Inflation Indexed Term Rider
Policyholders of the Universal Option, Pre-eminent Option, Family Package Options A1, A2 and BII, and Whole Life plans can include this benefit in their main policy. The Inflation Indexed Term Rider provides a hedge against consumer price hikes should the insured event occur.
This rider will provide an increase in the insurable value in accordance with the insured inflation rate. The insured sum will automatically increase, commensurate with the inflation rate after each contract year, without the Insured undergoing a mandatory medical check.
This benefit is particularly attractive for family breadwinners who face rising inflation. Should the insured event occur, an increased amount of benefit (corresponding to the inflation rate) will provide better financial protection for the Insured’s loved ones.
Policyholders only need to pay an additional minimal premium based on the face value of the main policy to enjoy this added benefit. For example, if the main policy has a face value of VND 100 million and the prevailing inflation rate is 7%, the policyholder would only have to pay VND 15,750 a year.
- ACE Life will pay an amount of benefit equal to the face amount multiplied by the inflation rate. The applicable inflation rate is capped at 3-15%. For example, if the main policy has a face value of VND 500 million and if the insured inflation rate is 5%, the insured value will be 500 million x 105% = VND 525 million. With the same face value, if the insured inflation rate increases to 17%, the maximum rate of 15% will apply. This means that the insured value will be 500 x 115% = VND 575 million.
Total and Permanent Disability (TPD) Benefit:
- ACE Life will pay an amount of benefit equal to the face amount. The payment shall be made over 10 (ten) years, and the payment value for each year is equal to 1/10 (one-tenth) of the Total and Permanent Disability Benefit.
- If the Insured dies before 10 such payments have been made, the remaining amount will be paid in one lump sum.
- This is a non-participating and without-cash-value product
- Entry age: 18 to 64 years
- Expiry date: 65 years
- Payment frequency: in accordance with the main policy (quarterly, half-yearly, yearly)
- Inclusion: Universal Life variants including Universal Option, Pre-eminent Option, Family Package Options A1, A2 and BII, and Whole Life
* This is basic information about the product(s). Please contact our Agency or hotline on (84.8) 38 27 8123 for more details.