Bao Viet breaks record by payings 9.8 billion VND to an individual insured

Nguyen V.H is a business owner in Hanoi, who has had his first risk insurance policy with Bao Viet Holdings since 1999 with the aim of avoiding possible risks for his future life and business.

In the following years, he continued buying more insurance packages for himself and for other family’s members from the insurer.

What is more, Nguyen, as a business owner, bought life insurance policies for his employees, which has been seen as his strategy to retain talents and to increase welfare benefits for his key staff. These insurance policies have fallen due twice and the insurer has paid him the dividends, accordingly.

In April 2009 when many of his life insurance contracts became mature, he decided to buy a Bao Viet life insurance policy that cost 120 billion VND per year and was valued at 1.8 billion VND.

4 years later, H continued to buy his second Bao Viet life insurance policy, which required him to pay 500 million VND of premiums per year but offered a benefit of 8 billion VND at the maximum.

Besides his own insurance policies, he has so far held 6 Bao Viet life insurance policies for his 6 family’s members and 29 insurance policies for his employees.

At the beginning of 2016, H was found to have a metastatic cancer. Immediately after receiving the records of his fatal illness from H’s family, Bao Viet insurance quickly completed the procedure and paid 1 billion VND directly to the hospital in accordance with H’s two life insurance policies (each worth 500 million VND).

In early 2017, H passed away. Bao Viet paid 9.8 billion VND to his family on April 13th in accordance with his two life insurance policies.

Since its establishment, Bao Viet Holdings has been planning and protecting insurance benefits for more than 5 million clients, and paying up to 30,000 billion VND of insurance benefits and matured policy dividends to its customers.