Life Insurance Premium grew 4.69% at the end of July 2018

Life Insurance Premium grew 4.69% at the end of July 2018

 

Mr. Picha Siriyodhin, Executive Director of the Thai Life Assurance Association (TLAA),disclosed thatthe total premium income at the end of July 2018 was 358,583.82 million Baht, or an increase of 4.69% from the same period in last year. The total premium income is comprised of new business premiums was 102,911.62 million Baht and renewal premiums was 255,672.20 million Baht. The persistency rate was 84%

 

The new business premiums was 102,911.62 million Baht consist of (1) The first year premium was 52,818.43 million Baht and (2) The single premium was 50,093.19million Baht.

 

For renewal premiums was 255,672.20 million Baht and the persistency rate of 84% was still quite good. It shows that the insuredconsistently realized life insurance. Moreover, each life insurance company developed the products to compete continuously.

 

He added that TLAA would like to recommend you the project of “Group Insurance with Love and Care (Insurance 10 Baht) (Micro insurance)” presented by the Office of Insurance Commission (OIC). The OIC has the policy to promote Micro insurance for the people who have the risk of accidents in September 2018, there are 3 coverages which are:

  1. Loss of life, dismemberment, loss of sight or total permanent disability due to accident (excluding the murder and/or assault and/or driving or riding as a passenger on a motorcycle) 100,000 Baht
  2. Loss of life, dismemberment, loss of sight or total permanent disability due to the murder and/or assault and/or driving or riding as a passenger on a motorcycle 50,000 Baht and funeral fee.
  3. Funeral fee caused by sickness (except death case from sickness within the first 15 days from the inception date) 5,000 Baht.

 

Therefore, TLAA want to invite the people to join this project by purchasing the product from related insurance companies by distribution channels which are Counter Service Co.,Ltd. and The Bangchak Petroleum Co.,Ltd.  in September 2018 based on the age of the insured must be between 20-70 years old andthe coverage period is 30 days from the purchasing date. If you have any questions about this product, you can contact the hotline call center of OIC 1186.

 

For more information, please contact the Business Development Department at TLAA, Tel: 02-679-8080 ext.531, 532 or download information from www.tlaa.org/2012/statistics.php

 

The Thai Life Assurance Association

September 6, 2018

 

 

1. 07 2561_ข่าวเบี้ยประกันชีวิต เดือน 7.docx
2. July 2018 Premium 4.69%.docx
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