CIMB Thai Wealthy e-Saver 88/8 Online Life Insurance

Key Features

• Easy application, available 24/7
• Pay premiums for 8 years and enjoy life coverage until age 88
• Annual cash payout of 8.8% of the initial sum assured, from the end of policy year 1 until the policy anniversary at age 87
• High level of life protection, providing financial security for your loved ones
  • In the event of death from any cause: coverage of up to 808% of the initial sum assured*
  • In the event of accidental death: additional coverage of up to 808%**
• Tax benefits: Eligible for tax deduction up to THB 100,000

Tax Benefits

Life insurance premiums are eligible for personal income tax deductions of up to THB 100,000 per year, subject to the conditions set by the Revenue Department.

Insurance Benefits

Living Benefits

• From the end of policy year 1 until the policy anniversary at age 87, receive annual payouts of 8.8% of the initial sum assured, and
• At policy maturity (end of policy year at age 88), receive a lump-sum benefit of 888% of the initial sum assured

Death Benefits

Life Insurance Coverage (All Causes)

·       In the event of death from any cause, the Company will pay the beneficiary the highest of the following Policy surrender value, or 101% of total premiums paid, or  The death benefit based on the policy year as follows:

-        Policy Year 1: 108% of the initial sum assured

-        Policy Year 2: 208% of the initial sum assured

-        Policy Year 3: 308% of the initial sum assured

-        Policy Year 4: 408% of the initial sum assured

-        Policy Year 5: 508% of the initial sum assured

-        Policy Year 6: 608% of the initial sum assured

-        Policy Year 7: 708% of the initial sum assured

-        Policy Year 8 onwards: 808% of the initial sum assured

Accidental Death Rider (No Additional Premium)

An additional benefit is payable if the insured passes away due to an accident, as follows:

-        Policy Year 1: 108% of the initial sum assured

-        Policy Year 2: 208% of the initial sum assured

-        Policy Year 3: 308% of the initial sum assured

-        Policy Year 4: 408% of the initial sum assured

-        Policy Year 5: 508% of the initial sum assured

-        Policy Year 6: 608% of the initial sum assured

-        Policy Year 7: 708% of the initial sum assured

-        Policy Year 8 onwards: 808% of the initial sum assured

Underwriting Conditions

Conditions and Periods During Which Coverage Is Not Provided by the Company:

Life Insurance Policy

• In the event of non-disclosure of material facts or misrepresentation, the Company reserves the right to void the policy within 2 years from the policy’s effective date, or from the date of policy renewal, reinstatement, or the date the Company approves an increase in the sum assured (applicable only to the increased portion).
• In the case of suicide within 1 year from the policy’s effective date, or from the date of policy renewal, reinstatement, or the date the Company approves an increase in the sum assured (applicable only to the increased portion), or in the event the insured is killed by the beneficiary, coverage will not apply. (Please refer to the exclusions as specified in the life insurance policy and any supplementary contracts for full details.)

Exclusions for the Accidental Death Benefit Rider (provided at no additional premium):

Coverage shall not apply to death resulting from, or arising out of, the following causes:

1. Any act of the insured while under the influence of alcohol, narcotics, or intoxicating drugs to the extent that the insured is unable to exercise conscious control.
   The term “under the influence of alcohol” shall, in the case of a blood test, mean a blood alcohol level of 150 mg% or higher.
2. Suicide, attempted suicide, or self-inflicted injury.
3. Murder or intentional bodily harm inflicted on the insured.
4. Miscarriage.
5. War, invasion, acts of foreign enemies, warlike operations (whether war is declared or not), civil war, insurrection, rebellion, riot, strike, civil commotion, revolution, coup d’état, declaration of martial law, or any event leading to the declaration or maintenance of martial law.
6. Terrorism, defined as the use of force or violence and/or threats thereof by any person or group, whether acting alone, on behalf of, or in connection with any organization or government, for political, religious, ideological, or similar purposes, including acts intended to influence any government and/or to instill fear in the public or any section of the public.
7. Radiation or radioactive contamination from nuclear fuel or nuclear waste arising from the combustion of nuclear fuel, or any nuclear fission process capable of self-sustaining propagation.
8. Explosion of radioactive materials, nuclear components, or any hazardous substances that may explode as part of a nuclear process.
9. While the insured is participating in motor racing or boating of any kind, horse racing, skiing (including jet skiing), skating competitions, boxing, parachuting (except parachuting for life-saving purposes), boarding, alighting from, or traveling in a balloon or glider, bungee jumping, or scuba diving requiring the use of air tanks and underwater breathing apparatus.
10. While the insured is riding or traveling on a motorcycle.
11. While the insured is boarding, alighting from, or traveling in any aircraft not registered for passenger transport or not operated as a commercial airline.
12. While the insured is piloting or serving as a crew member of any aircraft.
13. While the insured is participating in or provoking a fight or altercation.
14. While the insured is committing a serious criminal offense, or while being arrested or escaping arrest.
15. While the insured is performing duties as a member of the military, police, or as a volunteer, and engaged in war operations or suppression activities.

Premium Payment Methods

• Premiums can be paid on an annual basis only.
• For the initial premium / first policy year, payment can be made via cash (QR Code scanning) or by credit card (Visa, MasterCard, or JCB from any bank).
• For renewal premiums, payment can be made via cash (QR Code scanning), credit card (Visa, MasterCard, or JCB from any bank), or by direct debit from a bank account.
  For bank account debit payments, account and bank details must be provided in advance in the insurance application form, and the debit will commence from the subsequent due installment.

Online Insurance Purchase Process

• Step 1: Select the insurance plan and calculate the premium.
• Step 2: Complete the required details to purchase insurance online.
• Step 3: Make the premium payment.
• Step 4: Wait for approval and coverage commencement.

Remark

1. The life insurance plan “CIMB Thai Wealthy E Saver 88/8” is the marketing name of the endowment life insurance plan “Prudential Endowment 88/8 (4) (Non-Participating)” together with the Accidental Death Benefit Rider (provided at no additional premium).
2. The applicant/insured should carefully understand the details, coverage, and conditions before making any decision to purchase insurance.
3. This product is a life insurance policy, not a deposit. To maximize policy benefits, the insured should pay premiums for the full premium payment term and maintain the policy until maturity. If the policy is terminated before maturity, the insured may not receive benefits equal to the maximum policy benefits or the total premiums paid.
4. Policy benefits are tax-exempt and are not subject to legal enforcement (except for premiums already paid).
5. Payment of premiums is the responsibility of the insured. Payment through a life insurance broker is provided for facilitation purposes only.
6. Right to Cancel the Policy:
   If the insured wishes to cancel the policy for any reason, the policy may be returned to the Company within 15 days from the date of receipt, unless the policy was issued electronically, in which case the physical policy need not be returned. The Company will refund the premium after deducting the actual medical examination fee (if any) and an administrative fee of THB 500 per policy. However, for policies sold via electronic channels, the Company will refund the full premium without any deductions.
   If a claim has already been made under the policy, the insured will not be entitled to cancel the policy.
7. The insured has the right to surrender the policy and will receive the surrender value as specified in the policy’s surrender value table, together with any other entitled benefits (if any), less any outstanding indebtedness (if any).
8. This document is prepared for preliminary information purposes only. The insured should review further details regarding benefit payments, terms, conditions, exclusions, and benefits in the policy document issued by the Company.
9. Life insurance premiums may be eligible for tax deductions up to THB 100,000 per year, subject to the conditions of the Revenue Department.
10. CIMB Thai Bank Public Company Limited acts solely as a life insurance broker, facilitating the arrangement of life insurance contracts and assuming responsibility only in its capacity as a broker.
    Life insurance is underwritten by Prudential Life Assurance (Thailand) Public Company Limited.
11. Further Information:
    • CIMB Thai Bank Public Company Limited branches nationwide, CIMB Thai Care Center: 0 2626 7777, CIMB Thai website: https://www.cimbthai.com
    • Prudential Life Assurance (Thailand) Public Company Limited Customer Service Center: 1621, Email: hotline@prudential.co.th

Warning: Buyers should carefully understand the coverage details and conditions before deciding to purchase insurance. The bank acts solely as an insurance broker for referral purposes.