1. "CIMB Thai Ready Retire 90/5" life insurance plan is the name for marketing purposes only, whereas in life insurance retirement plan will be "PRU Annuity 90/5 (Eligible for tax deductions, Par)".
2. The applicant should read and thoroughly understand coverage details and all the terms and conditions before applying for the policy.
3.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.
4.Policy benefits are tax-free and are not subject to legal enforcement (except for insurance premiums that have already been paid).
5.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.
6.The insured has a right to cancel the policy within 15 days from the date of receipt of the policy document. The insured will get the remaining premium after deducting the company’s expenses of THB 500 and health checkup fee (if any).
7.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.
8.This document provides essential information about the insurance plan. The applicant 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.
9.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 insurance contract for complete details of exclusions.)
10. The annuity premium is entitled to annual tax deduction up to THB 300,000 per year in case no other life insurance premiums are deductible (Life insurance premium is eligible for personal income tax deduction up to a maximum of THB 100,000 per year, and premium of Life Insurance Retirement Plan is entitled to annual tax deduction up to THB 200,000 per year), according to the discretion of the Revenue Department.
11.The underwriting is subject to conditions and criteria set by the company.
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.
- Any branches of CIMB THAI BANK Public Company Limited, CIMB Thai Care Center 0 2626 7777, CIMB Thai website www.cimbthai.com
- Prudential Life Assurance (Thailand) Public Company Limited. Customer Service Center 1621 (during office hours) , FAX:0 2353 4888, or email: hotline@prudential.co.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.
