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KBank launches personal accident insurance via K PLUS with premium of only one Baht/day

          KASIKORNBANK (KBank) has unveiled a personal accident insurance, PA+ via K PLUS. Customers can easily apply for the service via K PLUS, and the premium costs only one Baht per day on average. Customers are covered by the insurance as soon as an online insurance policy is sent to the customer via email. The initiative offers greater convenience and saves time for buyers, as they no longer need to go to a Bank branch or submit any documents.
          Mr. Wirawat Panthawangkun, KBank Senior Executive Vice President, said that KBank launched PA+ via K PLUS, which features personal accident insurance with an affordable premium of only one Baht per day on average. In addition to having a fixed annual premium for the insured aged 16-65, customers can sign up for the product via K PLUS, making it more convenient and time-saving for them, with no documents required. After entering all of the required information and making payment via K PLUS, buyers will receive an online policy via email, with coverage effective immediately. PA+ offers the three following insurance plans to choose from: 
          PA Plus Value: Pay 1 Baht for premium per day, or just 365 Baht per year, and receive 5,000 Baht of medical expense reimbursement each incident (no incident limit), and up to 100,000 Baht of life insurance benefits. 
          PA Plus Protection: Pay 3 Baht for premium per day, or 990 Baht per year, and receive 15,000 Baht of medical expense reimbursement each incident (no incident limit), and up to 250,000 Baht of life insurance benefits.
          PA Plus Life Coverage: Pay 8 Baht for premium per day, or just 2,800 Baht per year, and receive 100,000 Baht of medical expense reimbursement each incident, up to 500,000 Baht of life insurance benefits and 2,000 Baht of daily income compensation.
          Mr. Wirawat said that the PA+ is a policy aimed at protecting Thais regardless of their income against damages caused by accidents. Thailand now has the highest number of road casualties in ASEAN, with 22,491 people dying in road accidents each year, or 60 persons a day on average; 74 percent of them are motorcyclists. Thai RSC Road Accident Data Center said that a total of 532,900 road accident cases were reported in January-June 2019, with 9,083 people dead from such accidents. In addition to road accidents, which are the most common accident type, Thai people also suffer from other accidents caused by slipping or falling. Such accidents may not be immediately fatal, but can cause serious injuries such as hip fractures – causing problems in body movement – and head injury.
          These statistics also show that there is a high risk of being involved in an accident. However, only 30 percent of the Thai population, or 21.8 million Thais, have obtained personal accident insurance, with an average medical expense of THB25,000-50,000 per case. This suggests that Thai consumers overall do not give much importance to personal accident insurance, although it can help them manage risk and reduce expenses that may occur, such as medical costs, that are trending higher whether you receive treatment at a private or public hospital, or use your social insurance benefits. In some cases, personal accident insurance may help the insured cover all their expenses and receive medical treatment in a timely manner from the hospital located nearest the accident spot. Aside from daily compensation while being treated at a hospital, the policyholder may get compensation in the case of disability or accidental death per the conditions specified in the insurance policy. The premium is not very high, at only 1 to 10 Baht per day depending on the protection coverage. The premium is also fixed throughout the duration of the insurance contract, and will not be subject to any change as seen in other types of insurance, while prospective policyholders do not have to provide their medical history. 
          Application via K PLUS is easy
          On the home page of K PLUS, press "Transaction", enter your password, then select "Other Services", press "Insurance", then select "Accident Insurance" and choose your desired insurance plan; enter the personal information of the person wanting to buy the insurance and their beneficiary. Once completed, the system will instruct you to transfer funds for premium payment. After the funds transfer has been processed, the system will send a policy via the email address provided, and the protection will be effective immediately. 
          For more information, please call Tel. 1484 or the K-Contact Center, Tel. 02-888-8888.