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Has anyone ever purchased life insurance in Thailand. Questions...

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My wife has a small business and earns her own money as she works hard. I just found out that she took out a life insurance policy that one of our customers sold to her. The AIA deal includes health cover and life insurance at a mere cost of thb255,000 a year. I was shocked at this price and she said she will pay it for 15 yrs and said something along the lines of getting money back at the end of this term? It looks like the health ins premium is 4000 baht. Unsure if this is per yr or month.


How does life ins work exactly. Does she get money back at the end of the term?


If she dies I assume the beneficiaries get money. On the health insurance contract Im listed as one ben' along with my daughter and her mother. Its a 500k payout. But is this separate to a life insurance payout? I dont care too much about this money bc I have my own investments but Im only concerned that she is being completely ripped off by this policy.


Does another 'function' of life insurance relate to if she gets sick and cannot work. Do they pay monthly money or whatever.


All of the docs are in thai. At the top of the first page of the life ins policy is a figure of 2,000,000 which I think must be the payout if she dies. If she pays this huge premium for 15 yrs then its going to amount to 3,825,000.  I told her that we could buy a house with this. Her response was all of her friends in her profession have it.


Any comments are appreciated

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It is more a savings policy that traditional life insurance. So at the end of term she will get a pay-out if alive as well.

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