CIMB THAI Max Value Savings 15/5

Key Features

• Pay premiums for only 5 years and enjoy coverage for up to 15 years, Easy application process with no medical examination or health questionnaire required. (subject to the company’s terms and conditions)
• Confident with a full return of total premiums paid¹, Every 2 policy years, receive guaranteed cashback of 1% of the sum assured. Total benefits throughout the policy term amount to 507% of the sum assured.
• Global Investment Opportunities. Enhance your potential returns with access to world-class investment funds managed by Eastspring Investments, with the possibility of receiving dividends² (if any) upon policy maturity.
• Enjoy life protection of up to 525% of the sum assured³, along with potential dividend payouts² (if any).
• Tax benefits, Up to THB 100,000 per year (according to conditions prescribed by the Revenue Department

¹The insured should continuously pay the premium through to the end of the premium payment period and holds the policy until the end of the policy contract. If the policy is terminated before the end of the contract, The insured may not receive cash benefit in the amount equivalent to the maximum policy benefit he/she is entitled to, or in the amount equivalent to all premiums paid.

²The opportunities to receive dividend payouts are based on the ‘Eastspring Global Diversified Multi Asset Index.’ However, dividends are non-guaranteed benefits. The dividend amount is determined by the return from the index level on the policy maturity date, the date of death of the insured from the 2^nd policy year onwards, or the date of Surrender Request from the 6^th policy year onwards. The dividend rate will be as specified in the policy.

³Receive the greater of the surrender value of the policy, total premiums paid, or death benefit according to the 5^th - 15^th policy year.

Tax Benefits

Premium of life insurance plan is entitled to annual tax deduction up to THB 100,000 per year (according to conditions prescribed by the Revenue Department)

Product Features

Premium Discount Rate

The premium discount rates have been approved by the Office of Insurance Commission (OIC).

Benefit

¹The opportunities to receive dividend payouts are based on the ‘Eastspring Global Diversified Multi Asset Index.’ However, dividends are non-guaranteed benefits. The dividend amount is determined by the return from the index level on the policy maturity date, the date of death of the insured from the 2^nd policy year onwards, or the date of Surrender Request from the 6^th policy year onwards. The dividend rate will be as specified in the policy.

Example of dividend calculation 

Note

1. “CIMB Thai Max Value Savings 15/5” is the marketing name of the endowment policy “PRUSavings 15/5 (3)” (Par)

2. This is a life insurance product. It is not a bank deposit. To maximize the benefits from the insurance policy, the insured should continuously pay the premium through to the end of the premium payment period and hold the policy until the end of the contract. If the policy is terminated before the end of the contract, the insured may not receive the maximum benefits from the policy or the full amount of premiums paid.

3. Policy benefits are tax-free and are not subject to legal enforcement (except for insurance premiums that have already been paid).

4. It is the insured’s responsibility to pay premium. An insurance agent or broker that accepts a premium payment by the insured is solely for the purpose of providing service to the insured.

5. The insured has the right to cancel the policy within 15 days from the date of receipt of the policy document. The Company will refund the premium after deducting the company’s expenses of THB 500 and health checkup fee (if any). The company will charge an administrative fee of THB 500 per policy, except in cases where the life insurance policy is offered through electronic means. In such cases, the company will refund the full premium without any deductions. In the event that the insured has already made a claim for compensation, the insured shall no longer have the right to cancel the policy.

6. The insured has the right to surrender the policy. After deducting any amounts owed to the company (if any), the insured will receive the surrender value as specified in the policy value table, along with any other benefits (if any) or choose to convert the policy to extended term insurance or change it to Reduced Paid-up according to the conditions specified in the policy.

7. The applicant has a duty to disclose all material facts truthfully when applying for insurance. Any concealment or misrepresentation may entitle the insurer to void the insurance contract and deny payment of any benefits under the policy.

8. The underwriting decision and conditions are subject to the Company (Prudential Life Assurance (Thailand) Public Company Limited)’s underwriting rules and criteria.

9. This document provides essential information about the insurance plan. The insured should read and study additional details regarding benefit payment terms, conditions, requirements, exclusions, and policy benefits outlined in the insurance policy issued by the company.

10. Insurance policy exclusions

  (1) In the event of non-disclosure or misrepresentation, the company will terminate the contract within 2 years from the effective date or renewal or reinstatement of the insurance policy or the approval date to increase the sum assured (only for the increased part).

  (2) In the event of suicide within one year from the policy effective date or renewal or reinstatement or the approval date to increase the sum assured (only for the increased part), or the insured gets   intentionally murdered by the beneficiary.

 (Please refer to the details of the coverage exclusions as specified in the life insurance policy and any riders)

11. Premium of life insurance plan is entitled to annual tax deduction up to THB 100,000 according to conditions prescribed by the Revenue Department.

12.CIMB THAI BANK Public Company Limited, is a life insurance broker and has responsibility for an action as a life insurance broker only. This insurance product is underwritten by Prudential Life Assurance (Thailand) Public Company Limited.

13. If you have any questions or require any further information, please contact:

o   Any branches of CIMB THAI BANK Public Company Limited, CIMB Thai Care Center 02 626 7777, CIMB Thai website www.cimbthai.com

o   Prudential Life Assurance (Thailand) Public Company Limited. Customer Service Center Tel.1621 (during office hours), LINE: @ PrudentialThailand, or email: hotline@prudential.co.th

14. The applicant may submit a complaint to the following channels:

o   Customer Service Center, Prudential Life Assurance (Thailand) Public Company Limited 944 Mitrtown Office Tower, 10th, 29th–31st Floors, Rama IV Road, Wangmai, Pathumwan, Bangkok 10330 Tel: 1621 (during business hours) LINE: @PrudentialThailand Email: hotline@prudential.co.th

o   Any branches of CIMB THAI BANK Public Company Limited, CIMB Thai Care Center 02 626 7777, CIMB Thai website www.cimbthai.com

o   Office of Insurance Commission (OIC) - Insurance Hotline: 1186

o   Bank of Thailand – Financial Consumer Protection Center (FCC) Tel: 1213 Email: fcc@bot.or.th 

Warning: The applicant should study, read, and understand the sales documents before deciding to purchase insurance. When receiving the policy, please study the details of the terms and conditions in the policy. The applicant should seek further information regarding applicable tax provisions.