Muang Thai Life Assurance has launched two insurance plans - "Muang Thai Premier Legacy 99/1 (Fixed Policy Surrender Amount)" for legacy planning and "Muang Thai Flexi Protection 99/20" to meet the needs of creating long-term stability, said Mr Sara Lamsam, CEO of Muang Thai Life Assurance.
Muang Thai Premier Legacy 99/1 is a plan with a fixed surrender value. Policyholders pay a single premium, getting a minimum insured amount of THB10 million, 100% life coverage, tax-free benefits, an immediate surrender value of 80% of the insured capital from the first year, fixed until age 99, and pay a 12% lower premium compared to similar insurance plans.
Meanwhile, Muang Thai Flexi Protection 99/20 insures policyholders from age 30 days to 45 years, with coverage up to age 99. The premium payment period is 20 years, with a minimum sum insured of THB500,000. Premiums can be paid annually, half-yearly, quarterly or monthly. Additionally, from age 65 onwards, life insurance benefits can be converted to medical expenses for both inpatients and outpatients with a lump sum. The premium payment is fixed and does not increase with age. The total tax deduction is up to THB100,000 per year.
In addition, Muang Thai Life Assurance has launched the “MTL Legacy Consultant” service in collaboration with Tilleke & Gibbins International, an expert in legal and tax consulting services, including will and family business planning, and Chivamit Social Enterprise, an expert in consulting on living will planning, providing knowledge for preparing for good health in the final stages and leaving happily, and creating a letter of intent to choose treatment methods at the end of life (Living Will), creating a life companion notebook (Living & Leaving Note), reported Money & Banking Online.