Reader NBDT shared that he had purchased a life insurance contract from an insurance company since mid-2024. At the end of 2024, customer T. had an unexpected burn accident and was compensated by the insurance company under the contract terms.

After being discharged from the hospital, the customer requested all required documents and completed them on May 29, 2025.

Since then, nearly 3 months have passed, and customer T. has requested the insurance company to compensate according to the contract, but has only received the answer that they will have to wait a little longer. The reason is that the company is waiting for a response from the authorities.

Readers want to ask the Department of Insurance Management and Supervision ( Ministry of Finance ) whether insurance companies can arbitrarily extend the time without the consent of the insurance buyer?

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Insurance fraud is showing signs of increasing again.

Sharing about this issue on the Information Portal, the Ministry of Finance said that Clause 1, Article 31 of the Law on Insurance Business No. 08/2022/QH15 stipulates the time limit for compensation and insurance payment as follows: When an insurance event occurs, the insurance enterprise or branch of a foreign non-life insurance enterprise must compensate and pay insurance money according to the time limit agreed in the contract.

In case there is no agreement on the time limit, the unit must compensate and pay insurance money within 15 days from the date of receiving complete and valid documents.

In response to the customer's question, the insurance company representative replied: The customer's case "showed unusual signs related to a burn accident".

Therefore, to ensure that the payment decision is correct, fair and in compliance with regulations, the company is working with the authorities to collect information and needs more time to verify. While waiting for the results, the company cannot make a final decision.

According to the agreement in the contract signed with the customer, in case the insurance benefit has been approved but the payment is delayed for more than 30 days from the date of receiving the complete documents, the customer will be added interest calculated according to the advance interest rate announced on the company's website.

Recently, insurance fraud has shown signs of increasing again, with diverse scenarios. In particular, focusing mainly on two situations: burns and broken bones.

Most recently, a customer in Nha Trang requested two insurance companies to pay for a burn accident with an amount of more than 11 billion VND.

According to the Vietnam Insurance Association, profiteers create medical records for different groups of diseases, commonly: groups of diseases with high benefit payment rates such as burns ( Yen Bai , Thai Nguyen), bone fractures (Nghe An), abscess extraction/drainage (Hanoi, Thai Nguyen); laryngoscopy/gastric endoscopy (Ca Mau, Hanoi); common groups of diseases requiring long-term inpatient treatment such as poisoning, enteritis, stomach pain/ulcers (Thanh Hoa, Phu Tho).

Law amendment: Ministry of Finance only conducts specialized inspections, no longer inspects insurance The Ministry of Finance no longer has the function of inspection but only conducts specialized inspections in the insurance business sector, according to the proposal in the draft Law amending and supplementing a number of articles of the Law on Insurance Business.

Source: https://vietnamnet.vn/luu-y-ve-thoi-han-chi-tra-quyen-loi-bao-hiem-2436639.html