Stocks and Financial Services Press Releases Friday April 4, 2014 09:46
Bangkok--4 Apr--

Prudential Life Thailand has joined hands with Thanachart Bank to penetrate the bancassurance business with the latest launch of a new product “Perfect Health ME by Prudential” to respond to the customer needs. The product stresses on “Whether or not you are ill – we pay”. The highlights include compensation for medical expenses for both in-and-out patients from illness and accidents; premium payments are made till age 60 with a coverage for as long as age 80 years, while premiums will also be a level sum throughout the term. If the insured does not file any claims during the term of coverage, the policy will pay the sum assured at maturity. The policy also pays a 100% of the sum assured should the insured dies while the policy is inforce.

Mr. Somjate Moosirilert, CEO and President of Thanachart Bank PCL., said that after the bank and Prudential Life Thailand became bancassurance partners, both parties collaborated to come up with a variety of products to suit the lifestyles of the bank’s customers, both individuals and corporates, numbering over 4 million. The new products and the world-class expertise offering from Prudential Life will bring the highest benefits to the bank’s customers in helping to plan for their life, health and savings.

Mr. Binayak Dutta, the CEO of Prudential Life Assurance (Thailand) PCL. said that after Prudential gained access to over 620 Thanachart Bank branches nationwide which enables it to move closer to the customers and be able to respond to every customer segments. Latest, the company had launched a new product “Perfect Health ME” which is a savings product with a supplementary coverage in the form of medical expense compensation. The highlight for this product is that premiums are paid till age 60 while coverage can be for as long as till age 80. The product responds to the present need of customers who are looking for long-term financial and health planning.

“Perfect Health ME” gives 3 levels of protection. Firstly, it pays 100% of the sum assured for loss of life from all causes. Secondly, it pays a daily cash compensation for up to 365 days maximum should the insured becomes hospitalized from illness and accidents throughout the term of coverage, till age 80. For admission to the I.C.U. or the C.C.U., the policy shall pay a double amount but for a maximum of 30 days. It also pays a compensation for in-patient hospital expenses, such as for cost of surgery including surgeon’s fees, anesthetist, surgery room and equipment.

For out-patients, the policy pays a compensation for the cost of surgery including surgeon’s fees, anesthetist, surgery room and equipment.
The policy will pay each medical claim according to the chosen plan and even if the insured has filed for medical claims from other sources, he/she will still able to file for claims from this policy.

Thirdly, whether or not the insured makes any medical claims during the policy term, if he/she is alive when the policy reaches maturity, at age 80, the policy shall pay 100% of the sum assured to the policyholder.

Another specialty for this product is that the premium is fixed throughout the entire term with automatic renewals each year, as long as the insured continues to pay his/her premiums. The insured will not be called on to have a new medical check-up which ensures that the policy will be inforce whether the health deteriorates as the years go by. The life coverage portion of the policy may also be used for tax benefits for up to 100,000 baht per year. Customers may choose from 11 Plans in all, starting from Plan 1000 with a 500,000 baht sum assured to the highest Plan 10000 with a 5,000,000 baht sum assured. The insurable age is from 20-50 years. Customers may also choose to pay by Thanachart Bank credit card with 0% interest for as long as 10 months.

For those interested, please contact any Thanachart Bank branches, or call “1770” from today onward.

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