Korean-owned Shinhan Life Vietnam has recently launched “Shinhan – Song Khoe with Fantastic Four S-Plus,” a flexible life insurance solution that offers a wide range of options to optimise protection for each customer.
The new offering is a flexible individual term life insurance product that protects against life's biggest risks, with the entirety of the sum assured being paid in the event of the insured's death.
The product is available to all customers from 30 days to 60 years old, and a one-year insurance period and can be renewed annually until 65 years old.
Customers can choose additional products attached to the "Fantastic Four S-plus" to increase protection benefits. The “S-plus” additional product set includes four riders with comprehensive protection against unpredictable risks such as accidental death or injury, critical illness, hospital income during hospitalisation, and common tropical diseases.
|With S-Plus - Critical Illness, the insured will be paid 100 per cent of the sum assured if diagnosed with a fatal disease such as terminal cancer, heart attack, and stroke.
Accordingly, with S-Plus - Accidental Death or Injury, paying up to 300 per cent of the sum assured in the event the insured dies due to an accident; paying 100 per cent of the sum assured in the event of an accidental injury or burn.
In addition, internal organ injuries or fractures caused by accidents are also covered up to 10 per cent of the sum assured.
With S-Plus - Critical Illness, the insured will be paid 100 per cent of the sum assured if diagnosed with a fatal disease such as terminal cancer, heart attack, and stroke.
With S-Plus - Hospital Income, supporting up to 20 days/hospitalisation, up to 100 days/year of the policy and 1,000 days during the validity period with benefits is equal to 100 per cent of the sum assured.
If the customer has to be treated at the intensive care unit, Shinhan Life Vietnam will pay an additional 100 per cent of the sum assured, up to 10 days/hospitalisation, 50 days/year of the policy and 500 days for the life of the insurance policy.
S-Plus - Tropical Diseases protects against common tropical diseases such as Dengue, Malaria and Rubella (Measles) with benefits up to 100 per cent of the sum assured.
With an initial charter capital reaching $100 million, Shinhan Life Insurance Vietnam Co., Ltd. is wholly owned by Korea’s Shinhan Life Insurance Corporation.
Officially operating in Vietnam from January 2022, Shinhan Life provides life insurance, health insurance and financial investment services.
|Vietnam an attractive life insurance market
The life insurance market remains attractive despite slowing down of late, according to the Insurance Association of Vietnam.
|Digital-led initiatives lift up life insurers in Vietnam
Vietnam’s life insurance landscape is being offered upbeat projections, with digital competencies being the driving force.