The Aspen Tree by MQDC partners with Muang Thai Life Assurance

Delivering Superior Health Coverage 'Elite Health'

March 8, 2021, Bangkok – “The Aspen Tree” is a long-term living project by Magnolia Quality Development Corporation Limited (MQDC) in collaboration with Muang Thai Life Assurance, a leader in life and health insurance, offering comprehensive health coverage with 'Elite Health'. This coverage includes protection against serious illnesses, common diseases, and epidemics, as well as accidents, with a maximum coverage of 20 million baht per year from the signing of the contract during the construction phase, increasing to 40 million baht per year upon project completion and successful transfer of lease rights, providing coverage until the age of 99. This initiative addresses the needs of a quality living environment for the elderly, making it the first comprehensive community for seniors in Thailand.

 

Mr. Wisit Malaisirirat, CEO of Magnolia Quality Development Corporation Limited (MQDC), stated that the The Aspen Tree project is a residential community that provides lifelong care services for individuals aged 50 and above. The project is equipped with residential facilities, amenities, and comprehensive services, creating a quality living community for seniors, the first of its kind in Thailand and the most comprehensive in Southeast Asia, as part of The Forestias, a city-in-the-forest project covering 398 rai in Bangna.

The Aspen Tree project emphasizes preventive health care services combined with Health & Wellness programs through daily activities and recreational options suitable for seniors, promoting physical, mental, and cognitive health. Additionally, it offers comprehensive services and facilities. Importantly, The Aspen Tree is the first project focused on Holistic Lifetime Care, supported by a team of health experts to ensure residents live without worries. The project collaborates with Baycrest Global Solutions, a Canadian organization with over 100 years of experience and a global leader in developing residential care for seniors, along with trained caregivers to establish high standards of elderly care and provide the best services to residents.

Another key aspect of The Aspen Tree project is prioritizing the safety of residents. It features a modern security system covering all areas of the project to build trust among residents, designed as a Car-Free Community with 60% of the area dedicated to beautiful green spaces, allowing residents to safely enjoy communal gardens while reducing the risk of traffic accidents within the project area. This provides maximum freedom in living while adhering to the concept of 'Ageing-In-Place', enabling residents to live freely and safely in their environment and home, while maintaining a balance with the surrounding community and nature, along with comprehensive health care connections.

“According to data from the United Nations Population Fund (UNFPA), currently, 13% of Thailand's population is over 60 years old, with a continuously increasing growth rate, marking Thailand's entry into an aging society. MQDC places great importance on studying the needs and issues of the elderly, leading to the development of The Aspen Tree project to ensure seniors can live happily and healthily. Construction of The Aspen Tree began in January 2020, with completion expected in the third quarter of 2023. The Aspen Tree focuses on lifelong care to allow residents to live happily and worry-free. We are proud to partner with Muang Thai Life Assurance Public Company Limited, a leading life and health insurance company in Thailand,” Mr. Wisit stated.

 

Mr. Sara Lamsam, Managing Director and CEO of Muang Thai Life Assurance Public Company Limited, expressed great pleasure in being part of providing a special experience for customers of The Aspen Tree project with the 'Elite Health' coverage, distinguished by its superior protection, guaranteed by the 'Product of the Year 2020' award. This coverage includes benefits for serious illnesses, common diseases, epidemics, and accidents, along with targeted cancer treatment, outpatient MRI or CT scan diagnostics, and ICU stay coverage for 365 days on a reimbursement basis, with coverage specifically in Thailand. The maximum coverage is 20 million baht per year during the construction phase and will increase to 40 million baht per year upon project completion and successful transfer of lease rights, which is a special privilege selected for customers of The Aspen Tree project, providing long-term care coverage until the age of 99 (subject to the company's underwriting criteria).

 

Additionally, customers of The Aspen Tree project with 'Elite Health' coverage will receive the best service through the “MTL Smile Service, providing more value than just coverage,” addressing service needs across all lifestyles.

 

Through innovative services and modern technology, including the MTL Click application, MTL Health Buddy service, and the ability to join the Muang Thai Smile Club for exclusive benefits and activities.

 

“The collaboration between Muang Thai Life Assurance and The Aspen Tree represents a significant milestone in responding to the aging society era, enhancing the experience for customers planning long-term living through superior coverage, aligning with our commitment to addressing the needs of the aging society. We have developed and designed products and services that meet the specific needs of this group to establish standards for elderly care and provide the best quality services to residents,” Mr. Sara stated.

 

Note: - Underwriting is subject to the company's criteria.

- The award for the premium health insurance product 'Elite Health' from the 'PRODUCT OF THE YEAR AWARDS 2020', organized by BUSINESS+ magazine in collaboration with Mahidol University.

 

Warning: Buyers should understand the details of coverage and conditions before deciding to purchase insurance.