“Insurance Application Form”
Means document showing the desire to enter into the Insurance Policy from the Policy Owner and the Insured. It is made by the Policy Owner in the form regulated by Insurance company, declared fully and truthfully.
Insurance Application Form accompanied with and is an integral part of the Insurance Policy.
Means the declarations of health status filled in and provided to Insurance company by the Insured together with the Insurance Application Form.
Is an individual having full capacity of civil acting or an entity duly established in Vietnam who subscribes for insurance and pays premiums to Insurance company. Policy Owner can be the Insured or the Insured's father, mother, wife, husband, children, siblings, person with ties of fostering and financial support of the Insured or other person who has insurable benefits towards the Insured.
Is an individual who meets all the conditions set forth in Insurance Policy.
Is the Insured in case the Insured suffers Total and Permanent Disability. Beneficiary shall be designated by the Policy Owner to receive benefits of the Insurance Policy in case the Insured dies in accordance with Insurance Policy.
“Age” of the Insured
Is the age calculated basing on his birthday right before the Effective Date or the Policy Anniversary Date.
Is the date when the Policy Owner completes the insurance application dossier and fully contributes the provisional premiums when the application dossier is accepted by Insurance company. The Effective Date is recorded in the Insurance Certificate.
Means the date which the Insurance Policy terminates under the provisions of Insurance Policy.
“Policy Anniversary Date”
Is the annually same day of the Effective Date or the latest day of the same month in case there is no the same day in the year.
Means the termination date of the Insurance Policy under the choice of the Policy Owner in the Insurance Application Form. The Maturity Date is recorded in the Insurance Certificate.
“Premium Due Date”
Means the date when the Policy Owner has to pay periodic premiums as agreed with Insurance company.
Means the period from the Effective Date to the Termination Date of the Policy.
Is the period of one calendar year from the Effective Date or each the following calendar year from the Policy Anniversary Date.
“Premium Payment Period"
Is the period of time during which the Policy Owner must contribute all premiums with respect to the Insurance Policy. This period is up to the Policy Owner's choice from options stipulated by Insurance company and stated on the Insurance Certificate.
Means any event where the Insured dies or suffers Total and Permanent Disability.
“Total and Permanent Disability”
Means any event where the Insured suffers injury leading to one of the states as described below:
(a) The Insured is completely lost, paralyzed and unable to recover the function of:
(i) Two arms, or;
(ii) Two legs, or;
(iii) One arm and one leg, or;
(iv) Two eyes, or;
(v) One arm and one eye, or;
(vi) One leg and one eye.
In the above cases, completely lost and unable to recover the function of: (i) arm, means from wrist up; (ii) leg, means from ankle up; (iii) eye, means lost eye or blindness.
The certification of the completely loss of body parts (leg, arm, eye) can be made immediately after Insured Event is happened.
The certification of the completely paralysis condition and unable to recover the function of body parts must be made no earlier than 6 months from date of the Insured Event or the date of discovering the illness.
(b) The Insured suffers from at least 81% loss of health and more as prescribed by a medical agency/ Medical Assessment Council at provincial level or higher.
The rate of the disability of the Insured shall has the same meaning with the rate of the loss of working capacity, the loss of health, the injury rate, the illness rate, the morbidity rate.
Is an event or an uninterrupted chain of events concerning unexpected impact of an outside object or force, beyond the Insured’s will, on the body of the Insured which is the direct cause leading to his/her death or Total and Permanent Disability, excluding any processes occurring due to illnesses, aging and degeneracy.
Accident covers the cases where the Insured engages in any action to save human lives, the properties of the State and the people or to fight any illegal action.
“Date of the Insured Event”
Means the earlier date of the following:
(a) The date when the Insured dies; or
(b) The date when the Insured’s Total and Permanent Disability is certified in writing by the competent medical agency. If certification of the competent medical agency does not record the date when the Insured suffered Total and Permanent Disability, the signing date of the certification shall be applied.
Means the amount of money, chosen by the Policy Owner upon application, among the fixed amounts regulated by Insurance company and recorded in the Insurance Certificate.
Means the sum, paid by the Policy Owner for Insurance company, in order to be covered. The Insurance Policy shall be valid and the Insured shall be covered under terms of this Insurance Policy if the Policy Owner have paid the Premiums in fully and on the due date under the regulations on the Insurance Policy.