Muang Thai Life Assurance has launched two new health protection products to serve the health-conscious segment, with a package for protection against medical expenses and health riders for wealthy customers.
Chief executive Sara Lamsam said Elite Health, a high-end medical insurance rider plan that offers worldwide coverage for outpatient and inpatient care, emergency benefits, well-being benefits and maternity benefits, from 20 million baht up to 100 million a year, is one such assurance policy.
For example, the premium for Elite Health starts from 30,000-40,000 baht for men aged up to 30 for coverage of 20 million baht a year.
The maximum protection of 100 million baht charges a premium of nearly 100,000 baht a year. The protection allows customers to purchase up until the age of 80 and covers protection up until age 85.
"The two products will be officially launched in March," Mr Sara said. "The Elite Health product will focus on the wealthy customer segment via all distributional channels, including bancassurance."
The premium will be about 270,000 baht for a 40-year-old man if customers want coverage for injury and illness expenses in the US.
Mr Sara said the riders were based on the results of a customer survey that looked into the desirable attributes of health insurance products and to serve the demands of wealthy clients who are frequent travellers or want to use specific overseas medical services.
The second product is "Muang Thai Sabai Chai Koen Khum Project", which is a medical expenses package covering up to 75,000 baht per medical appointment, with a 3,000-baht in-patient room rate.
Total medical expenses per year are capped at 375,000 baht and insurance premiums for this scheme are about 13,500 baht a year.
Mr Sara said although medical expenses tend to increase, the products offer a hidden opportunity, especially for customers who have specific needs.
The two products have been launched under the "Health is a Trend" campaign, for which the company has recruited Palitchoke Ayanaputra as brand ambassador.
The campaign will serve customers' need for health in three dimensions -- protection via two new insurance products, prevention through offering marathons and financial literacy, and privilege where existing and new customers are offered to join "Muang Thai Smile Club", with discounts and point collection offered.