On August 16, Italian-backed life insurer Generali Vietnam announced its VITA – Cho Con (VITA – For our Children), the very first education-focused unit-linked insurance solution in the market.
VITA – For our Childrencombines protection and investment to offer customers exceptional and unprecedented benefits associated with the learning and development process of their children.
The product aims to give parents peace of mind when building a solid educational foundation for their children with the opportunity to increase and accumulate assets through investment funds managed by two leading asset managers in Vietnam, VinaCapital and Dragon Capital.
|Generali Vietnam's education-focused unit-linked insurance solution VITA – For our Children offers exceptional benefits |
VITA – For our Children is designed to provide customers and their families with comprehensive protection against the risks of death, total and permanent disabilities (TPD), and critical illnesses, among others.
For the first time in the domestic insurance market, in addition to the premium waiver benefit upon a parent’s death or TPD, Generali guarantees to issue a new insurance policy for their child without any underwriting required with the sum assured of up to $434,000.
|VITA – For our Children offers policyholders great flexibility in determining the premium amount, sum assured, and investment allocation in accordance with their risk appetite. |
As an education-focused unit-linked insurance solution, VITA – For our Children offers many attractive bonuses to increase the value of the customer's accounts, including the regular bonus of up to 11 per cent of the average target premium account.
Of note, Generali Vietnam's unique Child’s Companion bonus programme helps parents encourage and enable their children's comprehensive development with very attractive and practical rewards upon their achievements in their academic, sports, culture, art, science, and community pursuits.
In addition, VITA – For our Children offers policyholders great flexibility in determining the premium amount, sum assured, and investment allocation in accordance with their risk appetite. Customers can flexibly adjust their investment plans when needed.
VITA – For our Children features a unique investment strategy with four unit-linked funds being managed by the top two leading asset management companies in Vietnam in order to leverage their unique strengths to optimise customers’ investment returns.
|Generali deploys the VITA – For our Children chain of activities at weekend from August 27 to September 11 at diverse trade centres in Ho Chi Minh City and Hanoi with attractive gifts catered to families |
Generali’s unit-linked funds rose to lead the market in terms of investment returns in 2021, contributing to Generali Vietnam’s recognition as the “Leading investment-linked insurance product provider in Vietnam” at the Golden Dragon Awards 2022.
Last but not least, for each VITA – For our Children policy successfully issued, Generali commits to contribute $4.3 to Sinh Con, Sinh Cha, a parenting community education programme run by Generali Vietnam and the National Fund for Vietnamese Children.
This programme features an innovative approach to sharing practical parenting knowledge and skills for parents and caregivers while providing support to underprivileged families across the country.
| ||Vietnam simplifies regulations on business activities in education |
The Vietnamese government on July 6 issued Decision No.793/QD-TTg approving a plan to simplify regulations for certain business activities in the education and training sector.
| ||Vietnam an attractive life insurance market |
The life insurance market remains attractive despite slowing down of late, according to the Insurance Association of Vietnam.
“For Vietnamese people, the demand for suitable protection and investment solutions for our children has always been very strong,” said Tina Nguyen, Generali Vietnam CEO.
“At Generali, finding the most effective solution to this demand is our passion and commitment. We believe that, since it is designed specifically to meet this demand with many built-in benefits closely associated with the learning and development process of the children, VITA – For our Children will be the answer for many parents looking to protect and invest in their children’s future.”
Generali Vietnam is a member of Generali Group, one of the largest global insurance and asset management providers from Italy.
With diverse distribution channels and a nationwide network of more than 80 GenCasa (agency offices) and customer service centres, Generali Vietnam is serving over 450,000 clients across the country.
By Anh Duc