ACE Life offers new choice for critical illness insurance

Insurance for severe health issues can provide a family with greater peace of mind

For those who have the main duty of taking care of and ensuring a good life for their families, what concerns them the most is the health of their loved ones and also their own so that they can continue working.

Protection for the breadwinner

If you are healthy, your family may have a comfortable life, and your children could have a bright future. But what if you suffer a critical illness?

A critical illness, like cancer, a heart attack or a stroke could happen to anyone at any time. According to the Hanoi Cancer Association, there are 150,000 new cancer patients every year, half of whom die from the illness. Although modern technologies and knowledge have been applied in recent years to provide the best diagnosis and treatment for these patients, just a small number of them could pursuelong-term treatment due to its high cost. For instance, treating colorectal cancer costs VND150 million ($7,100) in the early stages and double that for advanced cases, while some cases of cancer treatment are recorded at around VND700 million ($33,333).

Obviously, when a patient suffers a critical illness a person’s family is negatively affected. Understanding these risks, ACE Life - the global life insurance division of ACE Group - has introduced two new supplementary insurance benefits to its Premier Universal Life 2013 for critical illness, namely Staged Critical Illness (SCI) and Multiple Pay Critical Illness (MPCI), in Vietnam. The comprehensive insurance plans provide financial security for families when the insured persons suffer from specific critical illnesses, which may affect the families’ income sources. SCI focuses on supporting the treatment cost right from the early stages, while MPCI pays up to 300 per cent of the insured amount with multiple claims protection for up to three different diagnosed critical illnesses.

Protecting health, ensuring the future

Lam Hai Tuan, Chairman and Country President of ACE Life in Vietnam, said, “ACE Life provides our clients and their family financial support when they are suffering from critical illness. The two newly launched supplementary benefits demonstrate our commitment to care for our clients, when dreaded diseases strike, with innovative insurance plans. We aim to offer our clients the best in class financial support to help them overcome their difficult times.”

In addition to protecting the clients’ financial sources for up to 40 critical illnesses, all premiums paid for these suplementary benefits after fees will be transferred into the policy account value to earn interest from the Universal Life Fund.

Besides newly-launched preeminent benefits for critical diseases, when joining the Premier Universal Life 2013 product, clients can choose to join 13 supplementary insurance benefits ACE Life is offering so that they can actively have a suitable financial plan for themselves and all family members.

With advanced medical care nowadays, many critical illnesses are treatible. But we need to be prepared. A good financial protection plan will help us overcome a long and costly treatment process. We can set our minds at ease and focus on recovery, knowing that all medical expenses are well taken care of.

With SCI, the insured will have ACE Life’s financial support at the early stage of the illness with a higher change of treatment success. The number of claims is not limited as far as sum of claims are within 100 per cent of the insured amount. If the insured is diagnosed with level 2 critical illness, the remaining insurance premium of the supplementary benefits will be waived while SCI remains effective. In the meanwhile, with MPCI, the insured is entitled to receive up to 300 per cent for three different critical diagnosed from the 40 specific critical illnesses. Furthermore, after the first claim is paid, the remaining insurance will be waived while MPCI will continue to remain effective.