SCB joins with SCBLIFE to introduce “Pror Kum Insurance with Lump Sum Offer at 60”

Thursday 04 August 2016 10:09
Siam Commercial Bank has teamed up with SCB Life Assurance (SCBLIFE) to introduce a "Pror Kum Insurance with Lump Sum Offer at 60," life insurance scheme designed for clients who want to build security and stability for their family and themselves after retirement.

To ensure family stability, clients will receive protection unde, with coverage starting from the application date until 80 years of age. For the sake of their own stability after retirement, they will receive a sum of money twice, once when they turn 60 years and once when the insurance contract matures. Even more, the premium payment period is just 10 years. Those with a minimum age of 1 day and a maximum of 50 years are qualified to apply for the scheme at any of the 1,200 SCB branches nationwide.

SCB Executive Vice President, Wealth Products Division, Ms. Salisa Hanpanich said that SCB bancassurance continued to expand, with the company's previously launched insurance products drawing a lot of attention from clients. Clients today realize that taking out life insurance will help build stability for their families in the short and long run.

With long-term experience in financial planning for clients, SCB understands the specific life insurance needs of its clients. The bank has therefore collaborated with SCBLIFE to develop a "Pror Kum Insurance with Lump Sum Offer at 60" scheme catering to the needs of clients who are salaried employees or business owners. Both groups realize the importance of family stability when facing unexpected incidents, and at the same time want to build their own stability after retirement. The scheme will provide them with the best benefits and protection meeting their needs.

SCBLIFE Senior Executive Vice President, Marketing Group, Mr. Pricha Ruthiraphong said with their common customer-centric performance goal the company and SCB had a strong intention to serve the various needs of clients of every age group.

"With our expertise in providing life insurance services to Thai clients for over 40 years and the Bank's experience in providing financial services, we have researched developing life insurance products to meet client needs in each group.

"We found that family heads are looking for insurance products catering to their needs in terms of family protection and, at the same time, providing returns in the form of a sum of money for the sake of their own stability after retirement. So, our 'Pror Kum Insurance with Lump Sum Offer at 60' scheme is designed to meet both of those needs," he said.

Ms. Salisa said SCB and SCBLIFE had initiated the "Pror Kum Insurance" scheme earlier this year under the "Pror Kum Insurance with Double Compensation" theme designed to

cater to the needs of clients worried about medical expenses when getting hospital treatment. Under the scheme, the insured will receive daily compensation of 10,000 baht in case of hospital treatment and up to 20,000 baht if they are treated in hospital for an accident.

Such protection is not easy to find in the market.

"To ensure our clients get the best deal, we have introduced a 'Pror Kum Insurance with Lump Sum Offer at 60' scheme to serve our target group of customers who want immediate family protection coverage in a hefty amount from the outset of taking out a policy and a sum of money in preparation for post-retirement living. Under this insurance policy, the insured will receive protection until the policy holder turns 80, and sums of money at the age of 60 and when the contract matures at the age of 80," she said.

The "Pror Kum Insurance with Lump Sum Offer at 60" scheme features insured amounts starting from 300,000 baht to 2 million baht. The insurance premium qualifies for a tax rebate of up to 100,000 baht a year under conditions prescribed by the Revenue Department.Those interested can apply for the service or seek additional information at any SCB branch nationwide, or by calling the SCB Call Center at 02-777-7777.