Instead of struggling to face unexpected situations, why don’t we start the New Year by proactively preparing ourselves with a backup plan to enjoy life peacefully? Below are 3 main factors worth your consideration before you decide that buying personal accident insurance in Vietnam is not necessary.
1. Give yourself the peace of mind you deserve
According to the National Traffic Safety Committee, there were approximately 13,242 traffic accidents that lead to 6,012 people killed and 10,319 people injured in the first 9 months of 2018 in Vietnam. More recently, during the 2019 New Year’s Holiday, there were 147 road and rail traffic accidents, leading to 110 people killed and 61 people injured across the country.
The benefits of personal accident insurance will never be fully seen in the present as it is more of a provision for future in the event of unexpected situations. However, buying personal accident insurance also means that you allow yourself the peace of mind you and your loved ones deserve. Besides traffic safety issues, petty theft and violence has been increasing in the mass media and around you. Personal accident insurance will help you and your loved ones reduce anxiety and worry from all these unstable issues and unexpected risks since personal accident insurance means that you have at least prepared yourself with a proactive provision.
2. Reduce the potential financial burden of unexpected situations
In addition to the potential physical and mental injuries after every accident, the victims and their relatives usually must bear a significant fee for treatment, medicine, daily living expenses in case the victim is a breadwinner and more. This is where personal accident insurance would come in handy as health insurance usually does not cover it all. In the worst case scenario, if the insured person passes away, the sum of the personal accident insurance will partially facilitate the financial burden and temporarily balance the daily living expenses of the victim’s family.
Understanding the needs of customers and the importance of personal accident insurance, many related insurance products have been offered in the market to become a financial fulcrum and protect families against unforeseen risks. One of the most outstanding accident insurance products in the market is personal accident insurance provided by Sun Life Financial. Sun Life’s personal accident insurance packages offer coverage up to 600 million VND for motorbike accidents and up to 300.000 VND/day for hospitalization fees.
3. Social insurance and health insurance are not enough
Health insurance is the type of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. Therefore, health insurance only covers services, treatments and medicines included in the insurance benefits, meaning that patients would still have to pay for costs of things that are not included in their health insurance benefits. Health insurance is a basic and necessary insurance for everyone but not enough for your full protection because of the above limitations.
These limitations are the reasons why personal accident insurance will contribute to reduce the potential financial burden of unexpected risks and accidents. Personal accident insurance can help you to pay for expenses that are not fully covered by health insurance. In case the insured victim loses their life, the entire amount would still be returned to their relatives or beneficiary.
There are currently a wide range of personal accident insurance packages in the market that come with reasonable fees and quịck registration procedures. If you are a Timo cardholder, you can register online for a personal accident insurance package provided by Sun Life via the Timo app in just a few taps and swipes.