Muang Thai, Line BK aim to serve low income earners
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Muang Thai, Line BK aim to serve low income earners

Muang Thai Life Assurance (MTL) has joined hands with Line BK, a social banking service provider, to launch an insurance brokerage business specifically targeting low-income earners and freelancers.

Sara Lamsam, president and chief executive of MTL, said the collaboration with Line BK would pave the way for the public to easily access life and health insurance policies tailored to each individual's lifestyle.

Designed specifically for Line BK's clients, and particularly those of modest means, these products have been curated from an outside-in viewpoint to resonate with genuine customer needs.

"The objective is to simplify their access to MTL's protection. This aligns with the company's core mission of bringing joy to every individual's life," added Mr Sara.

Line BK currently has about 6 million users, of which 10% or 600,000 users are interested in life insurance products.

Line BK will initially offer five of MTL's life and health insurance products through its platform. The first is aimed at helping consumers offset outpatient medical treatment costs with a maximum coverage of 2,000 baht per visit, which can be utilised up to 30 times a year.

The second product allows policyholders to receive a lump-sum payment of up to 500,000 baht on the diagnosis at any stage of a severe disease. This is available for individuals aged between 20 and 58.

The third product is the IPD Top Up, which helps cover excess medical costs from existing insurance or provides benefits of up to 500,000 baht per hospital admission with a deductible 20,000 baht per occurence. The product is available for individuals aged between 20 and 69.

The fourth product, available to individuals aged 21 to 59, provides coverage for the actual cost of a room and treatment of up to 500,000 baht per occurrence, with no restrictions on the number of admissions.

Finally, it offers daily compensation of up to 1,000 baht per day for a maximum of 365 days if a policyholder is hospitalised due to injury or illness. The amount of compensation is multiplied by two if the individual is admitted to the hospital's ICU. This is available to persons aged 21 to 59. All insurance plans can be applied for without having to undergo a health check.

Tana Pothikamjorn, chief executive of Kasikorn Line, said insurance is considered to be one of the most fundamental financial products that can assist Line BK's customers in effectively managing their finances in unforeseen health and accident situations.

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