Letter from Bangkok Bank (Bangkok Insurance): why they sent it and what needs to be done
May 8, 2023
If you received a letter from Bangkok Insurance (designed in corporate colors and containing the Bangkok Bank logo), then this means several facts at once:
- you have opened a bank account with Bangkok Bank
- you bought insurance to open a bank account
- almost 1 year has passed since the opening of the bank account
- you still live at the same address you lived at when you opened your bank account
The letter from Bangkok Bank (Bangkok Insurance) is blue with white letters. It is quite possible that you can receive a similar letter from another bank a year after opening an account and purchasing insurance. Outwardly, it may look different, but the essence is the same.
Reverse side of letter with return address.
The letter contains a reminder that your insurance will expire soon.
If you want to extend it, then you need to contact the bank and pay for the insurance for the next year.
If you do not want to renew the insurance, then no action is required from you.
Bangkok Bank Insurance Terms (Bangkok Insurance)
Since the entire letter is in Thai, it is difficult to decide whether or not to renew the insurance. If only because it is not clear what are the conditions of insurance.
The insurance you buy from the bank is accident insurance. That is, it is different from health insurance (which you can also purchase if you wish).
You (or your relatives in the event of your death) will receive accident insurance payments only if you are the victim of an accident. Illness is not covered by accident insurance. Illnesses are covered by health insurance.
So the points are:
1. Death, loss of limbs, vision or complete permanent disability due to an accident: in this case, 3,000,000 baht will be paid
2. Death, loss of limbs, vision or complete permanent disability as a result of murder, or physical violence, or as a result of disorder: in this case, 1,500,000 baht will be paid
3. Death, loss of limbs, vision or complete permanent disability due to riding a motorcycle or being on it as a passenger: in this case, 1,500,000 baht will be paid
4. Compensation for medical expenses due to accidents. Includes driving a motorcycle, being on it as a passenger, murder or physical assault, for each accident: in this case, 100,000 baht will be paid
5. Compensation for family income after loss due to an accident (12 months): in this case, 10,000 baht will be paid monthly
In my case, the price of insurance is 5900 baht.
Do I need to buy accident insurance?
This is a lottery in which you do not want to lose or even win. I would like the draw of this “lottery” to take place without us.
It is up to you to decide whether you need accident insurance. And I, in turn, can only wish you good luck on the roads and that you will never need accident insurance, even if you bought it.
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