GIC introduce critical illness insurance with “dual functions”
4/10/2024
On April 10, 2024, Global Insurance Corporation (GIC) introduced a new product called "Critical Illness Insurance". The product was created with the intention of sharing the financial burden with patients and their families who are suffering from one of the following diseases: Cancer, First stroke, First myocardial infarction, Cardiac bypass surgery, coronary artery.
According to data, major diseases such as cancer and cardiovascular disease are on the rise in Vietnam, with the average age of illness decreasing. In cancer alone, the number of cases and deaths tripled during 30 years (1990-2020). There are an estimated 353,000 persons living with cancer in Vietnam, and the country's cancer incidence and mortality rates are rising (*).
With the progress of medicine, those who receive early detection and appropriate treatment stand a good chance of recuperating and returning to their regular lives. However, the patient's and his family's expenses and time are frequently greatly increased by the course of treatment and rehabilitation.
GIC has created a Critical Illness Insurance product with "dual functions" in response to this worry, assisting Vietnamese families in lessening the financial strain in the event that a family member becomes ill or disabled. The patient is able to give their complete attention to their treatment and recuperation as a result.
In particular, clients who participate in GIC's critical illness insurance and are unlucky enough to receive a diagnosis of a covered critical illness for the first time (such as cancer, stroke, myocardial infarction, or coronary artery disease with an impending bypass surgery), not only receive the full insurance amount of 150,000,000 VND to cover living expenses and treatment, but also receive extra support from GIC for members. early identification and prevention of disease symptoms, as well as screening for serious illnesses running in the family.
GIC & Home Credit introduced new products on April 10, 2024 (Photo: GIC)
"With this product, we not only provide an insurance product but also a commitment to improving the quality of life and the health of Vietnamese people," said Mr. Hoang Quoc Cuong, Director of GIC Business Development & Marketing Division.
According to data, major diseases such as cancer and cardiovascular disease are on the rise in Vietnam, with the average age of illness decreasing. In cancer alone, the number of cases and deaths tripled during 30 years (1990-2020). There are an estimated 353,000 persons living with cancer in Vietnam, and the country's cancer incidence and mortality rates are rising (*).
With the progress of medicine, those who receive early detection and appropriate treatment stand a good chance of recuperating and returning to their regular lives. However, the patient's and his family's expenses and time are frequently greatly increased by the course of treatment and rehabilitation.
GIC has created a Critical Illness Insurance product with "dual functions" in response to this worry, assisting Vietnamese families in lessening the financial strain in the event that a family member becomes ill or disabled. The patient is able to give their complete attention to their treatment and recuperation as a result.
In particular, clients who participate in GIC's critical illness insurance and are unlucky enough to receive a diagnosis of a covered critical illness for the first time (such as cancer, stroke, myocardial infarction, or coronary artery disease with an impending bypass surgery), not only receive the full insurance amount of 150,000,000 VND to cover living expenses and treatment, but also receive extra support from GIC for members. early identification and prevention of disease symptoms, as well as screening for serious illnesses running in the family.
GIC & Home Credit introduced new products on April 10, 2024 (Photo: GIC)
"With this product, we not only provide an insurance product but also a commitment to improving the quality of life and the health of Vietnamese people," said Mr. Hoang Quoc Cuong, Director of GIC Business Development & Marketing Division.
GIC wants to be able to help patients and their families with some of the cost (Photo: Stock))
GIC formally offered its goods through partner Home Credit during the first phase. With regard to the two prior products, Comprehensive Motorbike Protection Insurance and Comprehensive Mobile Device Protection Insurance, this strategic partner has worked with GIC since 2015.
The critical illness insurance policies that GIC offers and that Home Credit distributes include a number of exceptional features, including:
• Insurance coverage for the four most prevalent critical illnesses: Cancer (including early stage cancer), Stroke, Myocardial infarction, and Toxic coronary artery bypass surgery.
• Comprehensive financial protection for families performing "dual functions":
- A full payment of 150,000,000 VND is due when the customer is diagnosed with a disease in accordance with the product's terms and conditions. Customers can use this money to pay for treatment, daily living expenses for their families, debt repayment, and so on.
- An additional 10,000,000 VND for customers' families to conduct screening for serious diseases.
• Fees begin at just over 1,000 VND a day, which is a reasonable fee to help reach the majority of Vietnamese people.
GIC and Home Credit have the same objective of providing practical and appropriate financial solutions to the Vietnamese people. They constantly research and offer new insurance products, allowing clients and their families to live life with peace of mind. live, even when confronted with unexpected circumstances. At the same time, improve the client experience by offering meaningful insurance advantages.
(*) Source: Dan Tri
GIC formally offered its goods through partner Home Credit during the first phase. With regard to the two prior products, Comprehensive Motorbike Protection Insurance and Comprehensive Mobile Device Protection Insurance, this strategic partner has worked with GIC since 2015.
The critical illness insurance policies that GIC offers and that Home Credit distributes include a number of exceptional features, including:
• Insurance coverage for the four most prevalent critical illnesses: Cancer (including early stage cancer), Stroke, Myocardial infarction, and Toxic coronary artery bypass surgery.
• Comprehensive financial protection for families performing "dual functions":
- A full payment of 150,000,000 VND is due when the customer is diagnosed with a disease in accordance with the product's terms and conditions. Customers can use this money to pay for treatment, daily living expenses for their families, debt repayment, and so on.
- An additional 10,000,000 VND for customers' families to conduct screening for serious diseases.
• Fees begin at just over 1,000 VND a day, which is a reasonable fee to help reach the majority of Vietnamese people.
GIC and Home Credit have the same objective of providing practical and appropriate financial solutions to the Vietnamese people. They constantly research and offer new insurance products, allowing clients and their families to live life with peace of mind. live, even when confronted with unexpected circumstances. At the same time, improve the client experience by offering meaningful insurance advantages.
(*) Source: Dan Tri
Global Insurance Corporation
