Ktetaichinh’s Blog

December 10, 2009

Risk insurance applied on consumer lending with secured assets

Filed under: Uncategorized — ktetaichinh @ 3:34 am

VNBusinessNews.com – Along with the insured deposit products such as “Loc bao toan” and “Loc bao an”, the consumer loans with collaterals at Asia Commercial Joint Stock Bank (ACB) also carry the risk insurance.

This is one of associated product between ACB and Previor Vietnam life insurance Company, aiming to insure consumer loan borrowers at ACB.

The cooperation between two parties will increase insurance value for ACB’s borrowers aged 20-60. In case, the customers unfortunately have to face risks (death, permanent injury by all reasons); Previor Vietnam will be on behalf of customers to pay whole remaining loans to ACB.

Therefore, when taking mortgaged consumer loans at ACB, customers will enjoy the risk insurance for their bank loans at the most preferential fee along with available preferences and simple lending procedures.

At present, ACB launched the product for its all branches and transaction points in HCM City and then in the country.

Talking with Dau Tu Chung Khoan, Ly Ngoc Thanh Mai in charge of ACB’s associated products said that the bank’s goal is to bring utilities to customers through options of insurance purchase as taking mortgaged consumer loans at ACB.

Since 2005, Previor Vietnam and ACB have marked cooperation in launching many Bancassurance products such as “Insurance for borrowers” for consumer lending, “Loc bao toan” for term depositors at ACB. Till now, ACB has over 12,000 customers using loans and deposits insured by Previor Vietnam.

ACB said, in the upcoming time, two parties expect to bring maximum interests and the most absolute secure for customers as accessing financial banking products at the bank.

In addition, ACB signed partnership deals with some other insurers including Manulife Vietnam with “An tam bao gia” mix insurance product (for accident, health, saving) in 10 years, “An phuc gia” for individual accident insurance in five years for ACB’s existing customers.

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