Insurance is designed to protect you and your family financially should something unexpected happen in life. Purchasing insurance is always a personal decision, determined by your current life situation – for example, age, family, lifestyle or existing employment benefits. When working out which insurance is best for you, it helps to discuss this with a agency advisor but here are some basic summaries to help you.
Universal Life product is under investment product type which advantaged by provide long-life protection (Ex: until 99 years old) as well as saving feature to accumulate the savings.
Health insurance can protect you and your family against medical costs. If you do not have health coverage from your employer, then a private plan is advisable. Given the continuous rise in medical costs, you can’t afford to ignore the need to prepare for the medical costs. Most health insurance products offer a variety of plans ranging from basic coverage to more extensive benefits. Always check what is covered by the plan, as well as any limits on reimbursements.
When accidents happen they lead to injuries, medical treatments, disabilities or worse, and the last thing you want to worry about is your finances. If you are unable to work after an accident, your personal savings can easily be used up. Accident insurance provides financial protection if an accident results in a disability, hospitalisation or death. It can also help pay for access to premium medical treatment. You can’t predict when accidents happen, but you make sure you have appropriate financial protection.
The most common chronic diseases are heart attacks, strokes, and cancer. These illnesses often result in medical emergencies with high medical costs. With critical illness insurance, usually a lump sum of cash will be given out, which can be used to help cover for your medical expenses so you and your family can focus on recovery and rehabilitation. General insurance is sometimes called to as non-life insurance and refers to other types of personal insurance, such as home insurance, auto insurance and travel insurance. Policies protect against loss from an incident, other than death. This can include fire, loss, theft or damage.
Choosing the right plan depends on what you can afford and the areas where you feel you need to be most protected and so is always a personal decision. However, there are some general steps to take when going through the process of buying insurance:
- Know what you need – understand what you’d like to get coverage for and how much you can or would like to spend for insurance
- Check the options available – compare the benefits offered, as well as what is not covered.
- Pick the right plan - select the plan you feel best fits your requirements.
- Pay the premium – start paying the premium and don’t stop or you won’t be protected.
Before taking out life insurance, you should assess your financial situation and work out how much would be required to meet the need for which you are taking out the policy. This could be the cost of maintaining a certain standard of living for your dependents, covering funeral costs or to pay off a mortgage. Add up the costs, account for inflation, and that is how much coverage you need to buy. It is useful to assess this annually, as changing life circumstances may require you to increase or decrease the coverage.
Don’t forget, insurance companies evaluate each life insurance purchase on a case-by-case basis. In general, younger and healthier individuals will be offered lower premiums, as they are less likely to die soon. For older people, or those with medical issues or other high-risk factors, you can expect to pay higher premiums. Many insurers require a medical test prior to purchase due to the risk they are undertaking by insuring a person.
It is recommended that you sit down with your Chubb Life Vietnam agents before making your choice. They can help you decide which product is the right one for your needs and best fits your budget.
Life protection for Invidiuals & Families: https://www.chubb.com/vn-en/personal/life-protection.html
or contact Chubb Life Vietnam to find out information about insurance packages specifically for you at:
Hotline: *8123 or (84 28) 3827 8123
Fanpage: Chubb Life Viet Nam