Asia Commercial Bank (ACB) and life insurer Prevoir Vietnam signed a deal Nov. 12 to provide insurance service for those who borrow money with mortgage at the bank for consumption purposes.

The Ho Chi Minh City-based bank plans to make this product available at all branches and transaction offices in the city late this month.

The product is designed for customers aging from 20 to 60. In a case of death or being disabled permanently for any reason, Prevoir Vietnam will pay all the debt to the bank for that customer.

ACB and Prevoir Vietnam has cooperated in introducing different kinds of assurance for the bank’s customers since 2005. So far, more than 12,000 of ACB customers have got insurance coverage from Prevoir Vietnam.