zeekgarcia Posted January 31, 2015 Share Posted January 31, 2015 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. Link to comment Share on other sites More sharing options...
draftvader Posted January 31, 2015 Share Posted January 31, 2015 Moved to Insurance forum Link to comment Share on other sites More sharing options...
BarnicaleBob Posted January 31, 2015 Share Posted January 31, 2015 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. 1 Link to comment Share on other sites More sharing options...
Evilbaz Posted January 31, 2015 Share Posted January 31, 2015 Any insurance policy is defined by its Exclusions. 1 Link to comment Share on other sites More sharing options...
ktm jeff Posted January 31, 2015 Share Posted January 31, 2015 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 . Link to comment Share on other sites More sharing options...
Popular Post csabo Posted January 31, 2015 Popular Post Share Posted January 31, 2015 (edited) 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/ Edited January 31, 2015 by csabo 3 Link to comment Share on other sites More sharing options...
scorecard Posted January 31, 2015 Share Posted January 31, 2015 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! Link to comment Share on other sites More sharing options...
poweratradio Posted January 31, 2015 Share Posted January 31, 2015 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. Link to comment Share on other sites More sharing options...
thailand49 Posted February 1, 2015 Share Posted February 1, 2015 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. Link to comment Share on other sites More sharing options...
DGS1244 Posted February 1, 2015 Share Posted February 1, 2015 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. 1 Link to comment Share on other sites More sharing options...
BlackJack Posted February 1, 2015 Share Posted February 1, 2015 yes I have experience Link to comment Share on other sites More sharing options...
zeekgarcia Posted February 2, 2015 Author Share Posted February 2, 2015 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 Link to comment Share on other sites More sharing options...
watcharacters Posted February 2, 2015 Share Posted February 2, 2015 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. Link to comment Share on other sites More sharing options...
watcharacters Posted February 2, 2015 Share Posted February 2, 2015 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. Link to comment Share on other sites More sharing options...
BlackJack Posted February 2, 2015 Share Posted February 2, 2015 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 Link to comment Share on other sites More sharing options...
zeekgarcia Posted February 3, 2015 Author Share Posted February 3, 2015 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 Link to comment Share on other sites More sharing options...
georgegeorgia Posted February 6, 2015 Share Posted February 6, 2015 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 Link to comment Share on other sites More sharing options...
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