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TISCO: Thai families urged to boost immunity with 'Family First-3 Save Series'

TISCO: Thai families urged to boost immunity with 'Family First-3 Save Series'

Prachachat•Economy•27d ago

Reader Briefing

TISCO emphasizes the need for Thai families to enhance financial and health resilience against escalating risks through a comprehensive 'Family First-3 Save Series' approach.

  • •TISCO highlights increasing risks for Thai families, including economic volatility, high healthcare costs, climate change, and an aging society.
  • •The 'Family First-3 Save Series' is proposed as a 'Family Risk Management System' to cover health, income, assets, and long-term future.
  • •This initiative aims to provide personalized protection by selecting products from over 15 insurance partners, addressing individual family needs.
  • •Specific strategies are tailored for different family structures, such as singles and sandwich families, to ensure financial stability.

Overview

  • •TISCO notes that Thai families are facing multiple risks like economic fluctuations, rising healthcare costs, climate change, and rapid technological transformation.
  • •Methas Rattanasorn states that closing these risks at both household and national levels is essential for Thailand's economic immunity.
  • •The global medical trend survey indicates healthcare costs in Thailand are growing at 10.8% annually, exceeding the global average.
  • •The Thai economy may grow less than 1% if the Middle East conflict intensifies, with the baht potentially weakening to 35 baht per US dollar.
  • •Thailand may lose 7-14% of its economic value by 2050 if it fails to adapt to the impacts of global warming.
  • •Thailand is moving towards a 'Super Aged Society,' with the elderly population expected to reach 28% within 3-4 years.
  • •Over 35.7% of elderly individuals rely on their children, and 33.9% must continue working to sustain themselves.
  • •Soroj Sivapaiboon explains that TISCO's 'Family First – 3 Save Series' functions as a family balance sheet, addressing savings, risk, and asset protection.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Methas Rattanasorn
"Closing these risks mentioned is extremely necessary at both household and national levels, so that the Thai economy has immunity to these risks that may be overlooked but can be managed in the future."
การปิดความเสี่ยงต่างๆ ที่ได้กล่าวไปข้างต้นเหล่านี้จึงมีความจำเป็นอย่างยิ่งทั้งในระดับครัวเรือน และในระดับประเทศ เพื่อให้เศรษฐกิจไทยมีภูมิคุ้มกันต่อความเสี่ยงที่อาจถูกละเลยแต่สามารถจัดการได้เหล่านี้ในอนาคต
Soroj Sivapaiboon
"A common problem is that existing coverage is insufficient where needed, or there are multiple policies that are not coordinated, creating gaps families never see until an incident occurs and they realize the system has leaks."
ปัญหาที่เราเห็นบ่อย คือความคุ้มครองที่มีอยู่ไม่พอในจุดที่จำเป็น หรือมีหลายฉบับแต่ไม่สอดประสานกัน เกิดช่องว่างที่ครอบครัวไม่เคยมองเห็น กระทั่งวันที่เกิดเหตุ จึงรู้ว่าระบบมีรอยรั่ว

Key Entities

Organization

TISCOℹ️
A financial institution recommending risk management strategies for Thai families.
TISCO Economic Strategy Unit(ศูนย์วิเคราะห์เศรษฐกิจและกลยุทธ์ทิสโก้)
An economic analysis and strategy unit within TISCO.
World Bank(ธนาคารโลก)ℹ️
An international financial institution, cited for its report on Thailand's climate and development.
National Statistical Office(สำนักงานสถิติแห่งชาติ)ℹ️
A government agency providing data on household expenses for the elderly.
TISCO Bank Public Company Limited(ธนาคารทิสโก้)
A bank involved in developing the 'Family First – 3 Save Series' insurance and protection system.

Person

Methas Rattanasorn(นายเมธัส รัตนซ้อน)
Head of Economics and Research at TISCO Economic Strategy Unit, providing insights on economic outlook and risks.
Soroj Sivapaiboon(นายโสฬส ศิวะไพบูลย์)
Head of Bancassurance at TISCO Bank Public Company Limited, explaining the 'Family First – 3 Save Series' concept.