Deputy Prime Minister said about buying insurance "paying is easy, withdrawing is very difficult"

(Dan Tri) - Delegate Nguyen Thanh Hai reflected the opinions of voters about buying insurance, but "it is easy to pay in, but very difficult to withdraw". Many people are so discouraged that they accept to lose the money they have paid.

On the morning of November 3, National Assembly deputies discussed in groups two draft laws, including the Law on amending and supplementing a number of articles of the Law on Insurance Business, after listening to the presentation in the hall.

Giving comments at the group, Vice Chairwoman of the Law and Justice Committee Nguyen Thi Thuy pointed out the shortcomings related to life insurance contracts. She said she had borrowed a number of insurance contracts from different companies for research, but for someone with experience in law, reading them was still "really difficult to understand".

Vice Chairwoman of the Committee on Law and Justice Nguyen Thi Thuy (Photo: Hong Phong).

According to Ms. Thuy, each insurance contract is several dozen pages long with many specialized terms about finance and insurance. Because it is difficult to understand, insurance buyers often entrust their trust to the team of consultants, often their friends and acquaintances.

From practical inadequacies, Ms. Thuy suggested that when amending this law, it is necessary to pay more attention to regulations related to the content of life insurance contracts; in which, in addition to the requirement to ensure absolute honesty, it is necessary to add the principle of transparency of insurance contracts.

From the principled regulations, according to Ms. Thuy, the Ministry of Finance can be assigned to provide detailed regulations to design the contents of life insurance contracts and insurance companies can comply with them, in order to ensure the rights of insurance participants.

Regarding insurance agents and consultants, the Vice Chairman of the Law and Justice Committee has non-specific consultants, so when disputes arise, the customer is often the one who loses.

Chairman of the Committee for Science, Technology and Environment Nguyen Thanh Hai shared that although she had never bought insurance, she had borrowed a number of insurance contracts for research, because she heard many complaints from voters about the situation of "it is easy to put money in but very difficult to withdraw it".

Many people are even discouraged by having to follow the terms of the contract with its lengthy appendices, so they accept losing the money they have paid.

Chairman of the Committee on Science, Technology and Environment Nguyen Thanh Hai (Photo: Hong Phong).

“We often do research and legal work, but reading and understanding insurance contracts is very difficult. Therefore, the revised law must clarify the principle of “paying and receiving” and the benefits must be easy,” Ms. Hai stated her opinion.

The Chairman of the Committee on Science, Technology and Environment also suggested that a general insurance contract model should be approved by competent authorities. This model should be made public and all insurance companies must comply. “For example, a 100-page contract must have 40-50 pages with common standards, only differing in subjects and contribution levels. This will minimize risks so that when a dispute occurs, there is no need to discuss the general part, only the individual parts related to each subject need to be discussed,” Ms. Hai suggested.

Speaking to explain and clarify some issues raised by delegates regarding life insurance contracts, Deputy Prime Minister Ho Duc Phoc said that this is a type of conditional business insurance that must be licensed. Therefore, the Insurance Law has a provision for economic contracts.

The basic contents of economic contracts designed when licensed, for example health insurance, pension insurance, life-related insurance, will be examined by the Insurance Management and Supervision Department.

Deputy Prime Minister Ho Duc Phoc speaks at the discussion session (Photo: Hong Phong).

Regarding the question of why a model contract is not prescribed, Mr. Phuc explained that if a model contract is prescribed, it will reduce the flexibility of companies, especially foreign companies.

Regarding the speed of withdrawing money, the Deputy Prime Minister shared that he used to participate in insurance and registered to withdraw immediately, when the term expired, the companies had to pay.

With this law amendment, the Deputy Prime Minister emphasized that we must be very certain and cautious with the ultimate goal of ensuring transparency, avoiding insurance fraud or profiteering, and protecting the rights of insurance participants.

Source: https://dantri.com.vn/thoi-su/pho-thu-tuong-noi-ve-viec-mua-bao-hiem-dong-tien-thi-de-rut-ra-rat-kho-20251103111451098.htm