What is kết quả bóng đá trực tiếp? What benefits do kết quả bóng đá trực tiếp buyers enjoy in Vietnam?

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1. What is kết quả bóng đá trực tiếp?

According to the provisions of Clause 22, Article 4 of theLaw on Insurance Business 2022, kết quả bóng đá trực tiếp refers to the insurance service meant for low-income individuals and families in order to offer them protection against life, health and property risks.

Characteristics of kết quả bóng đá trực tiếp products in Vietnam

According to the provisions of Article 144 of theLaw on Insurance Business 2022, a kết quả bóng đá trực tiếp product shall have the following basic characteristics:

- It must be concise, easy to understand; needs to involve streamlined or simplified actuarial procedures; or requires no actuarial service.

- It merely includes insurance benefits to meet basic demands for protection against life, health and property risks for participants in coverage plans that last no more than 05 years;

- The sum insured per an insurance contract and annual costs of coverage for each insured person in a contract shall not exceed the maximum limit specified in the Government’s regulations.

Organization providing micro insurance products

According to the provisions of Clause 1, Article 2 ofxem bóng đá trực tiếp, entities providing kết quả bóng đá trực tiếp products, including:

- Non-life insurers, life insurers, health insurers (hereinafter referred to as “insurers”), and branches of foreign non-life insurers established and operating in Vietnam;

- Mutual kết quả bóng đá trực tiếp organizations established and operating in Vietnam.

Mutual providing kết quả bóng đá trực tiếp product refers to an entity that has legal personality, independent accounting regime; is founded by members or institutional representatives of members to render not-for-profit kết quả bóng đá trực tiếp product in order for members participating in insurance to offer mutual aid or support to each other according to the mechanism of voluntary contribution, financial autonomy and self-responsibility before law if such aid or support is restricted to their assets generated from kết quả bóng đá trực tiếp product. (According to Clause 23, Article 4 of theLaw on Insurance Business 2022).

Thus, refers to the insurance service meant for low-income individuals and families in order to offer them protection against life, health and property risks Organizations providing kết quả bóng đá trực tiếp include insurance enterprises, branches of foreign insurance enterprises and mutual organizations providing kết quả bóng đá trực tiếp.

2. What benefits do kết quả bóng đá trực tiếp buyers enjoy in Vietnam?

According to the provisions of Article 4 and Article 5 ofxem bóng đá trực tiếp, micro insurance buyers enjoy the following benefits:

For kết quả bóng đá trực tiếp products provided by insurers and branches of foreign non-life insurers

- When launching their kết quả bóng đá trực tiếp products, insurers and branches of foreign non-life insurers shall be required to meet the requirements laid down in the Law on Insurance Business and its guiding documents, and the provisions of Article 3, Article 4 and Article 6 ofxem bóng đá trực tiếp.

- Life insurers may provide kết quả bóng đá trực tiếp products for protection against life and health risks with a maximum insurance term of 05 years.

- Non-life insurers and branches of foreign non-life insurers may provide:

= kết quả bóng đá trực tiếp products for protection against life and health risks with a maximum insurance term of 01 year;

= kết quả bóng đá trực tiếp products for protection against property risks with a maximum insurance term of 05 years.

- Health insurers may provide:

= kết quả bóng đá trực tiếp products for protection against life risks with a maximum insurance term of 01 year;

= kết quả bóng đá trực tiếp products for protection against health risks with a maximum insurance term of 05 years.

- Names of kết quả bóng đá trực tiếp products provided by insurers and branches of foreign non-life insurers must contain the phrase “Sản phẩm bảo hiểm vi mô” (“kết quả bóng đá trực tiếp product”) for distinguishing between their kết quả bóng đá trực tiếp products and other insurance products.

For kết quả bóng đá trực tiếp products provided by mutual kết quả bóng đá trực tiếp organizations

Mutual kết quả bóng đá trực tiếp organizations may only provide kết quả bóng đá trực tiếp products with a maximum insurance term of 01 year to meet demands of their members. Such kết quả bóng đá trực tiếp products cover one or some of the following insurance benefits:

- Health care benefit: partial or entire costs of inpatient treatment and surgery will be covered when the insured is hospitalized or undergoes surgery within the scope of insurance cover.

- Accident insurance benefit: an amount will be paid in proportion to the severity level of injuries incurred by the insured as agreed upon in the kết quả bóng đá trực tiếp contract when the insured suffers injuries in an accident within the scope of insurance cover.

- Death or total permanent disability (TPD) insurance benefit: the beneficiary will receive a payout under terms and conditions of the kết quả bóng đá trực tiếp contract when the insured passes away or suffers TPD within the scope of insurance cover.

- Funeral expense benefit: an amount of funeral allowance will be paid under terms and conditions of the kết quả bóng đá trực tiếp contract upon payment of death benefit.

- Property insurance benefit: the insurance indemnity will be paid under terms and conditions of the kết quả bóng đá trực tiếp contract when the insured property damage occurs due to the causes within the scope of insurance cover.

Thus, micro-insurance buyers enjoy benefits corresponding to micro-insurance products protecting the life and health risks they participate in for a certain period, including care benefits. health insurance, accident insurance, death/disability insurance, funeral benefits, property insurance.

Some notes when buying micro insurance

According to Article 3 ofxem bóng đá trực tiếp, the insurance amount and maximum premium of micro insurance products are prescribed as follows:

- The sum insured under a kết quả bóng đá trực tiếp contract for protection against life and health risks shall not exceed 05 times the annual per capita income for near poverty households in urban areas announced by the Government at the time of launching the kết quả bóng đá trực tiếp product.

- The sum insured under a kết quả bóng đá trực tiếp contract for protection against property risks shall exceed neither the market price of the insured property at the time of conclusion of the contract nor 05 times the annual per capita income for near poverty households in urban areas announced by the Government at the time of launching the kết quả bóng đá trực tiếp product.

- The annual insurance premiums of a kết quả bóng đá trực tiếp contract shall not exceed 5% of the annual per capita income for near poverty households in urban areas announced by the Government at the time of launching the kết quả bóng đá trực tiếp product. Insurance premiums must be appropriate for insurance benefits.

Key word: insurance | microinsuranc | kết quả bóng đá trực tiếp products | in Vietnam |

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