Can Indian Expats Buy Dai-ichi Life Insurance in Vietnam? Full Cost & Service Guide

Part 1: The Eligibility Question – Can You Buy It?

This is the primary concern for most expats. After analyzing the market and recent product launches, here is the current status regarding Indian expat Dai-ichi Life Vietnam eligibility.

The Official Stance: No Explicit Exclusion

Search results and official documentation from Dai-ichi Life Vietnam do not explicitly state that foreigners are barred from purchasing policies . Unlike government social insurance programs (which are strictly for Vietnamese citizens), private life insurance contracts in Vietnam are generally available to anyone legally residing in the country.

However, there is a critical distinction to understand: Residency vs. Citizenship.
While Dai-ichi Life Vietnam does not discriminate based on nationality (Indian, Korean, American, etc.), they do assess your residency status. To successfully underwrite a policy:

• Valid Visa/TRC: You must have a valid work permit or Temporary Residence Card (TRC). Policies are typically sold to individuals living in Vietnam for the long term.

• Insurable Interest: You must have a financial presence in Vietnam. If you are just transiting, you will likely be rejected.

Verdict: Yes, you can buy it. There is no policy barring Indian nationals. However, your application strength depends heavily on your visa duration .

The "India Connection" Advantage

Interestingly, Dai-ichi Life also operates in India (as Dai-ichi Life India). While the Vietnamese arm is a separate entity, the brand recognition works in your favor. When approaching an agent, mentioning your familiarity with the Dai-ichi brand from India can establish immediate trust .

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Part 2: Products Available to Expats

If you are eligible, what exactly can you buy? Dai-ichi Life Vietnam is primarily a life insurance provider, meaning their strength is in long-term protection and savings, though they have recently expanded aggressively into health .

1. Term Life Insurance (Pure Protection)

This is the most straightforward product for expats who want to ensure their dependents are covered if something happens to them. It pays a lump sum upon death or total permanent disability.

• Best For: Breadwinners with families back in India or living with them in Vietnam.

• Term Length: Typically 10-25 years.

2. Whole Life & Endowment (Savings + Protection)

These plans combine life coverage with a savings component. They are more expensive but act as a wealth accumulation tool. Many Indian expats use these to save for their children’s education—either at international schools in Vietnam or for future university fees in India.

3. Critical Illness (Dread Disease Rider)

A must-have for expats. This provides a lump sum cash benefit upon diagnosis of conditions like cancer, heart attack, or stroke. Healthcare in Vietnam is improving, but the financial drain of a major illness can be devastating .

4. Global 24/7 Health Insurance

This is the newest and most relevant product for Indian expats.
In late 2024, Dai-ichi Life Vietnam launched a Global 24/7 Health Insurance product. This is significant because it moves beyond traditional life insurance into comprehensive medical expense coverage .

• Coverage Limit: From 150 million VND to 2 billion VND per illness/injury.

• Age Range: 30 days to 75 years old (renewable).

• Inpatient/Outpatient: Covers hospital stays, emergency, ambulance, cancer treatment, and organ transplants.

• Hospital Guarantee: Direct payment guarantee at nearly 280 medical facilities both in Vietnam and internationally.

Why this matters to you: As an Indian expat, you no longer need to juggle an Indian health policy and a Vietnamese policy. This product is designed for global mobility.

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Part 3: The Cost Breakdown (2025 Pricing)

Let’s talk numbers. The cost of insurance in Vietnam is significantly lower than in Singapore or Hong Kong, but slightly higher than pure local Vietnamese companies due to the service standards of a Japanese brand.

Here is the estimated pricing for Dai-ichi Life Vietnam in 2025, converted to USD for your reference .

Insurance Type	Monthly Premium (VND)	Monthly Premium (USD ~25,500)	Target Age
Term Life Insurance	400,000 – 1,500,000	$16 – $59	25-45
Whole Life Insurance	1,000,000 – 3,000,000	$39 – $118	25-50
Critical Illness (Rider)	500,000 – 1,500,000	$20 – $59	30-60
Global 24/7 Health	Varies by package (Bao to Prosperity)	Estimated $50 - $250+	All Ages

Factors That Affect Your Premium as an Indian Expat

1. Age: The most significant factor. A 35-year-old will pay roughly 40% more than a 30-year-old for the same term life coverage.

2. Smoking Status: Vietnam has a high rate of smoking. If you are a non-smoker, you will receive a "preferred" rate.

3. Sum Assured: For the Global Health plan, coverage up to 2 billion VND is available, but premiums scale accordingly .

4. Medical History: Dai-ichi is known for thorough underwriting. If you have pre-existing conditions, you may face a premium loading or exclusion.

Is it expensive?
Compared to term plans in India (e.g., Aegon Life or ICICI), these rates are slightly higher. However, they offer the distinct advantage of payout in Vietnam and coverage for the Vietnamese healthcare system, which Indian policies often restrict or limit for international claims.

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Part 4: Services and Customer Experience

For the discerning Indian expat, service quality is just as important as the premium. How does Dai-ichi Life Vietnam treat foreign clients?

Language Support: The Critical Factor

The biggest challenge for expats is the language barrier.

• Agents: Dai-ichi operates heavily through a tied agency force . While most agents speak Vietnamese, the company has a dedicated network in expat-dense areas (District 2, Thao Dien, Phu My Hung). You must request an English-speaking advisor. They exist, but you need to explicitly ask the branch manager.

• Contracts: Standard contracts are in Vietnamese. Under Vietnamese law, the Vietnamese contract is the legally binding document. Ensure you request a bilingual comparison sheet or an official translation appendix to avoid surprises at claim time.

Digital Ecosystem

This is an area where Dai-ichi is catching up. While competitors like Manulife have heavily invested in apps and e-doctor services, Dai-ichi is building its ecosystem .

• Online Payments: You can pay premiums via bank transfer or through major Vietnamese banking apps (Techcombank, VPBank, etc.).

• Portal: They offer a customer portal to check policy value, though full mobile functionality is still in development.

Claim Settlement Reputation

Dai-ichi Life Vietnam scores highly (84% in independent reviews) for financial stability and professionalism . As a subsidiary of a top-3 Japanese life insurer, they have the capital reserves to pay large claims. This is crucial for expats—you don't want to worry about the solvency of your insurer.

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Part 5: Step-by-Step – How to Apply as an Indian Expat

If you are ready to proceed, follow this specific workflow tailored for foreigners:

Step 1: Document Preparation
Unlike Vietnamese citizens who can use ID cards, you will need:

• Passport (with valid visa/TRC).

• Proof of residence (Electricity bill or rental contract in your name).

• Entry and exit history (to prove time spent in Vietnam).

Step 2: Medical Underwriting
For coverage above certain thresholds (or for applicants over 45), a medical check-up is required. Dai-ichi partners with clinics like Diag or CarePlus. The insurer usually covers the cost of this check-up.

Step 3: The Proposal Form
Do not rush this. If your Vietnamese is not fluent, have the agent write the answers in Vietnamese and read them back to you in English. Ensure the Beneficiary Nomination is clear. You can nominate your parents in India, but legally, sending money across borders upon a claim requires paperwork. Many expats nominate their spouse (if residing in Vietnam) for ease of payout.

Step 4: Payment Setup
Set up an auto-debit from your local Vietnamese bank account. Paying in VND avoids forex markups .

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Part 6: What the Search Results DON’T Tell You (Critical Gaps)

While the search results confirm product availability and pricing, they do not explicitly cover the "Indian expat" angle . Here is the reality check:

The "30-Day" Rule for Health Insurance
If you are looking at the new Global 24/7 Health product, be aware that pre-existing conditions are typically not covered for the first 365 days, and general sicknesses have a waiting period of 30 days . If you are arriving from India and need immediate coverage for a sore throat or flu, you will pay out of pocket for the first month.

Tax Implications
The search results mention tax relief in Myanmar , but in Vietnam, life insurance premiums are paid with post-tax income. There is no tax deduction for premiums like there is in India under Section 80C. However, the payout of a life insurance sum assured to your beneficiary is 100% tax-free in Vietnam.

Residency Cancellation
If you leave Vietnam permanently (end of contract), what happens to your policy? Most plans allow you to continue paying premiums from abroad, but the Global Health plan requires you to be primarily residing in Vietnam. If you move back to India permanently, you may need to switch your coverage or let the policy lapse.

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Part 7: Comparison – Should You Buy Local or Keep LIC?

Many Indian expats face this dilemma.

Keep LIC/Indian Policy:

• Pros: Familiarity, family handles paperwork easily, INR currency.

• Cons: Settlement requires sending money abroad (FEMA regulations), claims assessment is done in India, no coverage for Vietnam-specific medical inflation.

Buy Dai-ichi Life Vietnam:

• Pros: Local currency payout (fast), covers local healthcare costs, no forex risk, covers you against risks in Vietnam (traffic accidents, tropical diseases).

• Cons: New relationship, must manage documents in Vietnamese.

Verdict: Do not cancel your Indian policy. However, supplement it with a Dai-ichi Life Vietnam term plan. This diversifies your currency risk and ensures your family in Vietnam has immediate cash if something happens while you are stationed here.

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Conclusion: Is It Worth It for Indian Expats?

To answer the question directly: Yes, Indian expats can purchase Dai-ichi Life Vietnam insurance, and they absolutely should consider it—specifically the Term Life and the new Global 24/7 Health products.

While the premiums may be marginally higher than domestic Vietnamese insurers or pure online plans, the financial backbone of the Dai-ichi Group and the recent expansion into high-limit global health coverage makes it a superior choice for the foreign professional.

The Action Plan:

1. Do not apply online blindly. Visit a Dai-ichi Life Vietnam office in Binh Thanh or Hanoi.

2. Request an English-speaking Financial Consultant. If they say none are available, ask to speak to a Sales Manager.

3. Lead with the Global 24/7 Health product for medical coverage and add a Term Life rider for family protection.

By integrating into Vietnam’s financial protection system, you aren't just buying insurance—you are committing to the country you are currently calling home.