Global Banking and Finance Review is pleased to announce BAOVIET LIFE as the Global Banking & Finance Awards® for An Phat Cat Tuong – Most Innovative New Life Insurance Product Vietnam 2019

Global Banking and Finance Review has awarded BAOVIET LIFE in recognition for its dedication to providing innovation and leadership in life insurance. “Baoviet Life, a leading life insurance company in Vietnam is committed to building long-term relations with clients, providing innovative, comprehensive coverage and support. Launched in June 2019, “An Phat Cat Tuong” a universal life product provides customer with flexible financial solution and comprehensive protective coverage with superior features. In the first 15 days of being launched “An Phat Cat Tuong” received 2.663 applications and 53,33 billion annualized first year premium recorded. In which, 1.482 policies have been issued with total annualized first year premium sums up to 26,6 billion. These impressive figures confirm the outstanding position of “An Phat Cat Tuong” in the Vietnamese life insurance market, satisfying the increasing needs of Vietnamese consumers and making them the clear winner this year. Their expertise and dedication to export financing is made them stand out as the clear winner this year,” said Wanda Rich, Editor, Global Banking & Finance Review. “We look forward to seeing more from them in the years to come.”

Innovative Features of An Phat Cat Tuong

Optimized Risk Protection:

• Comprehensive protective benefits, including death benefit, accidental disability benefits, final stage terminal illness benefits and more optional premium benefits.
• Protection against first stage and final stage cancer with maximum benefit reaching 100% sum insured for cancer, providing financial support and assurance during customer’s treatment process
• Protection against strokes when the insured show signs of critical condition strokes with maximum benefit reaching 100% sum insured for strokes, 50% of death benefits will be paid in advance when the participant is diagnosed with final stage terminal illness, 200% death benefit for commercial plane accidents as passenger. Comprehensive medical care benefits, maximum benefits can sum up to 1.000 times sum insured for medical care.

Flexible Financial Solution

• Participants can adjust insurance term and payment term as well as increasing or decreasing premium level to fit their economic conditions at different times.
• Premium payment options of single premium payments, short term payment in 5 years or periodic premium payment while still enjoying the enjoy long-term protection benefit
• Partial withdrawal of policy account value if financial need arises

The awards honour companies that stand out in particular areas of expertise in the banking and finance industry.

About the Global Banking & Finance Awards®

The Global Banking & Finance Awards® honour institutions that stand out in their particular area of expertise in the finance industry. They recognize achievement, challenge, progress and inspirational change in finance globally. Global Banking & Finance Review is a leading online and print magazine, which has evolved from the growing need to have a more balanced view for informative and independent news for the global banking and finance industry. It is reflected in the quality and in-depth insight provided by our experienced contributors in a clear and concise way. We have objective and respected editorial contributions from all major sectors, such as Banking, Technology, FOREX Trading, Asset Management, Corporate Governance, Islamic Finance, Project Finance, Mergers and Acquisitions, Tax and Accounting and Inward Investment; all under one global umbrella.