Get Quotes from Military Insurance Corporation

Military Insurance Corporation (MIC) is one of Vietnam’s top non-life insurance companies, backed by the Ministry of National Defense. With a growing presence in both civilian and government sectors, MIC offers a wide range of health, motor, property, and travel insurance products — built on a foundation of reliability, trust, and affordability.

⭐ Overall Score: 4.0/5

✅ Pros of Military Insurance Corporation (MIC)

  1. Strong Government Backing
    As a member of the Ministry of Defense’s ecosystem, MIC enjoys high trust, financial stability, and widespread access to official and civilian networks.

  2. Wide Range of Insurance Products
    MIC offers health, motor, property, accident, marine, and travel insurance — serving individuals, families, businesses, and government units.

  3. Affordable Premiums
    Competitive pricing, especially in motor, health, and travel insurance, makes MIC a smart choice for cost-conscious customers.

  4. Nationwide Branch Network
    MIC has over 80 branches and transaction offices across Vietnam, ensuring excellent accessibility in both urban and rural areas.

  5. Quick Claims for Motor & Property Insurance
    Known for fast and straightforward claim processes, especially in auto, fire, and home insurance.

❌ Cons of Military Insurance Corporation (MIC)

  1. Limited Life Insurance Options
    MIC focuses on non-life insurance — those looking for life, education savings, or critical illness coverage will need to consider other providers.

  2. Less Digital Integration
    Online tools and mobile app services are still basic compared to tech-driven competitors like Manulife or AIA.

  3. Conservative Marketing & Visibility
    Despite its strong backing, MIC’s brand awareness is lower in the private insurance market compared to high-profile names like Prudential or Chubb.

💰 MIC Insurance Pricing Overview (2025)

Insurance Type Estimated Premium (Monthly) Target Group
Health Insurance 200,000 – 900,000 VND Individuals/Families
Motor Insurance 300,000 – 1,000,000 VND Vehicle Owners
Property Insurance 500,000 – 2,000,000 VND Homeowners/SMEs
Travel Insurance 100,000 – 250,000 VND Tourists/Students

Prices vary depending on age, property value, and policy terms.

📊 Who Should Consider MIC Insurance?

  • Government employees and military personnel seeking trusted, low-risk coverage

  • Vehicle and property owners looking for affordable, fast claims

  • Rural and suburban customers needing accessible, localized insurance services

  • Families needing basic health or accident protection with nationwide support

📝 Final Verdict

Military Insurance Corporation (MIC) is a strong contender in Vietnam’s non-life insurance sector, known for its government-backed stability, broad product range, and competitive pricing. While it lacks life insurance and digital conveniences, MIC is ideal for customers who value reliability, local access, and simple protection plans.

Get Quotes from Military Insurance Corporation