"Sara Lamsam" unveils MTL's vision for an aging world.

Muang Thai Life Assurance promotes the Life–Health–Wealth Span concept, designing insurance systems to help Thais "live long lives with quality and sufficient funds."

30 July 2569 – "Sara Lamsam," Chief Executive Officer of Muang Thai Life Assurance Public Company Limited. The company reported continued growth in its first-half performance, with total premium income increasing by approximately 9%, while unit-linked products showed outstanding growth. The company also outlined its strategy for addressing an aging society by balancing life expectancy, health, and financial security, emphasizing that in a world where people live longer, "good health alone may not be enough if you don't have the financial means to support life after retirement."

In a world accelerating by technology, artificial intelligence, economic volatility, geopolitical conflicts, and rising healthcare costs, the challenges of life planning are fundamentally changing.

While most people previously focused only on how to live a long and healthy life, today it is necessary to ask an additional question: will our savings and income be sufficient to live a longer life, especially as Thailand is entering a super-aged society?
Mr. Sara Lamsam, Chief Executive Officer of Muang Thai Life Assurance Public Company Limited (MTL), reflected on these challenges at the Exclusive Dinner Talk – Press x MTL, using the concept of “Life Span–Health Span–Wealth Span,” which links lifespan, health, and financial security to ensure that a long life does not become a burden in later years.

Continued growth in the first half of the year, with unit-linked products standing out.

Mr. Sara stated that, regarding the overall performance during the first six months of 2026, Muang Thai Life Assurance was able to maintain good growth, with total premium income growing by approximately 9%, while first-year premiums or New Business Premium grew at a satisfactory level.

In the area of ​​regular premium payments, or New Regular Premiums, there was approximately 7% growth, reflecting that customers still prioritize protection and long-term financial planning, even in the face of economic uncertainty and rising living costs.

The product showing outstanding growth is unit-linked insurance, with first-year premiums growing by approximately 500%. Based on market data from the first five months, Muang Thai Life Assurance holds a leading market share in the industry.

“We are pleased with the growth of unit-linked products because they are not easy to sell and require the right sales techniques. Customers need to be clearly explained the protection, investment, risks, and appropriate timeframe. This growth reflects the hard work of our team and the quality advice we provide through our sales channels.”

However, Muang Thai Life Assurance does not aim for growth from any single product type, but rather strives to diversify its product portfolio to meet the diverse needs of its customers.

Within the life protection product portfolio, the company offers whole life insurance, term life insurance, and universal life insurance, all of which have seen approximately 6% growth. Meanwhile, savings and endowment products are also expected to grow by around 20%.

Mr. Sara believes that the growth of savings products is important because many Thais still do not have sufficient savings for retirement. Endowment life insurance, annuity insurance, unit-linked insurance, or universal life insurance can therefore play a part in building financial discipline.

The company's financial position remains strong, with a Capital Adequacy Ratio of approximately 490%, reflecting its stability and ability to meet long-term customer obligations.

The volatility in the second half of the year still needs to be closely monitored.

Although the performance in the first half of the year was positive, it is acknowledged that the outlook for the second half still involves factors that need close monitoring, especially geopolitical conflicts, energy prices, inflation, and the economic situation both domestically and internationally.

“For the first six months, we were pleased with the results, but from now on we need to monitor the situation monthly because the world is highly uncertain. Factors such as oil prices, transportation costs, inflation, and international situations inevitably affect people's purchasing power and finances.”

However, the demand for health insurance remains high as people become more aware of health risks. Insurance companies, however, must design products and services that align with customers' ability to pay premiums and manage healthcare costs appropriately.

Thailand is facing the challenge of "longer life expectancy but insufficient income."

The statement says that Thailand is facing a clear shift in its demographic structure, including a declining birth rate, a shrinking working-age population, and an increasing number of elderly people.

In the future, the death rate may consistently exceed the birth rate, and without corrective measures, Thailand's population could decline significantly in the long term.

Thailand is one of the ASEAN countries rapidly transitioning into an aging society, yet it faces limitations in savings, both personal savings and savings within the government system.

"We are a society shaped by the value of family; parents take care of their children, and when parents retire, the children return to care for them. But today, the family structure has changed. Younger generations are marrying less, having fewer children, or choosing to live alone more often. This raises the question: how will one manage life after retirement if they live longer but have no children or family to care for them?"

Many working-age people have not yet prepared sufficient savings. While some start retiring as early as age 55 or 60, they have the potential to live for another 20-30 years or even longer.

Without post-retirement income, savings, and a plan to cover healthcare costs, a longer lifespan could become a financial risk instead of an opportunity.

Lifespan may increase, but health span may stop sooner.

Mr. Sara explained the concept of Longevity, stating that most people focus on two things: Life Span, or the length of time they are alive, and Health Span, or the length of time they can live in good health.

Data from studies in several countries show that even though average life expectancy has increased, there is still an average gap of about 11 years between Life Span and Health Span.

That means a person might live to be 80 or 90, but the last 10 years could be spent battling chronic illness, disability, Alzheimer's, or becoming bedridden.

"Living a long life doesn't mean you'll be healthy forever. When serious illnesses, disabilities, or Alzheimer's occur, your health span may stop, but your life span continues. The remaining time is therefore costly and requires significant care."

Advances in medical technology have led to more effective treatments. Many diseases that previously required major surgery can now be treated with less complex methods. However, these technologies come with higher costs.

Furthermore, Thailand is at risk from non-communicable diseases such as diabetes, hypertension, heart disease, and cancer, which are significant factors driving up healthcare costs.

Wealth Span: A Crucial Variable Often Forgotten

Beyond Life Span and Health Span, Mr. Sara suggested that Thais need to prioritize Wealth Span, which refers to the period during which an individual has sufficient income, savings, or assets to live on.

During childhood, individuals have no income and depend on their parents. Upon entering the workforce, they begin earning income and start saving. However, many may not start saving immediately because they prioritize spending, traveling, buying goods, or gaining life experiences.

When retirement begins, regular income stops. If savings are insufficient, the wealth span may end before the life span.

"Most people talk about exercising, eating well, and taking care of their health, which is correct. But what we often forget is Wealth Span. Because without money, how can we maintain a long Health Span? Even with advanced medical technology, if we don't have access to treatment, good health may not be achievable."

Therefore, the goal of life planning in a world of longevity is not simply to live as long as possible, but to ensure that Life Span, Health Span, and Wealth Span are balanced and progress together.

Savings and financial protection help bridge the gap between a healthy life and the entire lifespan, enabling people to access healthcare, long-term care, and a quality life after retirement.

Medical inflation: an unavoidable challenge.

Mr. Sara stated that Thailand's medical inflation rate is around 10%, which is considered high, although it may be lower than some countries in the Asia-Pacific region.

Key factors include new technologies and treatment innovations, the use of more efficient medical equipment, healthcare personnel costs, and the increasing number of elderly and chronically ill patients.

Muang Thai Life Assurance therefore needs to develop more flexible health insurance products, giving customers the opportunity to choose coverage structures that suit their needs and budget, such as using a deductible and copayments.

In addition, the company has developed options that allow customers to adjust their coverage when they reach retirement age without needing to undergo new health checks for certain conditions, so that their health insurance can continue even as health risks increase.

Design insurance coverage to meet the changing needs of your life.

Muang Thai Life Assurance has developed various products to manage risks throughout life, including health insurance, critical illness insurance, disability insurance, whole life insurance, term life insurance, savings insurance, unit-linked insurance, universal life insurance, and annuity insurance.

Regarding critical illness insurance, the company offers both products that pay benefits upon the initial diagnosis of a critical illness, and products that provide coverage for multiple critical illnesses or stages, to suit current treatment options. Patients may recover from one illness but remain at risk for other illnesses in the future.
The company is also focusing on more personalized underwriting, including discussions with reinsurance companies to provide greater access to coverage for individuals with a history of certain illnesses, under appropriate terms and risk assessments.

Regarding disability coverage, Sara believes that the definition of risk may need to change in line with medical technology. In the future, some patients may not suffer permanent disability but may need to stop working for 1-2 years for treatment and rehabilitation.

Therefore, products that compensate for lost income during periods of unemployment, or disability income, may play an increasingly important role in supporting the lives of working-age people.
Convert your insurance coverage into retirement healthcare funds.

One approach that Muang Thai Life Assurance has developed is allowing customers to use a portion of their life insurance coverage to cover healthcare expenses when they reach a certain age.

Mr. Sara gave an example: If a client has a life insurance policy with a sum insured of 10 million baht, upon retirement they may be able to use a portion of the sum to cover medical expenses for both inpatient and outpatient care, according to the terms of the insurance policy, without having to surrender the entire policy.

If the money is not fully used and the insured passes away, the remaining amount can be passed on to the heirs, thus addressing both the need for self-care in later life and the purpose of ensuring financial security for the family.

This concept aligns with the social structure of Thailand, which still prioritizes family. Policyholders can use their assets to care for their own health, without leaving behind debt or medical expenses for their dependents.

From insurance salesperson to lifelong consultant.

Mr. Sara emphasized that simply having a diverse range of products is not enough; sales channels must be developed to function more as advisors.

Advisors must understand their clients' life goals, financial status, debt burden, family structure, health risks, and risk tolerance before selecting appropriate products.

"Life insurance doesn't end the day the customer purchases the policy. Some contracts may stay with the customer for 99 years or even longer. Therefore, we need to consider every aspect, from sales and product design to underwriting, after-sales service, claims payment, and post-life care."

Therefore, Muang Thai Life Assurance aims to create an ecosystem that connects its products, healthcare services, medical facilities, elderly care, and asset transfer planning.

The company also collaborates with life planning and will partners to help clients prepare comprehensively in advance, from managing finances and healthcare to asset management and defining end-of-life wishes.

Supporting the lives of single people and elderly individuals without caregivers.

Changing family structures have led many people to choose to marry without children or to live single lives. Therefore, Muang Thai Life Assurance is focusing on Independent Living systems and senior care services that can be integrated with life insurance policies.

Some products are designed so that, in the event of a specified occurrence, such as a stroke, Alzheimer's, or dementia, the company can pay benefits to a care provider or nursing home according to the terms and conditions, instead of just paying the insured directly.

This approach helps those without children or family members to provide care to plan their own care in advance, reducing the risk of lacking a financial manager or caregiver when they are unable to make decisions on their own.

Build health literacy so customers can take care of themselves.

Beyond covering medical expenses, Muang Thai Life Assurance also emphasizes health literacy to empower people to better care for and manage their own health.

The company creates educational content from expert doctors from both public and private hospitals, covering important topics such as Alzheimer's, sleep, chronic diseases, disease prevention, and appropriate exercise.

"Sleep is a clear example. Many people may think it's a minor issue, but insufficient rest affects the brain, memory, and long-term health. Medical knowledge helps people understand and adjust their behavior before illness occurs."

The company promotes health and fitness activities not just as a trend or fad, but aims to help people understand how to exercise correctly, such as controlling heart rate, exercising in the appropriate zone, and choosing activities based on individual physical condition.
Connecting a network of over 700 healthcare facilities.

Muang Thai Life Assurance is moving forward with a pilot program offering primary care services through its healthcare centers under the name Care Power. The pilot program is being conducted in both the head office and the eastern region, which represents a key customer base for their group insurance products.

The company is also connected to approximately 700–750 medical facilities nationwide and has developed a network of partner hospitals under the MTL Smile Hospital Network concept to enhance customer experience and improve the efficiency of care for both individual and group insurance clients.

Creating such a network not only facilitates access to services but also enables companies, hospitals, and clients to jointly manage healthcare costs appropriately in the long term.

The lifestyles of the younger generation will no longer be linear.

Mr. Sara believes that the patterns of education, work, and retirement for the younger generation will change significantly from the past.

Previous generations may have had a relatively clear life path: graduate, work, continue education, get married, and retire. However, younger generations might finish high school and start working first, then return to university later, take a break to travel or learn new skills, and then re-enter the workforce.

Some people may have multiple careers simultaneously, work in the gig economy, or transform their post-retirement period into a break from life at a young age.

"Suppose someone lives to be 90 and originally planned to retire at 60. That gives them another 30 years after retirement. However, younger generations might spread some of those 30 years across their mid-life, such as taking a 1-2 year break to travel, pursue further education, or find themselves, before returning to work again."

In a world where life isn't linear, insurance products and financial services need to be more flexible, offering flexibility in premium payments, coverage, investments, periods of unemployment, and income generation across multiple stages of life.

Knowledge is short-lived, so working professionals must constantly develop themselves.

Another risk in an aging world is that knowledge and skills may become obsolete more quickly. Technology and AI enable younger generations to access information and learn faster than before.

Mr. Sara acknowledged that people in their late 20s today may have greater technological skills and understanding than previous generations of the same age, having grown up with digital technology and having access to knowledge from a young age.

The worrying thing is that if people have to live and work longer, but their skills become obsolete within a few years, their income and wealth span could be impacted.

Therefore, working adults must engage in lifelong learning to ensure they can continue working after retirement, pursue a second career, or generate income from newly acquired skills.

Developing a T-shaped workforce reduces silo problems within an organization.

Regarding human resource development within Thai Life Assurance, Mr. Sara stated that the company aims for employees to develop from individuals with specialized knowledge in only one dimension to T-shaped personnel.

T-shaped personnel must possess deep expertise in their field while simultaneously understanding the overall business landscape from upstream to downstream, encompassing product development, sales, marketing, warranty claims, after-sales service, and claims processing.

"Customers view Muang Thai Life Assurance as a single organization. They don't see that this matter lies with the product department, the underwriting department, or the service department. Therefore, we need to reduce siloed thinking and allow people to see the customer experience from beginning to end."

In addition to insurance knowledge, all employees must understand digital technology, data, AI, laws, regulations, and personal data protection laws, regardless of their department.

The company prioritizes job rotation, upskilling, and cross-functional learning, including reverse mentoring, which allows younger generations to share their perspectives, technology, and modern consumer behavior with older executives and personnel.

"The younger generation isn't just subordinates; often, they can be thought leaders and help us understand a world we don't have access to. Reverse mentoring is therefore very important."

Longevity requires caring for physical, mental, and financial well-being.

Mr. Sara concluded that preparing for an aging world cannot rely solely on insurance products, but must also include financial literacy, health knowledge, skills development, retirement care planning, and mental well-being.

Besides exercising and taking care of your body, building self-confidence, self-esteem, and doing things that make you happy is also an investment in life.

"Self-care doesn't have to be limited to treating illnesses. Doing things that boost your confidence or bring you peace of mind is an investment in your life, because mental health impacts your thinking, your lifestyle, and your physical health in the long run."

For Muang Thai Life Assurance, the future role of the insurance business is not just about paying out when an event occurs, but about helping people plan their lives while they are still healthy, have income, and can make their own decisions.

The main goal is to help Life Span, Health Span, and Wealth Span move in a balanced way, so that Thais not only live longer but also live a high-quality life, have sufficient funds, and do not leave a burden on their families.

“Today, we need to seriously reconsider wealth because a strong wealth span contributes to a longer health span and helps bridge the gap between the day when health begins to decline and the remaining lifespan. Having proper insurance, savings, and investments is therefore an essential part of preparing for an unavoidable world of longevity.”

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