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TRADE FINANCE | Cesar Tordesillas, Vietnam

HSBC Vietnam launches bancassurance products

HSBC Vietnam two new insurance products as part of its partnership with Bao Viet to provide policyholders with a range of flexible plans to protect their life and properties.

Sumit Dutta, chief executive officer of HSBC Vietnam, said that their group is teaming up with its partners Baoviet Insurance and Baoviet Life to launch the two new insurance products after three years of close cooperation.

The bank described the Whole Life Universal Life Insurance and Home Insurance products as budget-suited covers and comprehensive and flexible financial solutions for policyholders.

“These are the results of our latest endeavors to bring an all-round financial solution to our customers to enable them to be well protected and to look after their loved ones,” Dutta said.

Provided by Baoviet Life, the Whole Life Universal Life Insurance guarantees an annual minimum interest rate of 5% for at least the first 20 years. It allows policyholders to change the sum insured and the premium payment method, choose to pay the premiums for a certain number of years only or until a certain age, and increase or decrease the premium amount in midstream.

Meanwhile, the Home Insurance has benefits in two optional sections for home building and home contents integrated in one policy to enable policyholders to choose their way to protect their properties, either as a home owner or a tenant. More importantly, the product allows customers to select a suitable plan to insure their contents without having to list out every single item in the house.

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