According to the Ministry of Planning and Investment, since the Covid-19 pandemic, the global economy has been facing many difficulties and challenges. Not out of that vortex, the Vietnamese economy has also been heavily affected by the world economic context.

In times of difficulty, people will have to “tighten their purse strings” when it comes to spending and shopping and pay more attention to the consequences when risks occur. Therefore, with the need to find solutions to protect themselves and their families, many customers still want to be protected with simple, easy-to-understand products at reasonable costs.

Preparing to welcome his first daughter, Mr. Hoang Tran (30 years old) - a programmer at a software company, started searching and decided to "close" Shinhan - Tuong Lai with an insurance amount of 300 million as a protection solution for both parents and children against unfortunate risks in life and also a financial reserve fund for the family in the future.

Shinhan – Future is a protection solution for families

With a fee of 994,000 VND/month equivalent to more than 30,000 VND/day, Hoang Tran and his family will receive nearly 180,000,000 VND for Maturity Benefits.

Along with the benefits of Hospitalization Support of 300,000 VND/day of hospitalization, up to 13,500,000 VND/contract year; Hospitalization Support in the Intensive Care Department of 600,000 VND/day of hospitalization, up to 27,000,000 VND/contract year; Surgery Support of 3,000,000 VND/surgery, up to 6,000,000 VND/contract year;

Death or Total Permanent Disability (TTTBVV) insurance benefit is equivalent to 330,000,000 VND; Critical Illness insurance benefit is advanced 300,000,000 VND from Death or Total Permanent Disability (TTTBVV) insurance benefit; And this product fee is exempted in the following cases: Critical Illness insurance benefit is accepted for payment; or the insurance buyer dies or suffers from Total Permanent Disability (TTTBVV).

According to Hoang Tran, the decision to buy insurance in the context of this industry having a lot of conflicting information made him have to spend more time to learn about the products as well as analyze his financial needs at the current stage.

“The first and basic insurance contract has just been “closed” to suit my needs and ability to pay during this time. The next financial protection plans: upgrading the value of the purchased insurance contract or buying new insurance will be considered,” Hoang Tran shared.

The growth of the life insurance market is currently slowing down because customers are becoming more cautious. However, the difficulties from the economy or from recent media crises, looking at the more positive side, unintentionally or intentionally, have also made people interested in learning more about the insurance industry.

When people consider their decisions to spend money on insurance more carefully and more closely match their needs and financial capabilities, there will be no more questions or doubts later on...

People carefully consider the benefits they receive before deciding to spend money on insurance.

Representative of Shinhan Life Vietnam, General Director Bae Seung Jun - also acknowledged that at present, Vietnam, as well as many other economies, is in a difficult period, especially for the insurance industry. The story that the Vietnamese insurance market is facing, other markets such as the insurance market in Korea have also experienced.

“The market is shifting towards focusing on customer benefits, so in the future, businesses also need to develop product portfolios that are more suitable to the real needs of customers.

In addition to investment-linked insurance products, I think that protection products such as health insurance will also receive more attention from customers," shared the General Director of Shinhan Life.

Entering the Vietnamese market after other insurance companies, Shinhan Life also has many opportunities to learn and observe the development of the market as well as other businesses to build and edit products and customer services to best suit the needs of customers and new developments of the market.

Shinhan – Tam An is the optimal preventive solution against cancer

In addition to Shinhan - Tuong Lai, a protection solution for the whole family, the insurance company's product portfolio also includes Shinhan - Tam An, an optimal backup solution against financial burdens caused by cancer; or Shinhan - Song Khoe, a flexible individual term insurance product, providing customers with protection benefits in case of death, and term insurance products provided through banking cooperation channels (Bancassurance) and direct sales channels.

It is known that Shinhan Life's Bancassurance channel and direct sales channel will focus on customers with good income, interested in asset management and investment products...

“For young customers or those who only need protection, we will distribute insurance products with reasonable insurance amounts and premiums through telemarketing channels as well as through product distribution partners with Shinhan Life…”, Mr. Bae Seung Jun shared.

This is one of the strategies aiming to become the leading insurance company in the field of protective insurance products in Vietnam, when people's insurance needs will increase sharply in the coming time, especially health insurance products.