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.