Dai-ichi Life offers options for counter

Dai-ichi Life Insurance Co of Vietnam, Ltd., or Dai-ichi Life Vietnam, yesterday launched its Index Option with an aim to help release policy holders of its Universal Life product from inflation concerns.

The IndexOption will provide customers with higher security to make the most suitable financial plans for themselves and their families Dai-ichi Life Vietnam said in a statement obtained by the Daily.

Takashi Fujii, Dai-ichi Life Vietnam’s chair and general director, explained that recent inflation had caused major concerns for financial planning, especially insurance policyholders. He added that money depreciation would affect the value of their insurance policies in the future.

“To acknowledge these concerns, we have researched to find out an efficient solution for this matter. We also expect that the Index Option will provide customers with higher levels of financial security and the ability to actively respond to changes in the economy;’ Fujii said.

Policyholders have two options. With the Protection Option, life insurance protection value will automatically increase by 5 percent or 10 percent every year during the index term without medical re-examination. The increase aims to protect the life insurance value amount, especially during periods of high inflation.

With the Saving Option, the IndexOption provides a planned premium with an annual 5 percent or 10 percent increase during the index term. Therefore, the policy account value will accumulate and increase significantly. It will ease the impact of inflation and protect customers’ long-term financial plans. Universal Life policyholders can choose one or both of the options. Product features like flexibility and transparency will still apply.

Dai-ichi Life Vietnam launched Universal Life in 2008. The company has since developed the product’s features by determining customers’ practical needs and expectations at every phase of life.

The Saigon Times Daily

Tags: Dai-ichi Life, Vietnam insurance industry, Vietnam insurance market