Group Insurance is a welfare benefit that employers, both government and private sector, can offer their full-time employees. There are many types of Group Insurance such as Group Live, Group Accident or Group Health insurances. Furthermore, a Group Endowment benefit encourages employees to regularly save money through an insurance instrument. Organizations can apply for Group Insurance but must be registered as a corporation and adhere to specific terms and conditions as specified by AIA.
- Group Employee Benefits – GEB
Group Employee Benefits – GEB is a welfare benefit that employers, both government and private sector, can provide to all full-time employees. Benefits include Life Insurance, Accidental Insurance, Total Permanent Disability, and Health Insurance which includes IPD and OPD (optional) or dental benefits (optional) as an additional coverage to the basic benefits required by law. Employers can also extend coverage to the employee’s spouse and dependents, furthering employee support and helping foster staff loyalty.
- Group Single Endowment – GSE
Group Single Endowment – GSE has the objective of allowing employees to save for their retirement, together with provision for an Accident Insurance and Hospital Benefit. A voluntary monthly saving amount between 200 -10,000 baht is deducted from the employee’s salary; spouses may also join the employee programme.
- Group Personal Accident – GPA
Group Personal Accident – GPA provides group accident coverage with Accidental Death, Permanent Disability, Dismemberment, and Medical Expense benefits to groups of employees on compulsory basis.
- Group Life Voluntary – GLV
Group Life Voluntary – GLV provides Life Insurance, Accident Insurance, and Hospital Benefit from any cause (accident or sickness), worldwide, 24 hours a day. This product is on a voluntary basis; spouse may also join the employee programme.