Mutual Fund

Mutual Fund: is the product for the poor, near poor and vulnerable groups in society to support them when risks occur.

The purpose of Mutual Fund: Life Supporting products are used to support members and family members when risk occurs such as staying in the hospital, having surgery, or when the members or family members unfortunately passed away or in permanent disabled condition.

Conditions Apply:

- A client participating at the loan funds of MFCDI.

- Individuals and entire families, members of the commune and district where MFCDI actively operates

- Funds applied for membership, legal husband or legal children.

Member Fee:

Each member contributes the amount of 5 thousand  VND / month.

Members who borrow the loan at MFCDI will have to pay monthly with the time to pay the gross, interest, and savings. Members who do not have the loan at MFCDI can pay monthly for the group leaders.

Member Benefits when participating the Life Supporting Fund:

1. Hospital charges support (only for members): after 180 days of paying the fee, if a member is sick and has to stay in the hospital (at the request of doctors from the district level and above) more than 5 days then the member will be supported  30 thousand  VND per day from day 5 onwards. Each year, MFCDI only allows two times for support in the hospital, a total of not more than 7 days / year, the amount not exceeding  210 thousand VND/ year.

2. Risk of death or permanent disability (for all the members of the family):

 

MEMBERS’ BENEFITS TABLE

Time Participating

Member

Legal Husband

Legal Children

(02 months -16 years old)

Less than 6 months

Return fees contributed from the beginning to the present time

No

 

No

6 to 12 months

300 thousand vnd

125 thousand vnd

       90 thousand vnd

 

Above 12 months

1 million vnd

500 thousand vnd

300 thousand vnd

 

Documents Required when Claiming the Insurance Benefits:

  1. 1.      Hospital Charges Support:

- Application for payment certified by the leader and local loan officers.

- Discharge papers marked with circle stamps, indicate clearly the date of entry, discharge from the hospital district or above.

- Identity card photocopies.

  1. 2.      Risk of death or permanent disability:

- Application for payment certified by the leader and technical staffs.

- Death certificate (certified copy)

- The copy of household registration book (if the husband is a member).

- Copy of birth certificate (if the children from 2 months to 16 years old).

- Identity card photocopies

- A report of the police confirmed the deaths from accidents.

 

When you are not eligible for claiming insurance benefits?

- Deaths due to suicide or self-destructive to the extent of his/her total and permanent disability

- Being in the hospital due to intentional self-destruction and was treated and cured.

- Having malformation disease before participating in the fund without reporting.

- Dental, eye exams

- Pregnancy, infertility or Family Plan

- Cosmetic surgery

- Neurological disorders, insanity nursing

- Periodic health check

- Injection of drugs and cannabis,     

 HIV/AIDS

- War, natural disasters, epidemics

- Implementation of unlawful behavior;

- Using vehicles while being drunk;

- Participate in activities serving the military, armed forces

- Participation in dangerous sports

-Participate in the illegal aviation activities

- Being kept in the state hospitals.

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