Aia Insurance

[eladblum]

An AIA insurance salesman came to my house that other day and offered a health insurance and a savings program that not quite looks real.

1. savings program - pay about 25,000 per year. after 7 years you have 400,000(???)

2. Health insurance - covers everything - pay about 10,000 per year. and listen to this: you can quit any year and get your money back! even if you were sick and needed medical treatment through all that time!

Is he pulling my leg? or is this dreamland?

[ThaivisaInsurance]

Unfortunately what you were told is too good to be true – there's no such thing as a free lunch !!

This cold calling on potential clients is one of the selling techniques used by AIA and tends to be by pretty little girls who may not (??) know what they are talking about or, as in this case, telling fibs.

Again to everyone, go to a License Insurance Broker – one who has an office and the correct Government licenses - This is to protect you ……….

[BSJ]

Hi eladblum, pulling both your legs at the same time! I am surprised you didn't fall over!

[eladblum]

Thanks guys.

Should have known better.

I only wonder, as I know this salesman (He was a monk in the village temple for 6 years until 4 month ago), is he spesific selling lies or even him don't know the real deal and manipulated by his boss?

[aussiebebe]

1. savings program - pay about 25,000 per year. after 7 years you have 400,000(???)

2. Health insurance - covers everything - pay about 10,000 per year. and listen to this: you can quit any year and get your money back! even if you were sick and needed medical treatment through all that time!

I have health insurance with a company called 'Thai Insurance' and accident insurance with AIA. The above story seems untrue but I did read an article on ajarn.com about AIA offering an insurance/savings package for 40k per year. The salesman was almost certainly lying about being able to quit at any time, though, and the returns seem far too high to be genuine.

I recently recieved some really good advice from other board members about getting home insurance, I'm sure others will suggest trusted insurance/savings packages, then you'll see how bogus the AIA salesman was. Just to give you an example; my 3-year-old son's health insurance with Thai Insurance is 19k per year and offers a Maturity benefit of 115k after his 20th Birthday (if we're even still living in Thailand then...). Or at least this is the 'agreement'. There is absolutely no way AIA will return 400k after 7 years.

[ThaivisaInsurance]

1. savings program - pay about 25,000 per year. after 7 years you have 400,000(???)

2. Health insurance - covers everything - pay about 10,000 per year. and listen to this: you can quit any year and get your money back! even if you were sick and needed medical treatment through all that time!

I have health insurance with a company called 'Thai Insurance' and accident insurance with AIA. The above story seems untrue but I did read an article on ajarn.com about AIA offering an insurance/savings package for 40k per year. The salesman was almost certainly lying about being able to quit at any time, though, and the returns seem far too high to be genuine.

I recently recieved some really good advice from other board members about getting home insurance, I'm sure others will suggest trusted insurance/savings packages, then you'll see how bogus the AIA salesman was. Just to give you an example; my 3-year-old son's health insurance with Thai Insurance is 19k per year and offers a Maturity benefit of 115k after his 20th Birthday (if we're even still living in Thailand then...). Or at least this is the 'agreement'. There is absolutely no way AIA will return 400k after 7 years.

The full name of the company is Thai Health and they are the underwriters for the Thai Visa plans.

May we suggest you check with Thai Visa near the renewal date as we can save you money on your premiums :

http://insurance.thaivisa.com/medical-pack...al-program.html

[DMasut]

An AIA insurance salesman came to my house that other day and offered a health insurance and a savings program that not quite looks real.

1. savings program - pay about 25,000 per year. after 7 years you have 400,000(???)

2. Health insurance - covers everything - pay about 10,000 per year. and listen to this: you can quit any year and get your money back! even if you were sick and needed medical treatment through all that time!

Is he pulling my leg? or is this dreamland?

This is a scam that comes around every few years.

There are several variations.

1. Where it runs like a PONZI scheme that pays you a little return so you think it is real and invest more and get other people involved.

2. It is an outright scam to get you cash and run.

**Thai people could NEVER AFFORD those kind of premiums what makes you think they would offer you such things?

Go directly to the insurance companies you know and trust, go online, ask you banker, etc.

Anyone coming to your home to sell you such things is 124% suspicious.

[loong]

Actually, many Thai people can and do pay these premiums.

There are many of these policies available in Thailand and a lot of Thai people fall for it.

Some come with no actual policy and some with 80 pages.

Another favourite with the Thais is paying a small monthly premium for a life assurance with a huge payout. Too good to be true? Well no as long as you die very soon. Example, you are 30 years old and pay in 100 Baht per month, if you die your family gets 50,000 Baht - if you don't die, after 20 years you get all your money back. So if they sign up 1000 people, they are taking 100,000 Baht per month. How many 30 year olds will die before they are 50? Half of them would have to die before they make a loss and of course they disappear long before the 20 years is up!

Edited February 22, 2009 by loong

[Vatman]

My wife`s son was insured with AIA. When he was killed in a motorcycle accident they sent an insurance investigator who obtained signed statements from the boy`s friends to say that he had been drinking. 5000 Baht goes a long way here. The claim was refused & instead of paying out the 600K that his life was insured for they refunded the cost of the policy. Leave them well alone.

[funmanager]

An AIA insurance salesman came to my house that other day and offered a health insurance and a savings program that not quite looks real.

1. savings program - pay about 25,000 per year. after 7 years you have 400,000(???)

2. Health insurance - covers everything - pay about 10,000 per year. and listen to this: you can quit any year and get your money back! even if you were sick and needed medical treatment through all that time!

Is he pulling my leg? or is this dreamland?

Impossible!

25000 x 7 =175000... Please read carefully on the contract you signed!

[funmanager]

My wife`s son was insured with AIA. When he was killed in a motorcycle accident they sent an insurance investigator who obtained signed statements from the boy`s friends to say that he had been drinking. 5000 Baht goes a long way here. The claim was refused & instead of paying out the 600K that his life was insured for they refunded the cost of the policy. Leave them well alone.

That's because the agent do not tell you the Exclusion clauses. In any case, buy Life Insurance instead of Accident Insurance, which have a lot of exclusions, that's why it is cheaper!

[trogers]

My wife`s son was insured with AIA. When he was killed in a motorcycle accident they sent an insurance investigator who obtained signed statements from the boy`s friends to say that he had been drinking. 5000 Baht goes a long way here. The claim was refused & instead of paying out the 600K that his life was insured for they refunded the cost of the policy. Leave them well alone.

Insurance should not cover murderers and sudicidal freaks. Same for those motorcyclists who do not wear a proper safety helmet. If you do not care for your own safety and well-being, why should an insurance company be forced to care for you?

One of the rule of law of insurance is - In good faith.

You are not allowed to buy insurance to cover life or injury if you already have the intention to do harm to yourself and/or others.

[loong]

Trogers,

I think that Vatman was saying that the insurance investigator paid for false statements to the effect that the deceased had been drinking.

Whether this is true or not, I have no idea.. Do the hospitals here check for alcohol in the blood in cases like this?

[trogers]

Trogers,

I think that Vatman was saying that the insurance investigator paid for false statements to the effect that the deceased had been drinking.

Whether this is true or not, I have no idea.. Do the hospitals here check for alcohol in the blood in cases like this?

The deceased has got mighty close friends. But do you believe a group of thai guys going out will not drink? Drink driving is the main killer at every festive season. That's the reason for the drinking ban this coming Songkran.

Edited March 6, 2009 by trogers

[ThaivisaInsurance]

Trogers,

I think that Vatman was saying that the insurance investigator paid for false statements to the effect that the deceased had been drinking.

Whether this is true or not, I have no idea.. Do the hospitals here check for alcohol in the blood in cases like this?

Yes they do, and the insurance companies will ask for the results.

[loong]

But do you believe a group of thai guys going out will not drink? Drink driving is the main killer at every festive season. That's the reason for the drinking ban this coming Songkran.

Yes I do believe that a group can go out and not everyone drink.

Most Thai people that I know either don't drink at all or nearly always drink to excess

My sister in law is a drunk, her husband never touches a drop. Maybe after witnessing the effects of Low Khow on her mother, the daughter doesn't drink and she married a man who doesn't drink.

Not everyone in Thailand is an alcoholic.