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High demand for health insurance due to Covid-19 worries, premiums expected to rise

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PHOTO: The Daily Targum

With the increasing demands for health insurance due to people’s worries over Covid-19, health insurance premiums are expected to grow 1.59% this year, according to the Insurance Commission.

Commission secretary-general Suthipol Taweechaikarn says total premiums will see 101 billion baht revenues this year, an increase from 99 billion baht last year. He adds that the Covid-19 situation is a major factor in higher demand for health insurance policies as medical expenses are likely to increase every year.

Some insurance companies in Thailand have also found an increasing demand for health coverage policies among their customers, especially those with high purchasing power.

Deputy CEO of Tokio Marine Life Insurance Thailand says the company will offer annual premiums starting at 15,000 baht.

“The company aims to increase health insurance premiums to 50% this year from 40% last year.”

Cigna Insurance CEO says the company will use digital technology for product and service development to meet customers’ demands in the new normal lifestyle.

SOURCE: Nation Thailand

 

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8 Comments

8 Comments

  1. Avatar

    Ian

    Monday, January 18, 2021 at 6:17 pm

    Another scam what is up with this country if it wasnt for the beautiful girls nobody would come look at tourist spots no girl no people I rest my case

    • Avatar

      Issan John

      Monday, January 18, 2021 at 8:32 pm

      It’s medical insurance which you can get from any company you like, anywhere you like, any country you like, or not get at all – where’s the “scam”?

      • Avatar

        Nipral

        Tuesday, January 19, 2021 at 6:52 am

        Anything coming from Thai ins. companies is a scam ! And not only ins. companies…

    • Avatar

      Mister Stretch

      Monday, January 18, 2021 at 8:53 pm

      Do you think health insurance premiums aren’t rising in your home country? If not, you’re deluded.

      And what of health care prices? Which are cheaper for quality care, Thailand or your home country?

      I recently bought health insurance here for the first time, and even with a hypertension rider, it was a fraction of what I would pay at home for the same coverage.

      I am not a big fan of paying for insurance…but when you need it, it’s good to have.

  2. Avatar

    Ben

    Monday, January 18, 2021 at 10:09 pm

    1.59% increase? Ian thinks everything is a scam.

    The BMA wants to raise the maximum BTS fare by 168% next month. Now that might be a bigger scam.

  3. Avatar

    Ian

    Monday, January 18, 2021 at 11:09 pm

    Mister stretch I live in a country that you don’t need health insurance it’s called the national health service of great Britain but I see you and johns points a foriegner in england does need health insurance as they are foriegners or visitors like yourselfs

    • Avatar

      Dee

      Tuesday, January 19, 2021 at 6:07 am

      In England it’s supposed you pay tax for your health national service.
      I bet one million against a bean that here you don’t pay a baht in tax.
      Please deny me by posting your tax declaration, hater…

  4. Avatar

    Nipral

    Tuesday, January 19, 2021 at 6:48 am

    In civilized countries when insurance coverages are in high demand premiums go down ! Fortunately not all countries have military govnt !

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