Term life insurance in Thailand has become one of the most preferred ways to ensure financial security for families. It offers simple, affordable protection that guarantees your loved ones receive financial support if something unfortunate happens to you during the policy term. Let us see how term insurance works in Thailand, the available types and benefits, and how Non-Resident Indians (NRIs) living in Thailand can also purchase term life insurance in India through platforms like Policybazaar Term Life Insurance for global protection.
Term insurance in Thailand is a pure protection plan that provides life cover for a specified period. If the policyholder passes away within the term, the nominee receives a pre-decided lump-sum amount (sum assured). However, if the insured survives the policy duration, the coverage simply ends with no maturity benefit. It is one of the most cost-effective life insurance options available in Thailand, as it focuses solely on protection rather than investment. All policies are regulated by the Office of Insurance Commission (OIC), which ensures consumer protection and transparency.
High Coverage at Affordable Premiums: Term life insurance offers large life cover at relatively low costs, making it accessible for working professionals and families.
Financial Protection for Loved Ones: Term plans ensure your family can maintain their standard of living, pay off debts, and meet essential financial goals.
Flexible Policy Options: You can choose coverage duration, payout options, and additional riders based on personal needs.
Tax Advantages: The premiums paid for term life insurance may qualify for tax deductions under Thailand’s tax laws.
Ease of Purchase: Policies can be easily bought online through Thai insurers or international providers.
| Type of Term Insurance | Description |
| Level Term Insurance | Provides fixed coverage throughout the term. Premiums remain the same. |
| Decreasing Term Insurance | The coverage reduces gradually, suitable for those repaying loans or mortgages. |
| Increasing Term Insurance | The coverage amount increases yearly to offset inflation. |
| Convertible Term Insurance | Allows conversion into a permanent plan later without new medical checks. |
| Joint Term Insurance | Covers two lives under a single policy, typically spouses, with payout upon first death. |
Term insurance in Thailand functions through a simple process designed to offer long-term financial protection:
The first step is to decide how much coverage your family will need and for how long. For instance, someone earning THB 1,200,000 per year may opt for a THB 12 million sum assured for 25 years.
You pay a fixed premium at regular intervals—monthly, quarterly, or annually. Timely payments ensure your policy stays active.
Once active, your policy provides life cover for the entire chosen term. If you pass away during this period, your family receives the sum assured.
Your nominee can file a claim by submitting essential documents such as the death certificate and policy papers. Most insurers in Thailand process valid claims efficiently.
If you survive the policy term, the coverage ends automatically. There is no maturity payout, as the plan is purely for protection.
| Feature | Term Life Insurance | Whole Life Insurance |
| Coverage Duration | Fixed term (e.g., 10–30 years) | Lifetime (till 99/100 years of age) coverage |
| Purpose | Pure protection | Protection with savings element |
| Premiums | Lower and fixed | Slightly higher due to cash value accumulation |
| Payout | Only on death during policy term | On death or maturity |
| Best Suited For | Families, loan protection, income earners | Long-term wealth and protection needs |
Non-Resident Indians can also purchase term life insurance for NRI in Thailand from India as an alternative or additional protection option. Many Indian insurers offer NRI-specific term plans that provide global coverage and flexible management options. Platforms such as Policybazaar Term Life Insurance make it easier for NRIs to compare, choose, and buy plans online, ensuring protection for families both in India and abroad.
The protection from a term life insurance remains valid worldwide, including Thailand, irrespective of where you travel.
The Term insurance in India often offers higher coverage at comparatively lower premiums.
With pre-approved cover, you can easily purchase term insurance without any hassles.
The tele/video medical facility allows customers to buy term insurance without having to visit India again.
Get an additional discount of 5% on premiums paid via annual premium pay mode.
Here is a list of term life insurance for NRIs in Thailand from Indian insurers:
| Life Insurance Company | Term Insurance Plan | Type of Plan |
| Axis Max Life Insurance | Axis Max Smart Term Plan Plus | Pure-risk |
| Tata AIA Life Insurance | Tata AIA Sampoorna Raksha Promise | Pure-risk |
Here’s how you can buy term life insurance in India as NRIs in Thailand:.
Step 1: Visit the official term insurance for NRI page of Policybazaar
Step 2: Fill in your name, gender, contact information, and other details
Step 3: Select the right smoking habits, annual income, and educational qualifications.
Step 4: Choose the best term insurance in Thailand and proceed to pay
Term insurance in Thailand remains a practical and affordable way to protect your family’s financial future. It offers flexibility, simplicity, and peace of mind. For NRIs living in Thailand, buying term life insurance in India through Policybazaar Term Life Insurance can be an excellent alternative, combining global coverage, lower premiums, and complete online convenience. Whether you choose a local or Indian insurer, a term plan ensures that your family’s goals and financial stability remain intact, no matter what happens.
˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
Women
+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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