Highlight benefits

Maximum annuity of 520%(1)

Receive 20% annuity each year(1) until the age of 85

Tax Deductible

Up to 300,000 Baht(3)

Guaranteed 15-year annuity payment

In case of death during annuity payment period(4)

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"Enjoy post-retirement income without working" from the maximum annuity of 520%(1). Just apply for Muang Thai Return Retire and receive 20% annuity each year(1). Pay premium for only 5 years and get life coverage before retirement of up to 150%(2). Get ready to enjoy your happy retirement!

Insurance conditions

Insurable Age

20-55 years old

Premium Payment Period

5 years

Coverage Period

Until attaining the age of 85

Mode of Premium Payment

Annual

Rider Attachment

Allowed

Health Checkup

According to the Company’s rules

Payment / Benefits

Validity of Insurance Contract

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 Muang Thai 8505 (Tax Deductible)

1. In case the insured voluntarily commits suicide within one year from the effective date or the latest date of renewal or reinstatement of the insurance policy 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 Waiver of Premium for Insured Benefit Rider

(for insurable age of 20-55 years old and coverage is provided until the age of 60) from a total of 5 clauses For example, it shall not cover disability which is a result of any of the following causes.
1. Voluntary suicide attempt or self-inflicted injury
2. Bodily injury as a result of traveling or acting as a cabin crew in any non-commercial aircrafts 
3. War whether declared or undeclared, riot, rebellion, revolution or coup d’etat
- Conditions and exclusions are as stated in the insurance policy.

- Underwriting is subject to the Company’s rules.

Remarks

(1) Is % of the initial sum insured
(2) % of paid premium
(3) Insurance premium is entitled to tax deduction. 

Life insurance premium is based on the actual amount but not exceeding 100,000 Baht. 
Annuity life insurance premium is at the rate of 15% of assessable income which must be taxed each year but not exceeding 200,000 Baht. 
In this regard, total entitled actual amount shall not exceed 300,000 Baht.

(4) In case the insured passes away before receiving a complete 15-year annuity payment, the Company shall guarantee to pay a lump sum amount which is equivalent to the present value of unpaid annuity of such 15-year period (according to the calculation specified in the insurance policy) to the beneficiary.

 

Remark: Buyers should have an understanding in the details of coverage and conditions before making a decision to purchase insurance every time.



FAQ

Q: What is the insurable age for Muang Thai Return Retire?
A: The insurable age is 20 - 55 years old.

Q: What is the minimum sum insured for Muang Thai Return Retire?
A: 50,000 Baht.

Q: Is health checkup required?

A:  The applicants are required to declare their actual health information to the Company; It is subject to the Company’s rules whether health checkup is required.

Q: Can other riders be attached to this?
A: They can be attached to the insurance policy; however, it is in accordance with the underwriting criteria of each rider.

Q:  Upon the successful application of this rider, will the premium increase in accordance with the age of the insured?
A: The premium in each policy year remains unchanged (not varying in accordance with age); customers need to make renewal payment before or within 31 days since the premium payment due date.

Q: Is the premium of this rider entitled to tax deduction?
A: Yes, it is entitled to tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax No. 194 and amendments.

Q: When can the insured start receiving the annuity?
A:  Annuity payment for Muang Thai Return Retire can be divided into 2 cases:
1. In case the insured is alive until the maturity date : The insured will receive the annuity from the policy anniversary date on which the insured attains the age of 60 until that on which the insured attains the age of 85; the annuity is 20% of the initial sum insured.
2. In case the insured passes away before receiving the complete 15-year annuity : The Company shall guarantee to make 15-year annuity payment in a lump sum amount which is equivalent to the present value of unpaid annuity of such 15-year period (according to the present value schedule of an annuity), and the rider shall end.

Q: What does the coverage of Muang Thai Return Retire include?

A: 1. In case the insured passes away before receiving the annuity (prior to the policy anniversary date on which the insured attains the age of 60)

2. In case the insured passes away before receiving the complete 15-year annuity : The Company shall guarantee to make 15-year annuity payment in a lump sum amount which is equivalent to the present value of unpaid annuity of such 15-year period (according to the present value schedule of an annuity), and the rider shall end.

Q: Can the insured surrender the policy?
A: The insured can surrender the policy before receiving annuity and receive the surrender value as specified in the policy value schedule; however, the insured cannot surrender the policy after having received the annuity payment. In this regard, the insured may need to pay taxes to the Revenue Department retroactively after surrendering the policy.

Q: What are the exclusions?
A: 1. In case the insured voluntarily commits suicide within one year (1 year) from the effective date or the latest date of renewal or reinstatement of the insurance policy 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.

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