My wife is Thai and she has been fooled by someone working at her bank into buying accident insurance from Aydhya Allianz CP Life C. P. The man at the Bangkok Bank took advantage of my wife who did not understand the policy at all and she now want's to cancel the policy now that she found out what it is about. She paid 30000 Thai Baht for the first year of coverage and now the insurance company is saying that they took another 30000 from her bank account. The man who sold the insurance told her that she would get no money back if she canceled her policy in the first year. She told the man not to take more money from her bank account but the man told her that he took the money anyway. I need to find someone honest in the Phuket area that can explain to me and her about this policy and find a way for her to get her money back. The bank employee who sold her this policy told her that this money was a "savings plan". If you know of anyone who can find a way to explain about this policy and find a way to stop this man from taking 30000 Thai Baht from her bank account every year for accident life insurance.

First point – the Life companies work on a different commission system here than in many countries in the west. The companies here pay out most of the (very large) commission immediately to the salespersons – which is why they do not like to cancel/hand back the premium.

Second point – Life cover is, by and large, miss-sold here and due to the (sometimes) devious means of selling and the general lack of knowledge of insurance by Thais they can get away with it.

Back to your problem. The first course is to approach Allianz direct – not through the Bank or other institution as in many cases they do not know what they are talking about (note, always used a license Broker).

A company with the reputation of Allianz will 9 times out of 10 resolve the problem. Should that fail then you have recourse to the O.I.C.

Any further questions please pm Thai Visa Insurance