Thai Life Insurance Public Company Limited, or TLI, has launched a group savings insurance product called Money Fit Wealthy to capture the year-end market. It offers two plans: Money Fit Wealthy 10/3, for those seeking a short-term savings plan with premiums paid for only 3 years and coverage lasting 10 years, and Money Fit Wealthy 15/5(1) (a participating dividend plan), for those who want a financial plan with premiums paid over 5 years, coverage lasting 15 years, and the opportunity to receive dividends. Chan Hao Chong, Assistant Managing Director and Chief Proposition Officer of TLI, said the year-end period is when working-age people focus on financial planning alongside tax management. The Money Fit Wealthy 10/3 plan stands out with its concept of short payments, annual returns, and long-term coverage, paying annual returns during the contract of up to 6% of the sum assured, with total benefits over the contract of up to 354% of the sum assured, and it qualifies for a tax deduction of up to 100,000 baht per year under Revenue Department criteria. The Money Fit Wealthy 15/5(1) plan offers the opportunity to receive dividends on policy anniversary dates from years 2 to 14, and at contract maturity pays a minimum return of 520% of the sum assured, along with a tax deduction of up to 100,000 baht and death coverage of up to 500% of the sum assured. Interested applicants can apply without a medical examination or health questions.
Thai Life Insurance PCLTLI launched the Money Fit Wealthy group savings insurance product to capture the year-end tax-deduction market, a new product offering aimed at customers.
