Spouse Term Rider

Death Benefit

• The Death Benefit is equal to 100% of the face amount of the rider.

Total and Permanent Disability (TPD) Benefit

• The TPD Benefit is equal to the Death Benefit. The benefit shall be made in 10 instalments over 10 (ten) years, and the payment value for each year is equal to 1/10 (one-tenth) of the Total TPD Benefit
• If the spouse dies before 10 such payments have been made, Chubb Life will pay the remaining amount in one lump sum

Waiver of Premium Benefit

• To share the loss and risk in the event that the Main Insured dies or suffers TPD, Chubb Life will waive the premium for the rider as a token of condolence
• With this deeply compassionate benefit, Chubb Life will waive the premium for this rider in the future and until the maturity date. The rider will then be automatically converted into a base Level Term Plan with the same term equal to the remaining period of the rider. The spouse automatically becomes the Policyholder and the Insured of the new (converted) Level Term policy.

Product Conversion Benefit

• In order to provide more benefits for the spouse as a way of sharing, managing risks and taking more responsibilities, Chubb Life will also provide the spouse with the Product Conversion Benefit without him/her undergoing a medical check-up should the main Insured die or suffer TPD.
• The spouse can request the conversion of the rider into a Universal Life or Whole Life policy with the face amount being EQUAL to or LESS than the face amount of the rider without undergoing a medical check-up. Once the spouse becomes the Policyholder, he/she will be automatically insured in accordance with the converted policy.
• However, Chubb Life will not waive the premium for the converted policy
  Note: Once having agreed to use the Product Conversion Benefit without undergoing a medical check-up, the Spouse is understood to have annulled the Waiver of Premium Benefit.
• This is a non-participating and without-cash-value product
• The insured age is from 18 to 55/50/45 years, which correlates to the insured term of 10/15/20 years, respectively
• The minimum face amount is VND 100 million and the maximum is equal to the face amount of the main policy for the Universal Life – Family Package
• Payment frequency: in accordance with the main policy (quarterly, half-yearly, yearly)
• Inclusion: Family Package Universal Life

Please see full details of the BBQ and Policy Wordings as below:

• Product Description
• Policy Wordings
• Appendix

This document provides basic information about the product(s). Please contact Chubb Life Sales Team or hotline on (84.8) 38 27 8123 for more details.