(1) For plan of 2,000,000 Baht of the PA rider
(2) Coverage period and premium payment period of 15/15 term insurance
(3) Benefits of dismemberment and others including loss of eyesight, hearing and speech are according to the percentage specified in the insurance policy.
• The Company shall pay the maximum benefit under No. 2.1. only.
• The Company shall not underwrite a person whose occupation is exposed to high risk for accident such as skyscraper window cleaner, professional boxer, wrestler, motorcycle taxi driver, 10-wheeler truck driver, fireman, acrobat, stunt man, jockey, horse trainer and groomer, animal trainer, diver, worker stationing at wild park, forest (in forest), police and soldier (field operation).
• PA Saved Ver is a marketing name of 15/15 term insurance with attachment of PA rider.
• PA rider must be purchased to be attached to in-force main policy and the insured must pay premium annually. Coverage period of the rider must not exceed coerage period of 15/15 term insurance that the rider is attached to and maximum insurable age. Premium rate varies based on the insured's age.
• Premium is partially eligible for tax deduction according to the Revenue Department.
• Underwriting is subject to the Company's rules.
Q: What is the coverage of PA Saved Ver ?
A: PA Saved Ver is a marketing name of 15/15 term insurance with attachment of PA rider with the following details.
• 15/15 term insurance provides 100% life coverage of the initial sum insured.
• PA rider provides coverage in case of death, loss of organs, eyesight, hearing, speech, and total and permanent disability. The insured shall receive coverage for medical expenses based on actual payment but not exceeding sum insured of medical expenses per accident. It includes accident, being murdered or physically assaulted, and the coverage is extended to accident from riding or being a passenger of a motorcycle, and public accident.
Q: Will the insured receive the benefit in case of death from illness, not accident?
A: The insured will receive death coverage from 15/15 term insurance only.
Q: In case of hospitalization at a hospital or a medical center due to accident, is advance payment required?
A: No advance payment is required when Easy PA Credit Card is presented to recieve medical treatment due to accident at a network hospital according to your chosen medical expense limit. The insured has to present ID card or a card issued by the government (with photo) together with Easy PA Credit Card every time. In case the insured is not convenient to receive medical treatment at a network hospital, the insured can receive the treatment at another hospital by making advance payment. Then, the insured can reimburse from the Company by submitting a medical certificate with an original receipt.
Q: Does PA Saved Ver provide coverage for accidents from riding or being a passenger of a motorcycle?
A: The insured will receive coverage in case of death, loss of organs, eyesight, hearing, speech and total and permanent disability from riding or being a passenger of a motorcycle, as well as coverage for medical expenses based on actual payment but not exceeding sum insured of medical expenses per accident.
Q: Can other riders be attached to this?
A: You can purchase other riders to attach to the policy. However, it is subject to underwriting conditions of such rider.
Q: Is premium of PA Saved Ver tax deductible?
A: Premium is partially eligible for tax deduction according to the Revenue Department.
Q: Will premium increase based on the insured's age after application of PA Saved Ver is approved?
A: PA Saved Ver is a marketing name of 15/15 term insurance with attachment of PA rider. Premium rate of PA varies based on the insured's age.
In case that the insured knowingly makes false statement or knowingly omits to disclose any fact to the Company for acknowledgement while applying for the insurance, where if the Company had known of such fact, the Company may be induced to charge higher premium or refuse to enter into the insurance contract, then this insurance contract will be voidable according to Section 865 of the Civil and Commercial Code which the Company has the right to void the insurance contract and not to make any policy payment. The Company's liability will be limited to returning all premium paid to the Company.
Exclusions of 15/15 term insurance
1. In case the insured voluntarily commits suicide within one year from the effective date or the latest date of renewal or the date that the Company approves to increase the sum insured amount which shall apply to the increasing sum insured amount only.
2. In case the insured is murdered intentionally by the beneficiary.
3. In case the insured declares an incorrect age and the Company can prove that at the time of insurance contract formation, the actual age is outside the premium rate limit according to the normal business practice of the Company.
Exclusions of PA Rider from a total of 20 clauses
For example, it shall not cover any loss or damages due to or a result of either of the following causes:
1. Acts of the insured while under the influence of alcohol, narcotic drugs or narcotic substances that impairs the insured’s mental faculty.
The term “under the influence of alcohol” is in case of having blood alcohol concentration (BAC) test result of 150 mg/dL or over.
2. War, invasion, act of foreign enemies, or warlike actions whether declared or undeclared, or civil war, insurrection, rebellion, riot, strike, civil commotion, revolution, coup d’etat, proclamation of martial law or any incident causing the proclamation or maintenance of martial law
3. While the insured is engaging in car or boat racing of every type, horse racing, ski racing of every type, including jet ski, skating competition, boxing, parachuting (except for the purpose of life saving), boarding or disembarking or traveling in a balloon, or gliding, bungee jumping, diving with oxygen tank and breathing apparatus
4. While the insured is boarding or disembarking or on board in an aircraft which is not registered to carry passengers and does not operate as a commercial airline
5. Terrorism, etc.
Buyers should have an understanding in the details of coverage and conditions before making a decision to purchase insurance every time.
Disclaimer: This English translation is intended for reference only. The Thai version shall be the only legally binding version. In the event of discrepancy between the Thai version and the English translation, the Thai version shall always prevail.