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Group Life Insurance

** This information is only an example of the insurance benefit. This is not part of the policy***
Group Life Insurance
This is a group insurance policy considered by gender, age, job descriptions and the amount of coverage. Thai Life calculates the same rate of premium payment for each person in the group.

Objective
- To provide welfare and fringe benefits to employees.
- To help the employer’s expense on familie’s benefit of the employees and insurance coverage.
- To cover death 24 hours all over the world except suicide during the first year of the
   policy and death caused by contracted deadly diseases that was examined before
   buying life insurance. The insureds can buy the additional insurance such asaccidental
   insurance, disability insurance and health insurance.

Coverage
1. Life coverage except for suicide during the first year and death caused by contracted
    deadly disease that was diagnosed before buying life insurance.
2. Accidental insurance: to cover death and organ loss. There are 5 types of coverage:
Type I : To cover death and organ loss.
Type II : To cover death, organ loss and total permanent disability.
Type III: To cover death, organ loss, hearing damage, speech damage.
Type IV: To cover death, organ loss, hearing damage, speech damage and total
permanent disability.
Type V: Health coverage from accident.
3. Total permanent disability from accident or illness.
4. Health insurance: To cover medical expenses as an in-patient and out-patient.

Type of group life insurance:

1.Temporary group life insurance
This policy is the best way to insure the employees
both private and public sector. And also this can help the
employer’s expenses on family’s benefit of the employees.
The policy encourages the employees to do their job
effectively and the employer can calculate the insurance
expenses exactly.

The Policy Feature
- This is the one policy coverage with the employers is
   ascompany, financial company, foundation,
   co-operative etc. They are policyholders and pay for
   premium.
- Year by year policy coverage with yearly renewable.
- Group policyholder can define in varieties of coverage amount for the differentiation
   in work position, years of work or base salary for example.
- Group member can not choose the amount coverage.
- The policyholders have to inform on register a new member, resignation,
   changing the amount coverage or members to the insurance company every month.
- The company will issue the memo to the policyholders as agreement (monthly,
   quarterly,semiannually or annually)
- Improving premium/members, resignation or amount coverage has to be
   calculated by the period that insurance covered. The company might charge
   more premium (in case of more new member, than resigned members ) or
   refund to the policy holder (in case of more resignation than new members)
- This policy does not cover income losses.

Conditions of insured
- Company or government organization (at least 7 employees)
- Age 15 - 60 years of age
- Be in a good physical and healthy condition
- Be a present working employee at the time the policy is in effect.

Benefit

Benefit Plan1 Plan2 Plan3
1. In case of death:      
          1.1 Death from natural causes 200,000 100,000 50,000
          1.2 Accidental death 400,000 200,000 100,000
2. Organ losses/permanently Disability by accident      
          2.1 Loss of both hands, feet or eyes 200,000 100,000 50,000
          2.2 Loss of one hand and one foot 200,000 100,000 50,000
          2.3 Loss of either hand or foot, and one eye 200,000 100,000 50,000
          2.4 Loss of one hand, foot or eye 100,000 50,000 25,000
          2.5 Total permanent disability 200,000 10,000 50,000
          2.6 Partial permanent disability 20,000 10,000 5,000
3. Medical coverage from accident (Per accident)      
Premium/yearly/person      
          Class 1 occupation 1,830 980 540
          Class 2 occupation 2,020 1,100 610
          Class 3 occupation 2,265 1,230 700

"Download this form for reviewing underwriting qualification and premium calculation"

For more information contact Social welfare insurance Tel 0-2247-0247 EXT 3585,3524,3547,3587 direct line 0-2246-9454

2.Koom Niran Group Life Insurance [For bank loans coverage]    (Download Brochure)

This policy benefits bank customers. The Government
Housing Bank has joined with 6 leading life insurance companies to create a special insurance project called “Koom Niran” in order to help cover and protect the bank customers with housing mortgages. In case of death their mortgage will be paid of and ownership of their home will be passed on to their nearest family member.

Insurance coverage period

This policy is for a 5 to 20-year policy depending on the period of the bank loan.

Premium
The insureds premium cost can be included in the housing mortgage or the premium can be deducted from their loan. They pay for only one single premium. They will be covered until maturity of the loan.

Coverage
In case of death or total permanent disability: The company will pay the amount of the insured’s loan to reduce debt from the bank.

Deductible Tax
If the insureds select a 10-year period policy or more . They can use premium payment for personal income tax deductions yearly, but not exceeding 50,000 baht.

Contact Special Project Insurance 0-2247-0247 EXT 3538,3548,3588

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