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Insurance Advice In The Kingdom Of Thailand

Aug 5, 2008
Insurance has a crucial role to play in ones life, which not a lot of people seem to understand. You can get insurance for almost anything you need. There are now insurance policies for almost anything you commit. Medical and Life insurance delivers protection for the whole life of you and your family. In addition, an affordable maturity payment and generous premiums, provides you the peace and safety you always cherished for.

Life insurance is vital because it provides an opportunity for your beneficiaries to stay afloat if you die. However, if your interests are cash accumulation, estate planning, estate tax liquidity, and wealth transfer, life insurance can help you to achieve these as well. Now, life insurance policies are offered both locally and internationally in Thailand, and also from financial institutions, which are now entering the marketplace. Having a clear idea about the companies who provide the products is as important as understanding the products themselves. This is particularly important while you are purchasing life insurance, as policies will possibly pay out lots of years from now.

Health insurance is also crucial. However, the main consideration is what these policies cover. It is advisable to spend time assessing the health plans, which are available and then choosing the health plan which delivers the health coverage that is best for you at the cheapest price. The different plans on offer are referred to as silver, gold and platinum and the coverage and price vary with each of these plans depending upon the of the service quality you require.

Thailand is popular for being highly favored towards westerners. Cheap food, clothes, entertainment, hotels, even the clinics and hospitals are inexpensive considering the west and having few of the high profile doctors you can find around the world. Contrary to the perceived belief, Thailand has exceptional health care. Although Thailand is inexpensive compared to the west for most things, if you get hospitalized for a while, you could still lose a significant amount in hospital expenses.

Having travel insurance can be extremely beneficial. Travel insurance will not give you a lot of benefits in the case of minor ailments, but for something serious it could come in more than handy. If you are on a two-week long trip, on average, almost all travel insurances will charge you $20-$30 which is not unbearable in taking into account the bigger picture. That sum usually will account for important medical flights to the country where you reside, if that is what you opt for. If your stay at the hospital lasts for more than a week, most travel insurances even give you an extra bonus by flying in a family member to you.

Car insurance is another form of insurance that can be very useful. Car insurance should account for some minimal requirements so as to be legally valid. The basic coverages included are medical expenses, personal injury protection, liability coverage, property damage liability, death benefits, uninsured/underinsured motorist coverage, collision coverage and comprehensive coverage. Each state has varying requirements related with these coverages. Having a good idea about the different coverages could substantially reduce the costs of insurance.

There are other forms of insurance that can be useful to you in Thailand like the dive insurance. Basically, if you are prepared to investigate enough on the various policies you can get one that suits your requirements.
About the Author
For nearly 30 years, Bamrung Suvicha Apisakdi Law Associates (BSA Law) has focused on providing reliable legal advice and services to the Thai and foreign business community in Thailand. We provide international standards of legal services while retaining the customs of the Thai business culture
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