Health Insurance Standards

Comprehensively insured by Liberty and is best treated by a medical facility you prefer.

Liberty has designed health insurance products specifically for the Vietnam market, gives you absolute peace of mind with many unique features and optional benefits. Discount policy for groups and families with the choice of different insurance benefits to ensure fit your needs.

With Liberty, you can rest assured that their health is being cared for by one of the leading insurance companies in the world with over 100 years of experience in bringing to life a safe and more secure for all people.

Why choose Liberty MediCare?

Payment of medical expenses for illness and accidents
Without limiting the cost of hospitalization and number of days of treatment
Pay the entire cost of organ transplants, home care, day treatment, rescue and emergency medical transport in water
Not applicable waiting period for particular diseases
Unlimited number of physician visits and cost per visit
Can select the outpatient treatment benefits, maternity and dental financing needs of customers
Suitable for small and medium businesses
Customers may claim directly from Liberty to help relieve pressure for the Human Resources Administration
Compensation procedures transparent, fast and fair

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The role and effects of insurance

1. Aspect of economic - social

The risk of losses arising from damage to the object: material wealth created by humans, and humans themselves, disrupting the daily life of the population, production stalled economy . Generally it to interrupt and reduce the effectiveness of the process of social reproduction.

Insurance Reserve Fund is to create a conscious, remedial above, offset by the losses incurred to re-establish and ensure the continuity of the regular social process. Thus, on the whole range of social economy, the role of insurance as a safe tool and redundancy to ensure long-term operability of any subject population and economy. As such, the insurance penetration depth all aspects of life has taken its inherent impact: promoting awareness to prevent and limit losses for all members of society.

2 Financial Aspects

Insurance product is a special service: a commitment to ensure the safety (the safety) moreover it is a commodity in the commercial insurance market. Insurance Organization activities as a unit providing a product and service to society, to participate in the distribution process as a unit at the stage of the national financial system.

On the other hand the existence and development of the insurance activities not only meet the safety requirements (for individuals and businesses) but also considerable demand keeps growing capital of the reproduction process large mines, especially in the RHI economy. With the principle of charging advance, the insurance organization activities occupy a very large monetary funds to show their commitment to their clients but temporarily idle.

And so, the insurance organization operations have become major investors, is important for the other activities of the national economy.
Insurance is therefore not only play the role of a safety tool, but also the role of a financial intermediary, holds important part of the industrial enterprises and large commercial.

With the above role, effective insurance is very important for the economy, especially in economies operating under the transition to the market economy. The main effects are: focus, ensuring capital accumulation process reproduce regularly and continuously. This effect is even more important to our country today when it can contribute positively to the increase of the capital from internal economies, mobilize and utilize the most thoroughly funds Currency in scattered populations.

Because of the aforementioned positive effects of insurance, but in any country whether developed or developing world, governments are always looking for different ways to promote and encourage the development of insurance activity, increase the number of compulsory insurance, reducing income tax exemption for the insurance business, personal income tax levied on the sum insured is entitled to receive insured, creating favorable conditions for insurers to invest ...

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WHY TO PAY MORE PREMIUM FOR LIFE INSURANCE

IN Insurance industries there are many kind of plan basically 1} Term plan 2} traditional plan {endowment} 3} U. L. I. P.{unit link insurance policy}

Endowment plan you get a sum assured + bonus at the time of maturity

U. L. I. P. You Pay for a term plan and rest amount add to your fund after deducting company charges + levies + fund management charges {f.m.c}and other charges. your insurance charges are deducted on monthly basics from your fund.

term plan you only get paid when the insured person die. if the person survive within term of policy or at end of term he cant get any refund of premium paid. no profit / bonus all paid premium are not refunded.

now to the point either endowment or u.l.i.p you pay for a specific amount of sum assured to company after deducting charges will allocate the balance amount to you fund or accumulation account {for endowment plan}.

In endowment plan companies are not bound to be specific of their investment.
Investment is always mystery. In u.l.i.p plan you can get even daily updates.
If you opt for u.l.i.p insurance company charge their allocation charges, administration fee, handling fee, etc a part you have to pay like a mutual fun f.m.c charges etc. Then why not directly buy a mutual fund and save additional charges.

In finance market there are lots of investment option which can pay you high returns than endowment or a u.l.i.p insurance plan. {ex; gold, government bonds, property, recurring deposits, fixed deposit, even direct choice of mutual fund. etc}

Advantage of term plan is you get high risk cover at very low premium. {ex; Rs. 20 lack sum assured} for age of 30 years yearly premium Rs. 5000/- to Rs. 7000/- premium vary company to company.
At same time you can compare what you pay for a same amount of endowment / u.l.i.p plans.

If you save balance amount in other options definitely you will get high returns than you get in endowment / u.l.i.p plans.

now a days few companies are offering good term plan with all refund of paid premium its a kind of combination or a type of endowment where you get your premium paid back and cover for whole life or specific period depends upon plan terms and condition. any how this premium are high than pure term plan.

you can even opt for riders like accident benefit, critical illness etc with term plan also.

so next time buy a term plan invest rest of balance premium to other options of investment where you can get good returns.

after all insurance is security and surety for our near and dear ones

this article will help you save premium paid for life insurance and get good returns from other options.

ARTICLE WRITTEN BY KETAN J MEHTA

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