People urged to carefully look into conditions of life insurance policies

BANGKOK, November 16 (TNA) - The Office of Insurance Commission (OIC), under the Thai Ministry of Commerce, has advised people to carefully study conditions and available options of dread disease insurance policies before they decide to purchase a product. OIC Deputy Secretary-General Varawan Vechasut made the advice on Saturday, acknowledging that many people now give extra attention to their health and seek to buy dread disease insurance policies for financial protection against critical illnesses, which are costly. Varawan said people should study contract terms of difference dread disease insurance policies before they decide to purchase one so that they get a product which suits their need and their ability to pay an insurance premium. According to the OIC deputy chief, people should also inquire information they need from an insurance broker and make sure that they get a receipt from every premium they pay for. Meanwhile, the OIC is working with insurance companies on the definition of dread diseases so that it will be commonly used by insurance companies to prevent dispute between insurers and insurance holders, as many people have mistakenly purchased a dread disease insurance policy due to misunderstanding about its protection. (TNA)