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Coverage terms
Pay a regular premium for 5 years and enjoy 15 years of coverage. You can choose the coverage that meets your needs, as long as it also meets the policy conditions.
Maturity benefit
Once your policy matures, we will pay the redemption value that your policy holds.
Death benefit
In the event of your death, we will pay the sum assured and the redemption value.
No-lapse guarantee benefit
If you pay your premiums for 5 years from the start of your policy, a no-lapse guarantee will keep your life insurance policy active for 15 years. This means that for your first 15 years with this policy, you will receive a guaranteed life cover worth 5 times your annual regular premium, even if your policy’s cash value drops to zero or less. To enjoy this benefit, you must meet the following conditions:
You, as the insured person, must make your premium payments by the due dates for the duration of the plan; and
Never withdraw money by selling the units in your regular premium; and
Never decrease the amount that you pay for your regular premiums. If you owe us any account management charges, we will deduct them from your death benefit before we pay it out.
Premium holiday
You can stop paying regular premiums after you make your second annual premium payment, fourth half-yearly premium payment, eighth quarterly premium payment, or twenty-fourth monthly premium payment.
During the premium holiday, we will still charge for your policy fee and expenses every month. If the amount of charges and expenses you owe becomes too high for your redemption value to cover, your policy will be terminated before it reaches maturity.
If you have been paying consecutive premiums for less than two years, and you do not pay your premiums within the grace period, your policy will be terminated. We will automatically surrender your policy if it has a guaranteed fund value.
Partial withdrawal
You can withdraw cash value from your policy under these conditions:
You must provide us with an application that specifies the fund under your plan that you would like to make a withdrawal from.
After deducting any amount you owe to us, the remaining cash value of your regular premium must be at least 10,000 baht. This is calculated by the bid price on the next business day after we receive your withdrawal request.
Criteria
Coverage period: 15 years
Regular premium payment term: 5 years
Conditions
You must pay the full year’s premium for the first policy year. After the first policy year, you will get the option to pay your premiums on a monthly, quarterly, half-yearly or yearly basis at the time of renewal.
Note: YOUR Choice Regular Premium - Value Linked Plan is the name of this plan for marketing purposes only. In the insurance policy, the name of this plan will be FWD Unit Linked 15/5 Plan.
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