Siam Samsung Life / Health Insurance - Any Experience?

[Tafia]

Anyone had any experience with Siam Samsun Life Insurance? They deal in Health & Life policies.

Any dealing with the company, claims etc...

Any information appreciated

[Godfree]

I'm looking into local insurers myself. I'd like to know what attracted you to Siam Samsung and....do they have an English-speaking rep?

[Tafia]

I'm looking into local insurers myself. I'd like to know what attracted you to Siam Samsung and....do they have an English-speaking rep?

Friend of my wife became a rep for them, seems they are starting to spread in Thailand but I haven't heard much about them.

[Theboy]

Why go with a local company ? Way overpriced compared to overseas companies

[Tafia]

Why go with a local company ? Way overpriced compared to overseas companies

Have you any examples?

[tonydabbs]

Siam Samsung is a life insurance company regulated by the rules for life insurance in Thailand. Life insurance companies normally sell health insurance as a rider on a life insurance policy. The health insurance is normally basic hospital coverage without any coverage expanders (such as major medical).

Life insurance in Thailand mainly focuses on building up savings (savings endowments with death benefits) rather than focusing on death benefit for family protection. The marketing focus is on building up savings for ones future, not financial security for ones family. That is why the premium seems so high to some expats. Comparing the cost of life insurance for savings build up here with the cost life of life insurance for the financial security of loved ones in your home country is like comparing "apples and oranges." There is very little similarity.

The savings account concept of life insurance was successfully introduced here by AIA about 70 years ago after life insurers who had focused on financial security for loved ones had failed. Life insurance is sold here following AIA's lead, now. And now, every Thai has a friend or relative selling life insurance. Siam Samsung must be a new addition, though.

The question is, do you want to build up savings? Or, do you want good health insurance coverage?

If you are on a limited budget and your highest priority is good health insurance coverage, then look at the General Insurance companies (AXA, Bupa, LMG PHC, THI, etc.).

Otherwise, Siam Samsung Life is probably a pretty good company. Always remember that insurance in Thailand is tightly regulated by the Office of Insurance Commission (OIC). You can turn to them if you have a problem. Life Insurance and General Insurance, though, are governed by two different sets of rules

[Theboy]

Why go with a local company ? Way overpriced compared to overseas companies

Have you any examples?

Yes try Peter over at AA ins brokers - the sponsor - they get very good permiums from a Brit company www.aainsure.net

[sprasad]

i live in bangkok for 4 years now .just made health insurance with siam samsung , i have experience with some other company and fiannly i go with samsung hope they will give good service .and someone question here about english speaking agent offcourse my agent can speak english .

[CheckHH]

Hi, Ive just signed up in the Hua Hin area for Siam Samsung Life / Health Insurance . Agent was easy to deal with and could speak very good English. Basically, it's the same as tonydabbs described and I felt the coverage was good for what I needed. You have the savings which can later be used when establishing credit for a vehicle loan or getting a secured credit card... in Thailand and you always have the option to cancel with the payout clearly detailed. I don't have the papers with me but if I remember, it covers out-patient for 30,000/visit and 950,000 for in-patient/visit. Life insurance wasn't anything to amazing and believe it was just 300,000 but in the case of an accident I'm covered for most incidents and visa and work permit satisfied... you can contact me for exact details or brokers contact details and I can send back to you by email tomorrow. Hopefully this was helpful and good luck.

Edited May 24, 2020 by CheckHH
Forgot to type something