Maxi Insurance, MSIG offer 'tuition protection'
MAXI Insurance Broker Co together with MSIG Insurance (Thailand) has launched a tuition protection policy as the newest category of personal accident and healthcare insurance.
Managing director Jittiwut Sasibutra believes the new product will support educational opportunities and parents’ desire to help their children throughout their student lives so they can find good jobs in the future.
Now parents can rest assured that their children can complete their schooling should unforeseen events inhibit their ability to pay education fees.
“The idea started from analysing the market. I found only personal accident and healthcare insurance, while there was no protection for the insured’s children,” he said yesterday.
Rattapol Gitisakchaiyakul, chief executive of MSIG Insurance (Thailand), said the tuition protection policy was developed by MSIG Thailand and Maxi Insurance Broker to strengthen their long-term partnership and provide innovative products that meet the needs of their customers.
The policy covers loss of life and total permanent disability from accident or sickness. The premium depends on several variables such as tuition, number of academic years and number of children.
One premium payment provides coverage until the child finishes his or her course. Maxi Insurance Broker and MSIG expect to sell 10,000 policies, bringing in about Bt100 million in premiums this year, assuming an average of Bt10,000 a policy.
