VietinAviva reinstates flexible option for private investors

May 14, 2015 | 17:00

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VietinAviva at a conference on personal finance on May 14 reinstated its Phat Loc Hung Gia life insurance product as an option for individual insurance and investment at the same time.

The policy enables customers to increase or decrease the supplementary amount they pay depending on their financial plan. The interest rate that the investor enjoys is drawn up as a function of the results of investment by the company. In 2014, this rate was between 7.4 per cent and 8 per cent.

VietinAviva, which started operations in October 2011, is a joint venture of VietinBank and UK insurer Aviva plc. Earlier this month, the company opened its first agency in Hanoi, marking its commitment to tapping into the growing potential of the Vietnamese life insurance market.

In 2015, VietinAviva is going to open agencies in Ho Chi Minh City and Danang.

The Vietnamese economy is expected to grow by 6 per cent in 2015. Besides traditional investment channels such as bank deposits, gold and real estate, Vietnamese private investors are paying increasing attention to new channels such as stocks, investment authorisation and insurance as a form of accumulation and investment.

However, as these channels remain largely unsaturated, substantial funds are not used to their potentials and remain idle.

By By Khanh Tran

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