The various insurance programs for Vietnamese in the US differ in features, operations, and benefits. In this article, Thinksmart Insurance will provide you with information on insurance programs for Vietnamese in the U.S. that you can participate in.
1: TERM LIFE:
Term life is a short-term life insurance program for Vietnamese in the US with program durations typically ranging from 5 to 30 years. This is an affordable insurance program that provides only death benefits, although some companies may offer additional living benefits. This program does not have cash value for retirement.
2: WHOLE LIFE:
Whole Life insurance is a type of life insurance that provides lifelong protection for the policyholder. This program includes all three benefits: death benefits, living benefits, and cash value for retirement. However, the premium payment period is long, the premiums are high, and some companies do not provide living benefits in the Whole Life program.
3: INDEXED UNIVERSAL LIFE (IUL):
Indexed Universal Life (IUL) is the newest insurance program for Vietnamese in the US designed to address the shortcomings of older insurance types. The program offers both death benefits and living benefits, high potential for earnings, retirement savings, and notably, tax-free withdrawals. It also ensures that you do not lose money even in the event of market downturns or recessions. It can be said that IUL is the best and most optimized insurance program available today.
4: KAIZEN:
KAIZEN is a premium insurance programs for Vietnamese in the US designed for individuals with high incomes (minimum net income of $100,000). The program focuses on accumulation and earning for retirement, helping you increase your savings by 60%-100% compared to what you can save on your own. Additionally, the program provides death and living benefits to participants. However, the program has high income and health requirements for participants.
In addition to these insurance programs for Vietnamese people in the U.S., you can also choose to purchase government health insurance programs, including: OBAMACARE, MEDICARE, and MEDICAID.
5: OBAMACARE
OBAMACARE is the Federal Government’s health insurance program for individuals and families with low incomes. It is COMPULSORY for both adults and children and applies to U.S. citizens, lawful permanent residents who have resided continuously in the U.S. for 31 days or more, and those who do not participate may face penalties.
6: MEDICARE
MEDICARE is a federal health insurance program for individuals aged 65 and older or individuals under 65 with disabilities or serious illnesses. The program is divided into parts A, B, C, and D, each covering different healthcare expenses.
7: MEDICAID
MEDICAID is an insurance program for individuals with low incomes (low income). Pregnant women, children, the elderly, and disabled individuals can also enroll in this insurance program. However, the Medicaid insurance package only covers benefits such as hospitalization, doctor visits, prenatal care, immunizations for children, and laboratory tests and X-rays.
These are the insurance programs For Vietnamese In The US. You can explore and choose the most suitable program for yourself and your family. If you want to learn more about these insurance programs, please pick up the phone and call 678-722-3447 to receive advice and answers to your questions from the professional agents at Thinksmart Insurance.
