AIA Vietnam launches new comprehensive life insurance product

Wayne Besant, CEO of AIA Vietnam, at a press conference on the product launch.

Unlike other life insurance products, "Healthier 100" is designed to provide financial support to customers against health risks from the early stages of cancer, with an advanced benefits option.

The product aims to address the increasing rate of cancer in Vietnam. Accordingly, customers will be assisted financially when diagnosed with early-stage cancer, localized carcinoma, serious cancers as well as 23 other serious diseases at early stage and 45 at serious level.

Besides young customers, middle-aged and elderly groups are also covered, with the risk of cancer in the latter two groups up to 70.38 percent, according to online scientific site ourworldindata.org. Thus, "Healthier 100" extends coverage to 100 years of age.

In addition, when participating in "Healthier 100", customers can actively choose payment periods of 12, 15, or 20 years.

"Healthier 100" provides 100 percent cancer protection (with advanced benefit options, depending on degree and stage of cancer). Coverage remains the same regardless of payment length.

The press conference attracted many guests to attend.

AIA Vietnam also provides customers free-of-charge call center assistance with doctors consulting on cancers and serious diseases while related staff answering questions on claiming insurance benefits.

There is no such thing as overprotection when it comes to your and your family’s health. Health protection must be 100 percent, especially from cancers and several other serious diseases. This is the message AIA Vietnam wants to share with its customers via its new "Healthier 100".

"As a business operating in the insurance field, we believe there is always a solution for every incident in life, especially in terms of finance and health. Today, along with the increasing development of medicine, the sooner the cancer diagnosis, the higher the survival rate. That is why AIA Vietnam introduced "Healthier 100" to help customers with financial resources to treat cancer and serious diseases from an early stage," said Wayne Besant, CEO of AIA Vietnam.

According to World Health Organization statistics, Vietnam reports nearly 165,000 new cases of cancer each year, with the number of deaths increasing to 115,000, equivalent to nearly 70 percent. The high cost of treatment and late diagnosis are the main causes behind increasing mortality.

Over 300,000 Vietnamese between 15 to 70 years-of-age are struggling with cancer each year. It is forecast the number of new cancer cases in Vietnam would reach 200,000 by 2020. The cancer incidence rate in Vietnam is not high compared to other countries, though the associated mortality rate is - at about 104.4 in every 100,000, ranked 56 among 185 countries and territories.

The leading cause of the increased rate of death from cancer is late diagnosis. Published data from the Vietnam National Institute for Cancer Control shows about 70 percent of Vietnamese cancer patients are diagnosed at the terminal stage, making it difficult and costly to treat, reducing the opportunity to prolong their lives. Individuals paying medical expenses on their own will also have their life quality affected. Thus, in addition to cancer screening, a key plan is needed to limit the negative financial impact on patients.