Checklist for Tax Deductions with Investment and Life Insurance
Muangthai UL Plus – your new best friend for maximizing tax savings with life insurance. In addition to ordinary life insurance and health insurance, universal life insurance can also be your best friend for tax deductions of the year 2024.
Criteria for Tax Deductions with Life Insurance Premiums
- Tax deductions are based on actual payments, up to 100,000 Baht
- The life insurance policy must have coverage period of at least 10 years.
- Health insurance premiums are tax-deductible based on actual payments, up to 25,000 Baht (once combined with life insurance and endowment insurance premiums, the tax deductions are up to 100,000 Baht).
- The life insurance must be purchased from an insurer licensed to conduct life insurance business in Thailand.
- Proof of premium payments or a declaration of intent to exercise tax deduction rights must be provided by the insurer.
Muangthai UL Plus – A trending life insurance plan that provides high life coverage, guarantees minimum investment returns, offers opportunities for higher returns, and provides tax deduction benefits.
Muangthai UL Plus - A Comprehensive Life Insurance Plan
Customizable life coverage according to your need.
Maximum flexibility: Conveniently manage your policy by yourself.
➕Make top-up premiums.
➖Lower life coverage as circumstances change.
✔️Withdraw investment partially
🟰Take premium holiday for flexibility.
Enjoy tax deduction benefits of up to 100,000 Baht
Remarks:
- Muangthai UL Plus is a marketing name of Muangthai Universal Life 1 Insurance.
- Premium is eligible for tax deduction. Conditions are as specified by the
Revenue Department.
Warnings:
- Premium holiday and partial investment withdrawal might lower entitled benefits and coverage.
- Please study details of coverage and risks before making a decision to purchase insurance.