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Single Premium Credit Life

The best choice for loans

Realize your dream of a new home, expanding your business, investing for upcoming season or preparing school fees for your child... by loans become popular.

We always wish the best for your loved ones. However, if borrowers unfortunately meet the risks of life, who will continue to pay the loans and how will your collateral be like?

Single Premium Credit Life helps customers no worry about the outstanding balance of loan from the risks of life and wholeheartedly do your dreams. With lum sump premium payment only, Single Premium Credit Life ensures that the policy is in force during policy term. And you you won't be worried about the future premium. 

Outstanding benefits of Single Premium Credit Life

  • Support to pay for outstanding balance of loan if borrower suffers from Death or Total Permanent Disability.

  • Lump sum payment – Long term protection

  • Flexibly choose Sum insured with 100% outstanding balance of loan; or a proportion of outstanding balance of loan.

  • Still protect if loan policy is terminated.

Single Premium Credit Life – Protection Benefit

If unfortunately Life insured suffers from Death or Total Permanent Disability, Vietcombank – Cardif will pay 100% Sum insured at insurance event date. This benefit help customers:

  • Pay for outstanding balance of loan; and

  • Remaining benefits will be paid to the Beneficiary who is nominated by the Policy Owner.

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Benefit illustration

Mr. A has a loan at Vietcombank with loan amount 360 million VND, loan term is 18 months, periodic loan frequency is monthly, periodic loan amount is 20 million VND. Mr. A buys Single Premium Credit Life.

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After 6 months, unfortunately Mr. A suffers from Total Permanent Disability, Vietcombank – Cardif will pay 285 million sum insured as below:

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Who can buy this product?

  • Credit individual consumers of Vietcombank.

  • Entry age from 18 to 65 years old.

Policy term

  • From 1 to 20 years and equal to loan term or remaining loan term.

  • Policy term doen’t exceed maximum expiry age is 70 years old.

Sum insured

Customer can choose initial Sum insured is:

  • 100% outstanding balance of loan; or

  • A proportion of outstanding balance of loan depend on customer demand.

Depend on the loan term and loan principal payment scheme, initial sum insured will will constantly decreases by month, quarter, semi-annually or annually during the policy term and equal to 0 (Zero) at maturity date.

Please refer Terms and Conditions of this product for the more detail