Generali Vietnam launches education-focused insurance solution
Generali Vietnam Life Insurance LLC (Generali Vietnam) recently launched “VITA – Cho Con” (VITA – For Our Children), the very first education-focused unit-linked insurance solution in the market. "VITA – Cho Con” effectively combines protection and investment to offer customers exceptional and unprecedented benefits associated with the learning and development process of their children.
The product aims to give parents peace of mind when building a solid educational foundation for their children with the opportunity to increase and accumulate assets through investment funds managed by two leading asset managers in Vietnam, VinaCapital and Dragon Capital.
VITA – Cho Con is designed to provide customers and their families with comprehensive protection against the risks of death, total and permanent disabilities “TPD”), critical illnesses, etc. For the first time in the Vietnam insurance market, in addition to the premium waiver benefit upon a parent’s death or TPD, Generali guarantees to issue a new insurance policy for their child without any underwriting required with sum assured of up to VND 10 billion.
As an education-focused unit-linked insurance solution, VITA – Cho Con offers many attractive bonuses to increase the value of the customer's accounts, including the Regular Bonus of up to 11 percent of average Target premium account. Of note, Generali Vietnam's unique “Child’s Companion” bonus program helps parents encourage and enable their children's comprehensive development with very attractive and practical rewards upon their achievements in their academic, sports, culture, art, science, community, etc. pursuits.
In addition, VITA – Cho Con offers policyholders great flexibility in determining the premium amount, sum assured and investment allocation in accordance with their risk appetite. Customers can flexibly adjust their investment plan (fund switch, fund withdrawal, top-up investment, premium holiday, etc.) when needed.
VITA – Cho Con features a unique investment strategy with four unit-linked funds being managed by the top two leading asset management companies in Vietnam in order to leverage their unique strengths to optimize customers’ investment returns. Generali’s unit-linked funds rose to lead the market in terms of investment returns in 2021, contributing to Generali Vietnam’s being honored “Leading investment-linked insurance product provider in Vietnam” at the Golden Dragon Awards 2022.
Last but not least, for each VITA – Cho Con policy successfully issued, Generali commits to contribute VND100,000 to “Sinh Con, Sinh Cha”, a parenting community education program run by Generali Vietnam and the National Fund for Vietnamese Children. This program features an innovative approach in sharing practical parenting knowledge and skills to parents and caregivers, while providing support to underprivileged families across the country.
Ms. Tina Nguyen, Generali Vietnam CEO, shared: “For Vietnamese people, the demand for suitable protection and investment solutions for our children has always been very strong. At Generali, finding the most effective solution to this demand is our passion and commitment. We believe that being designed specifically to meet this demand, with many built-in benefits closely associated with the learning and development process of the children, VITA – Cho Con will be the answer for many parents looking to protect and invest in their children’s future.”
VietNam Economic News