GROUP 1

WHOLE LIFE
INSURANCE (WLI)
GROUP MEMBER

Hoàng Nguyên Thành Vinh Xuân Cường Hoàng Nam

Qúy Bảo Diệu Châu Thúy Vy

 MY BUSINESS SKILLS
Challenges & Strengths of
01 Background 04
WLI

The Power of Future Opportunities of

02 05
Financial Stability WLI

Mechanism and Structure of

03 WLI 06 Conclusion
INTRODUCTION

Vietnam has witnessed significant

changes in its insurance industry, with a
special focus on life insurance products.

"Whole Life Insurance" has become a

crucial financial tool.
INTRODUTION (CON’T)

Whole Life Insurance in Vietnam is not

just a financial product.
 PRESENTATION OBJECTIVES

Sh arin g real-life
H o w th is in su ran ce Delvin g into
ex am ples to illu strate th e
ty p e o p erates the b en efits it offers to
streng th an d sig n ifican ce
po licy ho lders and th eir
of Who le L ife In su ran ce.
fam ilies
 THE POWER OF
FINANCIAL STABILITY
WHOLE LIFE INSURANCE
 MEANING
& DEFINITON

Whole life insurance is an insurance policy that

provides coverage in the event the insured person
passes away at any point during their lifetime
 OPERATIONAL MECHANISM

STE P 1 MAP OR PROCESS

STEP 2 STEP 3

Policyholder
Cash Val ue
Payment and Prem ium Account
Transaction Allocation

STE P 4 STEP 5 STEP 6

Cash Value
Deat h
Access Policy
Benefi t
Options Surrender
Payout
Mechanism and
Structure of Whole Life
Insurance
DETAILS OF THE INSURANCE
CONTRACT
Provides a comprehensive and
det ailed overview of the terms
and conditions.

This section is essential for policyholders as it

outlines the rights, responsibilities, and
expectations.
 DETAIL OF
INSURANCE CONTRACT (CON’T)

01
Polic y Num be r

02
Effe c tiv e Da te

03
Polic yh olde r In fo rmation

04
Ben efic ia ry Information
 DETAIL OF
INSURANCE CONTRACT (CON’T)

05
Pre m ium Pa yme nt Details

06
Cove rag e De ta ils

07
Cash Va lu e Acc ou nt

08
Polic y Te rm
 DETAIL OF
INSURANCE CONTRACT (CON’T)
12

11
Claims Process

10
Dividend and
Interest Crediting
09
Policy Lapse

Policy Surrender and

Loans
 17

16

15 Grace Period

14
13 Renewal Options
Termination
Conditions
Exclusions and Grace Period
Policy Ownership
Limitations
& Assignment
EXCLUSIONS AND LIMITATIONS IN A WHOLE
LIFE INSURANCE CONTRACT

• Suicide • High-Risk Occupation

• High-Risk Activities • Illegal Activities

• War and Terrorism
 CHALLENGES
& STRENGTHS
OF WHOLE LIFE INSURANCE
STRENGTHS OF
WHOLE LIFE INSURANCE
• Li felon g Co v e ra g e

• Cash Va l u e Ac c u mulati on

• Guaran t e e d Pre mi u ms

• Tax Be n e fi t s

• Credi t o r Pro t e c t i o n
Challenges WLI
• Cost

• Limited Flexibility

• Lower Investment Returns

• Complex Product

• Opportunity Cost
Opportunities of
Whole Life
Insurance
OPPORTUNITIES
Blockchain
Electric Vehicles
and the Metaverse

Artificial
Online Services
Intelligence
SOME SPECIFIC
EXAMPLES OF
INNOVATIVE INSURANCE
PRODUCTS
 CONCLUSION
W H O L E L I F E I N S U R A N C E - A S T E P T O WA R D S A

SECURE FUTURE
IMPORTANCE OF EDUCATION AND
CONSULTATION
Whole Life Insurance (WLI) is a complex
financial product that can offer many
benefits, but it is important to understand its
features and limitations before making a
purchase decision. Educating individuals
about WLI can help them to.

Next Slide
 Understand the different
types of WLI policies
IMPORTANCE OF available

EDUCATION AND Assess their own insurance

needs

CONSULTATION
Choose the right policy
(CON’T) for their individual circumstances
 Avoid costly mistakes
IMPORTANCE OF
EDUCATION AND
CONSULTATION Professional consultation can also
be valuable for individuals

(CON’T) considering WLI.

PROFESSIONAL CONSULTATION CAN ALSO BE
VALUABLE FOR INDIVIDUALS CONSIDERING
WLI
• Understand the financial implications

of purchasing a WLI policy.

• Develop a financial plan that incorporates WLI.
• Review their WLI policy regularly to

ensure that it meets their changing needs.

CLIK HERE
ADDRESSING
CHALLENGES
• An aging population

• Increasing competition from new entrants

• Changing customer expectations

EMBRACING
OPPORTUNITIES
• Remain competitive and meet the needs of
its customers.

• One way to do this is to innovate and

develop new products and services that
meet the needs of a diverse customer base.
Another challenge facing the insurance industry is

the need to improve its customer experience.

Customers are increasingly demanding

personalized and convenient insurance solutions.

The insurance industry can improve its customer

experience by investing in new technologies and

by streamlining its processes.

 WHOLE LIFE
INSURANCE
AS A DYNAMIC
FINANCIAL TOOL
 WLI CAN BE USED
TO

04 01 1
Provide financial security for loved ones in the
event of death

Save for retirement, supplement retirement

2 income

03 02
3 Fund education expenses

4 Pay for estate planning costs

 HEALTHCARE EXPENSES

Long-Term Care Tax-Efficient

Medical Costs
Withdrawals
 01 College Funding

02 Loan Collateral

EDUCATION 03 Tax Benefits

EXPENSES
 04 Costs

05 Opportunity Cost

EDUCATION
EXPENSES 06 Limited Flexibility
(CON’T)
 Q&A
QUESTION
WHOLE
LIFE INSURANCE

THANKS FOR
YOUR ATTENTION
End Of Slide