8 March 2021, Bangkok –The Aspen Tree, a residential community with lifetime care by MQDC – Magnolia Quality Development Corporation Limited, has joined forces with "Muang Thai Life Assurance", the leader in life and health insurance, to offer outstanding “Elite Health” coverage for serious illness, common and infectious diseases, and accidents. Residents enjoy instant coverage of up to THB20 million/year after signing the contract during project construction, rising to THB40 million/year on project completion and leasehold transfer. Coverage lasts up to 99 years of age to ensure quality living at Thailand’s first holistic lifetime care and full-service community for older adults.
Mr. Visit Malaisirirat, CEO of MQDC, said that The Aspen Tree is the country’s first and ASEAN’s finest healthy living community with holistic lifetime care. It’s a community for resident with long-term plan to ensure healthy, fulfilling life ahead, complete with residences, facilities, and service for residents of 50 years and over. The project is part of The Forestias, a forested neighborhood across 398 rai in Bangna.
The Aspen Tree offers full spectrum services and preventive care combined with Health & Wellness program features daily activities and leisure opportunities suitable for older adults that help promote physical, mental, and brain health. In keeping with the focus on the living of the elderly, The Aspen Tree has collaborated with world-class partners Baycrest Global Solutions, a global leader in residential living, healthcare, research, innovation, and education, with a special focus on brain health and aging that has cared for older adults in Toronto, Canada for over 100 years experiences. Along with certified healthcare specialists to ensure high standard in older adults’ care and services.
Security is another key focus of The Aspen Tree. A high-tech and first-class standard of security system covers all areas of the project to assure residents of their safety. The car-free community also dedicates 60% of its common areas to beautiful green spaces. Residents can safely enjoy these lush gardens in a walkable district that reduces the risk of car accidents and offers the greatest lifestyle freedom. Under The Aspen Tree’s “Aging-In-Place” concept, residents can freely and safely enjoy their homes and surroundings, connected with nature and the community and with access to comprehensive healthcare.
"The United Nations Population Fund (UNFPA) estimates that 13% of Thais are 60 or over. This gathering trend has already turned Thailand into an aging society. MQDC has researched the needs of older adults to develop The Aspen Tree for their health and happiness. The Aspen Tree started construction in January 2020 and is set to complete in the third quarter of 2023. The Aspen Tree focuses on lifetime care for residents to live happily and free from worry. To achieve this goal, The Aspen Tree is extremely proud to partner with Muang Thai Life Assurance as a leading Thai life and health insurance company,” said Mr. Malaisirirat.
Mr. Sara Lamsam, President and Chief Executive Officer of Muang Thai Life Assurance Public Company Limited, said the Company is delighted to partner with the project to deliver a unique experience for The Aspen Tree customers with “Elite Health” insurance plan offering superior coverage guaranteed by Product of the Year Awards 2020. It provides coverage for critical illnesses, general diseases and epidemics including accidents. It covers OPD benefit including cancer treatment with targeted therapy, MRI or CT scan. It also provides coverage for hospitalization in ICU room for up to 365 days according to the actual amount, and the coverage area is only in Thailand. During the project construction period, the coverage is up to 20 MB per policy year, and it shall be increased to up to 40 MB per policy year when the project construction and leasehold right transfer are completed. This is an exclusive privilege from The Aspen Tree and Muang Thai Life Assurance provided for the project’s customers with an aim to offer long-term care with coverage period until the age of 99. (Underwriting is subject to the Company’s rules.)
Moreover, apart from receiving “Elite Health” insurance plan, The Aspen Tree customers are also entitled to “MTL Smile Service, Beyond Normal Coverage”. The services are designed to meet the needs of all lifestyles through service innovation and technologies including MTL Click Application and MTL Health Buddy Service. The customers can also apply for Muang Thai Smile Club membership to receive privileges and participate in exclusive activities and campaigns.
“This collaboration between Muang Thai Life Assurance and The Aspen Tree is a significant development in responding to the aging society and providing new ways for customers to plan their lives with superior protection in line with our long-term commitment to placing the importance on the aging society, developing products and services that precisely meet the needs of such customers, and setting a standard of care for the elderly and giving them the best quality service,” said Mr. Sara Lamsam.
Remark: -Underwriting is subject to the Company’s rules.
- "Premium Health Insurance Product for Elite Health Insurance" from "Product of the Year Awards 2020" Product Excellence in New Normal Era 2020 arranged by BUSINESS+ Magazine and Mahidol University
Warning: Buyers should have an understanding in the details of coverage and conditions every time before entering into an insurance contract.
More information: Email to IR@MQDC.com