OIC in Thailand Offers Songkran Micro-Insurance Policies

The micro-insurance project was launched last year with policies sold at THB10 per person. The policy covered a 30-days period with a mximum compensation of THB100,000 paid in case of death of the policy holder. Together with Christmas and New Year deadly week, Songkran is one of the most dramatic periods of the year as far as the number of road casualties and injuries in Thailand is concerned. For example, in 2018 along, 3,724 accidents were recorded during Songkran resulting in 418 death and 3,897 people injured.

This year, Songkran insurance will cost THB7 only. The coverage period is 30 days. Policies can be purchased starting from April, 14. The Songkran Took-Jai micro-insurance scheme covers three major cases:

– A 100,000 compensation is to be paid in case of death, permanent disability, loss of organs or sight occurred as a result of road accident, while riding motorcycles or travelling by a motorcycle as a passenger.
– A 50,000 compensation is to be paid in case of death, permanent disability, loss of organs or sight occurred from assault or as a result of road accident.
– A 5,000 compensation is to be paid to cover funeral expenses in the event of death from illness within 15 days from the moment the policy comes into force.

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