Frequently Asked Questions

What is Travel Care Insurance and how is it important to me?

Travel Care Insurance is specially designed for individuals and families who are travelling on a journey for leisure or business purpose. Travel Care Insurance offers financial protection in unexpected cases like accident, sickness, flight delay, loss of luggage, etc.

What type of insurance is Travel Care insurance?

Travel Care Insurance is a travel insurance.

Is Travel Care Insurance guaranteed by HSBC?

Travel Care Insurance is provided by Baoviet Insurance Corporation (hereinafter referred as Baoviet). Hence, it is not an obligation of, deposits in or guaranteed by HSBC Bank (Vietnam) Ltd.

What is the maximum duration of a covered trip?

Travel Care insurance provides cover for single trips with maximum duration of 180 days per trip.

Who is eligible for Travel Care Insurance?

Travel Care Insurance provides coverage for individuals and/ or family members aged between 6 months and 85-year-old. Insurance policy for a Child aged 11 or below must be accompanied together with an adult Insured Person. Please be advised that Travel Care is only valid for a trip originating from Vietnam.

I forgot to pay my premium after applying online. What should I do?

Travel Care insurance is a journey-based policy. Premium for each policy has to be paid before departure date as the latest. In case you miss the payment after registering your application on HSBC website, no coverage is provided then you should re-apply.

How can I make my premium payments?

Premium payment for Travel Care Insurance can be made through 01 (one) of 03 (three) channels as follows:

• Online Payment Gateway of Baoviet at link https://payment.baoviet.com.vn/paymentnetwork.
• Cash payment to Baoviet’s account at any counter of Baoviet Bank. Branch network of Baoviet Bank is available at link https://www.baovietbank.vn/vi/mang-luoi-hoat-dong.
• Funds transfer to Baoviet 's account at Baoviet Bank.

Beneficiary’s account information for cash payment /funds transfer:

Account Name: Baoviet Insurance Corporation.

Account Number: 0071033444000 at Baoviet Bank-Branch HO.

Address: 1st and 5th Floor, Corner Stone Building, No 16 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.

How is premium of Travel Care Insurance calculated?

Travel Care Insurance Premium varies depending on the chosen plan, number of travelling person(s), the duration of the trip and where you are travelling to. Please click here for an instant quote.

Is there any additional fees & charges for Travel Care Insurance?

No additional fees and charges other than insurance premium is required.

Do I need to bear any policy excess?

There is no policy excess for Travel Care Insurance.

What will I receive after I buy a Travel Care Insurance policy?

You will receive an email confirmation right after your online application. This email confirmation together with your full premium payment will form your Travel Care insurance policy. Please refer to the policy wording on HSBC website for full details of terms and conditions.

A soft copy of insurance certificate will be sent to your email address within 01 working day from successful premium payment. In case of not receiving such certificate, please contact Baoviet Insurance Corporation at (+84) 4 3934 3235 and provide your Travel Care Insurance reference number to get instruction before your trip starts.

In case of emergency, how can I ask for assistance?

You can call IPA Assistance Company’s hotline on +662 039 5705 at any time for emergency medical and evacuation assistance, medical referrals. The hotline operates in English and Vietnamese.

Whom should I call if I have any inquiry on my policy?

You may call HSBC Call Center at (84) 28 37247 247 should you have any queries about your Travel Care policy.

After making premium payment for Travel Care Insurance, can I change the level of protection?

Once your online application and your premium payment are completed, you can't change the level of protection or add any supplementary benefit. However, you can change/ extend your insurance period by sending Baoviet the Endorsement Request & pay extra premium (if any) before the intended departure date (in case of change of the whole travelling period) or before the expiry date (in case of journey extension).

How much can I get back if I cancel the Travel Care Insurance policy?

No refund of premium is allowed. However, you can change/ extend your insurance period by sending Baoviet the Endorsement Request & pay extra premium (if any) before the intended departure date (in case of change of the whole travelling period) or before the expiry date (in case of journey extension).

How do I make a claim?

For claim purpose, please notify Baoviet and fill in the claim form and send it to or deliver it to the Claim contacts listed at https://www.hsbc.com.vn/en-vn/insurance/products/travel-care/.

Are there any exclusions of Travel Care Insurance?

Travel Care Insurance policy does not cover:

1. Riot, civil commotion, war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalisation or the act or order of any government or public or local authority.
2. Ionizing radiation or contamination by radioactivity from any nuclear fuel or from nuclear waste from any process of nuclear fission, or from any nuclear weapons materials.
3. Suicide or attempted suicide, willfully self-inflicted injury, childbirth, pregnancy, miscarriage, insanity, alcoholism or the use of drugs (other than drugs taken in accordance with treatment prescribed and directed by a registered Medical Practitioner but not for the treatment of drug addiction), self-exposure to needless perils (except in an attempt to save human life), venereal disease, AIDs or AIDs related complex, blood disorders, cancer related illnesses, travelling for the purpose of medical treatment.
4. Engaging in:
   1. racing other than on foot;
   2. deep water diving (that is diving to a depth of greater than 40 metres);
   3. motor rallies and competitions;
   4. professional sports or activities in return for income or remuneration;
   5. aviation other than as a fare-paying passenger in a licensed aircraft operated by a recognized airline or air charter company which is duly licensed by the relevant authorities for the regular transportation of fare-paying passengers.

Please refer to Travel Care Insurance policy wordings for further information of exclusions at https://www.hsbc.com.vn/en-vn/insurance/products/travel-care/.

What is Personal Safety Insurance and how is it important to me?

Personal Safety Insurance provides financial protection for you and your family from uncertainties in life arising from accidents which could result in temporary disabilities, permanent disabilities in partial or total and death.

What is the Personal Safety Insurance type?

Personal Safety Insurance is an accident insurance plan.

Is my Personal Safety insurance guaranteed by HSBC?

Personal Safety Insurance is provided by Baoviet Insurance Corporation (hereinafter referred as Baoviet). Hence, it is not an obligation of, deposits in or guaranteed by HSBC Bank (Vietnam) Ltd.

Can I be insured on a short term basis?

Personal Safety Insurance is a yearly policy and Bao Viet would not offer short term insurance.

Am I covered in working hours and if I travel abroad?

Yes, you are well protected 24 hours a day including working hours. You are also covered if you unfortunately have an accident when traveling abroad.

Who is eligible for Personal Safety Insurance?

Personal Safety Insurance is offered for individuals aged 18-65 who reside or work in Vietnam.

How can I make my premium payments for Personal Safety Insurance?

Premium payment for Personal Safety Insurance can be made through 01 (one) of 03 (three) channels as follows:

• Online Payment Gateway of Baoviet at link https://payment.baoviet.com.vn/paymentnetwork.
• Cash payment to Baoviet’s account at any counter of Baoviet Bank. Branch network of Baoviet Bank is available at link https://www.baovietbank.vn/vi/mang-luoi-hoat-dong.
  
• Funds transfer to Baoviet 's account at Baoviet Bank.

Beneficiary’s account information for cash payment /funds transfer:

Account Name: Baoviet Insurance Corporation.

Account Number: 0071033444000 at Baoviet Bank-Branch HO.

Address: 1st and 5th Floor, Corner Stone Building, No 16 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.

Can I change the frequency of payment of Personal Safety Insurance after the Personal Safety Insurance policy becomes effective?

Full premium payment is required to be made one-off before inception. Instalment payment option is not available.

Is there any additional fees & charges applicable for Personal Safety Insurance?

No additional fees and charges other than insurance premium is required.

Is the premium guaranteed to remain unchanged?

Premium shall maintain unchanged during the insurance period unless there appear significant changes in risk exposure.

What will I receive after I buy a Personal Safety Insurance policy?

A full package of Personal Safety Insurance contract, including Certificate of Insurance and Policy Wordings will be sent to your mailing address by Baoviet.

Whom should I call if I need help or have any inquiry on my Personal Safety Insurance policy?

You may contact HSBC Relationship Manager who has arranged your policy or call Baoviet policy management number stated in your Certificate of Insurance should you have any queries about your Personal Safety Insurance policy.

I forgot to pay my renewal premium and my Personal Safety Insurance policy has lapsed. I still need Personal Safety Insurance protection. What should I do?

Renewal premium payment is required to be made before the Personal Safety Insurance policy expires. In case you failed to pay the renewal premium on time, you should contact HSBC Relationship Manager for new application.

After the Personal Safety Insurance policy is issued, can I change the level of protection?

Personal Safety Insurance is offered into 2 different plans and you cannot switch your plan after the policy is issued.

What should I do if I want to cancel my Personal Safety Insurance policy?

Provided no claim requests have been made or payable during the Personal Safety Insurance policy period, you may terminate your policy by filling in Refund or Endorsement Request Form, having it sent to Baoviet and returning the Certificate of Insurance.

How much can I get back if I cancel the Personal Safety Insurance policy?

Upon your eligible cancellation request, you shall be entitled to a premium refund which deducts the premium amount computed by Baoviet according to short period rates for the period during which the Personal Safety Insurance Policy had been in force. The premium refund will be made within 7 working days (in cash) or 14 working days (by bank transfer).

Is there a hotline for claim inquiry?

For claim inquiry, you may call the claim hotline stated in your Certificate of Insurance.

How can I send my claim request?

You can send your claim request to the following address:

What are the exclusions of the product?

• The Insured Person committing or attempting to commit suicide.
• The Insured Person’s own criminal or felonious act.
• War, invasion act of foreign enemy, hostilities, civil war, rebellion…
• Use of alcohol with the concentration exceeding the one defined in the current local motor vehicle laws.
• Suffering from pre-existing physical or mental defect or infirmity.
• Pregnancy, childbirth, sickness or disease not resulting from bodily injury.
• Nuclear weapon materials, ionising radiations.
• The radioactive, toxic, explosive.
• Venereal disease or AIDS.
• Please refer Personal Safety Insurance Wording at https://www.hsbc.com.vn/en-vn/insurance/products/personal-accident/.

What kinds of sports and activities are covered by Personal Safety Insurance? Are there any excluded sports or activities?

Personal Safety Insurance covers most kinds of sports and leisure activities but the following sports and activities are specifically excluded:

1. Aqualung diving
2. Boxing
3. Climbing
4. Flying except Air travel
5. Football
6. Hang gliding
7. Hunting
8. Hurling
9. Ice hockey
10. Motor competitions
11. Parachuting
12. Polo
13. Pot-holing
14. Power-boating
15. Racing
16. Show jumping
17. Skydiving
18. Use of wood-working machinery
19. Water ski-jumping and tricks
20. Winter Sports
21. Wrestling
22. Yatching beyond 5 kilometers of a coastline
23. Naval, military or air force service or operation

What is Home Insurance and how is it important to me?

Home Insurance provides financial protection for your home (building and contents) against accidental physical damage arising from common risks as follows:

• Fire, lightning
• Explosions
• Falling aircraft or other aerial device or any article dropped therefrom
• Bursting or overflowing domestic water tanks, apparatus or pipes
• Theft accompanied by actual forcible and violent breaking into or out of a building or any attempt to do so
• Impact with the buildings by any road-vehicle, horse or cattle not belonging to nor under the control of the insured
• Earthquake or volcanic eruption
• Hurricane, cyclone, typhoon, windstorm, or hail
• Flood (including overflow of sea water)
• Landslip and subsidence

The home insurance policy also extends to cover any of the following costs under the Home Building section:

• Architects', surveyors' and consultant engineers' costs
• Removal of debris costs
• Fire brigade charges and extinguishing costs
• Alternative accommodation

You can also apply for Liability insurance to cover your liability to the third party according to Civil Law (including bodily injury and physical damage).

What is Home Insurance type?

There are 2 types of coverages for you to choose from (together or separately):

• Home Building
• Home Contents

In addition, you will receive Plan A of Liability insurance for free provided that you have applied coverage for either Home Building or Home Contents or both. You may also buy higher Liability insurance plans i.e Plan B, C, D (once you have either Home Building or Home Contents or both) by paying an additional premium. Please refer to Home insurance product page for more information at https://www.hsbc.com.vn/en-vn/insurance/products/home/.

As a tenant, may I apply for Home Building Insurance?

You can absolutely apply for Home Building Insurance if it is specified under the tenancy agreement that you are responsible for it.

Moreover, you can also apply for Home Contents Insurance for the household contents which are your own assets or under your custody.

As an owner of a house for rent, may I apply for both Home Building and Home Content Insurance?

You can absolutely apply for Home Building Insurance, and also the Home Contents insurance if those contents are your own assets.

Is Home insurance guaranteed by HSBC?

Home Insurance is provided by Baoviet Insurance Corporation (hereinafter referred as Baoviet).

It is not an obligation of, deposits in or guaranteed by HSBC Bank (Vietnam) limited.

How can I make my premium payments for Home insurance?

Premium payment for home insurance can be made through 01 (one) of 03 (three) channels as follows:

• Online Payment Gateway of Baoviet at link https://payment.baoviet.com.vn/paymentnetwork.
• Cash payment to Baoviet ’s account at any counter of Baoviet Bank. Branch network of Baoviet Bank is available at link https://www.baovietbank.vn/vi/mang-luoi-hoat-dong.
• Funds transfer to Baoviet 's account at Baoviet Bank.

Beneficiary’s account information for cash payment /funds transfer: 

Account Name: Baoviet Insurance Corporation.

Account Number: 0071033444000 at Baoviet Bank-Branch HO.

Address: 1st and 5th Floor, Corner Stone Building, No 16 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.

Is there anyadditional fees & charges for Home Insurance?

No additional fees and charges other than insurance premium is required when taking out insurance.

What will I receive after I buy a home insurance policy?

A full package of Certificate of home Insurance and Policy Wordings will be sent to your mailing address by Baoviet.

Whom should I call if I need help or have any inquiry on my policy?

You may contact HSBC Relationship Manager who has arranged your policy or call Baoviet policy management number stated in your Certificate of Insurance should you have any queries about your policy.

I forgot to pay my renewal home insurance premium and my home insurance policy has lapsed. I still need home protection. What should I do?

Renewal premium payment for home insurance is required to be made before the home insurance is policy expires. In case you fail to pay the renewal premium on time, you should contact HSBC Relationship Manager for new application.

After the policy is issued, can I change the level of protection or add any supplementary benefit?

Once the policy is issued, you cannot change the level of protection or add any supplementary benefit. Changes can be made at the renewal time subject to Baoviet's acceptance.

Can I change the frequency of payment after the policy becomes effective?

Full premium payment need to be made one-off before inception. Instalment payment option is not available.

What should I do if I want to cancel my policy?

Provided no claims have been made or payable during the policy period, you may terminate your policy by filling in Refund or Endorsement Request Form, having it sent to the Baoviet and returning the Certificate of Insurance.

How much can I get back if I cancel the policy?

Upon your eligible cancellation request, you shall be entitled to a premium refund which deducts the premium amount computed by the Insurance Company according to short period rates for the period during which the Policy had been in force. Please be noted that premium refund is applicable to 1-year Policy only. The premium refund will be made within 7 working days (in cash) or 14 working days (by bank transfer).

Is the premium guaranteed to remain unchanged?

Premium shall maintain unchanged during the insurance period unless there appear significant changes in risk exposure.

Is there a hotline for claim inquiry?

For claim inquiry, you may call the claim hotline stated in your Certificate of Insurance.

When I complained about compensation, how does Bao Viet conduct a valuation of my assets?

The compensation for property damage inside a home is on the basis of "New replacement value", which means that any lost or irreparable property will be replaced by a new property of the same type yet with no better quality. The cost of repairing damaged properties will also be compensated. Property valuation will be easier if you can provide Bao Viet with purchase invoices, receipts or property repair quotes.

If the damage or damaged property is an integral part of another property, the extent of the loss will correspond to a fair proportion of the total value of the property, depending on its function.

How is the building value of my house determined? If I can’t determine, who will advise me?

The construction value of the house is determined by the construction value per m2 based on market value, multiplied by the building area of the house. If the landlord cannot identify himself / herself, he can send documents related to the house (red book, pink book) to Bao Viet for advice.

What isn't covered under this policy? Are there any excesses or deductibles for claims?

The policy does NOT cover for damages:

• Occasioned by riot, civil commotion, strikers or locked-out workers;
• To any property whatsoever or any loss or expenses whatsoever resulting or arising therefrom or any consequential loss directly or indirectly caused by or contributed to by arising from any nuclear weapons material, voluntary or involuntary use of missiles and/or any kind of warlike weapons, ionizing radiation.
• To any electrical machine, apparatus, or any portion of the electrical installation arising from or occasioned by or over-running, excessive pressure, short circuiting, self-heating, arcing or leakage of electricity arising from whatever cause (lightning included);
• Caused by pollution or contamination;
• Losses and damages to data or software, computer programs;
• War and terrorism exclusion;
• Consequential loss or damage of any kind or description (except for Alternative accommodation).
• There are properties excluded under Home Building and Home Contents cover and exclusions applicable only to Liability cover. Please refer to the Home Insurance policy wording for more details at https://www.hsbc.com.vn/en-vn/insurance/products/home/.

Deductibles where applicable:

• Loss / Damage to the Building and the Contents: VND 2,000,000 for any one claim.
• Liability: VND 2,000,000 for any one claim in respect of property damage only.

What are the properties not covered under the House Building Section?

• The property is not owned by the Insured or the Insured is not liable for such property;
• The property whose value has been included in the sum insured of the Home Contents section.
  

What are the properties not covered under the Section of Home Contents coverage?

• Properties already insured under a different type of insurance;
• Assets removed for sale at a discount or exhibition or stored in furniture;
• Assets are gold, silver, jewelry or gemstones, artwork, manuscripts, plans, pictures or drawings, models, molds, medals, coins or precious books, securities , covenants or documents of any kind, stamps, coins or cash, bank drafts, checks, travelers checks, money orders, postal orders, bills of exchange, money orders, accounting records or other business books, motorbikes or spare parts, bicycles, pets unless specified in the Policy; Property is any part of the house's structure or ceiling, wallpaper and similar items or televisions, antennas, machinery, antenna posts, towers placed outdoors;
• The property whose value has been included in the total sum insured of the House Contents section.

What are the risks not covered under the Liability section?

• Physical injury or physical loss of the Insured, a member living with the Insured, his or her servants or servants;
• Damage to property owned and controlled by the Insured, members living with the Insured, his / her maid;
• The professional or business affairs of the Insured;
• The use of elevators, elevators or transport means;
• The replacement, addition, repair of the House;
• Liability associated with a contract without which there is no liability;
• Pollution or contamination;
• Complaints are made and lawsuits take place outside Vietnam's legal limits;
• The possession or care of any pet and / or cattle.

What is Medical Care Insurance and how is it important to me?

Medical Care Insurance offers you an financial protection to meet the needs of you and your family for both in-patient and out-patient treatment due to illness, disease and accident.

What type of insurance is Medical Care Insurance?

Medical Care Insurance is a health insurance plan.

Is my Medical Care insurance guaranteed by HSBC?

Medical Care Insurance is provided by Baoviet Insurance Corporation (hereinafter referred as Baoviet). Hence, it is not an obligation of, deposits in or guaranteed by HSBC Bank (Vietnam) Ltd.

Can I be insured on a short term basis?

Medical Care Insurance is a yearly insurance policy and Bao Viet would not offer short term insurance.

Who are eligible for Medical Care Insurance?

Medical Care Insurance is offered to any client who is residing in Vietnam from 1 year of age to 64 years of age (65 for renewal of an existing policy).

Children under 18 years old must be insured together with their parent(s) and exceptions can only be granted to those whose parent(s) has/have been insured under another health insurance policy issued by Baoviet. Children’s plan including basic coverand additional cover(s)must be lower or equivalent to their parent’s plan.

How can I make my premium payments for Medical Care Insurance?

Premium payment for Medical Care Insurance can be made through 01 (one) of 03 (three) channels as follows:

• Online Payment Gateway of Baoviet at link https://payment.baoviet.com.vn/paymentnetwork.
• Cash payment to Baoviet e’s account at any counter of Baoviet Bank. Branch network of Baoviet Bank is available at link https://www.baovietbank.vn/vi/mang-luoi-hoat-dong.
• Funds transfer to Baoviet 's account at Baoviet Bank.

Beneficiary’s account information for cash payment /funds transfer:

Account Name: Baoviet Insurance Corporation.

Account Number: 0071033444000 at Baoviet Bank-Branch HO.

Address: 1st and 5th Floor, Corner Stone Building, No 16 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.

Is there any additional fees & charges for Medical Care?

No additional fees and charges other than insurance premium is required.

Is waiting period applicable for Medical Care Insurance?

Yes. Waiting period is the period in which all benefits concerned will not be payable. It is calculated from policy inception and applied as follows:

• 30 days in respect of illness, diseases.
• 30 days in respect of dental treatment.
• 12 months in respect of special diseases and pre-existing diseases.
• 90 days in respect of complication of pregnancy.
• 635 days in respect of childbirth.

What will I receive after I buy a Medical Care Insurance policy?

A full package of Medical Care Insurance contract, including Certificate of Medical Care Insurance, Policy Wordings and Direct Billing Card (if applicable) will be sent to your mailing address by Bao Viet.

Whom should I call if I need help or have any inquiry on my Medical Care Insurance policy?

You may contact HSBC Relationship Manager who has advised your policy or call Bao Viet policy management number stated in your Certificate of Medical Care Insurance should you have any queries about your policy.

I forgot to pay my renewal premium of Medical Care insurance policy and my Medical Care insurance policy has lapsed. I still need Medical insurance protection. What should I do?

Renewal premium payment for Medical Care insurance is required to be made before the Medical Care insurance policy expires. In case you failed to pay renewal premium on time, you should contact HSBC Relationship Manager for new application.

Can I get a discount if I renew Medical Care Insurance?

You will receive a 10%, 15% and 20% discount of the insurance premium if you do not make a claim request for 2, 3 and 4 consecutive years respectively.

How do I remember when my current Medical Care insurance policy expires and needs to be renewed?

Baoviet system will send you a SMS reminder from 7 to 10 days before the expiry date of the current Medical Care insurance policy to the phone number you provided in the current Medical Care insurance policy, and the HSBC Customer Relationship Manager will also approach you to remind that your Medical Care insurance policy is about to expire.

After the Medical Care insurance policy is issued, can I change the level of protection or add any supplementary benefits?

Once the Medical Care insurance policy is issued, you are not allowed to change the level of protection or add any supplementary benefits. Any changes should be made at the renewal time subject to Bao Viet's acceptance.

What should I do if I want to early terminate my Medical Care insurance policy?

Provided no claims have been made or payable during the Medical Care insurance policy period, you may terminate your policy by filling in Refund or Endorsement Request Form, having it sent to the Baoviet and returning the Certificate of Insurance and Direct Billing Card (if any).

How much can I get back if I cancel the Medical Care insurance policy?

Upon your eligible cancellation request, you shall be entitled to a premium refund which deducts the premium amount computed by Bao Viet according to short period rates for the period during which the Medical Care insurance policy had been in force. The premium refund will be made within 7 working days (in cash) or 14 working days (by bank transfer).

Can I change the frequency of payment after the policy becomes effective?

Full premium payment is required to be made in one-off before inception. Instalment payment option is not available.

Is the premium guaranteed to remain unchanged?

Premium shall maintain unchanged during the insurance period.

How do I send my claim document?

Will my claim history affect the renewability of my Medical Care insurance policy and the renewal premium?

Unless in special circumstances where the loss experience is abnormally adverse, the Medical Care insurance policy will not be declined to renew. In cases when the loss ratio is considered high, Bao Viet reserves the right to adjust your renewal premium and/or benefits. Bao Viet will, however, give you sufficient notification in advance.

Is there a hotline for claim inquiry?

You may easily find the claim hotline stated in your Certificate of Medial Care Insurance as well as on the back side of your Direct Billing Card.

How long does Baoviet handle complaints?

Within fifteen (15) working days from the date of receiving full original and valid documents, Baoviet shall have responsibility in confirming Claim Settlement Advice to the Insured/ his Beneficiary/ legal representative. If required, Baoviet will verify claim information within 30 working days from receipt of full and valid documents. Request for additional claim documents and verification notice will be sent to the Insured within 03 working days and from 05 to 09 working days from receipt of initial claim documents respectively.

What should I do if the place I visit / receive treatment is not on Baoviet's list of guaranteed hospitals?

In case you examine and receive treatment at legal medical facilities that are not part of the payment guarantee system of the program, you must pay all treatment costs, then send a dossier to Baoviet to get refund for the fees which are covered by insurance.

What are the exclusions in Medical Care Insurance?

The following treatment, items, conditions, activities and their related or consequential expenses are excluded from the policy:

1. Special diseases and pre- existing diseases within the first year of cover.
2. Medical expenses relating to Ligament break and Meniscus tear are excluded within the first two years of cover and will be payable from the third year onwards with 20% co-insurance.
3. Treatment of sexually transmitted disease (including but not limited to gonorrheal, syphilis, genital herpes), malaria fever, tuberculosis and occupational disease.
4. Treatment of and/or surgery for birth defects, congenital anomalies, genetic deformities or diseases, hereditary medical conditions with symptoms present at birth, surgery which had been indicated before the inception date of the policy;
5. Treatment for mental/ psychiatric illness, mental/ psychological disorders, sleeping disorders, insomnia (sleeplessness), fatigue, stress or other stress-related illnesses;
6. Any treatment or test in connection with Acquired Immune Deficiency Syndrome (AIDS), any AIDS-related Complex (ARC) and any other AIDS related conditions or diseases.
7. Treatment or control of weight (loss or gain);
8. All dental treatment or oral surgery except for dental treatment following an accident, or the insured applies for additional cover of dental treatment.
9. General Outpatient Services apart from emergency out-patient treatment following an accident or participating in additional cover of out-patient treatment.
10. Expenses relating to Pregnancy and childbirth. Such exclusion is not applicable for the additional cover of Maternity Benefit.
11. Routine health examination or check-up (in or out-patient), physical examination or medical consultation including gynaecological/ andrological examination not related to treatment of an insured illness or injury, routine tests and check-up for new- born, inoculations, vaccinations and preventative medicines (except for vaccinations after accidents or animal/insect bite); consultations or tests without prescription/diagnosis by Physician.
12. Normal eye tests, normal hearing tests, non-medical/natural refractive eye/hearing defects including but not limited to myopia, presbyopia and astigmatism and any corrective surgery for non-medical/natural degenerative sight and hearing defects;

Please refer to other exclusions at the Medical Care Insurance Wording at https://www.hsbc.com.vn/en-vn/insurance/products/medical-care/.

What is Car Insurance and how is it important to me?

Car Insurance provides a financial protection covering Compulsory Third Party’s Liability Insurance; Personal Accident Insurance for Driver and Passengers and Car Physical Damage due to:

• Crash collision, overturn, center of gravity accident, sink of whole car, other devices dropped on car, deliberate destruction behaviors of other(s).
• Fire, explosion.
• Natural disasters such as: storm, flood, landslip, thunderstorm, earthquake, hail, tornados.
• In case of total loss or damage above 75% of the car’s actual value or the repairing cost exceeds 75% of the car’s actual value, Bao Viet Insurance Corporation will indemnify for the insured car with its total value right at the time of accident/ loss.

Under Car Physical Damage coverage, a range of additional covers including Flooded automobile insurance, Non-depreciation for spare parts insurance, Repaired at genuine authorized garage.

What is Car Insurance type?

There are 03 types of coverages for you to choose from (together or separately):

• Car Physical Damage Insurance
• Personal Accident Insurance for Driver and Passengers
• Compulsory Third Party’s Liability Insurance

Is a car check required when I want to buy Car Physical Damage Insurance?

A car check is necessary for us to assess your car’s overall status to decide and take photos for Bao Viet]’s record unless your car is a brand new one.

Is my insurance guaranteed by HSBC?

Car Insurance is provided by Bao Viet Insurance Corporation (hereinafter referred as Baoviet). Hence, it is not an obligation of, deposits in or guaranteed by HSBC Bank (Vietnam) Ltd.

How can I make my premium payments?

Premium payment can be made through 01 (one) of 03 (three) channels as follows:

• Online Payment Gateway of Baoviet at link https://payment.baoviet.com.vn/paymentnetwork.
• Cash payment to Baoviet Insurance’s account at any counter of Baoviet Bank. Branch network of Baoviet Bank is available at link https://www.baovietbank.vn/vi/mang-luoi-hoat-dong.
• Funds transfer to Baoviet 's account at Baoviet Bank.

Beneficiary’s account information for cash payment /funds transfer:

• Account Name: Baoviet Insurance Corporation.
• Account Number: 0071033444000 at Baoviet Bank-Branch HO.
• Address: 1st and 5th Floor, Corner Stone Building, No 16 Phan Chu Trinh, Phan Chu Trinh Ward, Hoan Kiem District, Hanoi.

Is there any additional fees & charges applicable for Car Insurance?

No additional fees and charges other than insurance premium is required.

Is the insurance premium to remain unchanged?

Premium shall maintain unchanged during the insurance period unless there appear significant changes in insurance risk exposure.

Do I need to bear any deductibles?

A minimum compulsory deductible under Car Physical Damage Insurance is VND 500,000 / occurrence, which means you have to pay VND 500,000 for an occurrence before the insurer makes payment for the remaining expense.

Under Flooded Automobile Insurance and Stolen Component Insurance, additional deductibles are applied beside the minimum compulsory deductible.

• Under Flooded Automobile Insurance: deductible for damaged engine is 10% of compensation amount and at least VND 3,000,000/occurrence.
• Stolen Component Insurance: 20% of compensation amount and at least VND 2,000,000/occurrence.

Deductible calculation method: Final compensation amount = (I) - (II) - (III)

(I) Compensation amount under insurance policy

(II) Deductible amount under Flooded Automobile Insurance and/or Stolen Component Insurance

(III) Compulsory deductible at 500,000 VND/ occurrence

What will I receive after I buy a car insurance policy?

A full package of Certificate of Insurance and Policy Wordings will be sent to your mailing address by Baoviet.

Whom should I call if I need help or have any inquiry on my car insurance policy?

You may contact HSBC Relationship Manager who has arranged your policy or call Baoviet policy management number stated in your Certificate of Insurance should you have any queries about your policy.

I forgot to pay my renewal premium and my car insurance policy has lapsed. I still need protection. What should I do?

Renewal premium payment is required to be made before the car insurance policy expires. In case you fail to pay the renewal insurance premium on time, you should contact HSBC Relationship Manager for new application.

Can I have an insurance premium discount if I had no claim in the previous years?

Yes. No claim bonus discount will be offered upon renewal as follows:

No Loss: 10% premium discount

Loss less than or up to 50% paid insurance premium: 5% premium discount

Will my claim history affect the renewability of my policy and the renewal premium?

Unless in special circumstances where the loss is abnormally adverse, the car insurance policy will not be declined to renew. In cases when the loss ratio is considered high, Baoviet reserves the right to adjust your renewal premium as below:

Loss ratio above 150% but less than or equal to 200% paid insurance premium: 5% premium increase.

Loss ratio above 200% paid insurance premium: 10% premium increase.

We will, however, give you sufficient notification in advance.

After the car insurance policy is issued, can I change the level of protection or add any supplementary benefits?

Once the car insurance policy is issued, you cannot change the level of protection or add any supplementary benefits. Changes can be made at the renewal time subject to Baoviet's acceptance.

Can I change the frequency of payment after the car insurance policy becomes effective?

Full premium payment is required to be made one-off before inception. Instalment payment option is not available.

What should I do if I want to cancel my car insurance policy?

• For Car Physical Damage Insurance and Personal Accident Insurance for Driver and Passengers, you may terminate your policy at any time provided no claims have been made or payable during the policy period.
• For Compulsory Third Party’s Liability Insurance, the policy can only be terminated in special circumstances as regulated by law.

Should you wish to and are eligible to terminate the policy, you need to fill out Refund or Endorsement Request Form, have it sent to Baoviet 15 days in advance and return the Certificate of Insurance.

How much can I get back if I cancel the car insurance policy?

• For Car Physical Damage Insurance and Personal Accident Insurance for Driver and Passengers, Baoviet shall return a proportionate part of 70% of premium corresponding to the unexpired period of insurance.
• For Compulsory Third Party’s Liability Insurance, Baoviet shall return a proportionate part of 70% of premium corresponding to the unexpired period of insurance.

Premium refund is unavailable once there occurred any insured event.

The premium refund will be made within 15 days for Car Physical Damage Insurance and Personal Accident Insurance for Driver and Passengers or 05 days for Compulsory Third Party’s Liability Insurance.

Is there a hotline for claim inquiry?

In case of accident, please contact Bao Viet Insurance Corporation as soon as possible at hotline 1900 55 88 99 for claim guidance.

For physical damage insurance, in which case Bao Viet will not indemnify the loss or damage?

Baoviet will not indemnify the Automobile Owner for any loss or damage to the insured automobile due to:

1. Acts by an Automobile Owner, Driver, or beneficiary causing damage;
2. Driver does not have qualified driving license.
3. The certificate for technical safety and environment verification of the automobile is not valid at the time of accident when the automobile is joining traffic.
4. The driver has blood or breath alcohol contents exceed 50 milligrams/ 100 milliliters of blood or 0.25 milligrams/1 liter of breathing air or uses drugs and stimulants prohibited by the law.
5. Violation of traffic law such as: driving on restricted road, going in the opposite direction, crossing red light.
6. Racing (legal or illegal).
7. The automobile is used to transport prohibited goods as prescribed by law.
8. Losses occur out of the territory of the Socialist Republic of Vietnam.
9. Losses occur in case of war and terrorism.
10. Wear and tear; depreciation in quality or value, breakdown through defect or additional damage due to repair, during repair process.

For more exclusions, please refer to Physical Damage Insurance Wording at https://www.hsbc.com.vn/en-vn/insurance/products/car/.

Please specify the key advantages of THE GOOD LIFE. Why should I purchase this product?

THE GOOD LIFE is an optimal financial solution offer solid protection and peace of mind financially throughout one’s life. 

A flexible combination of financial protection and accumulated saving, THE GOOD LIFE helps customers be proactive in the planning and implementing a long-term financial plan with the following highlights:

• Products will coexist two accounts are protection account and saving account help customers maximize their saving plan as well as maintaining protection benefit throughout the term of policy.
• Customers have the flexibility to select the premium and the Sum Assured (SA) suitable for each stage of life. With the same premium, the customer can choose the Sum Assured in line with demand of protection by changing the premium multiples in the range allowed at inception or at any policy anniversary date. 
  
•  Product offers 2 benefit options: Level Death Benefit and Increasing Death Benefit, to help customers proactively decide the insurance value against risks of total permanent disability and death according to their needs. At the same time, the product allows customers to have the right to convert between the 2 benefit options when there is a change of insurance and saving needs in life. 
  
• Every key life event such as marriage or having new born child, when the liability of the pillar of a family will rise, customers will be entitled to increase the Sum Assured up to 25% of the current Sum Assured without providing proof of health and finance. 
  
• Customers will be awarded an extra accidental death benefit (before age 65) equivalent to 100% of current Sum Assured if premiums due are paid within the grace period.
  
• Customers will be advanced 25% of the Sum Assured from death or Total Permanent Disability(TPD) payable benefit upon diagnosis of Cancer to be able to cover the cost of treatment.
  

Please specify 2 insurance benefit options of THE GOOD LIFE and in which option should customers participate accordingly?

THE GOOD LIFE is developed with the aim of giving an enhanced financial protection, complete and flexible, suitable for many financial needs of customers.

THE GOOD LIFE provides 2 below death benefit options:

Level Death Benefit: Upon death or TPD (before age of 70) of the Life Assured during the policy is in force, the Company will pay the highest of:

1. 100% Current Sum Assured; or
   
2. Account Value

Increasing Death Benefit: Upon death or TPD (before age of 70) of the Life Assured during the policy is in force, the Company will pay the sum of:

1. 100% of Current Sum Assured or
   
2. Account Value
   

Depending on customer needs, Level Death Benefit will fit the needs of saving priority of customers; on the contrary Increasing Death Benefit will fit customers who desire to be insured more with the same level of premium and Sum Assured. 

Insurance product usually has Life Assured’s entry age limit of 60 years old, has the Company extended the entry age for THE GOOD LIFE?

Customers from 30 days old to 65 years old can participate in THE GOOD LIFE. The expansion from 61 to 65 years old age will contribute to meet the insurance needs of older customers.

With the flexible choice of SA, the Company will conduct a medical underwriting based on client’s selected SA or based on maximum SA?

When underwriting customers’ insurance policy, in addition to information declared in the application, the Company will base on selected SA of customer to define necessary evaluation requirements.

Example: Customer A 35-year-old, decides to close 20 million / year policy and selects SA 1 billion. Although with this premium he can be insured up to 2 billion, but the company is still based solely on SA 1 billion for underwriting. After that the customer changes SA, underwriting requests will depend on new changed SA.

Please indicate premium payment term and policy term of THE GOOD LIFE.

THE GOOD LIFE is a whole life insurance product, policy term is counted from the inception to the policy anniversary after the life assured is 100 years old. 

The premium payment term of THE GOOD LIFE will be equal to the policy term. 

Customer participates in THE GOOD LIFE, while the contract is in effect, customer suffers TPD. What is TPD Benefit? And will the Company pay benefits to customer once or divided into 10 installments in 10 years?

During the time the policy in force, if the Life Assured suffers from TPD before age of 70 (seventy), the Company shall pay insurance benefit in lump sum depend on insurance benefit which chosen by Policyholder.

Level Death Benefit: the Company will pay the highest of:

1. 100% Current Sum Assured calculated at time of TPD; or
   
2. Account Value calculated at time of TPD.
   

Increasing Death Benefit: the sum of:

1. 100% Current Sum Assured calculated at time of TPD; and
   
2. Account Value calculated at time of TPD.
   

Customer participates in THE GOOD LIFE Level Death Benefit for one-year-old child with 1 billion SA. What is insurance benefits of TPD or death if the insured event occurs to under 4-year-old child specifically?

If the insured event does occur with this customer prior to attaining age of 4, the company will pay the higher value of the existing Sum Assured (1 billion) or the Account Value, the Current Sum Assured will be adjusted as follow:

Assuming that the insured event occurs when the Life Assured is 2 years old and the Account Value at this time is 500 million, the Company will pay insurance benefits 600 million (current STBH after adjusting> Account Value)

If the Account Value at this time is 650 million, the Company will pay insurance benefits 650 million (Account Value> Current STBH after adjusting) 

Customer participates in THE GOOD LIFE Level Death Benefit for 1 year old child with 1 billion SA. Life Assured unfortunately meets accident leading to death when is 38 months old. At the time of occurrence of the insured event the insurance policy remains in effect and the basic premium has been paid in full and on time, Account Value at this time is 100 million. How does the company pay benefits in this case?

 One of the highlights of THE GOOD LIFE compared to similar products on the market is the death benefit provided by accident for the insured under 18 years.

For this case, the Company will calculate the benefit is paid as follows:

• Death benefit not due to accidental death: Comparing current SA after adjustment = 80% * 1 billion= 800 million and Account Value, the Company paid 800 million.
  
• Accidental death benefit: 80% (38 months) * 1 billion = 800 million
  

Total benefits paid to customer is: 800 million + 800 million = 1,6 billion.

Client A - 30 years old participates in THE GOOD LIFE Level Death Benefit for himself with 1 billion SA. 5 years later, when the policy is still in effect, Life Assured is diagnosed cancer, and then dies from cancer 2 years later. Account Value at the time of death is 750 million. How does the Company pay insurance benefits in this case?

The Company will pay benefits as follows:

1. In the 5th year contract, the customer A is diagnosed with cancer: The Company will pay in advance 25% of Sum Assured's current death benefit equivalent to 250 million to support the cost of cancer treatment. 
   
2. In the 7th year contract, when client A dies from Cancer: The company paid 750 million, this amount is determined based on the following details :
   
   1. Death benefit: comparing higher value of current SA (1 billion) and Account Value (750 million) → 1 billion
      
   2. Advanced paid cancers before: 250 million
      
   3. Also, customer has not owed the company any money yet.
      

Client A - 30 years old participates in THE GOOD LIFE Level Death Benefit for himself with 1 billion SA. 5 years later, when the policy is still in effect, Life Assured is diagnosed cancer, and dies two years later by accident. Account Value at the time of death is 750 million. How does the company pay insurance benefits in this case?

The Company will pay benefits as follows:

1. In the 5th year contract, the customer A is diagnosed cancer: The Company will pay in advance 25% of current Sum Assured's of death benefit equivalent to 250 million to support the cost of cancer treatment
   
2. In the 7th year contract, the customer A dies by accident: The company paid 1 billion 750 million, this amount is determined based on the following details: (a+b-c-d) if regular protection premium due is paid in full and on time; or the Company pay only 750 million if the customer does not pay any protection premium due during the occurrence of the insured event:
   
   1. Death benefit: comparing higher value of current SA (1 billion) and Account Value (750 million) → 1 billion
      
   2. Accidental death benefit: 100% Current STBH → 1 billion if regular protection premium due in during the occurrence of the insured event is paid in full and on time.
      
   3. Benefits paid cancers before: 250 million
      
   4. In addition, customer has not owed the company any money yet.
      

I see products of other companies having a contract loyalty bonus, has THE GOOD LIFE have this benefit, if any, how shall it be paid?

In order to recognize the long-term commitment of customers through premium payment due is paid on time and in full in the year the contract, the Company will pay an additional loyalty bonus at the 10th, 15th and 20th Anniversary Date as follows:

Total Calculated Bonus Amount is the total interest accumulated in the Protection Account from the 6th to 10th Anniversary Dates.  Interest at those anniversary dates is calculated as 50% of the accumulated interest credited into the Protection Account in 5 preceding years.

Note: To be entitled to this loyalty bonus, customers must pay each premium due at each premium due date in the preceding years. Assuming customer fully paid premium due in the first 4 years, but 2 years later (Year 5 & 6) he did not pay premium, then Year 7 to Year 10 he continued to pay. This customer is not qualified the terms and conditions then this benefit will not be paid.

At the time of the THE GOOD LIFE policy maturity, what does customer receive?

At the time of THE GOOD LIFE policy maturity, the Company will pay all Account Value.

When participating in THE GOOD LIFE, how to earn interest from premium paid?

THE GOOD LIFE is a safe and efficient investment solution. Account Value will be monthly calculated interest according to interest crediting rate announced by the Company. Interest crediting rate when announced means the interest earned from the actual performance of Universal Life Fund after deducting Fund Management Fee (2% / year). In any case, Interest Crediting Rate is not lower than the guaranteed rate that the Company commits as follow: 

When is customer allowed to withdraw money from THE GOOD LIFE Account Value? Please specify the provisions relating to the withdrawal.

 THE GOOD LIFE allow customers to withdraw money from the Account Value since 2^nd Policy Anniversary Date onwards provided that:

• Minimum withdrawal amount: 2 million / withdrawal
  
• The maximum withdrawal amount: 80% Protection Account Value
  

When withdrawal request is accepted by the Company, the Company will proceed following the order (i) Saving Account Value and (ii) Protection Account Value if withdrawal amount is higher than Saving Account Value at time of withdrawal.

Does a withdrawal from Account Value affect current SA of THE GOOD LIFE or not?

In the universal life insurance principle, withdrawals from Account Value do not alter the Sum at Risk.

For Increasing Death Benefit Policy, the Sum at Risk is always equal to current SA, therefore, the withdrawal from Account Value will not affect the current SA of the policy. 

For Level Death Benefit Policy, the Sum at Risk = current SA – Account Value, therefore, withdrawals from account will be able to alter the current SA of the policy.

• If Protection Account Value after the withdrawal >= current SA, current SA will remain unchanged.
  

Example: Account Value 200 million, current SA 150 million → Sum at Risk = 0 (when current SA - account <= 0, Sum at Risk = 0), customer requests to withdraw 10 million, Account Value after the withdrawal is 190 million → current SA is still 150 million (Sum at Risk = 0).

• If Protection Account Value after the withdrawal < current SA, current SA will drop to be equal to Account Value after withdrawal. 
  

Example: Account Value 200 million, current SA 150 million → Sum at Risk = 0, customer requests to withdraw 60 million, Account Value after withdrawal is 140 million → Sum at Risk = 10 million → current SA is 140 million (150-140-10 = 0).

• If Protection Account Value before withdrawal <= current SA, current SA after withdrawal will reduce equivalent withdrawals. 
  

Example: Account Value 200 million, current SA 250 million (Sum at Risk is 50 million), customer requests to withdraw 10 million, after withdrawing Account Value is 190 million → current SA is 240 million STBH (240-190 = 50).

When participating in THE GOOD LIFE, which requirements needed if customers want to increase or decrease SA?

Depending on the demand for protection and saving may vary by life stage, THE GOOD LIFE Policyholders changing SA shall meet specific requirements as follows: 

1. Increase in Sum Assured: the Policyholder may request to increase Sum Assured at any time from the 2nd Policy Anniversary Date onwards and before the Life Assured attains 65 (sixty five) years old; and:
   
   1. The Company may request for health evidence and insurable interest of the Life Assured.
      
   2. The increased Sum Assured is not exceeded the maximum Sum Assured stipulated by the Company at point in time.
      
2. Reduce in Sum Assured: the Policyholder may request to reduce in Sum Assured at any time from the 2^nd Policy Anniversary Date onwards and the reduced Sum Assured cannot be lower than the minimum Sum Assured which is stipulated by the Company at point in time.
   

Note: The maximum and minimum SA multiple will be based on the age at inception. Especially, reduction in Sum Assured after age 65 of Increasing Death Benefit policy will be applied the minimum multiple of SA at the age of 65.

When requesting to change the current SA within THE GOOD LIFE policy term, has the Company reissued the sales illustration sample (SIS)?

When the Company approved request of changing SA, the company will release the amendment and supplement letter of the insurance policy, this document is an integral part of the insurance policy. It is not necessary to perform the SIS, unless the customer has requested.

A 30- year-old customer participates in THE GOOD LIFE Increasing Death Benefit with SA 2 billion for himself, at the time of inception, he declared in application he had a matter of health & after underwriting, the company has approved with a condition subject to paying an additional cost of insurance. When he gets married, is there a guaranteed SA increasing without providing health and financial evidences or not?

One of the best features of THE GOOD LIFE that allows customers to increase up to 25% of the current Sum Assured without health and financial evidences when there are key life events as marriage or having new born child. This benefit can be done 2 times during the entire policy term and apply for policy accepted as standard policy. At the same time, guaranteed increased SA may not exceed 500 million on a Life Assured.

In the situation of Mr. A, since his policy is accepted on condition to pay an additional cost of insurance due to health status, upon his increasing SA request, the Company will conduct the underwriting and ask him to provide health and financial evidences if necessary. 

Please explain more clearly about the guaranteed increased SA 500 million in events of marriage or having new born child, has it been limited to a maximum SA multiple?

For example, customer 35 years old participated in THE GOOD LIFE with protection premium 20 million / year, he selected SA 1 billion (20 million * 50) although his maximum SA is 2 billion (20 million * 100), the policy is accepted as  standard policy. 

He married after joining THE GOOD LIFE over 2 years, then he requested to increase current SA up to 25%, and new SA is 1 billion 250 million. The new SA is still smaller than the maximum SA (2 billion) and increased SA is smaller than the maximum limit 500 million, therefore, the company will guarantee issued amendment and supplement to change his current SA without requirement to provide evidence of health and finance.

Also with this example, but customer selected SA 1 billion 800 million, and increased SA as required in this right is 450 million. At this time, the Company considers SA after requesting increase of 2 billion 250 million, the Company will accept the 2 billion (equal to the maximum SA) in case he does not want to pay additional protection premium. If he still wants to be insured at 2 billion 250 million, he needs to increase the protection premium to be covered under this level.

Customer A participates in THE GOOD LIFE Level Death Benefit for his son - 10 years old. When there is higher demand for insurance, can Mr. A convert from Level Death Benefit to Increasing Death Benefit?

THE GOOD LIFE has very high flexibility to meet the ever-changing needs of our customers. This product enables customers to convert from Level Death Benefit to Increasing Death Benefit or vice versa since the 2^nd Policy Anniversary Date onwards. Moreover, the conversion also meets conditional age limit.

The conversion from Level Death Benefit to Increasing Death Benefit before the Life Assured attains the age of 35 (thirty five) provided that the age of the Life Assured at time of Policy issuance is under 18 (eighteen) years old. In the case of Mr. A, he can convert to Increasing Death Benefit before his son reaches the age of 35 with a constant SA.

Customer A participates in THE GOOD LIFE Increasing Death Benefit for himself. Can A be possible to switch from Increasing Death Benefit to Level Death Benefit?

THE GOOD LIFE allows customers to convert from Increasing Death Benefit to Level Death Benefit from the 2^nd Policy Anniversary Date onwards. In case A wants to convert Level Death Benefit, he may require conversion before he reaches 65 years old.

Which riders may customer request when participating in THE GOOD LIFE?

In order to help customers fully and comprehensively cover for the whole family upon the risk of accident, hospitalization, critical illness; customers can participate in riders such as Accident Indemnity, Comprehensive Hospitalization, Early Critical Illness and Waiver of Premium for himself and for spouse or his own children on the same THE GOOD LIFE policy.

Please state minimum and maximum premium of THE GOOD LIFE?

With a flexible development, THE GOOD LIFE allows customers fully active in determining the protection premium as long as no less than 5 million / year and 3,5 million / half-year, 2 million / quarterly or monthly. There is no specified maximum levels for protection premium. For saving premium, customers can pay more at any time but not exceed 20% of the annual protection premium. There are no regulation on the minimum level of saving premium.

In case of participating in THE GOOD LIFE with riders, customer meets financial difficulty and must suspend premium, is the policy and its riders maintained in force?

With a flexible development, THE GOOD LIFE helps customers ensure their protection and saving plan through flexible premium allocation mechanism but requires a period of premium time as follows: During first 4 Policy Years: 

1. If the premium paid is sufficient for both Protection Premium due and all rides premium due, if any, this amount shall be paid for these two premiums.
   
2. If the premium paid is only sufficient for Protection Premium due and not sufficient for all riders premium due, this amount shall be paid for Protection Premium due and grace period 60 (sixty) days will start for all riders.
    
   If rider premium due is not paid at end of grace period, all riders will be lapse. The difference of actual collected premium will be paid for Protection Premium of the remaining Policy Year.
3. If the premium paid is not sufficient for Protection Premium, grace period will start for Protection Premium. If rider premium due is not paid at end of grace period, all riders will be lapse.
   
4. If Protection Premium of entire Policy Year and all riders premium (if any) are paid in full for entire Policy Year, any difference of actual collected premium and the Protection Premium of the entire Policy Year shall be paid for Saving Premium.

From Policy Year 5 onwards: 

1.  If the premium paid is lower or equal Protection Premium, this amount shall be paid for a part or whole of Protection Premium and grace period 60 (sixty) days will start for all riders (if any).
   If riders premium due is not paid at end of grace period, the riders premium shall be automatically deducted from Account Value. All riders will be lapse if Account Value is not sufficient for all riders premium.
   
2. If the premium paid is only sufficient for Protection Premium due and not sufficient for all riders premium due, this amount shall be paid for Regular Protection Premium due and grace period 60 (sixty) days will start for all riders (if any). 
   If riders premium due is not paid at end of grace period, the riders premium shall be automatically deducted from Account Value; All riders will be lapse if Account Value is not sufficient for all riders premium. 
   The difference of actual collected premium will be paid for Protection Premium of the remaining Policy Year
   
3. If the premium paid is sufficient for both Protection Premium due and all riders premium due, this amount shall be paid for Protection Premium and rider premium due. The difference of actual collected premium and Protection Premium due and all rider premium due will be paid for Protection Premium of the remaining Policy Year. The difference of actual collected premium and the Protection Premium of the entire Policy Year shall be paid for Saving Premium. 
   

Example: premium allocation from the 5th policy year onwards:

Customer participates in THE GOOD LIFE, pays Haft-Yearly protection premium 10 million and rider premium 2 million. 

At the beginning of 6th year policy, customer pays 15 million. At the present, premium will be allocated as follows:

• 10 million to be paid for protection premium
  
• 2 million to be paid for rider premium
  
• The remaining 3 million will be paid for the protection premium of the remaining policy year.
  

Also in the 6th year policy, on the next premium payment period, customer pays 8 million. At this time, premium will be allocated as follows:

• 7 million to be paid for the protection premium remaining (paid by 3 million in the previous period)
  
• 1 million remaining is not enough to pay for the rider premium due, therefore, the Company will start grace period of 60 days for renewal premium, if the customer pays more money for rider premiums sufficiently 2 million, this amount will be paid for rider. If after 60-day grace period that customer does not pay more money, 1 million fee will be calculated as saving premium, and rider premium is automatically deducted from the Account Value. Rider will lapse if Account Value is not sufficient to deduct rider premium. 
  

When Account Value is large enough and customers cannot afford to continue to pay the premium, can customers use Saving Account Value to pay protection premium?

For THE GOOD LIFE, withdrawals from Saving Account Value to pay protection premium can still be done. However, the Company will not automatically deduct from Saving Account Value to pay premium, customers need to make 2 transactions including :

1. withdrawals from Saving Account Value and then
   
2. paying protection premium as desired. 
   

In addition, customer will be given a grace period 60 (sixty) days to pay premium starting from the date of

1. Premium due if Protection Premium due is not paid in full in the first 4 Policy Years; or 
2. At the time Account Value is not sufficient for deducting Monthly Deduction Amount from Policy Year 5 onwards; whichever is earlier:
   

And, since the 5th year policy onwards, if the customer fails to fully pay the protection premium regularly, the company will automatically deduct cost of insurance and policy administrative monthly from Account Value while ensuring the benefits of the policy until Account Value is enough to pay for two these types of costs.

Please provide detailed allocation of protection premium and saving premium?

Protection premium will be allocated to protection account. Saving premium will be allocated to saving account. 

For example, customer pays protection premium 10 million / year and pays saving premium 5 million / year.

Why allocation charge of the first year policy is very high (Year 1: 90%, Year 2: 80%)? Does the contract lapse even when I pay enough premium, but Account Value is not enough to deduct monthly cost of insurance and policy administrative fee?

THE GOOD LIFE is the first product on the market removes Partial Withdrawal Charge and Surrender Charge. Besides, to ensure the cost of policy issuance and maintenance throughout the life of customer, allocation charge is concentrated in the first two years of the policy.

If customers pay protection premiums on time and do not make any partial withdrawal from the Account Value in first 4-year policy, the policy will be guaranteed validity with full insurance benefits even if the Account Value is insufficient to deduct month cost of insurance and admin charge. At the time customers continue to pay the premium, these costs will be deducted for the time that the Account Value was not enough to deduct. 

What is Cost of Insurance and how to determine Cost of Insurance of THE GOOD LIFE?

Cost of Insurance is the cost that the Company committed to pay insurance benefits such as Death, TPD, and cancer. Cost of Insurance is deducted from Account Value at every Monthly Anniversary Date during the policy is remain in force and until the Maturity date and based on the age and gender of the Life Assured.

For Level Death Benefit Policy: Cost of Insurance = (Current Sum Assured – Account Value) * Cost of Insurance rate 

For Increasing Death Benefit Policy: Cost of Insurance = Current Sum Assured * Cost of Insurance rate

While Sum Assured of death or TPD benefits is adjusted for children under 4 years, has Cost of Insurance of children under 4 years been revised as well or is 100% based on the Current Sum Assured?

Due to Death Benefit, TPD Benefit of child under 4 years are adjusted to 20% (the insured event occurs <1 year old), 40% (<2 years old), 60% (<3 years old) , 80% (<4 years old), Cost of Insurance will be adjusted in proportion to the benefits, as follows:

For Level Death Benefit Policy: Cost of Insurance = (% Current Sum Assured – Account Value) * Cost of Insurance rate

For Increasing Death Benefit Policy: Cost of Insurance = % Current Sum Assured * Cost of Insurance rate

Please indicate clearly about Administrative fee and what is difference from it and Allocation Charge?

 Policy Administrative Fee means the fee that the Company use for Policy maintenance and providing information related to this Policy. Policy Administrative Fee is VND 25,000 per month and may be changed but not exceed VND 60,000 per month. If there is any change in Policy Administrative Fee, the Company shall notify the Policyholder in writing 3 (three) months before application.

Whereas Allocation Charge is expense the company used to release the policy, underwriting, and pay commission to agents.

How is Fund Management Fee calculated and deducted? Is this fee reflected on Sales Illustration Sample (SIS)?

Fund Management Fee is the cost that the Company pays for managing the performance of the Universal Life Fund.  Current Fund Management Fee is 2% per annum of total asset value of the Universal Life Fund. The interest rate on SIS is deducted Fund Management Fee. It is also deducted before the Company declares Interest Crediting Rate.

For example, the actual interest rate of Universal Life Fund is 10% / year, Interest Crediting Rate is announced to customers 8% / year (10% - 2%).