Chubb - Tự Do An Phúc
Chubb - Tự Do An Phúc is a combination of the Universal Life Insurance product and new-generation Attached Products. With outstanding features in protection and saving, Chubb - Tự Do An Phúc enables customers to take control and enjoy freedom in making decisions regarding: financial planning for the breadwinner, a secure educational future for their children, confidently starting a business, and enjoying a comfortable retirement.
Unique Selling Point
Financial Freedom: Flexibly choose the Face Amount and Premiums based on your needs at different stages of life.
Educational Freedom: Proactively secure tuition fees, ensuring a solid foundation for your children's educational future.
Entrepreneurial Freedom: Build an accumulation fund for a stable entrepreneurial journey.
Retirement Freedom: Enjoy peace of mind with a stable income throughout your retirement.
- Guaranteed interest rate of 6% per year for the first 2 policy years, effectively increasing account value.
- Refund of Cost of insurance (COI) for the first 10 policy years (under the Loyalty bonus Benefit).
- Flexible withdrawals, completely free of charge.
- Increase the Face Amount with no change in premium rates.
Important Information for Customers
I. INSURANCE BENEFITS AND INVESTMENT BENEFITS
Benefit |
Details |
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1. Death |
In the event of the Life Assured (LA) death, Chubb Life will pay: a. Option A: The greater of [Face Amount (FA) for Death Benefit and Target Premium Account Value (TPA)] plus Excess premium Account Value (EPA). b. Option B: · If LA < 70 years old: SA for Death Benefit + TPA + EPA · If LA ≥ 70 years old: The greater of [SA for Death Benefit and TPA] plus EPA. |
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2. Total and Permanent Disability (TPD) Benefit |
If the LA suffers from Total and Permanent Disability (TPD) before reaching the age of 75, Chubb Life will pay: a. 10% of the FA (up to VND 100 million) if the TPD is due to an early-stage thyroid cancer diagnosis. b.If the TPD is due to: · A late-stage thyroid cancer diagnosis; or · Other causes: Chubb Life will pay: Option A: The greater of [FA for TPD Benefit and TPA] plus EPA. Option B: · If LA < 70 years old: SA for Death Benefit + TPA + EPA · If LA ≥ 70 years old: The greater of [SA for TPD Benefit and TPA] plus EPA.
In the case of TPD due to a late-stage thyroid cancer diagnosis, Chubb Life will deduct the amount already paid for the TPD benefit due to an early-stage thyroid cancer diagnosis (if applicable). A 90-day waiting period applies for TPD caused by illnesses.
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3. Investment |
Customers will receive benefits from the investment results of the Universal Life Fund. These benefits will be added to the Account Value in the form of monthly interest based on the declared interest rate, which will not be lower than the following minimum rates:
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4. Loyalty bonus |
While the policy is in force, on the policy anniversary of the 7th, 8th, 9th, 10th, and 20th policy years, Chubb Life will add a percentage of the total deducted risk charges to the EAV as follows:
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5. Maturity benefit |
100% of the Account Value on the policy maturity date. |
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6. Guaranteed Policy Continuation Benefit |
During the first 3 policy years, this Universal Life product guarantees policy continuation even if the Account Value is insufficient to cover monthly deductions, provided that: a. The Policyholder pays the full and timely Target Premium; and b. The Policyholder has not made any withdrawals from the Target Account Value.
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II. GENERAL INFORMATION CUSTOMERS SHOULD NOTE
- Entry Age: From 1 month old to 65 years old.
- Policy Term: Until age 99.
- Premium Payment Term:
o Equal to the Policy Term.
- Premium Payment Frequency: Annual/Semi-Annual/Quarterly.
- Must-pay period: First 3 policy years.
- Excess premiums must meet the minimum and maximum limits set by Chubb Life and cannot exceed 5 times the Target Premium of the current policy year.
· Customers should pay premiums on time to ensure the policy remains in force with full benefits. The policy will lapse if (i) premiums are not fully and timely paid during the first 3 policy years and/or (ii) the Account Value is insufficient to cover the deduction charges.
· Customers are advised to carefully read the Terms, Conditions, and Provisions of the Universal Life Insurance Product to fully understand the exclusions.
· Customers should pay premiums on time to ensure the policy remains in force with full benefits. The policy will lapse if (i) premiums are not fully and timely paid during the first 3 policy years and/or (ii) the Account Value is insufficient to cover the deduction charges.
· The policy will incur deduction charges, including Initial Charges, Policy Administration Fees, COI, Fund Management Fees, etc. Detailed information is provided in Article 9, Section B of the Terms, Conditions, and Provisions of the Universal Life Insurance Product.
EXCLUSIONS
Chubb Life will not pay insurance benefits if the insured event occurs due to any of the following reasons:
1. In the case of death:
a) Suicide, attempted suicide, or intentional self-inflicted injury, regardless of mental state.
b) HIV infection, AIDS, or diseases related to HIV/AIDS.
c) Illegal use of drugs or other addictive substances.
d) Execution of a death sentence.
e) Intentional acts by the LA, Policyholder, or Beneficiary.
2. In the case of Total and Permanent Disability:
a) Suicide, attempted suicide, or intentional self-inflicted injury, regardless of mental state.
b) Participation in aviation activities, except as a passenger or crew member on regular flights.
c) Pre-existing conditions, unless fully and accurately disclosed in the insurance application and accepted by Chubb Life.
d) Illnesses diagnosed, treated, or with medical evidence during the waiting period.
e) Intentional acts by the LA, Policyholder, or Beneficiary.
For more details, refer to Article 6 of the Terms, Conditions, and Provisions of the Chubb – Tự Do An Phúc Product.
Attached Products
1. Health protection – Chubb Care
2. Health protection – Extended Accidental Death or Disability
3. Health protection – Extended Hospitalization Support
4. Health protection – Extended Critical Illness