Many people think that buying insurance is a precaution for all possible uncertainty. However, many cases in which the incident occurred were not reimbursed because of contractual exclusions.
Avoid "trap" in the contract
Phan Thi Viet Thu, deputy chairman of HCM City's Consumer Protection Association, said that a case has been dealt with by clients who have covered the provision of cancer compensation. Customers have been diagnosed with breast cancer, the company has refused to pay compensation on the grounds that the contract contains "no compensation for carcinoma cases."
"In fact, this is a cancer on the spot, and surgery and radiotherapy can be cured, but the company uses the term" carcinoma "and the insurer does not know what that term means.
Therefore, customers should request the company to explain all terms containing medical terms or foreign words to protect their interests when the problem occurs, "- Thu advised. .
For life-threatening life-insurance cases, clients are required to provide a family history of illness when signing a contract. If the family has had diabetes or cancer, these conditions are included in the exclusion clause, not compensation.
According to experts, many cases of disputes by the life insurance buyers do not understand clearly but still closed eyes to sign contracts.
Many people are invited by friends and relatives to buy insurance, because the trust should buy without careful review of terms in the contract. When the incident occurs, the disadvantage falls on the buyer.
"Falling into this case, if not proved to have explained and consulted carefully for the consumer, the insurance company must be responsible for as prescribed, the insurance company must provide sufficient information to the person consumption, "Ms. Thu emphasized.
Mr. Ngo Trung Dung, deputy general secretary of the Vietnam Insurance Association (IAV), recommends that new insurers approach the insurance needs to find out carefully to determine their needs and from consulting agents to find the product. appropriate insurance.
"Where there is a problem that the insurance agent does not explain, ask the customer service department of the company to explain.
Insurers should not declare false information about sex, age and medical history because if found, the insurance company can completely refuse to refund when the incident occurs "- Mr. Dung noted.
Select less product exclusion clause
Most insurance products have a lot of exclusion clauses, which are more risky for buyers if they do not understand and do.
According to statistics, on average an accident insurance product and health insurance products have about 20 terms exclusion, the insurance of dangerous diseases have 10-15 exclusion clauses ... not to mention the words The contract is too difficult to understand, even ambiguous that consumers feel puzzled.
Doan Thanh Tuan, deputy head of the Insurance Supervision and Supervision Department of the Ministry of Finance, acknowledged that insurance products are increasingly complex, so the Ministry of Finance has stipulated that insurance companies must provide full information on insurance products. The product must also be illustrated and guided in detail so that the customer can self-assess and understand the product.
For example, with a pension insurance product, customers can calculate their own insurance coverage.
"The Ministry of Finance has specified the process of providing information, consulting products ... or in other words, there are legal adjustments to ensure the legitimate interests of customers, but in practice There are still issues like consumer reflections. In the near future we will overcome these problems.
In cases where the insurance company still deliberately "installs" the clause in the contract mistakenly, when the dispute occurs, the regulator will treat in favor of the consumer. This is a more powerful sanction than administrative punishment, "he said.
According to Anantharaman Sridharan, general director of FWD Vietnam, the reduction of exclusion terms is indispensable because the research results show that the majority of customers feel that insurance contracts are very complicated. They have a sense of lack of faith. As such, FWD has been at the forefront of reducing the exclusion list.
"We have shortened many items that are no longer in line with the current trend. For example, some items have been eliminated as adventure sports: scuba diving, mountain climbing, bungee jumping, "Sridharan said.
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