POLICY PROVISION

REGULAR PREMIUM VARIABLE LIFE (VERSION 2)

(Approved by the Ministry of Finance under Offical Letter No. 12200/BTC-QLBH on
September 13th 2017

NOTES
The Regular Premium Variable Life (Version 2) of Manulife Vietnam Limited (“The
Company”) is approved by the Ministry of Finance under Official Letter Number
12200/BTC-QLBH on September 13th 2017. When participating this unit-linked product,
customer please read carefully and put in mind the following notes:

1. Reads carefully the provision before participating the unit-linked product and
understanding some following rules:

1.1. In case that customer changes his/her decision of participating the insurance
product, the Policy Owner has a free look period of 21 (twenty-one) days, since
the date receiving the policy, to terminate the policy and receive premium-paid
back as defined in Article 4 of the provision. After the free look period, the
Policy Owner will receive the Surrender value after deducting surrender charges
and indebtednes (if anys) when terminating the policy.

1.2. The Policy Owner has the obligation to pay premium as defined in Article 18.1

1.3. The Company shall not pay the insurance benefits under some exclusions
defined in Article 17 of this provision.

1.4. Charges and fees that are defined in Article 26 of this provision.

2. Participating the optional riders is not requirable. The Policy Owner has the rights to
terminate the optional riders at any time. To maintain the insurance benefits, the
Policy Owner has to (i) pay premium or (ii) since the 4th policy year, the Policy
Owner has the rights to require the Company to withdraw from the Account Value to
pay for Rider(s) Premium. The Policy Owner must put in mind the specific exclusions
for each riders.

3. When participating an insurance policy, customer needs to keep all the related
insurance document.

4. The Policy Owner has to declare truly the personal information and annonce the
Company any changes as defined in Article 6, 7 and 11 of this provision. The frauds
in health history declaration can cause the unclaimable insurance benefits.

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 POLICY PROVISION
REGULAR PREMIUM VARIABLE LIFE (VERSION 2)

CHAPTER 1: GENERAL DEFINITIONS

ARTICLE 1: DEFINITIONS

1.1 Company: refers to Manulife (Vietnam) Limited, a life insurance company its
licence of establishment and operation issused by the Ministry of Finance under
the laws of Vietnam.

1.2 Plan: The plan is referred to the Basic Insurance Plan or Advanced Insurance
Plan under this policy and is shown in the Schedule Page or Endorsements, if any.

1.3 Policy Owner: is organization legally incorporated and existing in Vietnam, or

individual aging from at least eighteen (18) years old who is living in Vietnam
and has full civil act capacity at the time of application; is declarer, signer on the
application form, carry out rights and responsibilities as provided in the Policy
and is recognized in the Policy Page or Endorsement (if any) as the Policy Owner.

1.4 Life Insured: is an individual whose life and/or health are the subject to be
insured by the Company; and is shown in the Schedule Page as the Life Insured of
Basic Plan or Rider.
Unless specifically defined in the Rider(s), the Life Insured, at the insurance
request time, must:
i) Be alive and have an insurable interest relationship with the Policy Owner;
ii) Be present in Vietnam;
iii) Be in the age range from one (1) month old to sixty-five (65) years old.

1.5 Beneficiary(ies): is individual(s) and/or organization(s) appointed by the Policy

Owner for purpose of receiving benefits. The Beneficiaries are recorded in the
Application Form or Endorsements (if any).

1.6 Policy Term: Policy Term of this product is from Policy Effective Date to Policy
Anniversary Date at that time the Life Insured reaches 85 years old. Policy Term
is mentioned in Policy Schedule Page or Endorsements (if any).

1.7 Face Amount: means the amount covered by the Company under this Policy and
is shown in the Policy Schedule Page or Endorsements (if any).

1.8 Attained Age: is age of the Life Insured counted at his/her last birthday before (i)
the Policy Effective Date, or (ii) the Policy Effective Date of the following Policy
Years.

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1.9 Policy Schedule Page (Insurance Certificate): is an integral part of this Policy
setting out specific details of the Policy.

1.10 Endorsement: is document(s) issued by the Company for confirmation of

changes to this Policy.

1.11 Rider: mean the insurance product(s) can be attachable to the base product
granted by the Company. They are stated in the Policy Schedule Pages or
Endorsement(s), if any.

1.12 Accident: means an event or a series of uninterrupted events caused by sudden,

unintentional and involuntary violent and external object on the Life Insured. It
mimust directly result in visible bodily injury or the death of the Life Insured. An
event or a series of events must be the direct and unique independent from any
other causes to the Life Insured’s injury or death within ninety (90) days since the
happening date.

1.13 Day / Month / Year

1.13.1 Policy Issue Date: is the date when this Policy is accepted and issued
based on application form of Policy Owners. The Policy Issue Date is
shown in the Policy Schedule Page or Endorsement (if any).

1.13.2 Policy Effective Date: is the date when this Policy becomes effective, as
shown in the Policy Schedule Page or Endorsement (if any). The Policy
Effective Date will be used to determine Policy Anniversary Dates, Policy
Monthiversary Dates, Policy Years, and Policy Maturity Date.

1.13.3 Policy Anniversary Date: means the day of each calendar year having the
same day and month as the Policy Effective Date (if there is no same date,
the immediately preceding date will be used).

1.13.4 Policy Monthiversary Date: means the same monthiversary date of the
Policy Effective Date. If there is no same date, the immediately preceding
date will be used.

1.13.5 Policy Year: is a one-year period starting from the Policy Effective Date
or any Policy Anniversary Date.

1.13.6 Premium Year: is a year during which all annual Basic Premiums are
fully paid.

1.13.7 Policy Maturity Date: is the last day of the Policy Term and is shown on
the Policy Schedule Page if the Policy is still effective at that time.

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 1.13.8 Paid–To-Date: is the date on which the Basic Premium must be
sufficiently paid according to the terms and conditions under this Policy.

1.13.9 Valuation Date: is the date the Company determines the Unit Price.

1.13.10Next Valuation Date: is the Valuation Date occurring right after a

transaction or right after the date Company receives valid transaction
requests regarding buying or selling of fund units.

1.13.11Claim request Date: is the date Company receives full and valid claim
documents, following the terms of the Policy.

1.14 Group of definitions relating to insurance premium, fees and debts

1.14.1 Basic Premium: means the premium that policy owner pays for base plan.
After deducting Premium Load and related fees (if any), the remaining
amount will be allocated to Basic Account. Basic premium will be stated
in Policy Schedule Page or Endorsement (if any).

1.14.2 Rider Premium: means the premium that policy owner pays for riders.
Rider Premium will be stated in Policy Schedule Page or Endorsement (if
any).

1.14.3 Regular Premium: is total of: (i) Basic Premium and (ii) Rider Premium
(if any) and shown in the Policy Schedule Page or Endorsement (if any).

1.14.4 Top-up Premium: means any extra premium(s) paid by Policy Owner on
top of the regular Basic Premium subjected to the Company rule as
defined in the Policy. After deducting Premium Load (if any), the Top-up
Premium will be allocated to Top-up Account.

1.14.5 Premium Load: means an amount deducted from the Basic Premium
and/or Top-up Premium prior to allocating to the Fund. Premium Load is
stated in Article 26.1.

1.14.6 Cost of Insurance: means the amount deducted every Policy

Monthiversary to cover insurance benefits as provided in this product.
Cost of Insurance is stated in Article 26.3.

1.14.7 Policy Fee: means the amount deducted every Policy Monthiversary by
the Company in order to cover the costs of policy administration and
maintenance as well as providing policy-related information to the Policy
Owner. Policy Fee is stated in Article 26.2.

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 1.14.8 Monthly Deduction: means the amount deducted by the Company from
Policy Account Value on each Policy Monthivesary Date which is
composed of Cost of Insurance and Policy Fee.

1.14.9 Surrender Charge: means the charges in any case the Policy is
surrendered before maturity. Surrender Charge is stated in Article 26.4.

1.14.10Partial Withdrawal Charge: means the charged amount when the Policy
Owner requests to make partial withdrawal(s) from the Basic Account
Value. Partial Withdrawal Charge is stated in Article 26.5.

1.14.11Indebtedness: means any fee, premium due or amount of money which

the Policy Owner has to pay in order to remain effectiveness of the Policy
or pay in accordance with terms and conditions of the Policy. These shall
constitute outstanding amounts due to the Company. Any Indebtedness
shall be deducted before payment of any benefit becoming payable under
this Policy at any time.

1.15 Group of definitions relating to account and account value

1.15.1 Variable Life Fund (“Fund”): refers to fund(s) created by using

premiums received from variable life policies. The Variable Life Fund
shall be launched from time to time, managed and invested following the
investment portfolio selected by Company in accordance with the
prevailing regulations of Vietnam.

1.15.2 Basic Account: is account containing Units formed by Basic Premium.

1.15.3 Top-up Account: is account containing Units formed by Top-up

Premium.

1.15.4 Basic Account Value: is value of all Units in Basic Account determined
by Unit Price on the Next Valuation Date.

1.15.5 Top-up Account Value: is value of all Units in Top-up Account

determined by Unit Price on the Next Valuation Date.

1.15.6 Policy Account Value: is sum of Basic Account Value and Top-up
Account Value.

1.15.7 Surrender Value: means the amount which the Policy Owner receives in
case of surrender. Surrender Value is Policy Account Value valued at the
Next Valuation Date after the Policy is surrendered minus the applicable
Surrender Charge and Indebtness (if any)

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 1.15.8 Premium Direction: is ratio of paid Basic Premium, paid Top-up
Premium, and bonuses (if any) allocated to Funds after deducting
Premium Load and related fees (if any). The Premium Direction is
processed by requests from Policy Owner.

1.15.9 Unit: is property of the Variable Fund divided into the equal parts.

1.15.10Unit Price: is price of one Unit. The unit price can be different under
different fund. For any buying and selling transaction, Unit Price is same
as sell price and buy price.

1.16 Operation process: defines rules, terms and the process implementation of one or
many insurance operating process. The Operation Process is attached to this
provision for references. The Operation Process will be amended and updated
over time based on the Company process and will be published on the Company’s
official website. The new Operation Process will be effective once publishing.

ARTICLE 2: POLICY CONTRACT

2.1 Policy is a written agreement between the Policy Owner and the Company which
regulates rights and responsibilities of the parties in the process of implementing the
policy (“the Policy”). The Policy includes the following documents:
i. Application dossier;
ii. Application form;
iii. Policy Schedule Page;
iv. Provisions of Base Plan, Rider (if any) approved by the Ministry of Finance;
v. Endosement(s), if any;
vi. Documents on adjustment, supplement documents of the Policy (if any).

2.2 The application dossier includes documents on applying for insurance, which are
forms required by the Company, have contents regarding applying for insurance
and information provided by the applicant for the Company to appraise risk on
which the Company bases to accept or reject the request. The application dossier is
declared, signed and provided by the Policy Owner, the Life Insured and others
relating to applying for insurance.

2.3 The Company will not cover the Life Insured and the Contract will not take effect
from the time of signing, if:

a) The Company has not received a written consent of the Life Insured for the
insurance, or a writen consent from Life Insured’s parents or legal guardian, in case
the Life Insured is juvenile. The application form signed by Life Insured or Life
Insured’s parents or legal guardian shall be deemed to constitute consent in writing;

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b) The Policy Owner and the Life Insured has no relationship which can be covered
under the provisions of the law on insurance business.

In these case, the Company will have no obligation to pay any benefits under the
Policy but only refund of:

(i) Policy Account Value valued on the Next Valuation Date after the date the
Company rejects the Policy; and

(ii) Premium Load, Cost of Insurance and Policy Fee collected; and

(iii) Rider premiums (if any).

Less:

(iv) All claims paid (if any),

(v) Indebtedness (if any),

(vi) Medical check expenses (if any).

The Policyowner is not required to refund any paid payments if above payments (i,
ii and iii) are less than above-mentioned deductions (iv, v and vi).

ARTICLE 3: TEMPORARY INSURANCE COVERAGE

3.1 During the temporary coverage period, the Company will pay the minimum of VND
200,000,000 (two hundred million Vietnam Dong) or (total) Sum Assured of all base
plan specified in the Application Forms for the insurance being processed, counted
per Basic Life Insured, in case of death due to Accident of the main Life Insured
during the temporary coverage period. The Company will pay temporary insurance
benefits to the beneficiaries named in the Application Form. However, if total
premiums of all Applications are in excess of VND 200,000,000, the Company will
refund the premium paid, without interest. The temporary coverage period only
applies to the Basic Insurance Benefit and does not apply to any Rider(s). Once this
temporary insurance benefit is paid, the premium will not be returned to the Policy
Owner.

The temporary coverage period commences when the Company has stamped to
acknowledge receipt of the eligible insurance application documentation and the
initial premium. The temporary coverage period will expire as soon as the Company
issues the Policy Contract, or rejects the insurance application.

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3.2 The conditions of temporary insurance coverage: the temporary insurance benefit
shall be only paid if the Life Insured is eligible to insurance requirements according
to standard conditions based on the information declared on the application.

3.3 The Company will not pay the temporary insurance benefits specified above and only
return all the paid premiums, without interest, subtracting any medical check
expenses to the Policy Owner if the death of the Life Insured is caused directly by any
of the following events:

a) Suicide, regardless of the mental condition of the Life Insured; or

b) Use of drugs or any other illegal addictive substances violating the current law of
Vietnam; or

c) Criminal Acts committed by the Life Insured or Policy Owner or Beneficiaries; or

ARTICLE 4: FREE LOOK

This Policy may be cancelled by the Policy Owner upon written request to the Company
within twenty-one (21) days following receipt of the Policy by the Policy Owner. The
Policy Owner shall have to return the official invoice(s) and the Contract to the
Company. In which case, the Company will return all premiums paid, without interest,
after deducting medical fees or all costs and expenses incurred in connection with the
issuance of the Policy.

ARTICLE 5: INFORMATION DISCLOSURE OBLIGATION OF THE

COMPANY

5.1 When entering into the Policy, the Company shall itself or through intermediaries
provide adequate information relating to this Policy and fully explain to the Policy
Owner about the terms and conditions of this Policy. In case where the Company
deliberately provides false information to enter into this Policy, the Policy Owner
shall be entitled to unilaterally terminate the Policy and get back all paid
premium.

5.2 The Company shall not transfer personal information provided by the Policy
Owner/Life Insured to any third party, except for:

a) Collecting, using, transferring as per request of Government’s offices or for

purpose of underwriting, actuary, insurance issuance, operation reserved, claims
payment, research of product design, anti-selection prevention, financial
evaluation, affordability, capital sufficiency, capital requirement, afer-sales
service and customer care.
b) Being agreed in writing by the Policy Owner/the Life Insured with the conditions
that:

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 - The Policy Owner/ the Life Insured must be informed about the purpose of
transferring information and has the right to decide whether they want to
transfer or not; and

- The Company shall not refuse to issue the policy if the Policy Owner/the Life
Insured does not agree for the Company to transfer their information as
mentioned above.

ARTICLE 6: DUTIES OF PROVIDING INFORMATION

6.1 The Policy Owner and/or the Life Insured has obligation to declare and provide
the Company with complete and correct information as required by the Company
for the Company to underwrite this Policy or the Rider Insurance Benefit(s), if
any. Medical check, if any, shall never supersede the Policy Owner’s and/or the
Life Insured’s duty to disclose complete and correct information.

6.2 The Company has the right to unilaterally suspend implementation of the
Policy/Rider or disapprove for Policy reinstatement if the Policy Owner and/or
the Life Insured is not honest in declaration of necessary information according to
article In this case, the Company will only refund Surrender Value after deducting
all claims paid. The Company will not request the Policy Owner to refund any
amount if Surrender Value is less than the deduction as mentioned above. At the
time the Company detects any fraud(s), any benefit which has been approved but
has not been paid will be cancelled, invalid, and no longer be paid by the
Company.

6.3 In case Policy Owner and/or Insured violates the responsibility of declaring
information as prescribed in Article 6.1 but that does not affect the Company’s
decision of issuing the Policy or reinstating the Policy from time to time, the
Company shall pay for benefits following the Policy if occuring insurance event.
In this case, the Company may collect an extra premium or decrease the Face
Amount in consistent with risk rate (if any) according to underwriting regulatoins.

ARTICLE 7: MISSTATEMENT OF AGE AND SEX OF THE LIFE INSURED

7.1 If the date of birth and/or sex of the Life Insured has been misstated, but still fall
within the Company's insurable ranges, the Company may recalculate and adjust
the Cost of Insurance, Regular Premium and/or other expenses according to the
correct age and sex following the Company’s rulings from time to time. Policy,
Policy Account Value and details of the Life Insured shall be adjusted
accordingly.

7.2 Following a misstatement of age on the application and the true attained age of
Life Insured fall outside of the Company’s insurable age range as stated in Article
1.4 or the provision of Rider(s) (if any), the Company has the right to terminate

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 this Policy and any Rider(s). If the Policy is terminated, the Company shall only
return to the Policy Owner:
(i) Total Policy Account Value valued at the Next Valuation Date after the
date Company rejects the policy; plus
(ii) Collected Premium Load, collected Cost of Insurance, and collected
Policy Fee;
Less:
(iii)Paid insurance benefits and Indebtness (if any); and
(iv) Cost of medical check or examinations (if any).
The Company will not require repayment if the sum of the amounts of (i) and (ii) is
less than the sum of the amounts of (iii) and (iv).

ARTICLE 8: INCONTESTABILITY

8.1 Except for Misstatement of age and/or sex as per Article 7, the Policy Owner’s and/or
the Life Insured intend to disclose incorrect, incomplete or untrue information or as
metioned in the Article 6, when the Policy is still in-force, whether such failure to
disclose or misrepresentation is in the application for this Policy, any medical form or
any written statements or answers furnished as evidence of insurability, will not
render this Policy voidable by the Company after it has been in force for more than
twenty-four (24) months from the Policy Issue Date or the reinstatement date,
whichever is later.

8.2 This incontestability provision will not apply to the case where the Policy Owner
and/or Life Insured intentionally declares and provides incomplete or incorrect
information which the Company would not have issued this Policy.

ARTICLE 9: CURRENCY AND PLACE OF PAYMENT

All amounts payable either to or by the Company will be in Vietnam Dong. All amounts
payable by the Company will be paid only in the Socialist Republic of Vietnam.

ARTICLE 10: OWNERSHIP & BENEFICIARY

10.1 Policy Owner

a) The Policy Owner shall exercise every right and obligation given by this Policy
and/or Operation Process.

b) While this Policy is in force, if the Policy Owner who is an individual dies:

(i) In case the Life Insured’s Attained Age is under eighteen (18) years old,
his/her legal guardian will become new Policy Owner of the Policy if they
meet all conditions as provided in this Policy. All the rights and obligations

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 granted by this Policy will be passed to the new Policy Owner upon the
Company’s approval.

(ii) If the Life Insured’s Attained Age is at least eighteen (18) years old and meets
all conditions under this Policy and laws and regulations regarding the Policy
Owner, then the Life Insured will become the new Policy Owner of the
Policy. All the rights and obligations granted by this Policy will be passed to
the new Policy Owner upon the Company’s approval.

c) While this Policy is in force, if the Policy Owner who is an organization terminates its
operation (through dissolution, bankruptcy, or other termination cases as prescribed
by law) and the Life Insured’s Attained Age is at least eighteen (18) years old, then
he/she will become the new Policy Owner of this Policy if he/she meets all conditions
under this Policy and laws and regulations hereof. In case the Life Insured’s Attained
Age is under eighteen (18) years old, the legal guardian of the Life Insured will
become the new Policy Owner should this legal guardian meet all conditions under
this Policy.

d) The Company assumes no responsibility for the validity and dispute of any
designation or declaration to new Policy Owner.

10.2 Beneficiary(ies)

a) Beneficiary(ies) is specified in the application form, or amended and approved by the

Company through Endorsement(s). The Beneficiary(ies) shall receive the benefits of
this Policy upon the death of the Life Insured. All other benefits of the Policy
becoming due during the lifetime of the Life Insured will be payable to the Policy
Owner or as otherwise agreed between the Company and the Policy Owner.

b) If there is no Beneficiary(ies) appointed or all Beneficiary(ies) are deceased or

terminated before the death of the Life Insured, all insurance benefits payable to the
Beneficiary(ies) will instead be paid to the Policy Owner or the Policy Owner’s
heir(s).

c) If there are two or more Beneficiary(ies):

(i) unless otherwise provided in this Policy or in a beneficiary designation in

effect under the Policy, the benefit payable upon the Life Insured’s death will
be paid in equal shares to all Beneficiaries; and

(ii) Should there is any Beneficiary who died or terminated before the death of the
Life Insured, such portion of payable benefit shall be distributed to the
remaining Beneficiaries, unless otherwise provided in this Policy or in a
beneficiary designation in effect under the Policy.

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d) Except as specified in the Application form, the designated Beneficiary must be made
in writing and must be approved by the Company's Endoresements. During the
lifetime of the Life Insured, the Policy Owner can change the Beneficiary(ies) in
writing upon the Company’s approval and shall not be subject to consent from the
existing Beneficiary(ies).

e) Notwithstanding the other rules under this Policy and unless otherwise approved in
writing, in case the Policy Owner is an organization:

(i) The death benefits will be paid to the Beneficiary(ies). The benefits relating to
Partial Withdrawal or Full Surrender, or Maturity Benefit will be paid to the
Policy Owner. All remaining benefits under this Policy will be paid to the Life
Insured;

(ii) If there is no Beneficiary(ies) legally appointed, all insurance benefits payable

to the Beneficiary(ies) will be paid to the Life Insured’s heir(s); and

(iii) In any case, the change of Beneficiary(ies) must be consented by the Life
Insured.

f) The Company assumes no responsibility for the validity of any designation or

declaration to the Beneficiary(ies).

ARTICLE 11: CHANGES TO THE POLICY

While this Policy is in force, the Policy Owner may request for changes to this Policy
subject to the terms and conditions hereof. Changes to the Policy, include, but are not
limited to, Beneficiary(ies) change as defined in Article 10.2, change in contact
information and occupation, assignment as prescribed in Article 11.1 and 11.2, changes
in premium payment modes, Face Amount, adds or deletes riders, policy reinstatement,
partial withdrawal, and fund switching shall be effected by way of submitting written
request to the Company and then subject to its approval or issuing applicable
Endorsement(s).

The requirements and procedures related to above changes will be mentioned clearly in
Operation Process.

11.1 Change of contact information, resident place and occupation

a) If the Policy Owner and/or the Life Insured change(s) their contact information,
resident place, travelling abroad more than ninety (90) days, address, full name, or
identity card, the Policy Owner has to provide a notice in writing to the Company
within thirty (30) days of the change.

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b) The Life Insured must inform in writing to the Company, including: changes in the
Life Insured’s occupation or the occupation’s nature or the participation in dangerous
sports activities within thirty (30) days from such changes.

c) In these cases (even the Policy Owner informs the Company or not), the Company
has the right to either continue the insurance benefits under this Policy with the same
terms and conditions; and/or change the Cost of Insurance, and/or the Regular
Premium, and/or Face Amount; and/or exclude some benefits or terminate the Policy.
In case of Policy termination, the Company shall pay to Policy Owner Surrender
Value at that time. The Company shall not require any repayment if the Policy Owner
still owes the Company after deducting from Surrender Value.

11.2 Assignment

a) During the lifetime of the Life Insured and while this Policy is in force, the Policy
Owner may assign this Policy by sending the notice in writing to the Company and
getting the Company’s approval with Endorsement. The assignee must meet all
conditions related to the Policy Owner as provided in Article 1.3.

b) The Company has no responsibility for the validity or sufficiency of any assignment.
All the rights and obligations granted by this Policy will be passed to the assignee
upon the Company’s approval.

CHAPTER 2: COVERAGE AND BENEFITS

ARTICLE 12: DEATH BENEFIT

12.1 While this Policy is in force, if the Life Insure dies, the Company shall consider to
pay the death benefit as follows:

12.1.1 For Basic Insurance Plan, the Company will pay the total of:

(i) Top-up Account Value determined on the Next Valuation Date after the
date of receiving death benefit claim request;
And

(ii) the higher of:

• The Face Amount as of the event date; or

• Basic Account Value determined on the Next Valuation Date after the
date of receiving death benefit claim request.

12.1.2 For Advanced Insurance Plan, the Company will pay the total of:

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 (i) The Face Amount as of the event date; plus

(ii) Policy Account Value determined on the Next Valuation Date after the
date of receiving death benefit claim request.

12.2 Notwithstanding the regulations in Article 12.1 hereinbefore, if the Life Insured is
juvenile with Attained Age below four (4) years old, the Face Amount defined in Article
12.1 shall be adjusted in accordance with the following Attained Age and scale:

Life Insured’s Attained Age at the event Adjusted rate (% of

date Face Amount)
From one (1) month old to under one (1)
20%
year old
From one (1) year old to under two (2)
40%
years old
From two (2) years old to under three (3)
60%
years old
From three (3) years old to under four (4)
80%
years old

12.3 Prior to paying the Death Benefit as defined in Article 12.1, the Company will
also make the following adjustments:

a) Plus:

(i) Riders benefits that become payable according to the Rider Provisions attached
to this Policy (if any);

(ii) All paid premiums, without interest, submitted after the date the claim notice is
submitted (if any);

(iii) Cost of Insurance, Policy Fee, without interest, deducted after the date of death
of the Life Insured.

b) Minus:

(i) Indebtedness (if any);

(ii) All benefits paid by the Company which arise after the event date (if any).

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ARTICLE 13: MATURITY BENEFIT

On the Policy Maturity Date, if the Policy is still effective, the Company will pay for the
Policy Owner Policy Account Value determined on the Next Valuation Date after
Maturity Date minus Indebtedness (if any).

ARTICLE 14: LOYALTY BONUS

14.1 Regular Loyalty bonus

a) At the third (3rd), six (6th), nine (9th), twelveth (12th), fifteenth (15th) and
eighteenth (18th) Policy Anniversary Date, the Company will pay loyalty bonus
equivalent to three (03) percent of the average Basic Account Value of preceding
thirty six (36) Policy Monthiversaries, including the Policy Monthiversary at the
Regular Loyalty Bonus review date, provided that the policy meets all of the
following conditions:

(i) Policy is inforce at the time of review and has not lapsed during a given
bonus review period; and

(ii) No partial withdrawals from Basic Account Value were made during a
given bonus review period (including automatically withdrawals for
premium payment) ; and

(iii) Basic Premium must be paid regularly and fully every year during a given
bonus review period; and

(iv) No reduction in Face Amount upon request of the Policy Owner during a
given bonus review period.

b) For this Article 14.1, the bonus review period is defined as every three (03) Policy
Years preceding a loyalty bonus payout date. The review periods will continue
one after another starting from the Policy Effective Date.

c) Regular Loyalty Bonus will be allocated in Basic Account according to the latest
Premium Direction requested by Policy Owner and based on the Unit Price valued
at the Next Valuation Date after paying the bonus.

14.2 Special Loyalty Bonus

a) In addition to Regular Policy Loyal Bonus as mentioned in Artile 14.1, the

Company will pay Special Loyalty Bonus as follow:

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 (i) On the tenth (10th) Policy Anniversary Date: one hundred percent (100%)
of the sum of collected Premium Loads in the first three (03) Policy Years,
and

(ii) On the twentieth (20th) Policy Anniversary Date: three hundred percent
(300%) of the sum of collected Premium Load in the first three (03) Policy
Years.

If the Policy meets all of the following conditions:

(i) Policy is in force at the time of review and has not lapsed during a given
bonus review period; and

(ii) No partial withdrawals of Basic Account Value were made during a given
bonus review period (including automatically withdrawals for premium
payment); and

(iii) Basic Premium must be paid regularly and fully at every premium paying
period; and

(iv) No reduce of Face Amount upon request of the Policy Owner during a
given bonus review period.

b) For this Article 14.2, the bonus review period is defined as:

(i) The first ten (10) Policy Years counted from the Policy Effective Date for
the bonus paid at 10th Policy Anniversary Date; or

(ii) From the eleventh (11) Policy Year to the twentieth (20) Policy Year for
the bonus paid at twentieth 20th Policy Anniversary Date.

c) Special Loyalty Bonus will be allocated in Top-up Account according to the latest
Premium Direction requested by Policy Owner and based on the Unit Price valued
at the Next Valuation Date after the date the Company decides to pay the bonus.

ARTICLE 15: GUARANTEED INSURABILITY OPTION

While the policy is still in force, starting from the second (2nd) Policy Year and before the
Life Insured reaches Attained Age of sixty-five (65) years old, the Policy Owner can
request to increase the Face Amount without re-underwriting in case the Life Insured was
married or had a child (offspring), with the following conditions:

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 a) The Policy was approved as a standard case with no substandard or extra rating or
exclusions at the Policy Issue Date or the Effective Date of the last reinstatement,
whichever is later; and

b) The policy change request and supporting documents are sent to the Company
within six (6) months from the relevant event date; and

c) The maximum amount of each increase is fifty percent (50%) of the original Face
Amount at the time of issuance of the Policy; and

d) The new Face Amount must comply with the rule for maximum Face Amount;
and

e) During the entire policy term, the maximum number of increase in Face Amount
provided by Article 15 is three (3) times and sum of increased amounts does not
exceed one billion (1,000,000,000) VND.

f) The premium must be paid based on the Company’s rules from time to time.

g) The Company reserves its discretion right to accept/decline the request of increase
in Face Amount as defined at this Article from time to time.

Regular Premium, Cost of Insurance and/or the other conditions under the Policy and/or
the conditions under the Rider (if any) will be adjusted in order to reflect the new Face
Amount. The new Face Amount is effective from the next Policy Anniversary Date after
the Company’s approval date.

ARTICLE 16: NON LAPSE GUARANTEE BENEFIT

In the first three (03) Policy Year, the base plan shall remain in force although the Policy
Account Value is not enough for payment of Monthly Deductions and Indebtedness (if
any) if the following conditions are satisfied:

a) The Policy Owner shall fully and timely pay for the Basic Premiums due; and

b) There is not any Partial Withdrawal from Basic Account Value (including
automatically Partial Withdrawal from Account Value to pay premium) during
those three (03) Policy Years.

Monthly Deductables during non lapse guarantee period shall be considered as

Indebtedness. After non lapse guarantee period, the Policy Owner shall fully pay
premium to deduct the Indebtedness.

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In non lapse guarantee period, the right to increase face amount (including increase
without re-underwriting) shall not be applied.

CHAPTER 3: EXCLUSIONS

ARTICLE 17: EXCLUSIONS FOR DEATH BENEFITS

17.1 Company shall not pay any death benefits if the Life Insured dies due to a direct
cause related to one of the following events/acts:

a) Suicide or intend to commit a suicide while sane or insance, within two (2)
years from the Policy Issue Date or the effective date of the latest
reinstatement, whichever occurs later. For increases in the Face Amount,
this exclusion will be applicable within two (2) years from the effective
date of the increase in the Face Amount; or

b) Criminal Act of the Policy Owner, the Beneficiary, or the Life Insured; or

c) Any death in connection with Acquired Immune Deficiency Syndrome

(AIDS) and any AIDS Related Complex (ARC), or infection by Human
Immunodeficiency Virus (HIV).

17.2 Under any of the above circumstances, the Company shall only pay the Policy
Owner:
.
(i) Policy Account Value determined on the Next Valuation Date after
the date the Company refuse to pay the benefits; and
(ii) Collected Premium load, Cost of Insurance, and Policy Fee;

less:

(iii) All paid insurance benefits and Indebtedness (if any); and
(iv) Medical check and examinations expenses.

The Company shall not require the Policy Owner to reimburse any paid benefit
amounts if the sum of the amount mentioned in item (i) and (ii) is smaller than the
sum of the mount mentioned in item (iii) and (iv).

CHAPTER 4: PREMIUM AND POLICY’S EFFECTIVENESS

ARTICLE 18: PREMIUM

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18.1 Premium and obligation to pay Premium

Premium needs to be paid according to the payment mode as specified in the Policy
Schedule Page or Endorsement(s) (if any).

Policy Owner must pay premium due in accordance with the payment mode to keep the
Policy and Rider(s) (if any) in-force.

18.2 Premium allocation

18.2.1 Premium allocation mode
If the Policy Owner does not have an instruction with respect to payment for
Rider Premium and all Basic Premium due have been fully paid, any additional
amounts paid by the Policy Owner shall be considered as Top-up Premium.
If the payment for Rider Premium is instructed by the Policy Owner, the premium
paid by the Policy Owner shall be allocated as follows:
a) For the first three (03) Policy Year:
If the deposited premiums are sufficient for all due Regular Premium, such
amount shall be used to pay for them. The remaining amount (if any) shall
be paid for Top-up Premium.
If the deposited premiums are insufficient for all due Regular Premium,
such amount shall be used to pay for each due Regular Premium. If the
remaining amount (if any) is not sufficient to pay for one due Regular
Premium, it shall be kept at the Company Suspense Account (hereafter
called “Suspended Premium”) until the Policy Owner pay the shortage
premium in accordance with following rules:
i. During the grace period, the Suspended Premium and the additional
premium (if any) will be paid for each due Regular Premium. The
remaining premium (if any) after fully paying for all due premiums (if
any) shall be credited to Top-up Premium.
ii. After the grace period, if all the due Regular Premiums have not yet
been fully paid:
• All Riders will be cancelled;
• Company will use Suspended Premium, additional premium (if
any) and withdraw a part of Policy Account Value (if needed) to
pay for due Basic Premiums. The Policy will be lapsed if the
above amounts are not enough to pay for due Basic Premium.
b) From the fourth Policy Year:
If the deposited premiums are sufficient for all due Regular Premium, such
amount shall be used to pay for them. The remaining amount (if any) shall
be paid for Top-up Premium.
If the deposited premiums are insufficient for all due Regular Premium,
such amount shall be used to pay for each due Regular Premiums. If the
remaining amount (if any) is not sufficient to pay for one due Regular
Premium, it shall be kept at the Company Suspense Account (hereafter
called “Suspended Premium”) until the Policy Owner pay the shortage
premium in accordance with following rules:

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 i. During the grace period, the Suspended Premium and the additional
premium (if any) will be paid for each due premium. The remaining
premium (if any) after fully paying for all due Premiums will be paid
as Top-up Premium.
ii. After grace period, if the all due Regular Premiums have not paid
fully yet, the total of Suspended Premium and the additional premium
(if any) shall be allocated as follows:

Premium deposit for Riders:
• If the Policy Owners register paying Rider Premium from
Policy Account Value: all Suspended Premium, additional
premium (if any) and any amount withdrawn from Policy
Account Value (if needed) are used to pay for due Rider
Premiums. All Riders will be cancelled if the above
amounts are not enough to pay for due Rider Premiums.
• If the Policy Owners do not register paying Rider
Premium from Policy Account Value: all Suspended
Premium and additional premium (if any) are used to pay
for due Rider Premiums. All Riders will be cancelled if
the above amounts are not enough to pay for due Rider
Premiums.

The remaining amount of Suspended Premium and additional
premium (if any) after paying Rider Premiums are used to pay
for each due Basic Premium.

The remaining amount, if any, after paying all due premium will
be paid for Top-up Premium.
The Policy Owner is entitled to use the Application Form or
Endorsements, where applicable, to register for withdrawing from
Policy Account Value to pay for Rider Premium.
The Policy Owner is entitled to withdraw the Suspended Premium at
any time.
18.2.2 If the premiums are paid before the 15th day from the Premium Due Date,
the premiums are allocated following the below order:
a) Due regular Basic Premium(s) (or Regular Premium in case the Policy
Owner has instruction regarding payment for due Rider Premium) (if
any)).
b) Top-up Premium.

18.2.3 If premiums are paid within fifteen (15) days before the Paid-To-Date, the
premiums are allocated following the below order:
a) Due Regular Basic Premium(s) (or Regular Premium in case the
Policy Owner has instruction for payment of due Rider Premium) (if
any).
b) Otherwise, the remaining premium shall be allocated as follows:
• Regular Basic Premium (or Regular Premium in case the
Policy Owner has instruction for payment of Rider Premium)
of the next premium period.

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 • Top-up Premium.

18.2.4 Basic Premium (including any premium withdrawn from Policy Account
Value) and Top-up Premium will be allocated to Fund(s) by buying Units
at Unit Price determined on the Next Valuation Date after the date on
which the Company has received the premium. The allocation shall be
executed according to the most recent Premium Direction, except
otherwise indicated in writting by the Policy Owners.
With respect to the premium withdrawn from Policy Account Value (if
any), the Company will, first, withdraw from the Top-up Account Value,
and then, withdraw from the Basic Account Value (if needed). The Unit
Price shall be determined on the Next Valuation Date after the date on
which the Policy Account Value is withdrawn to pay premium.
18.3 Top-up Premium
a) While the Policy is in force, in addition to the Regular Premium, the
Policy Owner can invest by paying Top-up Premium to buy Units. If the
Policy Owner has instruction regarding payment of Rider Premium, the
Top-up Premium is the remaining after the due Basic Premium and Rider
Premium have been fully paid. Conditions and process of paying Top-up
Premium is provided in Operation Process.
b) Top-up Premiums shall be allocated to Top-up Account according to the
most recent Premium Direction and used to buy Units at the Unit Price
determined on the Next Valuation Date after the date on which the
Company accepts the Top-up Premium.
18.4 The Company shall have the right, but not the obligation, to send notice of
premium payment to the Policy Owner as a reminder. However, the Policy Owner
shall have his/her responsibility to pay premium on or before the Paid-To-Date,
even if they have not yet received the reminder.

ARTICLE 19: GRACE PERIOD AND LAPSE

19.1 A grace period of sixty (60) days shall be allowed from the day when one of
following events occurs, whichever is earlier:

a) Within the first three (03) Policy Year:

(i) When Basic Premium is not fully paid on Paid-To-Date; or

(ii) When the Policy Account Value less any Indebtedness is not
sufficient to cover the Monthly Deduction, except for the case
where the Policy satifies the requirements in Article 16.

b) From the fourth (4th) Policy Year onwards: Policy Account Value less any
Indebtedness is not sufficient to cover the Monthly Deduction.

The Policy will continue to be in force during the grace period.

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19.2 The Policy shall lapse in case:

a) In the first three (03) Policy Year: the Policy will lapse if, at the end of the
grace period, one of the following happens:
- Basic Premium is not fully paid and Policy Account Value is insufficient
to pay for due Basic Premium; or
- The Policy Account Value less any Indebtedness is not sufficient to cover
the Monthly Deduction, except for the case where the Policy satisfies the
requirements in Article 16.
b) From the fourth (4th) Policy Year onwards:
Policy shall lapse if, at the end of grace period, Policy Account Value less
indebtedness is not sufficient to cover the Monthly Deductions.

During the Policy’s lapse period, there are no Monthly Deductions or any
expenses arising as well as any benefits paid.

19.3 Rules after Policy lapses:

a) All Units will be converted to money based on Unit Price valued on the Next
Valuation Date after the Policy lapse date. This money will be held at the
Company, without interest. Policy Owner can request to withdraw all of the
money above at any time after deducting the applicable Surrender Charge,
which is determined at the Policy lapse date. After that, the Policy is
terminated.

b) In case the Policy Owner has not requested to withdraw the amount above:

o Within two (2) years from the Policy lapse date, if the Policy Owner has a
request to reinstate the policy and such a request is approved by the
Company, the amount above will be converted back to Units
corresponding with Unit Price on the Next Valuation Date after the
request date and is allocated following the Premium Direction similar to
premium payment case.
o After two (2) years since the lapse date, if the Policy Owner does not
request to reinstate the policy, the Company will deduct the applicable
Surrender Charge, then, the Policy is terminated. The Company will
advise the Policy Owner to get the remaining amount (if any).

ARTICLE 20: REINSTATEMENT

Within two (2) years from the lapse date of the Policy, but not later than the Policy
Maturity Date, the Policy Owner may request for reinstatement. Conditions for
reinstatement are provided in Operational Proccess.

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ARTICLE 21: PARTIAL WITHDRAWAL (“FUND WITHDRAWAL”)

a) The Policy Owner can partly withdraw from the Policy Account Value by sending a
written request to the Company. The withdrawal amount shall determined by selling
back relevant Units at Unit Price on the Next Valuation Date after the date when the
Company accepts the Policy Owner’s request.

b) The Policy Owner has to state clearly in its request regarding which Funds will be
withrawn: Basic or Top-up Account. Once requesting to withdraw from Basic
Account, the Policy Owner has to pay Partial Surrender Charge (if any) and the
Face Amount can be adjusted accordingly.

c) Conditions for re-selling the Units and procedure for Partial Withdrawal are
provided in the Operation Process.

ARTICLE 22: FUND TRANSFER AND CHANGING PREMIUM DIRECTION

22.1 Fund Transfer

a) While the Policy is still in-force, at any time, the Policy Owner can request
the Company to move the whole or a part value of any Fund(s) to one or
more other Fund(s) within the same account.

b) Fund transfer shall be carried out based on Unit Price on the Next
Valuation Date after the date on which the Company accepts the Policy
Owner’s request. Condition and procedure of fund transfer are provided in
the Operation Process.

22.2 Changing Premium Direction

While the Policy is still inforce, the Policy Owner may request to change
Premium Direction as follows:
a) Change of Premium Direction shall be only applied for future Premium(s)
until there is other instruction of the Policy Owner.
b) The change of Premium Direction must be comply with the minimum
allocated ratio of the Company as regulated in the Article 3 of the
Operation Process from time to time.

ARTICLE 23: SURRENDER

While the Policy is still in force, Policy Owner can request to surrender Policy to receive
the Surrender Value by sending a written request in accordance to the Company’s
regulations.

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ARTICLE 24: OTHER RIGHTS TO THE POLICY
24.1 Changing the Face Amount and/or Plan
a) While the Policy is still in-force, besides the right to increase the Face
Amount without underwriting as provided in the Article 15, the Policy
Owner can request for increasing or decreasing the Face Amount and/or
changing the Plan following the requirements in the Operation Process.
Such change(s) (if approved by the Company) shall take effect on the next
Policy Aniversary Date.
b) In case the Company approves for the increase of the Face Amount and/or
changing of the Plan, the Basic Premium, Cost of Insurance and the Face
Amount could be changed and defined specifically in the Operation Process.

24.2 Add or Delete Rider

a) Adding Rider(s): While the Policy is still in-force, subject to the Company’s
approval, the Policy Owner may apply to add Rider(s).
b) Cancelling Rider(s): While the Policy and Rider(s) are still effective, the
Policy Owner may request to remove Rider(s)

Requirements and documents for adding/cancelling Rider(s) are defined in the

Operation Process.

CHAPTER 5: INFORMATION OF VARIABLE LIFE FUND AND ACCOUNT

VALUE

ARTICLE 25: INFORMATION OF VARIABLE LIFE FUNDS AND ACCOUNT

VALUE

25.1 The structure and operations of Variable Life Funds

a) The Company establishes and maintains Variable Life Funds for the Policy
Owner to choose and allocate premium into the Funds after deducting applicable
fees. Objective, strategy and policy of investment of each Fund is provided in the
Appendix 1 hereof or notices of establishment or change or cancellation of Fund
made by the Company from time to time.

b) Each Fund includes Units having the same value. Value of each Unit shall be
determined in accordance with the rules as provided in this Policy and be
changed from time to time upon conditions of market.

c) The Company reserves the right to delegate all or any of the Company’s
discretion and investment powers to any third party on such terms as determined
by the Company.

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25.2 Fund Unit valuation

The Company will determine the net asset value of the Fund on the Valuation
Date in order to determine Unit Price of the Funds. Valuation period shall be
regularly carried out according to decision of the Company, but at least once a
week, except for otherwise regulated by the law.

The net asset value of the Fund indicates:

(i) All income, profit/loss, collected or uncollected, including profit or loss

relating to investment operation of the Fund.
(ii) All expenses arising directly or indirectly in transaction of Fund Unit.
(iii) All expenses arising directly or indirectly relating to management,
maintainance and valuation of asset of Fund.
(iv) All fees, taxes according to the law relating to income from investment or
growth of the Fund.
(v) Fund management fee (as defined in the Article 26.7).
(vi) Other resonable expense arising (if any) according to the law.

25.3 Fund Unit

Quantity of existing Units of each Fund may be adjusted by operations as follows:

(i) Increasing quantity of Units due to allocation of Basic Premium and Top-
up Premium;
(ii) Increasing quantity of Units due to entitlement of loyalty bonus (if any);
(iii) Increasing/decreasing quantity of Units due to Fund transfer;
(iv) Decreasing quantity of Units due to Partial Withdrawal from Account
Value or surrender;
(v) Decreasing quantity of Fund Units due to paying for Monthly Deductions,
Rider Premium and Basic Premium (if any), and other relevant fees.

25.4 Establishment or closure of Fund(s)

a) Subject to the Company’s policy from time to time, the Company can establish
new variable funds at any time. All regulations in this Policy shall be applied for
new Funds, unless otherwise provided.

b) The Company has the right to close or change name of the Fund(s). If any Fund is
closed or whose name is changed, the Company has to inform the Policy Owner
in writing at least 3 (three) days prior to being applied. It is considered to
complete this obligation since the Company sends mail to the Policy Owner’s
address as declared in the Application form or as revised by the Policy Owner (if
any), and since the date of posting the information on the official website of the

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 Company. The establishment or closure of Fund(s) must be approved by the
Ministry of Finance in writing.

c) After the Company informs about the closure or change the name of the Fund, the
Policy Owner has a period of 30 (thirty) days to make a request form to the
Company for purchasing Units or transferring Units from the closed Funds to other
Funds established by the Company. Upon expiry of the period without receipt any
written requests of the Policy Owner, the Company has the right to cancel Units of
the closed Funds and allocate Units into existing Funds as provided in the
Operation Process. This allocation is legal and binding on the Policy Owner. The
Company is not obliged to cancel the transactions or indemnify the Policy Owner
in any manner whatsoever relating to the cancellation and reallocation of Units
according to this Article.

25.5 Methods of protecting and increasing benefits of the Policy Owner

The Company is allowed to apply the below methods to protect and increase
benefits of the Policy Owner:
(i) Closing Fund to move its asset to a new variable fund having the same
investment objective;
(ii) Changing the name of Variable Fund;
(iii) Spliting or merging units of existing funds;
(iv) Stopping to value variable funds and transactions relating to the policy in
case the Stock Exchanges where the variable fund is investing in are
temporarily suspended trading;
(v) Các biện pháp khác theo yêu cầu của cơ quan nhà nước có thẩm quyền và
theo quy định của pháp luật.

In case of execution of the methods mentioned in point (i), (ii), (iii) and (v), the
Company shall report to the Ministry of Finance and inform the Policy Owner at
least three (03) days before applying.

25.6 Limit of fund withdraw

In accordance with the Company’s regulations and in considering of the Policy
Owner’s benefits, maximum daily fund withdrawal ratio provided by the
Company is 10% of total net asset value of that Fund. This limitation shall be
applied in accordance with equivalent ratio for Fund withdrawal request being
effective on the Valuation Date. The ratio exceeding the above limit shall be
carried out subject to conditions of the Next Valuation Date.

CHAPTER 6: CHARGE AND FEES

ARTICLE 26: CHARGES AND FEES

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26.1 Premium Load

Premium Load will be deducted from the Basic Premium and Top-up Premium
before any allocation thereof. Premium Load ratio is determined according to the
Premium Year as table below:

Premium Year Basic Premium Top-up Premium

1 65% 2%
2 50% 2%
3 35% 2%
From the 4th Premium
2% 2%
Year onwards

26.2 Policy Fee

a) Policy Fee will be deducted monthly from the Basic Account Value on every
Policy Monthiversary Date. If the Basic Account Value is not sufficient for such
deductions, the remaining Policy Fee will will deducted from the Top-up Account
Value.
b) In the year of 2017, the Policy Fee is VND 29,000 per month and shall be
automatically increased by VND 2,000 every following Calendar year. However,
any adjustment to the Policy Fee shall not exceed VND 60,000 per month.

c) The Company shall be entitled to adjust the Policy Fee or the increased rate of the
Policy Fee within the limit above. In case the adjustment is excessive of the limit
as mentioned in the Article 26.2.(b), the Company must obtain the approval from
the Ministry of Finance for those adjustments. In case of increasing of the Policy
Fee, the Company will send a written notice to the Policy Owner at least three (3)
months before the new Policy Fee is applied. In case of reducing of the Policy
Fee, the Company will send a written notice to the Policy Owner three (3) days
before the new Policy Fee is applied.

26.3 Cost of Insurance

a) While the Policy is still inforce, Cost of Insurance will be deducted monthly on
every Policy Monthiversary Date from the Basic Account Value. If the Basic
Account Value is not sufficient for those deductions, the remaining Cost of
Insurance will be deducted from the Top-up Account Value.

b) The Cost of Insurance rate varies by age, sex, health condition and occupation
class of the Life Insured. The Cost of Insurance rate can be adjusted after getting
MOF’s approval. In such a case, a three (3) months’ prior written notice shall be
dispatched to the Policy Owner before implementation thereof.

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26.4 Surrender Charge

The Surrender Charge, incurred when the Policy is surrendered prior to maturity,
and varies depending on the Premium Year. The Surrender Charge is expressed as
a percentage of the annualized Basic Premium at the Policy Issue Date, based on
the schedule below:

Surrender Charge
Premium Year (% of the annual Basic Premium at
the Issue Date)
01 - 03 100%
04 - 05 90%
06 50%
07 25%
08 10%
09 5%
From the 10th Premium
0%
Year onwards

26.5 Partial Withrawal Charge

a) Fund Withdrawal Charge is incurred when the Policy Owner requests partial
withdrawal from Basic Account Value. The Fund Withdrawal Charges are
defined as percentage of withdrawal amounts based on the schedule below:

Partial Withdrawal Charge

Premium Year (% of withdrawal amount from
Basic Account Value)
1 Not allowed
02 - 03 20%
04 - 05 18%
6 10%
7 5%
8 2%
9 1%
From the 10th Premium
0%
Year onwards

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 The Partial Withdrawal Charge shall be deducted from the partial
withdrawal amount before paying to the Policy Owner.

b) Partial withdrawal from Top-up account value will not be accounted for any
withdrawal charges.

26.6 Fund reallocation charge

a) Fund reallocation charge is an amount which the Policy Owner has to pay
upon implementation of the right to re-allocate Units among Funds. Fund
reallocation charge shall be deducted from the source Fund.
b) In each Policy Year, the Policy Owner has five (05) free fund reallocations.
The Company has the right to adjust the number of free reallocations, but at
least Policy Owner will have one free allocation for each Policy Year.

c) The Fund reallocation charge after the free reallocations is fifty thousand
(50.000) Vietnam Dong per reallocation and will be deducted from the the
source Fund.

26.7 Fund Management Fee

a) The Fund Management Fee will be used to pay for managing activities of
Variable Funds and based on Policy Account Value and each investment
asset of the Fund as below:
Fixed Money
Fund Aggressive Growth Balance Diversify
Income Market
Fund Management Fee
(% Policy Account 2.50% 2.25% 2.25% 1.75% 1.50% 1.00%
Value)

b) Fund Management Fee can be changed. Any increase in the Fund

Management Fee compared to the rate of three (03) percent per annum
(3.0%/annum) must be got the MOF’s approval. A notice shall be sent to
the Policy Owner at least three (03) months before implementation
thereof.

CHAPTER 7: INSURANCE BENEFITS SETTELEMENT - CONFLICT AND

DISPUTE SETTLEMENT - TERMINATION

ARTICLE 27: PROCEDURES FOR SETTLEMENT OF DEATH BENEFITS OF

BASIC INSURANCE BENEFIT AND RIDER(S)

27.1 Claim request submission timeline

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 Notice of insurance events and evidence(s) thereof must be submitted to the
Company within twelve (12) months after the occurrence of the insurance event;
otherwise, the Company will have the right to refuse the payment of insurance
benefit. The Company shall, only review and/or is obliged to pay insurance
benefits if the delay in submission of supporting evidence(s) is the consequence of
force majeure event in accordance with regulations of law.

27.2 Proof of Death Claim of Basic Plan

Prior to making any payment of insurance benefits, the Company shall require the
following valid documents:

(i) Full and accurate completion of claim request form and power of attorney
form provided by the Company; and

(ii) Death certificate/Death excerpt (a copy certified by the local government);

and

(iii) Medical file and the medical record summary, discharge document, test
results, the diagnostic imaging result, the injury certificate, the medical
examination result, invoices, prescriptions (if any), accident report
documentations (in case the insured died due to accident); and

(iv) Original Policy (or a certified copy provided by the Company); and

(v) Other supporting documents such as ID card of the Beneficiary and/or the
authorized person and/or other documents as deemed necessary by
Company’s rule.

27.3 Claim payment timeline

(i) The Company will give its claim decision and pay the claim (if the claim
payment is accepted) within thirty (30) days from the date the Company
receives all required documents. In case the Company declines the claim,
the Company shall give reasons of its decision to decline in writing.

(ii) If, for any reason, a claim payment which is already accepted has not been
paid on schedule, the Company will add interest thereafter at a rate
announced by the Company from time to time on the Company website.

ARTICLE 28: CONFLICT AND DISPUTE SETTLEMENT

28.1 This Policy will be governed by and construed in accordance with the laws of the
Socialist Republic of Vietnam.

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28.2 If any dispute cannot be resolved through negotiation, the dispute will be brought
to the competent Court of Vietnam where the Policy Owner resides or the
Company’s head office is located, where applicable, for hearing.

28.3 The time limit for filing a lawsuit in relation to this Policy is three (3) years or an
other time limit, subject to the current law of the Socialist Republic of Vietnam at
the time arising of disputes.

ARTICLE 29: TERMINATION

This Policy will terminate on the earliest of the following:

29.1 The Date on which the Policy Owner requests for surrender of this Policy as
provided in Article 23; or

29.2 The Policy is lapsed and (i) is not reinstated within two (02) years from the lapsed
date in accordance with the Article 19.3.(b) or (ii) The Policy Owner withdraw all
Policy Account Value as defined in the Article 19.3.(a) ; or

29.3 On the Maturity Date of this Policy; or

29.4 On the date when the Life Insured dies; or

29.5 Other cases as provided in the Policy.

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