HSBC Vietnam launches new life insurance product with Bao Viet

July 19, 2012 | 19:00

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HSBC Bank Vietnam, in association with its strategic partners Baoviet Insurance and Bao Viet Life, has unveiled a new bancassurance product enabling HSBC customers to protect their whole family while planning for the future.

Family Endowment Universal Life is a groundbreaking policy which covers three generations of a policyholder’s family and offers higher interest rates, superior benefits and greater flexibility than standard insurance products in the market place.

Family Endowment Universal Life, which covers the insured (aged 18-60) under the main part of the policy, also provides a package of additional covers for three generations of the same family thereby offering spouses, children, parents, adoptive children and foster parents (aged 1-60) protection.

One of the many standout features of this comprehensive policy is that there is no limit to the number of additional covers.

A number of other factors set this new product apart on the current insurance market: when the policy terminates, the customer receives Policy Account Value and Loyalty Payment calculated with the Declared Crediting Rate, which is announced annually by BaoViet Life, insurance covers are guaranteed to automatically increase year-to-year, and Total and Permanent Disablement (TPD) is paid in a lump sum equal to 100 per cent of Death Benefit in the event the insured has suffered from Accidental Total and Permanent Disability.

“This is an ideal insurance package for our customers, who wish to protect their family and realise their financial goals concurrently,” said Nguyen Duc Tuan, CEO of Baoviet Life Corp.