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Prudential life insurance clients may divert premiums into funds
Holders of Prudential Viet Nam life insurance policies will be able to participate in the insurance giant’s five investment funds, general director Binayak Dutta said yesterday.
Prudential’s Viet Nam affiliate has won approval from the Ministry of Finance to combine its life insurance products with participation in investment funds.
Under the terms of a life insurance contract, customers may choose to allocate some of their premiums for investing in one of the funds, which vary in returns and risk levels.
The PRUlink Viet Nam Bonds Fund will focuse on investments in the bond market. The PRUlink Stable Fund (Ben vung) will invest 70 per cent in bonds and 30 per cent in equities, while the PRUlink Balanced Fund (Can bang) will choose a higher-risk, higher return mix of 50-per-cent equities, 50-per-cent bonds.
Investment in shares will account for 70 per cent of the PRUlink Growth Fund, while the PRUlink Equities Fund will invest almost entirely in equities.
Prudential, after eight years in Viet Nam, has a market share of over 41 per cent of premiums and will become the first life insurance company allowed to offer fund investment paricipation to life insurance customers in Viet Nam.
VNS
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