Việt Nam. Each month, Manulife Vietnam processes an average of 50,000 claims requests, covering health and medical benefits for its customers. — VNS

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