INSURANCE | Staff Reporter, Vietnam

87.7% in Vietnam covered for health insurance

Vietnam has paid $1.69b worth of insurance benefits in the first two months of 2019.

87.7% of Vietnam’s population, or 83.6 million residents, is already covered by health insurance, reports Vietnam Net Bridge, citing data from Vietnam Social Security (VSS).

The agency also noted that 14.5 million people are covered by compulsory social insurance whilst 280,000 have joined voluntary social insurance. Moreover, 12.73 million workers are shielded by unemployment insurance.

The VSS already paid $1.69b (VND39.25t) worth of benefits for health, social and unemployment insurance in the first two months of 2019.

Prime minister Nguyen Xuan Phuc has approved the plan to push 11% of Vietnam’s population to buy life insurance by 2020. By 2025, the government will target 15% of the population to buy the product.

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