Thai Life Insurance Public Company Limited, or TLI, has launched a new savings insurance product under the name 'Money Fit Wealthy' to capture the year-end tax-deduction market. It offers two plans. 'Money Fit Wealthy 10/3' is for those seeking short-term savings, with premiums paid over just 3 years and 10 years of coverage, annual cash returns during the contract of up to 6% of the sum assured, and total benefits over the contract of up to 354% of the sum assured, along with tax-deduction rights of up to 100,000 baht per year under Revenue Department criteria. 'Money Fit Wealthy 15/5(1) (participating dividend plan)' requires premiums paid over 5 years with 15 years of coverage, annual cash returns during the contract of up to 6% of the sum assured, the opportunity to receive dividends on each policy anniversary from years 2 to 14 and at contract maturity, with minimum cash returns over the contract of 520% of the sum assured, along with tax-deduction rights of up to 100,000 baht and death-benefit coverage of up to 500% of the sum assured. Chan Hao Cheong, Senior Assistant Managing Director and Chief Proposition Officer of TLI, said the product helps customers plan and allocate their money in line with their goals at each stage of life, and interested customers can apply without a medical check-up or health questions.
Thai Life Insurance PCLTLI launched the new 'Money Fit Wealthy' tax-deductible savings insurance product to capture the year-end tax-deduction market, a new product offering for customers.
