Bangkok Life Assurance has unveiled an in-depth study on consumer behavior in an era of increased longevity. The findings reveal that while the average lifespan of Thai people has risen to 78 years, they face an average of 11 years of poor health toward the end of their lives. In response, the company is embarking on a new strategic direction under the concept, “BLA GoodLife Keeper: Keep Life Good, for Longer.” This approach shifts the focus from merely providing financial protection when risks occur to a proactive model centered on prevention and health restoration, supported by the “BLA EveryCare” service and the “BLA Well-Being Ecosystem.” Furthermore, the company is elevating its agents to the role of “Life Care Partners,” who assist clients in life planning using the “4 Life Accounts” framework. Additionally, a new product, “Huang Rak Sud Khum” (Comprehensive Care for Loved Ones)—a whole-life insurance policy covering death, critical illnesses, and accidents—has been launched to provide all-in-one protection.

Chone Sophonpanich, President and Chief Executive Officer of Bangkok Life Assurance Public Company Limited, stated that research into the behaviors and needs of Thai consumers indicates that while lifespans are extending—with the current average at 78 years—the period of good health typically ends around age 67. This leaves individuals to contend with illness and declining health for up to 11 years in their later stages of life. The research also highlights five key underlying consumer needs: the desire to remain capable of performing daily tasks independently for as long as possible (“Stay Capable”); the desire to maintain autonomy in how one lives (“Stay in Control”); and the desire to be protected without becoming a burden to loved ones (“Stay Protected, Effortlessly”). Notably, the study found that over 60% of consumers are concerned about the prospect of becoming a burden to their families. Ensuring security to withstand all risks ("Stay Secured") and avoiding isolation in one’s later years ("Stay Connected").

Thai society is transitioning into a full-fledged longevity society, with people living longer lives. Consequently, preparation today must extend well beyond standard retirement planning—encompassing long-term healthcare costs, chronic illnesses, shifting family structures, and essential emotional and relational needs. In this context, the role of life insurance has evolved; it is no longer just about selling policies, but about designing a high quality of life that lasts. Guided by this philosophy, Bangkok Life Assurance (BLA) emphasizes fostering a better quality of life across four key dimensions: physical fitness, financial readiness, emotional balance, and healthy relationships.

"To help our customers achieve a sustainable, high-quality life, Bangkok Life Assurance is moving in a new direction as a ‘BLA GoodLife Keeper’—ensuring a good life that lasts longer. We are expanding our scope beyond traditional financial protection toward ‘Protective Care+.’ Our products are designed to help Thai people enjoy a long, high-quality life, covering proactive care to encourage healthy habits, preventive care to ward off illness, and restorative care to facilitate a swift return to daily life. We also offer ‘GoodLife Care Check-in’ services, allowing customers to regularly review their life plans with their insurance agents," Mr. Chone stated, adding:

"By 2026, Bangkok Life Assurance aims to provide a diverse range of protection options while fostering emotional balance." New insurance policies are being introduced through two approaches: "Extension" (extending the scope of coverage) and "Expansion" (broadening coverage to address the complex needs arising from increased longevity). An example of the former is "BLA Long Life Care," a critical illness policy that shifts from a traditional "diagnose-pay-terminate" model to a "diagnose-pay-continue" model. It covers eight serious brain-related conditions and illnesses that significantly impact long-term daily living—such as Alzheimer’s disease and Parkinson’s—by providing an annual payout of 10% of the sum assured, continuing up to age 99. Under the "Expansion" approach, products are designed to meet more complex, longevity-related needs. These include "GainFirst Saving & Flexi Care," which offers an additional 10% of the sum assured annually as a well-being benefit; "BLA Saving & Care 168," which provides an extra 12% of the sum assured annually upon diagnosis of a critical illness, plus a lump-sum payment in the event of a terminal illness; and the pension plan "BLA Pension & Care 888," which delivers an initial pension payment of 30% of the sum assured at age 60, followed by annual payments of 8% of the sum assured until age 88—with an additional 8% annual payout provided from the very first year if the policyholder is diagnosed with a critical illness.

Most recently, the company launched "Huang Rak Sud Khum" (Comprehensive Care), an insurance plan designed for professionals across all occupations. Its key feature is coverage extending up to age 99, encompassing 25 critical illnesses and double-layered accident protection, all within a single policy. The policy requires premium payments for 20 years and is available to individuals from birth up to age 70, with a sum assured ranging from 100,000 to 5,000,000 THB. Monthly premium payment options are available. Should the policyholder be diagnosed with a critical illness, they will receive an advance payout of 30% of the sum assured to assist with medical expenses. Furthermore, the policy provides dual-tier accident coverage—at no additional premium—throughout the 20-year payment term: an additional 5% of the sum assured in the event of bone fractures, burns (from fire or scalding liquids), or internal organ injuries resulting from an accident; and an additional 50% of the sum assured in the event of accidental death or loss of organs.”

Ms. Oranart Nachapong, Assistant Executive Vice President of Marketing Strategy and Customer Management, stated, “Because product-based coverage alone is insufficient for ensuring a good quality of life in the long term, Bangkok Life Assurance continues to enhance its ‘BLA Well-Being Ecosystem’ and ‘BLA EveryCare’ services to create a tangible experience for customers. Certain supplementary services have seen notably high usage rates; for instance, within the ‘Restorative Care’ category, the hospital transport service (‘Driving Home’) has experienced a significant uptake.”

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