Amid a volatile economy and rising healthcare costs, changes to health insurance terms have become a hot topic closely watched by policyholders, especially questions about whether 'first baht full coverage insurance' still exists.
Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited (MTL), revealed that Muang Thai Life Assurance's full coverage insurance is still available and has not been discontinued by any insurer. Muang Thai Life Assurance continues to offer versions starting from the first baht, covering plans from 500,000 baht, 5 million baht, up to 100 million baht. Those who already have health insurance can also purchase Copayment plans. So far, since the introduction of Copayment policies, there has been little impact.
Meanwhile, last year Muang Thai Life Assurance saw strong growth despite multiple challenges. In 2025, the company’s first-year premium income grew by over 10% compared to the same period the previous year. Investment-Linked insurance grew 249% year-on-year, while critical illness coverage (individual) grew 24% year-on-year.
The Net Promoter Score (NPS) increased from 75 to 78 points. The Capital Adequacy Ratio at the end of 2025 was over 350%, well above the regulatory requirement of 140%. The company received credit ratings and financial strength ratings from S&P Global Ratings at BBB+ (Stable Outlook), Fitch Ratings at A-, and AAA(tha) (Stable Outlook).
For 2026, Muang Thai Life Assurance aims for total premium growth of 2-3% from the 5% growth in 2025, aligning with Thailand’s economic outlook this year, which is expected to slow with an average growth of only 1.5-2.0%.
Regarding current opportunities and challenges, Sara said that despite ongoing negative economic factors and inflation, the company sees “opportunities” from two main trends: increased focus on health coverage as Thailand becomes an aging society, and growing awareness of life insurance as a tool for wealth transfer to heirs.
Therefore, in 2026, Muang Thai Life Assurance announced its “Go Healthier with MTL” strategy, focusing on improving physical health, mental well-being, and financial health through diverse products, services, sales channels, innovations, partners, and a comprehensive health ecosystem that meets all lifestyles at every stage of life.
This includes customizable coverage, comprehensive services, and extensive partners (Diagnosis and Treatment) such as MTL Health Buddy, CareCover, Sahaklinic, a network of hospitals including MTL Smile Hospital Network, MTL Global Doctors, and MTL Global Connect. It also covers ongoing care after treatment or recovery and eldercare and dependent care through expert partners (Post-Treatment) like Health at Home, Naya Residence by Lifwell, and many health partners.
Under the MTL Hospital Smile Network project, partnerships with over 145 hospitals nationwide—including public, private, and university hospitals—aim to enhance insured customers’ convenience and peace of mind by reducing worries over excess costs, providing rapid pre-treatment expense assessments, and offering special surgery packages, reflecting the company’s commitment to comprehensive customer care.
On financial health care, Muang Thai Life Assurance has developed products to simplify life planning, allowing customers to select coverage appropriate to their life stage. This includes options for seamless wealth transfer across generations with products like “Muang Thai Premier Legacy.”
They also offer solutions to ease clients’ minds about their loved ones’ future through the “ShieldLife” program, which provides solid financial guarantees. Additionally, new products combine life and health insurance to protect both policyholders and their beneficiaries in a single policy, such as “Muang Thai Flexi Protection,” along with various health, critical illness, investment-linked life, and accident insurance products designed to meet diverse customer needs.
Recently, they launched the new product “Muang Thai Flexi Protection 99/5,” a life insurance policy that “buyers can truly use.” It features comprehensive life and health coverage in one policy, allowing the insured to convert the sum assured into medical expenses at age 65*, providing peace of mind with health funds available in retirement. It covers actual expenses for both inpatient and outpatient care, with a fixed premium for 5 years that does not increase with age. The policy’s eligibility age has been extended from 45 to 55 years, with coverage lasting up to age 99. In case of death, the remaining sum assured can be passed on to beneficiaries, and premiums are tax-deductible.
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