In every parts of your life, you always try to build up your achievement in works, happiness in life, and constantly improve your value. Besides, there are many obstacles that can stop you on the way to completing your goals.
Prepare a stable foundation, proactively accumulate and protect yourself and your family with universal life MAP Life- Binh An product, you can confident to achieve the important goals in life.
Safe investment
- Enjoy stable interest rate from Universal Life investment Fund
- Loyalty bonus up to 33% First year annualized Target premium
- Received Policy account value at the Maturity date.
Proactive choose protection plans
- Flexible design with Basic plan and Advanced plan.
- Dynamic benefits, suitable with many financial goals and protection purposes
Comprehensive protection
- Full protection with Death/ Total and permanent disability coverage.
- Financial support up to 10% Sum Assured (not exceed 30 mil VND) when Customer submit the request for Funeral support benefit.
- Support the expenses for Total and permanent disability treatment due to Thyroid cancer from Stage 1 – Stage 3 up to 10% Sum Assured ( not exceed 100 mil VND)
- Increasing protection for special events in life.
| Basic option and Advanced option | |
| Entry age | From 30 days old to 70 years old |
| Policy term/ Insurance term | Until LA gets 100 years old |
| Premium term | • Minimum: First 3 Policy years from the Risk commencing date • Maximum: Equal to Policy term |
A. BENEFITS
1. Dead Benefits
| Basic Option | Advanced Option |
|
Pay the higher of:
|
Pay the sum of:
|
2. Total and permanent disability benefit:
2.1 In case of Total and permanent disability loss, completely paralyzed and cannot recovery the body parts or completely blind:
While the Policy is still in force, if the Life Assured loss, completely paralyzed and cannot recovery the body parts or completely blind which is qualified the Total and permanent definition of this product. Company shall pay:
• Basic option:
The higher of Sum assured and Target Account Value; plus Excess Account Value (if any)
• Advanced option:
The sum of Sum assured plus Target Account Value plus Excess Account Value (if any)
2.2 In case of Total and permanent disability due to bodily injured:
a) In case of bodily injured (not including bodily injured due to Thyroid cancer)
While the Policy is still in force, if the Life Assured gets bodily injured after the Waiting period (not including bodily injured due to Thyroid cancer), Company shall pay:
• Basic option:
The higher of Sum assured and Target Account Value; plus Excess Account Value (if any)
• Advanced option:
The sum of Sum assured plus Target Account Value plus Excess Account Value (if any)
b) In case of bodily injured due to Thyroid cancer
While the Policy is still in force, if the Life Assured gets bodily injured due to Thyroid cancer after Waiting period Company shall pay:
- Thyroid cancer from Period 1 to Period 3:
Smaller amount in between 10% SA and 100 mil VND;
- Thyroid cancer from Period 4:
• Basic option:
The higher of Sum assured and Target Account Value; plus Excess Account Value (if any)
• Advanced option:
The sum of Sum assured plus Target Account Value plus Excess Account Value (if any)
Notes:
From the Policy anniversary when the LA gets 75 years old:
• The Policy with Advanced option will be auto switched to Basic option; and
• If the Life Assured dies or gets Total and permanent disability, Company shall pay the higher amount of Sum assured and Target Account Value plus Excess Account Value (if any)
3. Funeral support benefit
Within 07 working days right after the Company fully receives the Request for settlement of insurance benefits for the death of the Life Assured; Company will pay in advance the smaller amount between 10% of the Sum Insured and VND 30 million.
4. Child Lien
In case the Life Assured is a child under Age 4, Sum Assured of Death/Total and permanent disability benefit and Sum Insured of Funeral Support benefit would be adjusted as the table below:
| Age | Under Age 01 | From Age 01 to under Age 02 | From Age 02 to under Age 03 | From Age 03 to under Age 04 |
| Adjusted rate | 20% | 40% | 60% | 80% |
5. Loyalty bonus
Start from the Risk commencing date to the last day of 3rd Policy year and in every each 3 years afterward, Customer will receives the total Loyalty bonus up to 33% First year of annualized Target premium
Company will pay the Loyalty bonus if the Policy is qualified the below conditions:
• Target premiums have been paid in full during review period (no requirement for paying the Target premium on time); and
• No withdrawal from Target Account is made during the review duration of time ; and
• Policy keeps in force during review period and at the review point of time.
The review point of time and benefit as the followings:
| The last date of the Policy year | 3rd Policy year (Period 1) |
6th Policy year (Period 2) |
9th Policy year (Period 3) |
12th Policy year (Period 4) |
15th Policy year (Period 5) |
18th Policy year (Period 5) |
| % paid of the first year annualized Target Premium | 3% | 4% | 5% | 6% | 7% | 8% |
6. Investment benefit
The Company commits that the published Investment interest rate will not be lower than the minimum guaranteed interest rate during the Policy Term.
B. OTHER BENEFITS
7. Non Lapsed guaranteed Benefit
During the must-pay period, the Main Product will be guaranteed to remain in force even if the Policy account value is not enough to deduct the COI and Policy admin fee.
8. Guaranteed Insurability Option (GIO) Benefit
Policy owner can request to increase Sum Assured without underwriting check ( maximum up to 50% Sum Assured and the increased amount will not exceed 500 mil VND) during the special events of Life Assured in life such as : get married, having baby, get adoption, or the children start studying in 1/2/3 Grades, College or University.
9. Maturity benefit
On the Maturity day, if the Policy is still in force, Company shall pay the Policy account value.
- The Policy owner and the Life Assured must declare complete and honest information and notify when there is any change in information related to the Policy. In case the Policy owner/ Life Assured (or the legal representative of the Life Assured) intentionally provides incomplete information or provides false information in order to enter into an Insurance Policy to receive the claims, the Company has the right to cancel the Insurance Contract. In this case, the Company does not have to pay the benefit and will refund all premiums, without interest, to the Policy owner after deducting:
- Medical check up and expenses (if any);
- Paid benefits (including the benefits of the attached products) (if any).
Besides, Company has the right to request Policy owner/ Life Assured pay compensation for damage ( if any)
- Policy owner and Life Assured must notify to MAP Life in written in within 30 days of there is any changes in: contact address, phone number, email, name or ID, age/ gender, occupations, when leaving the Vietnam areas from above continuously 90 days.
- Policy owner should maintain and submit premium on time. Without pay premium fully and timely in within first 3 years, the Policy might be lapsed.
- From the 4th Policy year, the reducing or stopped submiting premium in the long run or withdrawal from Policy account value might make the Policy get lapsed.
- The benefits will not be paid suring the lapsed period.
- Company will not pay the benfits in case of the events belong to Exclusions.
- Signing in the contract is the long term commitment, if the Policy owner terminate the Policy before maturity date there will be some financial damages to Policy owner, please have a look on the Innitial charge and Surrender charge in the Policy wording of this product.
- Participating in the attached product is not the must condition to buy or maintain the in force of the Universal Life product.
- Participating in life insurance products is not a mandatory condition for performing financial activities and services at credit institutions or other organizations and units.
- Company has the right to deduct Debt (s) that has not been paid before paying the surrender value or benefits following the Policy contract
- This document is only a summary of the main features and contents of the product for illustration purposes only, details information please use the Policy wording of this product. In case there is any brief or incomplete information, leading to different interpretations in this document, such information will be interpreted according to the Policy wording of this product.
