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| Universal life insurance policy coverage |
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06-DEC-2007 Intellasia | VNA page 17 |
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6 Dec, 2007 - 7:00:00 AM |
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The Ministry of Finance issued Decision No 96/2007/ QD-BTC on November 23 regulating universal life insurance policies. The decision sets requirements on a life insurance enterprise offering this sort of policy, including margin of payment ability at least 100 billion dong (US$62.5million) more than minimum requirements; proper information technology and date management systems to manage and control the universal fund; and insurance agencies selling universal life products that have been duly authorised and trained.
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