There is an ongoing crisis in Thailand, as the Southeast Asian country’s citizens, especially the younger ones, are facing increasing risks of critical illnesses. Coupled with rapidly advancing medical technology driving higher treatment costs, comprehensive health planning and financial preparation have become essential for long-term security.
Realising the challenge, Chubb Life Thailand, which places its customers at the heart of everything in its operations, has now committed itself to developing innovative products and services that meet the needs of Thai citizens at every stage of life.
“We have designed our critical illness insurance products ‘CI Extra Plus 90/10’ and ‘CI Extra Plus 90/20′, which provide comprehensive lifetime coverage for both life and critical illness to address customers’ needs for long-term protection planning and financial security for themselves and their families,” the company told International Finance.
The “CI Extra Plus” product, uniquely tailored to address diverse consumer needs, segments the market into three distinct groups: Working Adults (individuals who seek to plan and secure life insurance and critical illness coverage for themselves and their families), Parents/Guardians (individuals who wish to establish life insurance and critical illness protection to secure their children’s future), and Individuals Concerned About Critical Illness (people seeking a lump sum payment of money to prepare for future uncertainties).
CI Extra Plus offers long-term coverage for life and critical illnesses until age 90. The product also covers 65 critical illnesses, including five diseases for Critical Illness Group 1 (as declared by the Office of Insurance Commission), 45 diseases for Critical Illness Group 2, and 15 juvenile diseases.
“When diagnosed with a disease in Critical Illness Group 1, customers receive a 25% payout of the initial sum assured and can claim up to four times. If a significant illness is identified in Critical Illness Group 2, customers will receive a one-time payment of up to 100% of the initial sum insured and will no longer need to pay premiums, while still enjoying ongoing coverage,” Chubb Life Thailand noted.
Medical treatment expenses for Group 2 diseases are covered, and those who maintain their insurance throughout the contract period receive an additional payout of 10% of the initial sum. The premium remains the same throughout this period. Customers can also select their premium payment period, with options of either 10 years or 20 years. In terms of covering critical illnesses affecting juveniles, CI Extra Plus provides a special lump sum of 100% for the diagnosis of these diseases between the ages of 31 days and 15 years.
“The maximum coverage is up to 115% of the initial sum assured, while in cases of critical illnesses found in juveniles, this can increase up to 215% of the initial sum assured,” the company added.
To vividly promote and communicate the transformative aspects of CI Extra Plus, Chubb Life Thailand chose popular actor Chaiyapol Julian Poupart and his family. His portrayal of the story about protecting loved ones created an authentic advertising campaign that reflected the brand’s deep understanding of modern consumers, who value health security and family care. The warm and relatable presence of Chaiyapol Julian Poupart added credibility and created an emotional connection between Chubb Life Thailand and its customers.
“The campaign strategically emphasises the importance of insurance while instilling a sense of ‘need’ by comparing life to the familiar game of Monopoly. This clever analogy drives home the point that in real life, there is no ‘Get Out of Jail Free Card’ to escape the challenges of a critical illness without cost. Instead, ‘CI Extra Plus’ serves as an essential tool that enables you and your family to move forward confidently, reducing financial burdens and offering peace of mind at every stage of life,” Chubb Life Thailand asserted.
Ultimately, by truly understanding consumer needs, Chubb Life Thailand has successfully proven that a “great idea” can evolve into a product that allows Thais to plan long-term protection against life’s uncertainties, serving as a financial shield for themselves and their loved ones.