Life Insurance For Non Thai

[cardew]

Anyone know whether it is possible to buy term life insurance in Thailand on a non Thai resident, payable to a Thai national?

[Sunbelt Asia]

Yes, it is possible, although you will need to have a 1-year visa to purchase it.

Traditional "term" insurance is available, but many policies sold in Thailand are of the "universal" variety that is used as often for savings/investment than for actual death benefits.

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[richardt1808]

It may be a problem if you are not residing in Thailand.

No problem for foreigners to have auto insurance,medical insurance or whatever else type of insurance here but there is a requirement that you spend a certain amount of time here, or you would find riders in the policies which may not cover you for injuries/death outside of the country. You'd have to ask the companies individually. ThaiVisa has a whole section on Insurance so perhaps equire from one of their brokers.

Edited May 20, 2010 by richardt1808

[cardew]

Thank you.

[josiam]

You can purchase Level Term Insurance from many different IFA’s (independent financial advisors) who look after the ex pat community. Local Thai Term is much more expensive then international term that can be taken any where you go in the world. The premiums are age band (some loading of the premium may occur depending upon your physical condition) and the insurance company pay for the medical checkup and test required depending on the amount of coverage you require. Beneficiaries can be anyone that you desire over the age of 18 anywhere in the world.