Life Insurance in Vietnam, Buy or not ?

Depend on the each insurance company policy and your financial situation, you can decide to buy which product and at which level of money. However there is 1 big benefit of insurance in general (fire , health, life, etc) is it help to free you from worries if bad thing happen. That's why insurance advertisement always play with your emotion:). However in VN, as far as I know, many insurance company only focus push their sale today and don't invest much into the infrastructure system which may risk our future benefit. So for me, I do buy some small insurance for the emotion benefit as mention above and put the rest of money into other investment channel with higher interest.

Life insurance in Vietnam is the same as it was back in 1950 in Europe, insurers replicate the same because it worked back then for them, sending many many agents selling insurance to their family and neighbours. You don't use post and stamp anymore, you use email, right. They use the stamp. The problem is before you had 1 sales person coming with pain to see you after hours of road to reach you so you had less. Just to get your house address was not easy. Now it is a tsunami of contact fax, email, mobile, sms, ad, spam... The Marketing has not followed the 21st century techniques not to bother people when they are not interested
the product is useful in Vietnam though, every one in Vietnam knows someone who died fairly young of moto accident. If that person bought 10Billion VND of life insurance, the family and children would get those 10Bn VND no problem. It does not replace the family member but it replaces its salary many times...
by the way I sell non-life insurance.

i would not buy because Vietnam insurance policy is not as clear as other countries.

I agree with the opinion below, in Viet Nam we can not find any clearify sectors so that I will not buy life insurance. May be we should find some investment oppotunities better!!!

Under 45 you may not buy insurance before some time! for 2 reasons
1- Insurance is not an investment, it is a protection, it is a pure cost. You cannot make rich from life insurance, if you die, someone else is rich (child, wife, beneficiary)
2- insurance business exist for more than 300 years and it is clearly for people at level 2-3 of the Maslow pyramid. people at level 4-5 need to buy food, then own a home and a car and have enough left over to think about insurance.
In other words, most people dont see the need for protection, because most people are level 4-5 (especially young people they buy and accumulate before they will think about protecting all that richness including their health, most people they never went to the doctor they are young and healthy)
Maslow's Hierarchy of Needs
1 Self Actualization Needs
(full potential)
2 Esteem Needs
(self respect, personal worth, autonomy)
3 Love and Belongingness Needs
(love, friendship, comradeship)
4 Safety Needs
(security; protection from harm)
5 Physiological Needs
(food, sleep, stimulation, activity)