BIDV Ha Tinh cooperates to pay nearly 3.8 billion VND in insurance for loan customers

BIDV Insurance Corporation and BIDV Ha Tinh Branch paid nearly 3.8 billion VND in insurance benefits to relatives of a loan customer who died in an accident.

On the morning of October 5, BIDV Ha Tinh Branch coordinated with BIDV Insurance Corporation (BIC) to organize a ceremony to pay insurance for BIC Binh An Borrower insurance products to relatives of customers transacting at BIDV Ha Tinh Branch.

Leaders of the State Bank of Ha Tinh province, BIC and BIDV branches in the North Central region also attended.

Mr. Nguyen Van Phuong (born in 1955), residing in Thach Ha Commune (Ha Tinh City) has been a customer borrowing capital and using products and services at BIDV Ha Tinh Branch for many years. Mr. Phuong also participates in BIC Binh An Borrower Insurance for all of his loans.

On September 8, 2023, Mr. Phuong unfortunately passed away due to electric shock. As soon as receiving the news from the family, BIC North Central and the leaders and staff of BIDV Ha Tinh Branch sent their condolences and encouragement to the customer's family. At the same time, BIC North Central urgently coordinated with the family and BIDV Ha Tinh Branch to collect relevant documents to carry out compensation payment procedures according to regulations.

Accordingly, the total insurance amount paid to Mr. Nguyen Van Phuong's family is 3,789,921,369 VND. Including: principal and interest balance at the time of signing the insurance contract; support for loan interest during the time waiting for compensation procedures and funeral allowance for customers.

BIDV Ha Tinh cooperates to pay nearly 3.8 billion VND in insurance for loan customers

Leaders of the State Bank of Ha Tinh province, BIC and BIDV Ha Tinh branch paid insurance benefits to relatives of customer Nguyen Van Phuong.

By promptly paying insurance benefits, accompanying and sharing financial difficulties with customers' relatives, the BIC Binh An Borrower insurance product continues to affirm its practical value and profound humanity. For the bank, the BIC Binh An Borrower product has truly become an effective risk management tool in the bank's credit activities.

Borrower Insurance is a voluntary insurance product. Borrowers are encouraged to participate in insurance because of the benefits that the product brings at low cost. In case the borrower unfortunately encounters a risk that affects his health and ability to repay the loan, the insurance company will pay the bank on behalf of the borrower an amount corresponding to the benefits of the borrower participating in the insurance.
Currently, the product is widely used by borrowers and increasingly affirms the value of benefits and humanity of the product through practical support for borrowers' families in the most difficult and loss-making times to quickly stabilize their lives.
Mr. Nguyen Dinh Thinh
Director of BIDV Ha Tinh Branch

Thu Phuong

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