Along with promoting credit investment activities for customers borrowing capital to expand production and business, recently, branches of the Bank for Agriculture and Rural Development (Agribank) in the province have coordinated with the Agricultural Bank Insurance Joint Stock Company - Thanh Hoa Branch (ABIC Thanh Hoa) to deploy the Credit Security product (BATD) to share and reduce the financial burden for customers borrowing capital if risks unfortunately occur.
ABIC Thanh Hoa pays credit security to customers in Ha Long commune (Ha Trung).
If in the past, farmers simply borrowed capital and focused on production, now people have become familiar with insuring their own loans when purchasing insurance for part or all of their investment loans. To attract customers to borrow capital to participate in BATD, ABIC Thanh Hoa has closely coordinated with banks to promote and introduce BATD products to customers through village meetings and loan group meetings; assigning and assigning targets to each officer in charge according to the area to guide, monitor, and appraise cases of insurance benefit payments... BATD products are a type of voluntary insurance, encouraging customers to participate because of the great and practical benefits of protecting the life and health of borrowers. When participating in BATD insurance, in case the borrower dies due to a serious illness or is permanently disabled, ABIC will pay the debt to the bank or credit institution on behalf of the borrower within the scope of the customer's insurance amount. Thereby, people will reduce financial burden, stabilize their lives, and feel secure in continuing production and economic development.
Many customers at Agribank branches in the province have been advised to access credit sources with preferential interest rates to develop production and have been advised to participate in BATD insurance. Thanks to that, insurance participants can rest assured that they will always have the necessary financial resources when they unfortunately encounter risks in life. A typical case is the case of customer Nong Van Giap in En village, Tri Nang commune (Lang Chanh), a customer who borrowed capital from Agribank Lang Chanh and unfortunately encountered risks. It is known that from August 2019 to July 2020, Mr. Giap signed 4 contracts with Agribank Lang Chanh with a total outstanding debt of 450 million VND and was advised by bank staff to participate in insurance for the entire loan with a total insurance premium of more than 10 million VND. In early 2024, Mr. Giap died of a serious illness, all production activities of his family were suspended. Besides the pain of losing a loved one, the thing that his family is most worried about is the bank loan that is due for repayment. However, after knowing that the loan has been paid by ABIC Thanh Hoa with an amount of more than 452 million VND in insurance and full funeral support, Mr. Giap's family is also assured to stabilize production and overcome difficulties.
Similarly, Mr. Hoang The Bay, born in 1977 in Kim Quan Son village, Ha Ngoc commune (Ha Trung), is also one of the customers who borrowed capital from Agribank Ha Trung and received insurance benefits. In November 2023, Mr. Bay's family signed a loan contract with an outstanding debt of VND 300 million from Agribank Ha Trung to develop production and buy insurance for this loan with a total insurance premium of more than VND 2 million. In December 2023, Mr. Bay suddenly died. The family farmed all year round, and Mr. Bay was the main breadwinner in the family, so his relatives were even more worried about the bank loan. Fortunately, ABIC Thanh Hoa promptly paid 100% of the loan to the bank, so the family was assured to develop the economy and stabilize their lives.
Not only the above 2 cases, in the first 5 months of 2024, ABIC Thanh Hoa coordinated with Agribank branches in the province to pay nearly 20 billion VND to nearly 200 customers, most of whom borrowed capital to develop production such as: planting, raising livestock, and service business. The timely attention and quick handling of procedures from ABIC has partly helped customers' families stabilize their lives, reducing the economic burden during difficult times.
In life, no one can foresee risks, but participating in BATD insurance when borrowing money is necessary to help relatives reduce the financial burden if the borrower has unfortunate health and life problems. BATD products have become a solid support for many customers when participating in borrowing money. With this protective "shield", it is clear that the customer's family is sharing the economic burden to help overcome difficult times in life.
Article and photos: Luong Khanh
Source
Comment (0)