CIMB Thai Value Savings 15/5

Key Features

• Short premium payment period, pay premiums for 5 years, No medical exam or health questions. (Underwriting criteria set by the company).
• Guaranteed protection of all paid premiums¹. Every 2-policy year, get guaranteed cashback of 5% of sum assured², so the total returns you get throughout the entire policy period equal to 535% of sum assured. Plus an opportunity to receive dividend³ (if any). The insured gets the profits, and if there is a loss on the investment, the insurer will bear that loss.
• Opportunities to receive dividend³ (if any) on maturity from global index investment, managed by Eastspring Investments - a world-class asset management company.
• Peace of mind with the benefits of life coverage plus opportunity to receive dividend, get life protection up to 550% of sum assured⁴ with opportunities to receive dividend³ (if any)
• Tax deductible, up to THB 100,000 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.

²At the end of 2^nd, 4^th, 6^th, 8^th, 10^th, 12^th, and 14^th policy year

³The 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.

⁴From the 5^th policy year – the end of 15^th policy year

Tax Benefits

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

Benefit

Product Features

Example of dividend calculation 

• Participation rate (PR) in dividend is the rate of participation in returns resulting from changes in the benchmark index on the investment start date and the last day of the investment at the rate of 50%.
• Max (0, Underlying Index level on the final valuation date/, Underlying Index level on the initial valuation date - 100%) refers to changes in the benchmark index between the final valuation date and the initial valuation date), and changes in an average return of the benchmark index will not be less than 0, on the average of -1.00%, 3.00%, 5.00% per year. -1.00% = 86.01 l 3.00% = 155.80 l 5.00% = 207.89
• Example: Exchange rate on the initial valuation date = THB 36.40 per USD 1(Exchange rate as of 29 August 2022)
• Example: Exchange rate on the final valuation date = THB 32.76 per USD 1

Note

1. The policy issue date is the date on which the company approves the insurance application.
2. Underlying index level on the initial valuation date is the level of the index on the investment start date (calculated within 45 days from the policy issue date).
3. The exchange rate on the initial valuation date is the exchange rate on the investment start date (calculated within 45 days from the policy issue date).
4. The company has a policy to invest in the underlying index within 45 days from the policy issue date. And the underlying index value will be calculated on the final evaluation date within 45 days before the maturity date.
5. If final index valuation date falls on a fund weekend or a fund holiday, the valuation will be made on the next business day.

Note

1. ” CIMB Thai Value Savings 15/5” is the marketing name of a life insurance plan “PRUSavings 15/5 (Par)” plan.

2. The applicant should understand coverage details and all the terms and conditions clearly before making the final commitment.

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