Phat Nghiep Hung Vuong

A practical solution of finance and human resouce policy which helps Enterprise to be active and efficient in competition and development.

To run business is never an easy task. Any business's choice must be carefully considered in terms of efficiency and it should address the question "Why is it an appropriate and worthy choice for business?". Each right choice will help enterprise step up on the ground of competition and development.

Phat Nghiep Hung Vuong is an insurance program for employees designed with the feature of preserving capital and making profit, not only helping business to complete its human resource policy, but also providing enterprise the maximum flexibility to use capital resource effectively. It can take advantage of tax incentives in terms of Corporate tax exemption. This results in outstanding strengths on the market.

REASONS OF CHOICE

1. PRESERVE CAPITAL AND MAKE PROFIT

Phat Nghiep Hung Vuong enables Businesses to preserve capital and make profit effectively with the benefit of Crediting Interest Rate from paid premiums. Enterprises and Employees enjoy the outstanding saving interest from the results of Universal Life fund and are always secured by the most competitive minimum guaranteed interest rate.

2. THE MOST FLEXIBLE

Phat Nghiep Hung Vuong is the leading product in the market which offers Enterprises activeness in insurance - financial decisions by the policy that Enterprises can finish premium payment in one time or multiple times (but not over the 5th Policy year). The enterprises can take initiative in allocate Base premium and Top up premium depending on financial health of enterprises.

Moreover, with Phat Nghiep Hung Vuong, Enterprises can actively select Insurance term, amend Sum Assured and especially have solutions for human resources policies for Employees (attract talents, mobilize/ appoint personnel, terminate Labor contract…)

3. THE MOST COMPETITIVE

Phat Nghiep Hung Vuong is an insurance product with 3 most competitive charges in the market: Initial charge, Universal Life management charge and Policy administration charge.

GENERAL INFORMATION

1. POLICYHOLDER

Business Organization

2. LIFE ASSURED

Leader/ Officer/ Staff

3. AGE AT ENTRY

18 - 65 years old, not over 75 years old at maturity

4. POLICY TERM

5 – 15 years

5. PREMIUM TERM

1 – 5 years

6. SUM ASSURED (SA)

• Maximum SA: VND 3 billion

• Min SA: VND 30 million and paid based on Payment term. Specifically:

Payment term

1 year

2 years

3 years

4 - 5 years

Minimum Sum Assured

125% Base premium

250% Base premium

375% Base premium

500% Base premium

INSURANCE BENEFITS

1. DEATH BENEFIT

With the same premium, the Enterprise has the full right to select Death benefit for Employees:

  • Priority for Investment and saving: Employees will receive the level protection benefit which is the higher value between the Sum Assured and Policy Account Value at time of the Insured's death.
  • Priority for Comprehensive protection: Employees will receive the advanced protection benefit which is equal to the sum of Sum Assured and Policy Account Value at time of the Insured's death.

2. TOTAL PERMANENT DISABILITY BENEFIT

Employees are entitled to receive 100% Death benefit.

3. CREDITING INTEREST RATE

Enterprise and Employees (*) are entitled to increase Policy Account Value with attractive cumulative interest rate from the results of Universal Life fund. VietinAviva guarantees that at any time when the Policy is in force the applied Interest Rate is not below the minimum guaranteed credit rate.

Policy year

1

2

3

4

5

6 +

 Guaranteed CIR

6.0%

5.0%

4.5%

4.0%

4.0%

3.0%


(*) Beneficiaries depend on agreements between Enterprise and Employees about working time, productivity...

4. SAVING BENEFIT

Enterprises and employees (*) receive saving benefit on the maturity date with 100% payment of Policy account value.

Policy Account Value = Allocated premiums + Accumulative Interest – (Monthly deductible amount + Partial withdrawals + Partial withdrawal charge)

5. ADDITIONAL BENEFITS

Enterprises are able to choose supplementary benefits to increase the protection for employees under human resources policies with preferential rates. The additional benefits include:

1. Hospitalization rider

2. Surgery rider

RIDERS

Aviva customizes a comprehensive protection with additional benefits not only for you but also for your family members