Buying insurance out of trust is not enough, you need to understand clearly to be protected at the right time.

Life insurance not only helps many people overcome financial difficulties when they are sick, but also avoids debt due to medical treatment. Although it brings many benefits, it is necessary to understand the product correctly before participating.

Life insurance has become a lifesaver for many families, but it is necessary to understand the product correctly - Photo: HUU HANH

The seminar "Stories behind insurance contracts" was held today, August 7, at the Tuoi Tre newspaper office, a program co-organized by the Vietnam Insurance Association.

Life insurance helps ease the burden of escalating medical costs

As a medical expert, Dr. Nguyen Ngoc Tuan - lecturer of the Department of Orthopedics and Traumatology, Pham Ngoc Thach University of Medicine said that for many diseases, treatment costs tend to escalate, not only due to inflation but also due to the application of many modern medical devices.

Life insurance helps patients feel secure, have the opportunity to choose better treatment methods, and limit financial concerns. Avoid letting patients and their families fall into debt.

Dr. Nguyen Ngoc Tuan - lecturer at Pham Ngoc Thach University of Medicine

"In the field of orthopedic trauma or stroke, modern intervention techniques help save patients' lives in time, but treatment costs can be hundreds of millions or more," said Dr. Tuan.

Health insurance fulfills its mission of serving the common good of the entire population, but cannot cover all costs in case patients use more expensive drugs and services.

At that time, participating in additional life insurance and supplementary health insurance packages will help reduce payment pressure and support additional expenses beyond the scope of health insurance payment.

Dr. Tuan also believes that life insurance also helps people raise their awareness of health care. "People with life insurance contracts often go for regular check-ups and screen for diseases earlier. This is a very remarkable change in thinking," said Mr. Tuan.

When participating in life insurance, you must carefully understand both the benefits and obligations.

Ms. Nguyen Thi Bich Hanh recommends buying life insurance, but must research carefully - Photo: HUU HANH

"I come from a coastal area. As a child, I saw many people die after going to sea. When the ship returned to shore, the fish taken from the boat could be sold, but there were families who lost their brothers and fathers," Ms. Nguyen Thi Bich Hanh shared at the discussion.

When she moved to Ho Chi Minh City to start a business, she and her husband built a small home and bought life insurance for the whole family. "I researched life insurance very carefully and seriously," she said.

Suddenly, during the COVID-19 pandemic, her husband was diagnosed with cancer. "Being isolated and having a psychological crisis, there were times when I wanted to collapse," she recalled. At that time, thanks to life insurance and health insurance that were supported and paid quickly, her husband was able to receive treatment with peace of mind, and the family "didn't have to call this person and that person to sell land at a cheap price, or beg others."

Although he could not overcome his fate, he still passed away peacefully, not leaving a burden on his wife and children, and a part for his mother. For Ms. Hanh, insurance not only solves financial problems, but also shows love and responsibility. Currently, she and her child are living well thanks to the life insurance benefits he left behind, and the child also has the opportunity to go to university.

However, she emphasized: "I know there are many customers out there who do not understand correctly, buying because of trust. But that trust is worthless when it comes to benefits, still as indifferent as usual. It is necessary to participate in life insurance, but you must carefully understand both the rights and obligations. The consultant himself must also be transparent."

As a patient undergoing treatment for kidney cancer, Mr. Nguyen Van Hieu (64 years old) expressed his luck to have life insurance and health insurance to pay together, and to continue living confidently. Regarding this product, he also advised to understand it correctly, to buy reasonably and receive good compensation.

According to the Vietnam Insurance Association, in the first half of 2025, the total life insurance premium revenue of the whole market is estimated at more than 72,090 billion VND, up 2.4% over the same period last year. New exploitation fees alone reached nearly 13,050 billion VND, up 9%.

Mr. Ngo Trung Dung - Deputy General Secretary of the Vietnam Insurance Association - said that currently, legal regulations are increasingly strict and complete, enhancing the protection of the rights of customers participating in life insurance.

Many people are also increasingly interested in insurance products with health care, accident and permanent disability insurance, and choose additional packages to suit their personal needs.

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Source: https://tuoitre.vn/mua-bao-hiem-vi-niem-tin-la-chua-du-can-hieu-ro-de-duoc-bao-ve-dung-luc-20250807115243063.htm