AIA Thailand focuses on critical illness coverage

[webfact]

AIA Thailand focuses on critical illness coverage
By SUCHEERA PINIJPARAKARN
THE NATION

 

BANGKOK: -- AIA THAILAND will focus on internal growth as it sees room in critical-illness insurance coverage, even though AIA Group is among the global insurers weighing a bid for SCB Life Assurance, a unit of Siam Commercial Bank, the country’s third-largest lender.

 

He Tan Hak Leh, chief executive officer, yesterday did not address the deal directly but said AIA Thailand could expand organically, driven by its network of insurance agents and its critical-illness policies. About 3 million out of its 5.5-million customer base have critical-illness protection but most do not have enough early-stage protection, even though the cost of medical treatment for early-stage critical illness is rising every year.

 

Critical illnesses include cancer, strokes and heart disease, whose early-stage treatment costs at least Bt200,000.Half of the customers with this kind of insurance already have a critical illness. 

 

Full story: http://www.nationmultimedia.com/news/business/corporate/30304938

 

-- © Copyright The Nation 2017-01-26

[CelticBhoy]

Is this not the company that is banned from selling to U.S. citizens?

Their sales people kept cold calling me and I was told to say, by a

close friend, that I was American. The calls then stopped!

[thai3]

what's the age limit?

[ramrod711]

Obviously preparing for the ten year visa customers.

[trogers]

2 hours ago, thai3 said:

what's the age limit?

Not over 70...

[pookiki]

From what I can surmise, the insurance industry in Thailand is largely unregulated. AIA had to be bailed out during the 'great recession'.  Of course, the bail out saved medical insurance for their executives.  At the same time, I was notified that my medical insurance was being cancelled in Thailand because I had attained the age of 60.

 

AIA, like other Thai insurers, like to focus on life insurance bundled with temporary disability insurance. The premiums are way out of line with any examination of actuarial evaluations. I would never do business with AIA in any country in the world. 

[SOUTHERNSTAR]

2 hours ago, pookiki said:

From what I can surmise, the insurance industry in Thailand is largely unregulated. AIA had to be bailed out during the 'great recession'.  Of course, the bail out saved medical insurance for their executives.  At the same time, I was notified that my medical insurance was being cancelled in Thailand because I had attained the age of 60.

 

AIA, like other Thai insurers, like to focus on life insurance bundled with temporary disability insurance. The premiums are way out of line with any examination of actuarial evaluations. I would never do business with AIA in any country in the world. 

If I remember correct AIA is part of AIG which had to bailed out in the US. They do assets as well as life cover insurrance. On the asset insurrance side they are ok but on the life side expensive.