HCMC – Life insurance companies in Vietnam will stop selling a number of existing products from July 1, particularly investment-linked policies and supplementary benefits that do not comply with Government Decree 46/2023.
From July 1, 2025, investment-linked insurance policies will be limited to providing only death and total permanent disability coverage, as stipulated by Decree 46.
They can no longer include add-on benefits, such as accident, critical illness, or hospital expense coverage.
Several insurers, including Chubb Life, AIA, Generali Vietnam, and Dai-ichi Life, have announced the discontinuation of products, such as health insurance, investment-linked insurance, endowment insurance, term life insurance, and supplementary coverage.
For existing policies that remain in effect, companies will continue to fulfill all contractual benefits in line with regulations.
Recently, Chubb Life has announced it will stop offering a wide range of insurance products, including health insurance, investment-linked insurance, endowment insurance, term life insurance, and supplementary insurance.
According to the company, June 30 will be the last day it accepts insurance applications for these products before the discontinuation takes effect on July 1.
Likewise, AIA Insurance will halt the sale of several life insurance products from July 1, including universal life offerings such as An Phuc Tron Doi Uu Viet, Tron Ven Can Bang, Khoe Tron Ven, and the unit-linked product Dau Tu Thinh Vuong.
