Shinhan Life Vietnam launches new cancer insurance product

Monday, Sep 12, 2022 18:17

“Shinhan – Tam An” is a financial backup plan to support customers when unfortunately suffering from cancer. — Photo courtesy of Shinhan Life Vietnam

Shinhan Life Vietnam has officially introduced its health insurance product “Shinhan – Tam An” protecting against cancer.

This is a financial backup plan to support customers when unfortunately suffering from cancer at the early stage as well as special support with high-expense cancers.

Shinhan - Tam An offers a comprehensive protection solution with total benefits up to 445 per cent of the sum assured, including cancer insurance benefits, support when customers have to treat terminal cancer on the list of high-expense cancers, free-premium in the future, and income allowance benefit, rehabilitation surgery insurance and death benefit.

In which, customers will receive immediately 60 per cent of the sum assured (not exceeding VND500 million) when unfortunately suffering from early stage cancer. In case customers unfortunately suffer from other late-stage cancer, Shinhan Life will continue to pay 100 per cent of the increased sum assured after deducting the paid early stage cancer insurance benefit. In addition, after being diagnosed with late-stage cancer, the customer will be exempt from all future premiums and receive an income allowance for 60 months, 1.5 per cent of the sum assured per month, total benefit equivalent to 90 per cent of the sum assured. This allowance will partly compensate for the lost income due to fighting illness, and sharing the financial burden with customers.

In addition, if the late-stage cancer belongs to one of the high-expense cancers, the customer will also receive an additional 50 per cent of the sum assured. Rehabilitation surgery insurance benefit equal to 10 per cent of the sum assured is also paid once by Shinhan Life during the validity of the policy. In the worst case of death, 100 per cent of the sum assured will be a source of financial support to help the life assured's family be more stable against the loss of a loved one.

“Cancer today is no longer a rare disease. It is not only a health hazard but also a financial nightmare for unfortunate families with a loved one suffering from it. We hope that "Shinhan - Tam An", with the advantages of insurance benefits, will be the optimal preventive solution against financial burdens caused by cancer, ensuring happiness for the Vietnamese family," said General Director of Shinhan Life Vietnam Lee EuiChul.

Shinhan Life Insurance Vietnam Limited Liability Company has an initial charter capital of VND2,320 billion, and is a life insurance company with 100 per cent investment capital from Shinhan Life Insurance Corporation, Korea. Officially operating an insurance business in Viet Nam from January 2022, Shinhan Life provides life insurance, health insurance and financial investment services. — VNS

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