Pacific Cross Vietnam
Pacific Cross Vietnam (PCV) was an early player in Vietnam health insurance starting in 2003 partnering with a local insurer, now replaced by Hung Vung insurance ‘fronting’ them for regulatory reasons with the ministry of Finance.
Their head office is Pacific Cross Hong Kong, a specialist in health cover for Expatriates. As such they developed a range suitable for the locals and ‘localized’ expats, in health and travel insurance.
Their range of products abide by Vietnamese laws and insurance practices. Due to their design for clients resident in Vietnam, the plans are not suitable to international people relocating in need of worldwide service and reliable compliance.
Overall Insurance Rating
PCV-Hung Vung is registered with the Ministry of Finance of Vietnam who do not have specific insurers laws and regulations protecting the clients. In other words, the renewal is not guaranteed under the same terms and conditions should the insurer pay a lot in claims for yourself or your family.
Due to their ‘affordable price policy’, their offering has basic benefits that any expat needs so you don’t have to pay for ‘bells and whistles’. The limits and sub limits are suitable for treatments to a medium high range of Asean hospitals. Therefore one should seek professional advice on treatment prices evolutions compared to the benefits and exclusions. Note that their limits are per illness as opposed to per year limit. In other words, the limits are not reset every year at renewal, we witnessed some cases where the limit of $200,000/illness was reached for treatment of lung cancer over 3 years. They offer worldwide treatment cover.
As PCV wants to follow the nascent Vietnamese market needs, they have developed flexibility so that new categories of Expats and locals can afford à certain level of health insurance cover to access the good hospitals and clinics in Vietnam.
Pricing is competitive or below the market to pay for the base protection. Now those price can vary hugely at renewal, depending on the medical treatment costs they paid for your family.
PCV has developed the largest network of cashless direct billing clinics. As their pricing policy implies more attentive claims scrutiny before paying, which can lead to delays on ‘pay then claim later’ situations.
Ideal Client Profile
The range of products are for clients willing to get a good level of coverage at an affordable price and who may have a ‘safety net cover’ back home in case of chronic condition.
The Foundation series is a very flexible (you can mix and match 8 options of cover) and affordable plan for VN residents willing to get treatment at the best Vietnamese private hospitals.
The Master series.
Bon voyage travel plan for Vietnamese abroad. Expats may find service and limits for cover abroad too limited.