ACE Life, the global life insurance division of ACE Group, today announced the launch of a new insurance benefits package – “The Gift for Life” in Vietnam.
This product provides parents with more options to find the right insurance and financial solutions to help them plan a secure future for their child against unexpected risks.
This is an enhancement of the Premier Universal Life 2013 product which now offers the added feature of comprehensive protection for the whole family packaged in one policy.
Without proper insurance protection, a child’s future educational funding may be exposed to risk if they lose their parents.
ACE Life’s “The Gift for Life” provides a comprehensive financial solution to ensure children’s dreams can still come true if the unfortunate circumstances happen.
Thus, when selecting the package, which includes Parents Term, Parents Waiver due to Death and Parents Waiver due to Critical Illnesses features, in addition to the standard benefits of the base plan, customers can enjoy additional benefits for extensive protection.
This includes receiving up to 200 per cent of the Parents Term face amount (FA) upon death of either or both father and mother, upon death or critical illness of either or both father and mother until the child attains age 25, insurance costs of the base plan and supplementary benefits will be waived, while the policy account value will continue to earn interest.
Chairman and country president of ACE Life in Vietnam Lam Hai Tuan said “To be ACE insured means that ACE Life is there when you need us the most. In this case, the ‘The Gift for Life’ package is designed to enhance your children’s future and education. This also helps nurture your children’s life planning skills that are necessary for their adulthood.”
With the unique features, “The Gift for Life” is considered as an heirloom which brings financial protection for three generations in a family.
Moreover, after deducting all prescribed fees of the main plan and the supplementary benefits, the policy account value is contributed by the total deposited premiums, while the policyholder will receive the investment benefits from the Universal Life Fund.
With the newly added supplementary benefits, the Premier Universal Life 2013 now offers a total of 13 supplementary benefits for customers to flexibly choose the appropriate financial plan to protect the insured and their family.
ACE Group is one of the world’s largest multiline property and casualty insurers.
In Vietnam, ACE operates both general insurance and life insurance operations where it offers a comprehensive array of protection products and risk management solutions to a diverse group of clients.
By Minh Thuy