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Mortgage Shield Property Insurance (Home)
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Safeguard your property for your loved ones.
Worryfree even when unforseeable events occur.
Insured period of your choice
5 - 30 years
Single premium payment
Coverage for death
and total permanent disability*
(either case)
Tax deductible**
For personal income tax
*According to the reduced sum insured.
**Only life insurance premiums are eligible for personal income tax deduction as per a declaration of the Revenue Department director general regarding income tax, issue 172, announced on December 30, 2008 for an insurance term of 10 years and above.
Benefits
Note: The above coverage is based on the assumption that the customer has a history of normal loan payments according to the bank's loan agreements.
Coverage and Conditions
Coverage |
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- Death coverage is equal to the reducing sum insured for the month in which the insured dies, according to the table of reducing sum insured in the policy, and the contract will terminate
- Coverage for one of the following cases for total permanent disability:
- In case of total permanent disability in which disability occurs before reaching the policy date in the year the insured turns 65 years of age and the disability continues for no less than 180 days, the company shall pay interest equal to the reducing sum insured at the beginning of the month of the permanent disability as in the table of reducing sum insured in the policy, and the contract will terminate
- In case of total permanent disability that can be clearly proven or is as confirmed by a statement from a doctor, the company shall pay interest equal to the reducing sum insured at the beginning of the month of the permanent disability as in the table of reducing sum insured in the policy, and the contract will terminate
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Life Insurance Provider
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Life Insurance Company
Muang Thai Life Assurance Public Company Limited | Life Insurance Broker
Kasikornbank Public Company Limited as the brokerage firm License No. Chor. 00024/2546 |
Note:
- KASIKORNBANK PCL, as life insurance broker, presents life insurance products and facilitates payment of premium only. Muang Thai Life Assurance Public Company Limited is responsible for the conditions, coverage and entitled benefits as stated in the insurance policy conditions.
- Buyer should have an understanding in details of the coverage and conditions before making a decision to purchase an insurance every time.
- Underwriting is subject to the Company’s rules.
- Benefits, coverage and exclusions shall be in accordance with the conditions stated in the insurance policy. Please study the additional details in the policy.
- Only life insurance premiums are eligible for personal income tax deduction as per a declaration of the Revenue Department director general regarding income tax, issue 172, announced on December 30, 2008 for an insurance term of 10 years and above.
Frequently Asked Questions
What is Property Shield Home Insurance ?
This is a guarantee for home loans as a group, with a one-time premium payment. It is intended to protect the family of the borrower from liability in case of unforeseen events such as the insured’s death or permanent disability, according to the reduced amount of the sum insured as of the month of the insured’s death.
What is the minimum period of coverage ?
The insurance period can be selected to match the loan period, from 5 to 30 years.
How much is the insurance premium ?
The premium depends on the gender and age of the insured, the insurance period, and the amount insured.
What is the reducing sum insured ?
It is the sum insured, as specified in the table showing the decreasing sum insured. The sum insured will decrease each year, consistent with the amount the insured owes. (The duration of the insurance period must be equal to the period of the loan. Also, the insured must have good history of regular payments on the loan agreement with the bank.)