In 100 BCE, Caius Marius, a Roman army leader, created his funeral club. When a member of the club dies, the rest of the members donate money for burial, because of the Roman conception. "If you do not properly burial the spirits, the spirits will become bastards. suffering ". In the 450 BC, the Funeral Club had some cases of supporting a bit of money for relatives of dead soldiers. When the Roman Empire collapsed, the Burial Club also collapsed. Europe In the 1600s, Europe's economy relied heavily on maritime, profitable profits to push traders across the oceans to new lands. Those trips promise great success, but also predict the cost of the property, the lives of traders when the ocean is angry. And then, besides the insurance policy for property, boats were thought to have insurance for their own lives. Beginning in medieval times, in northern Europe, in France .. there appeared the wards. The purpose of these wards is to maintain a friendly relationship among the members. To join the guild, members must pay a cash or food stamp. In return, when they die they will be buried in the funeral and funeral. In cases of illness, the members will also receive the money for treatment, they will receive the subsidy when old age, when the misfortune in life. Here, the wards have included the determinant of human insurance, which is the mutual support of fellow boatmen. The risks and opportunities to get rich from transatlantic journeys have given birth to the insurance industry. But getting the life insurance industry developed today must be marked by mathematical inventions and revolutions. In the second century AD, the Un-pin lawyer established the world's first mortality rate. Although there are many forms and basic means for life insurance to take shape, long-term life insurance products are banned by European kings and Catholic churches. . It is thought to be like a game and abuses of human life but reality has proven otherwise. By the 17th century, mathematicians Pascal and Fermat had figured out the probability method, the British mathematician Doxsey perfected the technique of calculating insurance. The profitability and social value that life insurance brings creates a foothold for this product. The first life insurance contract in London in 1583, the insured was William Gybbon. Under a contract, a group of people will contribute money and the money will be paid to one of them who died within a year. At that time, William Gybbon had to pay only 32 pounds of premiums and when he died (that year), his heir was paid £ 400. The first life insurance policy in Philadelphia (USA). The company is still active, but initially it sold the lambs in its church. In 1762, Equitable life insurance in the UK was established and life insurance was sold to every citizen. In Asia, the first Nahan life insurance company was founded in Japan. In 1868 the Japanese insurance company Meiji was born, and in 1888 and 1889, two other companies, Kyoei and Nippon, came into being. The birth of life insurance in Vietnam With a deep understanding of the role and importance of life insurance, the Government and the Ministry of Finance have paid great attention to the development of this profession. With the establishment of life insurance company, the first official in Vietnam in 1996 has confirmed the interest of the state agencies macro level. Although we have been operating life insurance for nearly three years, life insurance in Vietnam has come in many forms in the very early stages. Prior to 1954, in the North, people working for France were insured and some families were entitled to the insurance benefits of these life insurance policies. These contracts are made directly by French insurance companies. In the years 1970 - 1971 in the South Hung Viet Insurance Company has implemented some types of insurance such as "Security education", "Life insurance" (Life insurance), "Insurance dying time 5 - 10 - 20 years ", but this company only operates for one to two years so the insurance business is not widely known.
In 1987, Bao Viet had the project "life insurance and application to Vietnam", but at that time the country's conditions are still difficult such as:
- The inflation rate is very high and unstable.
- People's income is only enough to meet the minimum daily needs, very little savings.
- There are no conditions for the insurance company to operate in the investment field. Insurance companies were not allowed to use the investment insurance fund, investment environment has not developed.
- There are no legal regulations governing the price relationship between the insurance company and the insured, protection of the insured person's interests and solvency of the insurer.
The above difficulties did not allow Baoviet to develop its life insurance business. In lieu of life insurance, in 1990, the Ministry of Finance allowed Bao Viet to implement "One-year life insurance". Unfortunately, the loss of a head of household for one year is unattractive. Psychologists who participate in this type of insurance are also uncomfortable. And so this type of coverage only meets the needs of the elderly. Mostly, all participants in the insurance are wondering, if no risk of getting anything back?
With this fact, together with the assessment of socio-economic conditions in Vietnam in the early 1990s, the Vietnam Insurance Corporation has started conducting research and development of life insurance with two saving in the end of 1993. In January 1994, the Vietnam Insurance Corporation officially submitted to the Ministry of Finance the project to establish a life insurance company.
With the requirements of life insurance fund management, the Ministry of Finance has signed the Decision No. 568 / QD / TCCB on June 22, 1996 to establish a life insurance company under Bao Viet. This event marked a new turning point in the development of the insurance industry in Vietnam.
There are currently 18 life insurers in Vietnam, including the largest life insurers in the world such as Prudential, Generali, Manulife, SunLife, Chubb Life and Dai-ichi. Moreover Prudential is also voted as the most prestigious life insurance company in 2017.
Why is the introduction of life insurance a must?
Life insurance comes from the needs of human life. We know that in life there will be events and risks, so our desire is to try to reduce the risk. So life insurance is indispensable to share the risk of the less fortunate to the majority.
According to the rules of life, birth, growth and death are indispensable. Thus, death is a part of life for anyone living on earth. However, if death is indispensable for every human being, then the time of death is completely undetermined. It is for this reason that if a person is unlucky to die without fulfilling his duty, at least to his relatives, their death will be a burden to their own family. Not to mention that there is a sad reality that many families find it hard to get stressed when the breadwinner is unfortunately at risk for loss or loss of income. In this case, any normal person would like to have a financial source to ensure that they fulfill their obligations to the survivors.
People will also grow old, followed by weak health, labor also lost. Anyone who wishes to be old is happy to live quietly, be happy in a small garden, always clear, always loved by children and still valid in life, not It is a burden for the descendants both physically and mentally. And to do that, you need to be financially independent so you do not have to depend on your children.
Risk is something that no one wants but risks can occur whenever it involves serious illness. Fatal illness is a concern for many people because of the dangers of the disease that is gradually rejuvenating, not concentrated in middle age as before and it is the cause of financial difficulties for hundreds. Thousands of families each year. The cost to successfully treat a case of at least 300 million cases if the disease is detected early. So if you fall in this situation, what would you and your family do without financial ability? Will you die slowly, sell everything you have or you will have to borrow then the family will fall into debt, children, parents who do not care?
In addition, every laborer is aware of saving, saving money to make plans in the future. No one dares to talk about the future and save from today to make sure
No comments:
Post a Comment