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Why should you buy Liberty TravelCare insurance?


Although travel insurance is no longer an unfamiliar product to many of us, its importance is not as appreciated as other insurance products such as health insurance, personal accident insurance, etc. However, this insurance product is important for both domestic and international trips. If you have plans to travel this year, join us in learning more about travel insurance in the article below.

1 – Travel insurance acts as a comprehensive protection for you and your loved ones

Travel insurance is a form of insurance that covers losses arising from travel incidents such as accidents, illnesses, passport loss, luggage loss, etc. Hence, travel insurance acts as a comprehensive protection for you in addition to health insurance and personal accident insurance. If the usual health insurance only covers your medical treatments in your area of residence, travel insurance also covers the cost of treatment when you are abroad. With travel insurance, you can still rest assured that your health and safety are fully protected even when you are travelling abroad.

2 – Travel insurance acts as your peace of your mind on every journey


Not only does travel insurance acts as your comprehensive protection, it also acts as your peace of mind on every journey as it exists as your solution for several risks such as:
– Costs related to your delayed or canceled trips
– Costs related to your personal document loss
– Costs related to cases when there is a delay in your luggage delivery, loss of luggage, luggage damage
– Costs related to damage of your house while you are abroad

3 – Why should you buy travel insurance from Liberty TravelCare?


From only $1/day, you can easily protect yourself better with travel insurance. However, among a wide range of travel insurance providers, you should find out as much information as you can in order to choose a reputable travel insurance provider for yourself. Here are a few criteria you should consider if you plan to buy travel insurance:
– Affordable premium costs with high coverage: unexpected accidents or loss can happen any time during your trip. Hence, you should prepare yourself with a travel insurance package that offers high coverage to cope with these unexpected situations. Imagine what you would do if your hospital bill goes up to a few thousand dollars?
– Medical expenses are inclusive: your travel insurance package should cover medical expenses domestically and when you are abroad. It should also cover related fees such as: accommodation costs during treatment, funeral fees, etc. Many insurance providers are also willing to cover the costs of travelling and accommodation for a family member in case you need someone to take care of you.
– Your travel insurance should be applicable in several different countries. Don’t get yourself in the situation when the insurance package you bought is not applicable at the place you will be visiting. To avoid this, make sure you carefully read the list of countries where your travel insurance can be applied to.
– Your travel insurance should protect you from unexpected situations. Loss of personal documents or luggage and delayed flights are problems that can easily occur during trips. Hence, you should always choose an insurance provider that covers these losses for you.
Liberty Insurance is currently one of the most well-known and reputable insurance companies. With more than 10 years of experience, Liberty Insurance is completely capable of giving you the peace of mind that you deserve during your trip. With only $1/person/day, you will be fully protected during your trip with coverage of up to 4 billions VND. Travel insurance packages provided by Liberty Insurance can be bought easily in the Timo app with the following steps:
Step 1: Tap on the Wealth section
Step 2: Tap on Liberty Insurance
Step 3: Choose your destination, departure & return dates and the travel insurance package you want
Step 4: Enter your personal details
If you have plans to travel this year, in addition to preparing yourself with necessary information that you need to know, don’t forget to protect yourself better with travel insurance. If you are a Timo account holder, you should find out more about Liberty Insurance in the Timo app to make your preparation process more convenient.

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Should you buy personal accident insurance?

Should you buy personal accident insurance even when you already have health insurance and motorbike insurance? We will help you to answer the above question in the following article.

What is the role of each insurance type?

Health insurance: When you have health insurance, a part of your medical treatments will be paid by the insurance provider. Health insurance is provided to protect its participants from financial reserves arisen from inpatient and outpatient treatment.

Motorbike insurance: This form of insurance provides financial protection in cases of accidents and damages happening to those who own and use motorbikes as a means of support. Motorbike insurance also includes liability insurance in case you are liable for injury or property damage caused to any third party.
Personal accident insurance: This insurance type is provided to protect your health and safety. Accident insurance will cover expenses such as emergency treatment, physical examinations, hospitalization expenses and other costs such as travel costs.

Should you buy personal accident insurance in addition to health insurance and motorbike insurance?


Although many of us are equipped with health insurance and motorbike insurance, however, these two types of insurance have several limitations when accidents occur.
Health insurance only covers costs associated with the use of medicines and treatment regimens included in the insurance list. Even when you have health insurance, you would still have to pay for medical expenses that are not included in the insurance coverage. On the other hand, motorbike insurance only covers situations where you are responsible for injury and property damage caused to a third party.
With complicated traffic situations and expensive medical expenses in Vietnam, health insurance and motorbike insurance are not enough to fully protect yourself from every potential risk and accident that can occur on the street. Therefore, protecting yourself with personal accident insurance in addition to health insurance and motorbike insurance will help to overcome the above limitations and minimize the effects of potential risks. Personal accident insurance will help to pay for expenses that are not fully covered by health insurance. In cases the insured participants pass away, the entire amount of money would still be returned to the relevant beneficiary.

Personal accident insurance from Sun Life


To bring you peace of mind and protect you from potential risks and accidents, personal accident insurance from Sun Life offers several benefits, including:
– Affordable fee from 450 VND to 1.300 VND/day
– Protect the insured parties 24/7 for 365 days from the day the insurance is purchased
– Cover up to 600 millions VND for motorbike accidents and up to 300 millions VND for other accidents  
– Cover up to 300.000 VND/day for medical cost support for hospitalization due to accidents
Sun Life offers 3 different personal accident insurance packages to meet different needs and budget, including: Value Package, Pro Package and Smart Package. If you are a Timo cardholder, you can easily buy your personal accident insurance package online right in the Timo app.
It is never too early to start an investment in your health and safety. With the right personal insurance package, you can proactively manage your financial situation in every potential accident that can occur. Hopefully this article will help you to make the right choice for yourself.
 

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Travel everywhere with Timo Mastercard and Liberty Insurance

The preparation process is significantly important to organize a memorable holiday with your family, friends or loved one. A holiday with no financial problems and unexpected issues needed to be addressed will surely be more of a pleasant experience to anyone. If you are planning an overseas trip this upcoming summer, don’t forget that Timo can help you to prepare for your trip better.
Find out how Liberty Insurance and Timo Mastercard can help you have more of a safe and pleasant trip in the following article.

1/ Protect yourself with travel insurance from Liberty Insurance

In the process of planning and preparation, one of the things you need to think about is how to prevent and solve potential risks and issues. Luggage loss, illness, loss of money or personal documents are a few incidents that may occur during your overseas trip. With the support and protection of travel insurance, these incidents can easily cause dramatic financial losses.
Therefore, before packing your suitcase, get yourself and your love one a prestigious and trusted travel insurance package to prevent those potential incidents. With a goal to provide you with trustworthy products and a high degree of convenience, we partner with Liberty Insurance you the peace of mind you deserve on every overseas trip.

To make it easier for you to choose a travel insurance package suitable for your financial ability, Liberty TravelCare insurance is divided into 3 packages, including: Classic, Executive and Premier. Although they are 3 different packages, they all bring comprehensive protection against such risks as:
Overseas and local medical treatment expenses for illnesses and accidental bodily injuries
Overseas compassionate visit
Trip cancellation or postponement
Loss of or damage to baggage or personal effects
Loss of money or travel documents
Loss of or damage to the household contents in Vietnam residence due to fire
Qualification criterias to apply for Liberty Insurance are pretty simple as they are applied for all Timo cardholders. As long as you are a Vietnamese National or a foreigner with a valid residence card in Vietnam and are not over 75 years of age, you can buy whichever travel insurance package you want right in the Timo app.
Find out more about Liberty Insurance here.

2/ Apply for a Timo Mastercard to enjoy a cashless holiday

To enhance your peace of mind during the upcoming overseas holiday, besides getting travel insurance, get yourself a multifunctional credit card to enjoy a cashless holiday. Owning a credit card means you will not need to worry about bringing as much physical cash with you and having to be cautious about it all the time.

If you are already a Timo customer, don’t forget that you can apply for a Timo Mastercard for your upcoming trip right in the app. For those who are unsure that they can be qualified for a Timo Mastercard through another existing credit card or opening a Term Deposit of 20 millions VND, you can start maintain an average balance in your Timo Spend Account to be qualified for your Timo Mastercard. Specifically, to qualify, you need to maintain an average balance of 2 millions VND over the nearest 3 months. Hence, to get a credit card for your summer holiday on August, you need to start maintaining your Spend Account balance now or at the beginning of April at the latest.
Learn more about qualification criterias for Timo Mastercard here.
Owning a credit card also means that you will not need to gather a lot of money for your upcoming trip as the credit limit of Timo Mastercard can get up to 100 millions VND. Equally, you can also enjoy your holiday more without having to worry that the more transactions you make with your card, the higher the interest you will have to pay. This is because your first 44 days of spending with Timo Mastercard is completely interest fee. Additionally, the first annual fee associated with your Timo Mastercard will also be free after you have 3 transactions of 300.000 VND each made within 30 days of card issuance.

As you can see, Liberty Insurance and Timo Mastercard can easily be applied for right in the Timo app. We bring these convenience to you so you can easily have the right tools and support you need for your upcoming overseas trips. Give yourself a cashless holiday and don’t forget to protect yourself & your loved ones against potential risks to have more of an unforgettable trip.


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How to start a savings habit?

The beginning of the year is the period of time that gives you the most inspiration and energy to start putting your New Year’s Resolutions into actions. Is saving money one of your New Year’s resolutions? How can one start an effective savings habit? Below are some tips and suggestions on how you can get started for the New Year.

1. Evaluate your previous year’s expenses

Changing your savings habit is not as challenging as you may think, as you can easily start by making a list of personal income and monthly expenses. Once your list is created, differentiate your expenses into 2 categories – high priorities and low priorities. Your high priorities should include expenses used for house rent, mortgage payment, monthly bills such as electricity, water, etc. Money used for shopping, eating and entertainment should be allocated in low priorities. Differentiating your expenses can be a key to help you save money effectively. For instance, cutting down money spent on buying take-away coffee everyday and eating out at restaurants 3 times per week will help you to save a significant amount of money.

2. Cut down on your monthly expenses

Besides cutting down expenses used for low priorities, don’t forget to evaluate your high priorities list as well. Monthly expenses such as electricity, water, gas, etc. can also be cut down to help you save more effectively. Although they are irreplaceable needs, you can still reduce costs by using them more economically and smartly. Here are a few things you can do:

  • Use energy saving light bulbs, water heaters, etc.
  • Replace your cable TV package with a more affordable one
  • Clean your air conditioner and start using it on power saving mode

3. Clear debts of previous year

Besides cleaning the house, you also should clean up debts of the previous year to welcome a prosperous new year. In particular, interest-bearing debts always need to be prioritized to avoid increased interest rates and late payment fees. Plan a periodical repayment timeline to manage your debts effectively. Strive for a new year without debt by cleaning up all your remaining debts!

4. Start saving to generate profit for the New Year

What are you planning to do with the amount of money you have managed to save for the previous year? Have you thought about putting this amount of idle money into work and start generating profit from it?

If you have a Timo account, you should put your savings into a Term Deposit instead of keeping it in your Spend Account. With only a few swipes and taps, you can own a savings account with an attractive set of interest rates – from 5.3 to 7.6% per year. While you can start opening a Term Deposit at only 1.000.000 VND, depending on the money you put in your Term Deposit, you will be suggested to split the amount into smaller accounts to minimize the loss of interest in cases when you need to withdraw some of your savings ahead of time.

  • Important notes:

    From 5th July 2019, foreign nationals are no longer eligible for Goal Save Accounts as stated in Circular no. 48/2018/TT-NHNN. For Term Deposit Accounts, foreigners with a valid document proving residential status in Vietnam with at least 6 months validity will be eligible to open Term Deposit Accounts with a Term NOT greater than the remaining of its validity. Existing Term Deposits opened before 5th July 2019 will be continued until its maturity.

    Read the official announcement

5. Use Goal Save to achieve your goals

In addition to Term Deposit, use flexible savings tools to achieve your short-term goals.

If you have a Timo account, you can easily do this with our smart savings feature – Goal Save. With Timo Goal Save, you can create inspirational names for your savings such as “Travelling around South East Asia” and set up your own automatic recurring contribution timeline. However, this is entirely flexible as you can also contribute money into your Goal Save manually, change your target date or target amount anytime you want.

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3 reasons why you should have personal accident insurance in Vietnam

Instead of struggling to face unexpected situations, why don’t we start the New Year by proactively preparing ourselves with a backup plan to enjoy life peacefully? Below are 3 main factors worth your consideration before you decide that buying personal accident insurance in Vietnam is not necessary.

1. Give yourself the peace of mind you deserve

According to the National Traffic Safety Committee, there were approximately 13,242 traffic accidents that lead to 6,012 people killed and 10,319 people injured in the first 9 months of 2018 in Vietnam. More recently, during the 2019 New Year’s Holiday, there were 147 road and rail traffic accidents, leading to 110 people killed and 61 people injured across the country.
The benefits of personal accident insurance will never be fully seen in the present as it is more of a provision for future in the event of unexpected situations. However, buying personal accident insurance also means that you allow yourself the peace of mind you and your loved ones deserve. Besides traffic safety issues, petty theft and violence has been increasing in the mass media and around you. Personal accident insurance will help you and your loved ones reduce anxiety and worry from all these unstable issues and unexpected risks since personal accident insurance means that you have at least prepared yourself with a proactive provision.

2. Reduce the potential financial burden of unexpected situations

In addition to the potential physical and mental injuries after every accident, the victims and their relatives usually must bear a significant fee for treatment, medicine, daily living expenses in case the victim is a breadwinner and more. This is where personal accident insurance would come in handy as health insurance usually does not cover it all. In the worst case scenario, if the insured person passes away, the sum of the personal accident insurance will partially facilitate the financial burden and temporarily balance the daily living expenses of the victim’s family.
Understanding the needs of customers and the importance of personal accident insurance, many related insurance products have been offered in the market to become a financial fulcrum and protect families against unforeseen risks. One of the most outstanding accident insurance products in the market is personal accident insurance provided by Sun Life Financial. Sun Life’s personal accident insurance packages offer coverage up to 600 million VND for motorbike accidents and up to 300.000 VND/day for hospitalization fees.

3. Social insurance and health insurance are not enough

Health insurance is the type of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. Therefore, health insurance only covers services, treatments and medicines included in the insurance benefits, meaning that patients would still have to pay for costs of things that are not included in their health insurance benefits. Health insurance is a basic and necessary insurance for everyone but not enough for your full protection because of the above limitations.
These limitations are the reasons why personal accident insurance will contribute to reduce the potential financial burden of unexpected risks and accidents. Personal accident insurance can help you to pay for expenses that are not fully covered by health insurance. In case the insured victim loses their life, the entire amount would still be returned to their relatives or beneficiary.

There are currently a wide range of personal accident insurance packages in the market that come with reasonable fees and quịck registration procedures. If you are a Timo cardholder, you can register online for a personal accident insurance package provided by Sun Life via the Timo app in just a few taps and swipes.

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