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Life Insurance: Retirement 60/5

​5-year premium payment, get covered until attaining the age of 60. ​Receive cash bonus every 2 policy years*.

Receive 100% maturity benefit when attaining the age of 60​.​


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Key Features​

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Insurance Details​
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Benefits​
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Coverage​​
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Short-term payment, get money upon retirement

Only 5-year premium payment, get big maturity benefit when reaching 60 years old

 

Get cash bonus every 2 policy years

Receive 2%* cash bonus every 2 policy years
(except the end of policy maturity year)

 

Eligible for tax deduction**

For life insurance premium only

*Except the end of policy maturity year

**According to the Notification of the Director-General of the Revenue Department on Income Tax No. 172 ann​ounced on 30 December 2008

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Insurance Details

 

Premium payment period

5 years

 

Premium payment mode

Quarterly, semiannual or annually

 

Insurable age

1 month old - 50 years old

 

Minimum sum insured

100,000 Baht

 

Additional condition:

Able to purchase rider

Remark:

Underwriting is subject to the Company’s rules.

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Benefits​

 

Note: ​% benefits and coverage of the sum insured as of the contract start date.


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Coverage
  • Receive 2% cash bonus of the initial sum insured every 2 policy years from the end of policy year 2 onwards (except the end of policy maturity year)
  • When reaching contract maturity, receive 100% maturity benefit of the initial sum insured once attaining the age of 60
  • Receive 100% life coverage of the sum insured or the surrender value at that time (whichever is higher)
  • Waiver of premium payment in case the insured becomes totally and permanently disabled*

*Waiver of Premium for Insured Benefit Rider (for the insured aged 20 – 59 years old)

Exclusions
  1. In case the insured commits suicide by own will within one year from the insurance contract formation date or the latest date of renewal or reinstatement of the insurance policy.
  2. In case the insured is murdered intentionally by the beneficiary.
  3. In case the insured misstates their age and the Company can prove that the actual age on the date of insurance contract formation is outside the premium rate limit according to the Company's normal business practice.
Life Insurance Provider

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

Remarks

  • Benefits and coverage are in % of the initial sum insured.
  • Life insurance premium of this insurance plan is eligible for personal income tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax No. 172 announced on 30 December 2008.
  • Benefits, coverage and exclusions shall be in accordance with the conditions stated in the insurance policy.
  • Underwriting is subject to the Company’s rules.
  • 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.
  • Warning: Buyer should have an understanding in details of the coverage and conditions before making a decision to purchase an insurance every time.
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Frequently Asked Questions

What is the insurable age of Life Insurance : Retirement 60/5 ?

1 month old – 50 years old

What is the minimum sum insured of Life Insurance : Retirement 60/5 ?

100,000 Baht

How much is the annual premium of Life Insurance: Retirement 60/5 ?

For those aged 1 month to 50 years old in good health, and a sum insured of 100,000 Baht, the annual premium would be:

  • Annual premium: 13,340 – 19,697 Baht (Male)
  • Annual premium: 12,833 – 19,697 Baht (Female)
Does Life Insurance: Retirement 60/5 provide cash bonus during the insurance contract ? How ?

There is 2% cash bonus of the initial sum insured paid every 2 policy years (except the end of the policy maturity year). Upon attaining the age of 60, the insured shall receive 100% maturity benefit of the initial sum insured.

How is death coverage during the contract of Life Insurance: Retirement 60/5 ?

100% life coverage of the initial sum insured or the surrender value at that time (whichever is higher) throughout the contract period.

If the insured becomes totally and permanently disabled, will the insured be exempted from premium payment ? How ?

The insured aged 20 – 59 years old will receive the waiver of premium payment of the insured benefit if the insured becomes totally and permanently disabled.

If the insured commits suicide after the contract has been effective for 3 years, will the Company pay benefit to the beneficiary ? How ?

The Company shall not provide coverage if the insured voluntarily commits suicide within 1 year after the contract effective date or the latest date of renewal or reinstatement of the insurance policy. For this case, if the insurance contract has been effective for 3 years, the Company shall pay the benefit to the beneficiary at 100% of the initial sum insured.​

Can the insured purchase rider ?

The insured can purchase rider such as accident coverage, medical expense coverage and critical illness coverage depending on each contract. In this regard, underwriting is subject to the Company’s rules.

Is the premium of Life Insurance: Retirement 60/5 eligible for personal income tax deduction ?

It is eligible for personal income tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax No. 172 announced on 30 December 2008. The insurance company will issue a certificate of premium payment as evidence for tax deduction.


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