CIMB THAI Step Up Savings 14/6

Key Features

• Short Premium Payment Term , Pay premiums for only 6 years and enjoy coverage for up to 14 years.
• Guaranteed Annual Cash Return , Receive annual cash returns throughout the policy term — up to 4% of the sum assured per year.*
• Lump-Sum Benefit at Maturity, Get a lump-sum payout of 654% of the sum assured at the end of the policy term.
• Life Coverage for Peace of Mind , Life protection up to 654% of the sum assured.**
• Easy Application , No medical check-up or health questionnaire required (subject to the company’s underwriting criteria).
• Tax benefits, Up to THB 100,000 per year, according to the Notification of the Revenue Department

*In case of living: Receive an annual cash return of 2% of the sum assured from 1^st - 6^th policy anniversary, and 4% of the sum assured from 7^th - 13^th policy anniversary.

**Receive the greater of the surrender value of the policy, total premiums paid, or death benefit according to the 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. 

Insurance Details

Premium Discount Rate

The premium discount rate is approved by Office of Insurance Commission.

Coverage Benefits

Remark

1. “CIMB THAI Value Savings 14/6” is the marketing name of the endowment policy “PRUSavings 14/6 (Non-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. 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.

8. 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 additional agreements)

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

10.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.

11.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 02 626 7777, CIMB Thai website www.cimbthai.com

• Prudential Life Assurance (Thailand) Public Company Limited. Customer Service Center 1621 (during office hours) , 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.