After choosing a policy for yourself and your spouse, you can also include a supplementary product for your child. Including this rider helps raise your child's awareness of the need to act responsibly from an early stage, and guarantees that your child will be accepted for a main policy in the future.
If the Insured dies while the rider is in force, the payment for the amount of benefit is equal to the face amount multiplied by the percentages specified as follows:
- 20% if the insured event occurs from the rider issue date to the date prior to the Insured’s 1st birthday;
- 40% if the insured event occurs from the Insured’s 1st birthday to the date prior to his/her 2nd birthday;
- 60% if the insured event occurs from the Insured’s 2nd birthday to the date prior to his/her 3rd birthday;
- 80% if the insured event occurs from the Insured’s 3rd birthday to the date prior to his/her 4th birthday;
- 100% if the insured event occurs from the Insured’s 4th birthday onwards.
Total and Permanent Disability (TPD) Benefit:
- If the Insured suffers Total and Permanent Disability (TPD) after reaching 4 years of age, the amount of benefit to be paid is the face amount. The payment shall be made over 10 (ten) years. If the Insured dies before 10 such payments have been made, the remaining amount will be paid in one lump sum.
Product Conversion Benefit:
- If the main Insured dies or suffers TPD within 60 (sixty) days of taking up the policy, or if the rider’s insured turns 18 (eighteen) years of age, the rider’s Insured will be allowed to convert the rider into a main policy for either Universal Life or Whole Life. The face amount of the converted product shall not be higher than 2 times the rider’s face amount without the Insured undergoing a medical check-up. If the rider’s Insured requests a higher face value in the converted policy, he or she must meet certain requirements at the time of conversion.
- This is a non-participating and without-cash-value product
- Entry age: from 0 to 17 years
- Expiry age: 18 years
- The minimum face amount is VND 25,000,000 and the maximum is equal to 25% of the main policy’s face amount, but is not to exceed VND 250 million
- Payment frequency: in accordance with the main policy (quarterly, half-yearly, yearly)
- Inclusion: Family Package Universal Life
Note: all children in a family are insured with the same face amount.
* This is basic information about the product(s). Please contact our Agency or hotline on (84.8) 38 27 8123 for more details.