Health & Protection in Vietnam



Vietnam is a long way from home, and this is not the only hardship that your assignment might prove to encounter. Let us walk you through how to prepare your protection in the country, should it be by understanding the insurance market or taking the necessary precautions.

Getting Insurance

Expats who are under a relocation programme to Vietnam usually have the basic type of health coverage from their employer or sponsor. If you have dependents that are not covered by your company or properties that you want to secure, there are also international and local companies that can provide your needs. Expats can choose between a global provider such as Generali Group who offers life, medical, and education insurance and a local company called Bao Viet Insurance Corp., the country’s second largest life and non-life insurer.

The insurance sector in Vietnam is experiencing rapid growth the past few years which means that many companies are sprouting here and there. Expats should make sure that the provider they are dealing with is accredited by the Insurance Supervisory Authority (ISA) which is a section of the country’s Ministry of Finance. It is also the same agency that assists locals and expats with their issues or complaints regarding their insurance providers.


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Importance of Insurance

The goal of many insurance products is to protect the policyholder from potential financial losses. Health insurance, for example, can cover accidents and emergency fees but most importantly, shields your finances from being damaged by hefty hospital costs. Doctor visits, hospitalisation, vaccinations and diagnostic tests can accumulate to a huge amount if you do not have any coverage. Health insurance provides coverage for different health care services that’ll help you stay in good shape and avoid getting serious illnesses.

Expats moving to Vietnam should be aware of its tropical monsoon climate. It means that you will experience flood and heavy rain, especially in the north central and southern regions. Rural houses and concrete buildings can withstand the severe weather, but there is no predicting the level of damage to property caused by these acts of nature. The country’s weather hazards are the reasons why you should get property insurance. This type of policy will allow your assets to be replaced or repaired without you having to worry about the financial costs.

Local Insurance in Vietnam

Vietnam’s insurance industry is making noise as it continues to progress and develop to be a very promising sector. The recent changes in the regulation which allowed foreign insurers to set up branches in the country and provide cross-border policies helped increase the current GDP of the insurance market. With the current growing young and middle-class population, it is for sure that life and non-life insurance products will be more in demand in Vietnam.

All expats working in Vietnam under indefinite contracts or a period of three months and beyond are required by law to contribute to the Social Health Insurance (SHI). Your contributions will be deducted monthly be your employer from your salary which in return, will make you eligible for up to 80% of the country’s health care benefits.

Aside from the state provided medical assistance, expats in Vietnam should also consider getting an international insurance. Depending on your chosen type of policy, international health coverage can give you medical and emergency service anywhere you are in the world. You can also find everything that you are looking for from these multinational companies since their plans are designed to fit the lifestyle and needs of every expat abroad.



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Expat Insurance Services in Vietnam