Shinhan Life Vietnam launches endowment insurance product

The product is a combination of protection and savings to provide a comprehensive financial solution against risks, while helping customers and their families fulfill long-term plans with the backup fund for future needs.

‘Shinhan – Song An Vui’ offers a set of advanced solutions, not only protecting against three common critical illnesses, but also sharing the burden of hospital bills and surgery costs, as well as increasing protection against the risk of death or total permanent disability.

Along with this, the product offers hospital income for each day of hospitalisation, doubling the benefit when hospitalised in intensive care, and surgical cost support for illness or injury treatment.

For critical illness insurance benefits, the product renders financial support up to the entire insurance amount and exemption of premiums for the remaining period of the contract when the insured person suffers from cancer, stroke, or heart attack.

Regarding death or total permanent disability insurance benefits, the product offers 150 per cent payment of the sum assured or total premium paid, whichever is greater. In addition, Shinhan Life Vietnam will pay all of the sum assured if the insured person has an accident leading to death or total and permanent disability.

In addition to protection benefits, with savings benefits and maturity benefits with a total amount paid up to 150 per cent of the sum assured, the product aims to immediately support customers’ saving plan to build a solid foundation on the journey to compete future goals.

The product is designed with diverse contract term options from 10 years to 25 years to help customers proactively build financial plans for themselves and their families.

Operating in Vietnam from January 2022, Shinhan Life Vietnam has been developing through a product portfolio that meets many customer needs and diverse distribution channels such as bancassurance and telemarketing channels, corporate agents, and cooperation with subsidiaries in Shinhan Financial Group.

In particular, the newly launched Financial Consultant channel is expected to assist the company in achieving its long-term growth goals in the future.

With a charter capital exceeding $96 million coming from Shinhan Life Insurance Corporation, Shinhan Life Vietnam Insurance has operated in life insurance, health insurance, and financial investment via the Ministry of Finance’s approval in early 2021.

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