TMB Smart Life 10/5

Benefit

  • Short term endowment plan with 5-year payment period and 10-year life insurance coverage period.
  • Guarantee total benefit: 130% of Sum Assured
    • Cash return of 2% of Sum Assured at the end of policy years 1-10 (a total of 10 times equal to 20% of Sum Assured).
    • Maturity benefit of 110% of Sum Assured at the end of 10th policy year.
  • Death benefit equal to 100% of Sum Assured or surrender cash value or accumulated paid premium whichever is higher.
  • Insurance premium paid is eligible for personal income tax deduction up to 100,000 Baht per year*
  • WP free**: For insured ages 16-64, in case of permanent disability before age 65, ING Life will be responsible for future payments of TMB Smart Life 10/5 premium. During this period, the insured will continue to receive the benefits of this product.
  • Life insurance product is made available from ING Life Limited.
  • For more information, please contact TMB branches nationwide, TMB Phone Banking 1558 or ING call center 0-2632-6000.
  • The information contained herein is provided as preliminary information only and does not form any part of the insurance contract. The coverage purchased, terms and conditions as well as benefits thereof shall be as stipulated in the policy contract.

Remark: * Refer to Notification of the Director-General of the Revenue Department No.172
** WP free (standard risk only) is for insured ages 16-64 years and depends on ING Life’s underwriting conditions

 

Example of Benefit and Coverage
Female age 35 years (Unit : Thai Baht)
Sum Assured   100,000 300,000 500,000 1,000,000
Annual premium   22,900 68,700 114,500 229,000
(1) Total premium (5 years)   114,500 343,500 572,500 1,145,000
Survival benefit          
(2) Cash return of 2% of sum Assured at the end of years 1-10 (a total of 10 times)   20,000 60,000 100,000 200,000
(3) Maturity benefit of 110% of sum Assured   110,000 330,000 550,000 1,100,000
(4) Total survival benefits (2)+(3) 130,000 390,000 650,000 1,300,000
(5) Total survival benefits – total premium paid (4)-(1) 15,500 46,500 77,500 155,000
Death benefit during years 1-10   The Greater of 100% of Sum Assured or Cash Value or Accumulated Paid Premium

Underwriting Conditions

  • Issue Ages : 1 month and 1 day – 65 years
  • Coverage Period: 10 years
  • Premium Payment Period: 5 years
  • Minimum Sum Assured : 100,000 Baht
  • Premium Rate per 1,000 Baht Sum Assured:
    - Age 1 month and 1 day – 50 years: 229 Baht
    - Age 51 – 65 years: 234 Baht

Premium Payment Conditions

Customers can pay initial premium via the following channels:

  • Cash or cheque via TMB counter
  • TMB direct debit
  • TMB credit card

Remark: The broker only receive premium from the insured as a service provided to its customers. Premium payment is still the responsibility of the insured.

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