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Byline: Charoen Kittikanya
Aug. 5--In a bid to tap the growing number of aging people, the low-profile general insurance arm of American International Group (AIG), New Hampshire Insurance, yesterday introduced its Happy Age personal insurance package for people aged 50-75 years.
"Aging people in the range of 50-75 years are growing in numbers in Thailand, and environmental and cultural changes have led them to more outdoor activities," said Wichai Srichaimonkol, senior vice-president and deputy country manager of New Hampshire Insurance.
"The market, therefore, provides untapped business potential."
The personal accident insurance policies currently available in the market generally do not cater to clients aged more than 60.
Mr Wichai quoted the latest information from the National Statistical Office which forecast those in the 50-75-year age group would increase to more than nine million by 2015, compared with three million in 1985.
The Happy Age policy could also be extended to policyholders aged up to 80 years. No inquiry into clients' health is required.