Security Planning with Confidence by LGBTQ+ Insurance
Life partners mean we share good and bad times, and take care of each other forever. If our significant person passes away, we must live our lives further. LGBTQ+ partners need the same things to spend life with loved ones, build future, take care of each other through good and bad times. However, future is uncertain and unpredictable; if anything happens to us, one thing that will take care of our partner is life insurance that we can prepare insurance benefits for the partner. It also meets the needs in terms of savings, tax deduction and lump sum for the partner once we are gone.
Checklist for Buying Insurance
There are many common questions such as if I do not have life insurance, can I buy LGBTQ+ insurance? or What should I consider before buying insurance? We are not be able to afford buying many insurance plans due to several factors. So, let’s see checklist for buying insurance.
Check yourself and significant persons
Before buying insurance for yourself, you should consider about your significant persons to choose the right coverage plan with comprehensive benefits such as if you want to buy insurance for all family members, you have to look for insurance plans with affordable premium and such plans must match your needs.
Check coverage benefits
You have to choose insurance plans that meet your needs and have worthwhile coverage.
Check your wallet
After making a decision, you have to check premium because different insurance plans have different premium amount and payment modes such as monthly or annual modes. You should choose insurance plans that you can afford.
Life Insurance for Life Partners when You’re Gone
LGBTQ+ partners are general lovers who want to build future together, take care of each other through good and bad times. However, LGBTQ+ does not have basic rights like general spouse such as LGBTQ+ cannot receive heir of partner, or partner of LGBTQ+ is not eligible to receive medical welfare as a spouse because they are not legal spouse, so this causes medical expense burden.
Life insurance is an option that handles some issues. Many of you might not know that insureds can specify anyone, not only family members, to be beneficiaries. Thus, LGBTQ+ partners can have insurance to take care of oneself and partner when you are gone.
The top hit insurance is whole life insurance because of long-term coverage. If the insured passes away during coverage period, the Life Insurance Company shall pay benefits as stated in the contract to beneficiaries. However, if the insured is alive until contract maturity (aged 85, 90, 95 or 99 depends on insurance plan), the Company shall pay benefits as stated in the contract to the insured.
Good point of this insurance is lifetime coverage.
Thus, the whole life insurance is recommended as heir for children or grandchildren in case the insured passes away. Moreover, the insured can have health rider attachment to get coverage for both life and health.
Who should have whole life insurance?
- Breadwinner as to have insurance as security for family
- Those who want to have heir for loved ones, children or grandchildren
- Those who want security for life and loved ones in case of passing away
Health Insurance
As mentioned earlier, you should have both life and health insurance to get comprehensive life and health coverage. Health insurance is different from life insurance in that health insurance provides coverage for illnesses, treatment expenses, medication expenses and other expenses as stated in the insurance policy. Moreover, some health insurance also provides compensation in case of death.
Life insurance provides coverage in case of death only. However, life insurance has many types such as insurance for savings or return. And the insured can choose beneficiaries as wish. Therefore, health insurance is an important option that everyone should have because it will handle risks of having unexpected illnesses, expenses such as room fee, medication expenses or treatment expenses. The health insurance also covers pandemic, critical illnesses, common diseases or accidents.
Tax deduction
Health insurance premium is eligible for tax deduction of up to 25,000 Baht based on actual amount. This will mitigate tax burden in each year which you will have more money to make investments. So, this is effective financial planning.
Coverage for common diseases and critical illnesses
If you want to buy lump sum health insurance, you need to check details of coverage thoroughly and choose insurance that perfectly meets your needs and lifestyle. This insurance type covers many diseases and unexpected situations, and reduces burden.
Coverage for treatment expenses
In case of having critical illnesses or health issues that need urgent medical treatment or diseases under the coverage, expenses burden will be reduced; you and your family do not have to get loan for these expenses. This is another reason that many customers buy lump sum health insurance.
As you can see, life and health insurance are really important for our lives because our bodies are deteriorating as we are getting older. Thus, having insurance to handle the risk might be a better choice in case we pass away before our loved ones.
ShieldLife is a life insurance that allows you to live your life to the fullest without worry once passing away because you can specify name of your “Life Partner” as a beneficiary. Security worth millions will be given to your loved ones. Premium starts from hundreds of Baht per month
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Buy Today! Affordable premium with 0% interest for 3, 6 months for customers who purchase new insurance with annual premium payment mode only.
This is for participating credit cards only.
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For more information
☑️ Tel. 1766, available 24 hours
☑️ Contact life insurance agents of branches of Kasikornbank and LH Bank.
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- ShieldLife is a marketing name of whole life insurance, unit-linked insurance and universal life insurance.
- Conditions are as specified in the insurance policy.
- Health rider must be attached to in force policy.
- Coverage period of the rider must not exceed coverage period of life insurance policy that the rider is attached to.
- Premium is eligible for tax deduction according to the Revenue Department.
- Conditions are as specified by Muang Thai Life Assurance PCL and the bank.
- Underwriting is subject to the Company’s rules.
- Please study details of coverage, conditions and exclusions before making a
decision to apply for insurance.
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Sources: Searched on 15/02/2024
🔖 pptv (Data as of 01/02/2023)
🔖 set (Data as of 01/03/2022)