Cancer Insurance in Thailand: Compare Your Options
Table of Contents
Cancer Insurance Options in Thailand
Cancer coverage in Thailand are most commonly found in 3 categories of insurance:
- Lump Sum Cancer Insurance
- Comprehensive Health Insurance (with Cancer Protection)
- Critical Illness Insurance
Lump Sum Cancer Insurance in Thailand
Lump Sum Cancer Insurance are among the most popular cancer insurance plans in Thailand. An estimated 10% of all health policies, out of approximately 2.4 million policies (source: OIC), are cancer insurance plans with lump sum payouts.
- Pays out a lump sum amount of money if the insured gets cancer – ranging from 200,000THB upon diagnosis of cancer, to 2 million THB or higher
- The amount of payout usually depends on the stage of cancer. Some cancers can be excluded.
- Relatively affordable. Premiums vary according to age & level of cover, from 700THB per year to over 10,000THB per year
Popular lump sum cancer insurance plans in Thailand:
- AIA cancer insurance plans review (coming soon)
- AXA cancer insurance plans review (coming soon)
- Generali cancer insurance plans review (coming soon)
- Allianz cancer insurance plans review (coming soon)
- Tune cancer insurance plans review (coming soon)
- FWD cancer insurance plans review (coming soon)
- Muang Thai cancer insurance plans review (coming soon)
- MSIG cancer insurance plans review (coming soon)
- CIMB cancer insurance plans review (coming soon)
- Thaivivat cancer insurance plans review (coming soon)
- Bangkok Insurance cancer insurance plans review (coming soon)
- Dhipaya (TIP) cancer insurance plans review (coming soon)
Critical Illness Insurance in Thailand
Critical illness insurance plans are a very popular option in Thailand, most insurers in Thailand offer critical illness insurance plans. These plans are often sold as riders to life insurance policies by life insurance companies. However they can also be bought standalone from non-life insurance companies & brokers in Thailand.
- Similar to cancer insurance plans that offer lump sum payouts, a critical illness insurance plan differs by covering a wider range of medical conditions. In addition to cancer coverage, these plans may also cover conditions such as heart disease, stroke, organ transplant, and kidney/liver failure.
- Lots of product variety.
- Pricing similar to cancer insurance plans with lump sum payout, but can have less value for money for cancer cover specifically
Popular critical illness cancer insurance plans in Thailand:
- AIA critical illness insurance plans review (coming soon)
- Viriyah critical illness insurance plans review (coming soon)
- FWD critical illness insurance plans review (coming soon)
Comprehensive Health Insurance in Thailand
- Pays for general healthcare expenditures as well as medical expenses for cancer treatments
- Typically includes coverage for chemotherapy, radiation therapy, surgery, and medications related to cancer treatment.
- Generally more expensive than other types of insurance for cancer – due to a broader range of cover; but cover levels for cancer treatments can be much higher than other types
Popular Comprehensive Health Insurance plans in Thailand:
- LUMA insurance plans review (coming soon)
- AXA insurance plans review (coming soon)
- ALLIANZ cancer insurance plans review (coming soon)
3 Tips before Getting a Cancer Insurance Plan in Thailand
- Identify the most suitable cancer insurance category based on personal circumstances: financial plan, health status, lifestyle, existing coverage, and financial obligations.
- For long-term residents of Thailand, purchase from an OIC-regulated life or non-life insurance company.
- Consider using an insurance broker for assistance. Brokers can compare options from different insurers, break down the details in a way that actually makes sense, and help you choose a plan that fits your needs and budget. Plus, they’re there to guide you through the application process and even assist with claims—so you’re not left figuring things out on your own. The cost of insurance (i.e. insurance premium) usually is the same regardless of whether insurance is purchased from broker or directly with the insurer. Even if the insurer provides a discount, it can still be worth it to save the hassle and use a broker.
FAQ
Which types of companies can issue a cancer insurance policy in Thailand?
In Thailand, only two types of companies are legally allowed to issue an insurance policy, as regulated by the Office of Insurance Commission (OIC):
Life Insurance Companies (around 23 companies)
These companies provide life and health-related insurance, including cancer insurance.
Examples of prominent life insurers:
AIA Thailand
Allianz Ayudhya Assurance
Bangkok Life Assurance
FWD Thailand
Generali Thailand
Krungthai-AXA Life Insurance
Muang Thai Life Assurance
Non-Life Insurance Companies (around 50 companies)
These companies typically provide a wide range of non-life insurance (e.g. motor insurance) as well as health and medical insurance policies, including cancer insurance policies.
Examples of prominent non-life insurers:
AXA Thailand
Bangkok Insurance
Chubb
Dhipaya
MSIG
Muangthai Insurance
Roojai
Sompo
Thaihealth
Thaivivat
Tokio Marine
Tune Protect
Which types of companies can sell an insurance policy in Thailand?
While only life and non-life insurance companies can issue insurance policies, several other entities are legally allowed to sell insurance policies on their behalf. However, all entities selling insurance must be licensed by the Office of Insurance Commission (OIC) and comply with regulatory requirements.
Licensed Life and Non-Life Insurance Companies (Directly or via Their Agents)
These companies can sell their own insurance policies directly to customers or through their agents, who must also be licensed.
Specialist Providers (Must Be Licensed as Insurance Brokers)
These companies partner with licensed insurers to create tailored insurance plans that may offer additional benefits or unique features.
Example: LUMA
Banks (Bancassurance Providers – Must Be Licensed as Insurance Brokers)
Many Thai banks sell cancer insurance policies in partnership with insurance companies.
To do so, they must be licensed as insurance brokers, and their staff members who sell policies are typically individually licensed as well.
While banks provide a convenient purchasing option, they may not always offer in-depth policy explanations like specialized insurance brokers.
Notable banks offering cancer insurance:
Kasikorn Bank
Krungthai Bank
Siam Commercial Bank (SCB)
Insurance Brokers and Agents (Must Be Licensed as Insurance Brokers)
Licensed brokers and agents can sell cancer insurance policies from different insurers, helping customers compare options.
Brokers are independent and can offer multiple options from different insurers, whereas agents typically represent a single insurance company.
