Compensation Insurance Thailand

Secure Your Future with Comprehensive Compensation Insurance: Protecting Your Finances and Peace of Mind.

Compare plans in minutes
Savings from trusted providers
Enjoy fantastic rewards
Reviews

4.8 | 7,290+ Reviews

Trusted by

Over 100,000 customers

Insurers

42+ Partners | 928+ Reviews

Income Compensation Insurance in Thailand: Protecting Your Financial Wellbeing

Looking for comprehensive income compensation insurance in Thailand? At CheckDi we offer affordable plans starting from just 600 baht per year. This guide will walk you through everything you need to know about income compensation insurance in Thailand including coverage options costs and how to apply.

What is Income Compensation Insurance in Thailand?

Income Compensation Insurance also known as Worker Compensation or Sickness and Accident Insurance provides crucial financial protection for employees in case of work-related injuries or illnesses. It ensures that workers receive medical care and partial wage replacement when unable to work due to job-related incidents.

Why Choose Income Compensation Insurance in Thailand?

  • Financial security in case of work-related injuries or illnesses
  • Compliance with Thai labor laws and regulations
  • Attractive employee benefit for recruitment and retention
  • Peace of mind for both employers and employees

What Does Income Compensation Insurance in Thailand Cover?

Daily Income Compensation Benefits for Illness

Provides a daily payout when staying in a normal patient room typically for 5 to 350 consecutive days.

Daily Income Compensation Benefits for Injury

Similar to illness coverage but specifically for injuries.

Intensive Care Unit (ICU or CCU) Compensation

Additional daily payout for treatment in intensive care units.

Medical Expenses from Accidents

Covers both in-patient and out-patient treatment usually up to 10% of the insured amount.

Death and Dismemberment Benefits

  • General Accidents: Pays benefits for accidental death or dismemberment.
  • Motorcycle Accidents: Specific coverage for motorcycle-related incidents.
  • Murder or Assault: Benefits if the insured is murdered or assaulted.

Additional Benefits

  • Partial wage replacement
  • Occupational therapy reimbursement
  • Healthcare benefits beyond standard medical expenses

What's Not Covered by Income Compensation Insurance in Thailand?

  • Pre-existing medical conditions
  • Self-inflicted injuries
  • Injuries from illegal activities
  • Cosmetic procedures
  • Mental health issues (unless directly caused by a work-related incident)
  • Routine check-ups
  • War or terrorism-related injuries
  • Natural disaster injuries (unless they occur at the workplace)
  • Certain high-risk occupations

How Much Does Income Compensation Insurance Cost in Thailand?

Income Compensation Insurance in Thailand is surprisingly affordable:

  • Starting from 600 baht per year
  • Premiums typically range from 600 to 3 000 baht per year
  • Costs vary based on coverage amount and occupation

How to Choose the Best Income Compensation Insurance in Thailand

  1. Assess your occupation and potential risks
  2. Compare coverage limits and exclusions from different providers
  3. Consider the specific benefits offered (e.g. ICU coverage motorcycle accident benefits)
  4. Look for policies that offer comprehensive medical expense coverage
  5. Check for additional benefits like occupational therapy reimbursement

How to Apply for Income Compensation Insurance in Thailand

  1. Choose a plan: Select the policy that best fits your needs
  2. Apply online: Use our website or contact our Customer Service Representative
  3. Submit documents: Provide necessary information about your employment
  4. Make payment: Complete the payment to activate your coverage
  5. Receive confirmation: Wait for the acceptance letter from the insurer

Frequently Asked Questions About Income Compensation Insurance in Thailand

What happens if I change jobs in Thailand?

If your insurance is provided by your employer you'll need new coverage with your new job. If you have personal coverage it remains valid unless your new job falls under high-risk occupations excluded by your policy.

Are part-time or temporary workers covered in Thailand?

In most cases yes. If you have personal coverage your work status doesn't affect your insurance.

Does the insurance cover work-from-home injuries in Thailand?

This can be a grey area. Generally if the injury is directly related to performing your work duties it may be covered. Each case is evaluated individually.

What's the difference between Income Compensation Insurance and Health Insurance in Thailand?

Income Compensation Insurance specifically covers work-related injuries and illnesses and provides wage replacement. Health Insurance covers general health issues and typically doesn't provide income replacement.

How long does income compensation coverage typically last in Thailand?

Coverage duration can vary but many policies offer benefits for up to 350 consecutive days for illness or injury.

Is Income Compensation Insurance mandatory for all businesses in Thailand?

While not mandatory for all businesses it's highly recommended and may be required depending on your industry and number of employees. Always check current Thai labor laws for specific requirements.

At CheckDi we're here to help you find the best income compensation insurance in Thailand for your needs. Don't hesitate to reach out if you have any more questions about protecting your financial wellbeing!

Coverage of Worker Compensation Insurance Thailand

A workers' compensation policy may include partial wage replacement healthcare benefits and occupational therapy reimbursement if the employee isn't able to work.

Primary Coverage of Worker Compensation Insurance: 

Compensation benefits for daily income due to illness for normal patient room

This coverage gives a daily payout to the insured when they have to stay in the normal patient room for an expected period of time there is a limit for each plan and policy from 5 consecutive days to 350 consecutive year

Compensation benefits for daily income arising from injury for normal patient room

This coverage gives a daily payout to the insured when they have to stay in the normal patient room for an expected period of time there is a limit for each plan and policy from 5 consecutive days to 350 consecutive year

Daily income compensation benefits in case of treatment in the intensive care unit (ICU or CCU)

This coverage gives a daily payout to the insured when they have to stay in intensive care unit for an expected period of time

Medical treatment benefits from accidents in case of in-patient and out-patient treatment :

Medical expenses benefit is usually 10% of the insured amount although some insurance companies have made their own policies that cover more for medical expenses. This coverage will benefit the insured person should an accident result to an injury that requires hospitalization.

Medical treatment benefits from accidents in case of inpatient treatment and outpatient maximum per accident

Medical expenses benefit is usually 10% of the insured amount although some insurance companies have made their own policies that cover more for medical expenses. This coverage will benefit the insured person should an accident result to an injury that requires hospitalization.

Benefits for death dismemberment loss of sight or total permanent disability : 

General Accidents

An accidental death and dismemberment coverage will pay benefits to the beneficiary if the cause of death or dismemberment is an accident. This is somehow a limited form of life insurance covering only accidents. insurance which is generally less expensive

Driving or being a passenger on a motorcycle

The coverage for riding at the back as a passenger in a motorcycle is usually specified in a different section. This amount is usually lower than the insured amount. This will give benefit to the beneficiary if the insured dies as a passenger in a motorcycle accident.

Murder or assault

Murder and Assault benefits will benefit the beneficiary if the insured is murdered or assaulted. The amount specified for this benefit is different from the death and dismemberment. The benefit for this is usually lower than the insured amount.