Should also note that:
- Insurance is still in it's infancy in Thailand and is quite immature in terms of knowledge of the concept, coverage, products, taxation implications (where applicable) and overall professionalism
- Overall, a quite small percentage of the total Thai population can afford life and or health insurance (too busy surviving day by day to even think about the future)
- Insurance scams abound, health insurance is one example (forcing up premiums)
- Many Thais don't trust insurance companies for good reasons and same goes for insurance agents, and I know this one because of two incidents in my one step away Thai family
- I have contents insurance on my condo, a JV of a well known UK based company and a local company. A fire in a close room did a lot of smoke damage to my condo, local office of insurance company tried every angle possible to avoid payout as per the policy.
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