Chubb Life is a name that is still quite unfamiliar to many Vietnamese people. However, there are some people who are thinking that Chubb Life is a scam company. So what is this brand, real Chubb Life insurance scam As people say or not?
The answer will be in the following article.
See more:
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- Should you buy Prudential insurance?
- Is Cathay Life really deceiving customers?
Affirming “Life Insurance Is Not A Scam”
First of all, Banktop can assert that Life Insurance Is Not A Scam, because life insurance companies are regulated by the Ministry of Finance and must have the appropriate charter capital to be licensed to operate. These units always have reserve funds ready to reimburse customers at any time.
Life insurance corporations are always strictly managed by Vietnamese law to ensure the interests of the people. And all insurance packages built and launched on the market must be approved and approved by the Ministry of Finance.
What is Chubb Life Insurance? Of Which Country?
Chubb Life is a subsidiary of Chubb Group from the US. This is a group that provides both life and non-life insurance with more than 130 years of experience. Currently, this insurance company is operating in many countries around the world.
This brand is one of 18 life insurance companies operating in Vietnam. Chubb has been operating in Vietnam for about 14 years.
Among them, the characteristics of this brand in Vietnam market as follows:
- Its products have many benefits, helping users protect their safety and finances.
- Products can provide services to individuals and large organizations.
- Some insurance policies have been issued up to billions of dong.
- Currently, across the country, there are about 30,000 affiliated places providing Chubb's insurance products.
- To use, you can buy through individuals, organizations or banks nationwide.
- According to statistics, the insurance of this brand is currently one of the leading life companies in Vietnam.
The Truth Chubb Life Insurance Scam?
Until now, people in big cities like Hanoi, Ho Chi Minh, etc. may have heard of this insurance company. However, in other provinces, Chubb Life It's a rather strange name.
Therefore, many people think that Chubb Life insurance scam and should not use this insurance carrier.
In fact, the products of Chubb Life has been designed to suit Vietnamese people best. However, at present, some disputes have arisen between the insurer and the insured. Most of the reasons are due to:
- Insurance agents have bad intentions: In the process of working, some insurance agents in Vietnam have sought to appropriate the payment of premiums from customers. In addition, they also have a situation of creating fake contracts to collect money from customers.
- Profiting from customers: Many people intentionally create insurance events to get paid. In some cases, customers took a risk before going to buy Chubb products. Or the buyer intentionally made false declarations when signing the request. Therefore, they are not paid which leads to disputes.
- Customers do not learn carefully: Some people do not research carefully before buying insurance, so misunderstandings occur. In addition, there are some customers who do not pay fees, are late to pay fees but still want their rights to be protected.
Chubb Life insurance scam or not?
To answer this question, we will analyze some of the following issues to draw the true conclusion, is Chubb Life life insurance a scam?
Chubb Life is the leading global life insurance company in the world
Chubb Life is a famous and preferred life insurance company in many countries around the world with a system present in 54 countries. Maybe in Vietnam, the name Chubb Life is not too popular, but in the world, Chubb Life is always the top priority when customers need to buy life insurance.
Top 5 most reputable life insurance companies
At the end of May 2016, Chubb Life together with Bao Viet Life, Prudential Vietnam, Dai-ichi Life Company, AIA Vietnam were the 5 most prestigious life insurance companies in Vietnam according to the ranking of Newspaper Joint Stock Company. Vietnam Report (Vietnam Report).
Chubb Life holds the record for the largest insurance benefit payment
Thinking that “insurance purchased is difficult to collect” that makes you mistakenly think that insurance is a scam will have to be re-evaluated. Do you know:
- VND 460 billion: The amount that Chubb Life Vietnam has paid insurance benefits for more than 4,000 cases as of September 2016.
- 9 billion: This is the insurance amount that Chubb Life has just paid insurance benefits in mid-September 2016 for the family of a customer in Hanoi. This customer joined the Lifetime Financial Plan Lifetime - Universal Benefit 2013 life insurance product with Chubb Life but unfortunately passed away due to a stroke.
From the time of participation until the insured event occurs, the total insurance premium that customers have paid for this insurance policy is nearly 576 million VND.
Is AIA Insurance Scam Real?
Providing the best life insurance packages
These are insurance products for individuals and families:
- Accidental death insurance
- Car insurance
- Coverage for laptops, mobile phones and other small electronic devices
- Copyright / Identity Theft Insurance
- Personal income insurance
- Life insurance, accumulation and investment
- Prescription cost insurance
- Marine yacht insurance
- Accident and illness insurance – helps pay expenses if income is lost as a result of an accident or illness
- Additional health insurance
- Medical expenses insurance
- Travel insurance and travel accident
See also: Top 10 The most prestigious life insurance company in Vietnam
Should you buy Chubb Life life insurance?
There are many people who feel that life insurance in Vietnam is a scam. In fact, the insurance company always does the right thing and follows the terms of the contract.
Life companies in general and Chubb Life In particular, there are products that bring many benefits. Thanks to that, the customer has a compensation amount if the insured event occurs.
Therefore, people should think about having a protection tool for themselves in the future. However, when buying insurance, buyers need to take the following notes to avoid disputes:
- Buy from reputable dealers or organizations with enough knowledge to advise on products.
- Make sure you understand the product you're buying, especially the benefits and exclusions of the contract.
- Do not knowingly or inadvertently misrepresent an insurance claim.
- No thoughts of insurance profiteering.
- Always get the bill after paying the premium.
- Pay fees in full and on time.
- You should buy insurance with a fee that is suitable for your financial ability.
- Each person will have a different need, so do not force yourself to buy insurance with the same benefits as others.
See more: Unsecured loans under life insurance contracts
Chubb life and record numbers of insurance benefits payments
When looking at the numbers below we think you will find the answer whether this company is a scam or not.
As of September 2016, Chubb insurance company has paid more than VND 460 billion in insurance payments and protected the interests of 4,000 customers at risk when participating in the company's insurance product packages.
Also in September 2016 paid 9 billion VND to customers in Hanoi about the risk of participating in the product package at Chubb life. This customer joined Chubb life's life insurance product package, but unfortunately passed away due to a stroke, so the insurance company paid 9 billion VND even though the amount the customer had paid. Insurance cost is only nearly 576 million dong.
Conclusion
Here is some information to help you clear the problem Chubb Life is a scam right or not. Outside Chubb Life in particular, for any other organization, people should understand the problem well before drawing conclusions.
This will help you have an objective view and understand the problem.
Information edited by: banktop.vn
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