Protection Products

Product code: D01-A06

Product Feature

Cathay loan protection product, a bank assurance product, is the solution to:

  • Help loaner and his/her relative assure with his/her loan.
  • Help bank avoids credit risks and be still safe in the case customer is misfortune to lose ability to pay the loan.
  • This is non-participating product.
Insurance Benefit
  • Death/ TPD Benefit:
    100% Decreasing Sum Assured.
    While this Policy is still effective, if the Insured becomes Death or Total and Permanent Disable, the company will pay to the Beneficiary* a Death or Total and Permanent disability benefit equal to 100% Decreasing Sum Assured** at the date that the insured event happened. Upon paying the Death for Total and Permanent Disability Benefit, this policy is then terminated.
  • Beneficiary * :
    • The Primary Beneficiary: the organization which provides a loan to the Insured and can not be changed during the term of loan.
    • The Contingent Beneficiary: (an) individual(s) or (an) organization(s) that has (have) been designated by the Insured or the lawful heir(s) of the Insured.
  • Decreasing Sum Assured ** :
    Being Sum Assured that equals to customer's loan and decreases according to every policy year with a suitable rate which company calculated before in order to guarantee benefits of customer is best and fullest.
Rules of Purchase
  • Insurance Term:
    From 2 years to 15 years.
  • Premium Paying Period:
    Single Payment.
  • Age Limit:
    Life Assured: from 18 to 65 years old minus Insurance Term.
  • Sum Assured Limitation:
    • Min: 100 million VND.
    • Max: 2.5 billion VND.
  • Rider: No rider.
  • Note:
    When Death or TPD benefit is paid, policy will be terminated.
Riders
There's no rider for this class
Content of this page is only for product introduction. For more details, please refer to the Terms and Conditions of the policy.