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Retirement 60 (1)
 

This Insurance Policy is offered by Thai Life Insurance Public Company Limited

ICBC (Thai) is a licensed life insurance broker.

Bank will provide any services and be responsible for life insurance broker only.

 

Ready for your retirement from today by having financial plan with confidence

• Assisting your financial plan
Savings with efficiency and confidence for 5 years only
• Receiving pension on annual basis
Annually at 15% of Sum Assured at 60th Policy Year up to maximum 90th Policy Year
• Assuring pension payment up to 20 years
In case of death before 20-year pension, the sum of remaining pension shall be paid
• Tax reduction
Insurance premium after tax reduction up to THB 300,000 based on the criteria of Revenue Department
• In case of unexpected events
Causing permanently disability, the company shall be responsible for premium payment on continual basis in which insurer is still eligible for benefits throughout insurance policy (particularly standard risks)

Condition

• Insurance Term up to 90 years of age
• Insurance Premium Payment 5 years
• Male/Female aged 20-55 years
• Minimum Sum Assured of THB 50,000
• Premium Payment on annual basis
• Insurance Premium Rate based on gender and age

Documents for Admission

1 Insurance Application Form
2 Certified Copy of ID
3 Refund Request Form as Conditioned
4 Evidence of 1st Year Premium Payment such as Temporary Receipt

Sample of Benefits for Male Insurer aged 40 years with THB 100,000 Sum Assured and 5-year Premium Payment at THB 37,720/year

Insured’s Age Annual Premium Annual Paid-up Policy 20 years of Pension** Life Coverage***
% of Sum assured Amount
40 37,720       100,000
41 37,720       100,000
42 37,720       113,160
43 37,720       150,880
44 37,720       188,600
59 -       247,700
60 - 15% 15,000   255,100
61 - 15% 15,000 221,303  
77 - 15% 15,000 43,703  
78 - 15% 15,000 29,654  
79 - 15% 15,000 15,000  
80 - 15% 15,000    
81 - 15% 15,000    
89 - 15% 15,000    
90 - 15% 15,000    
Total 188,600 465% 465,000    
Benefit over Premium 276,400 บาท          

** If Insured person pass away with in guarantee benefit period (20 installment), Insurer will be paid lump sum of remaining amount equivalent to Paid Present Value of remaining guarantee benefit
*** Highest value between Cash Value or Sum Assured or Paid premium

Note
1. Retirement 60 is the marketing name. The name in policy will be shown as “ทัรพย์บำนาญ 60(1)”
2. For optimum benefit of the insured, the insured should keep policy in force until its maturity. The benefit will be paid under policy condition without tax deduction. No creditor is entitled to part or all policy benefits, except amounts of premium paid.
3. Premium payment is an insured’s responsibility. ICBC (Thai) as a life insurance broker, premium collection by Bank is only additional service provide. The insured is able to pay renewal premiums through various channels such as Thai Life’s branch offices, ICBC (Thai) counters, post offices, counter service, other banks, etc. For more information, please read from the policy booklet.
4. Credit card payment (VISA/Master) is available for first year only.
6. Life insurance premium is eligible for tax-deductible for actual amount paid but not exceeding 100,000 bath per year. (According to the revenue department director’s announcement No.172)
7. in additional, Life insurance premium for retirement plan is eligible for tax-deductible for actual amount paid but not exceeding 200,000 bath per year. (According to the revenue department director’s announcement No.194)
7. The applicant should study policy provisions thoroughly before applying for insurance and must make the correct declaration at the time of application.
8. Information in this proposal is only the basic information which used in the selling process only. You should study for more information about coverage, terms and conditions, and the benefit from insurance policy.

Any further questions, Please contact Thai Life Insurance (Tel 02247 0247)


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