Thailand's Office of Insurance Commission published consumer guidance setting out a 10-point checklist for people purchasing life insurance via agents, aimed at ensuring sales are transparent and that policyholders receive continuous protection in line with policy terms. Key steps include treating life insurance as risk management rather than a deposit, verifying an agent’s valid licence status and correct insurer affiliation, clarifying the buyer’s objectives, and assessing affordability across the full premium-paying period. The checklist also stresses understanding coverage conditions, benefits, exclusions and keeping sales documentation; completing proposal forms accurately without misstatements or omissions; and checking the issued policy matches what was offered. It highlights cancellation rights within 15 days of receiving the policy, extended to 30 days for telephone sales, with premium refunds after deductions for expenses and any medical examination costs, and advises that premiums should be paid only into the life insurer’s account (not an agent’s personal account) with payment evidence retained, including when using electronic channels.
Thailand Office of Insurance Commission 2026-04-09
Thailand Office of Insurance Commission issues 10-point checklist for buying life insurance through agents and paying premiums correctly
The Thailand Office of Insurance Commission issued consumer guidance with a 10-point checklist for purchasing life insurance via agents to promote transparent sales and continuous protection. The checklist covers clarifying objectives and affordability, verifying agent licensing and insurer affiliation, understanding coverage, exclusions and cancellation rights, ensuring accurate documentation and policy issuance, and paying premiums only to the insurer’s account with proof of payment retained.