Does anyone have any experience or knowledge of a Thai Life Insurance company paying out in the death of a foreigner to their foreign/non Thai family members?

What was the process and about how long did it take for the foreign family members to get the payout from the Thai Life Insurance Company?

Did the foreign family members live inside or outside of Thailand?

Any other relative information appreciated.

Moved to Insurance forum

This happened to a friend of mine. He had a million baht Thai life insurance policy and died about two years after he took it out. He was intoxicated and walking along a mountain road near his home. He slipped and fell off the edge then off a cliff to his death. The insurance company refused to pay based upon his blood alcohol level at the time of his death (determined by blood alcohol tests during his autopsy). In small print the policy had an exclusion for dieing when intoxicated. They paid nothing to the widow. So if you get a policy here read it carefully and you can be assured if the circumstances of your death do not meet what is in the policy your beneficiary will not be paid.

Any insurance policy is defined by its Exclusions.

I wouldnt expect any insurance company , in any country , to pay out any amount of money if someone decides to go walking along/off a cliff when drunk .Or driving a bike/car . Suicide is an exemption on life insurance policies , and travel policies also .

I wouldnt expect any insurance company , in any country , to pay out any amount of money if someone decides to go walking along/off a cliff when drunk .Or driving a bike/car . Suicide is an exemption on life insurance policies , and travel policies also .

Not true. Many life insurance policies have a suicide clause. A time limit typically of 2 years must be met after signing the policy, after which suicide is cause for a death benefit.

Source:

http://time.com/money/3117698/how-life-insurance-policies-deal-with-suicide/

My experience:

Don't believe what insurance / assurance agents (or to be more correct 'commission agents') tell you.

Before signing any contract develop some questions and make direct contact with the insurance company, perhaps even visit their office and talk direct to the insurance company and make notes and insist the employees give their names and give you documents with specific answers to your questions.

Why? When my Thai son got married he discovered his new wife was paying for two insurance / assurance policies for her mother, both policies were way outside of anything logical, after my son asked the agent for some answers he visited the HO of the insurance company to check the details / check the agents answers.

The agent had deliberately given quite wrong and totally misleading answers in terms of benefits etc.

Beware!

I wouldnt expect any insurance company , in any country , to pay out any amount of money if someone decides to go walking along/off a cliff when drunk .Or driving a bike/car . Suicide is an exemption on life insurance policies , and travel policies also .

Many allow suicide after 2 years . Considered mental sickness that developed and took a life.

This happened to a friend of mine. He had a million baht Thai life insurance policy and died about two years after he took it out. He was intoxicated and walking along a mountain road near his home. He slipped and fell off the edge then off a cliff to his death. The insurance company refused to pay based upon his blood alcohol level at the time of his death (determined by blood alcohol tests during his autopsy). In small print the policy had an exclusion for dieing when intoxicated. They paid nothing to the widow. So if you get a policy here read it carefully and you can be assured if the circumstances of your death do not meet what is in the policy your beneficiary will not be paid.

Sorry to hear about your friend but a situation like this most insurance if not all will not pay out. Your friend put himself in a situation/risk that contributed to his death.

Exclusions, Thai insurance being sold in Thailand are loaded with these exclusions and you get them after you decide you buy them and get the rest of the paperwork. Ask the company to provide you with the find print and not just the selling points to get you to buy.

His situation he would have been denied payment if he was drinking a car or motorbike.

If a solely owned Thai company then you may have problems, choose one that is partnered with an International Company, you have a much better chance of being paid out. If you look at the finances of most pure Thai Insurance Companies they would not be allowed to exist in many countries due to their very poor/low reserves.

yes I have experience

yes I have experience

So as my op asks What was the process and about how long did it take for the foreign family members to get the payout from the Thai Life Insurance Company?

Did the foreign family members live inside or outside of Thailand?

Any other relative information appreciated and Thanks

Any insurance policy is defined by its Exclusions.

That's for sure, and furthermore, the policy given to read by the applicant certainly does not include all the exclusions.

This happened to a friend of mine. He had a million baht Thai life insurance policy and died about two years after he took it out. He was intoxicated and walking along a mountain road near his home. He slipped and fell off the edge then off a cliff to his death. The insurance company refused to pay based upon his blood alcohol level at the time of his death (determined by blood alcohol tests during his autopsy). In small print the policy had an exclusion for dieing when intoxicated. They paid nothing to the widow. So if you get a policy here read it carefully and you can be assured if the circumstances of your death do not meet what is in the policy your beneficiary will not be paid.

Sorry to hear about your friend but a situation like this most insurance if not all will not pay out. Your friend put himself in a situation/risk that contributed to his death.

Exclusions, Thai insurance being sold in Thailand are loaded with these exclusions and you get them after you decide you buy them and get the rest of the paperwork. Ask the company to provide you with the find print and not just the selling points to get you to buy.

His situation he would have been denied payment if he was drinking a car or motorbike.

Sorry. I can't resist.

"His situation he would have been denied payment if he was drinking a car or motorbike.

He would have had an impossible time finding a hospital with a stomach pump to handle that condition.

yes I have experience

So as my op asks What was the process and about how long did it take for the foreign family members to get the payout from the Thai Life Insurance Company?

Did the foreign family members live inside or outside of Thailand?

Any other relative information appreciated and Thanks

If the insurance company agrees to pay out then all is good

Cheque is paid into Thai Bank account

Foreigners lived outside of Thailand

need POA - so lawyers

yes I have experience

So as my op asks What was the process and about how long did it take for the foreign family members to get the payout from the Thai Life Insurance Company?

Did the foreign family members live inside or outside of Thailand?

Any other relative information appreciated and Thanks

If the insurance company agrees to pay out then all is good

Cheque is paid into Thai Bank account

Foreigners lived outside of Thailand

need POA - so lawyers

Whose Thai Bank account was the life insurance benefit paid into?

How did the foreign/non Thai family members get the money out of the Thai Bank account?

Where did the lawyers come from and how did they come into the situation?

Thanks for your time and help

My experience:

Before signing any contract develop some questions and make direct contact with the insurance company, perhaps even visit their office and talk direct to the insurance company and make notes and insist the employees give their names and give you documents with specific answers to your questions.

You mean go inside their office and demand names..maybe they"ll call the Cops...lol