Bangkok Life Assurance and Bangkok Bank have launched the "GainFirst Speed Return 10/5" savings life insurance plan, which offers an annual return benefit advertised as a 20% cash back in the initial years.
Key details of this short-term savings life insurance plan designed for working individuals include:
- Premium Payment: Premiums are paid for only 5 years.
- Coverage Period: The plan offers 10 years of coverage.
- Annual Returns: Policyholders receive cash benefits during the contract period:
- 20% cash back annually from years 2 to 5.
- 40% cash back in year 6.
- 100% cash back annually from years 7 to 9, and a maturity bonus in year 10.
- Total Benefits: The plan offers total benefits throughout the contract of up to 520%.
- Tax Benefits: Premiums paid are eligible for a tax deduction of up to THB100,000.
- Application: The plan is available exclusively through Bangkok Bank, and applications can be made via the Bangkok Bank mobile banking app or at any bank branch.
This product is a collaboration in the ongoing bancassurance partnership between the two companies, targeting customers looking for stable returns in a low-interest-rate environment, reported Money & Banking.