Highlight benefits

Save a Large Sum Even for First Jobbers

Higher Life Coverage of Up to 120%*

Tax Deductible**

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"Make Big Savings as First Jobbers!" Prepare your future from today with an endowment insurance plan "Muang Thai Smile Saver 20/16" from Muang Thai Life Assurance, a tool that simply converts your savings to a sum of money. Receive life coverage through affordable premium and build saving discipline to reach goals as you wish.

Insurance conditions

Insurable age

1 month - 60 years old

Coverage Period

20 years

Premium Payment Period

16 years

Mode of Premium Payment

Annual, semiannual, quarterly, and monthly

Health Checkup

According to the Company's rules

Rider Attachment

Allowed

Payment / Benefits

Remarks

*Is in % of the initial sum insured

**Premium of this insurance contract is entitled to personal income tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax No. 172.
***Savings in a form of life insurance

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

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

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


FAQ


Q: What is the insurable age for Muang Thai Smile Saver 20/16?
A: The insurable age is 1 month - 60 years old.

Q: What is the minimum sum insured (coverage) for Muang Thai Smile Saver 20/16?
A: 120,000 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: Once the application of this rider is successful, 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 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. 172.

Q: What is the maximum benefit from this rider?
A: If the insured is alive until the maturity date, the total maximum benefit the insured would gain from Muang Thai Smile Saver 20/16 is 120% of the initial sum insured amount.

Q: What does the coverage of this insurance plan include?
A: If the insured passes away during the coverage period, the Company shall pay the beneficiary as follows:
- If the insured passes away during the policy years 1 - 10, the Company shall pay the beneficiary 100% of the initial sum insured or the surrender value at that time (whichever is higher).
- If the insured passes away during the policy years 11 - 20, the Company shall pay the beneficiary 120% of the initial sum insured or the surrender value at that time (whichever is higher).

Q: What are the exclusions of coverage?
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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