INSURANCE

Life insurance is divided into 2 main groups: basic life insurance and special life insurance, as follows:

Basic life insurance
1.⁠ ⁠Term insurance
This is an insurance that focuses primarily on life insurance coverage. There is no savings. You can choose the coverage period and premium payment period to suit your financial burden, the people you need to take care of, or the assets you have. The advantage is that you can claim high coverage with low premiums, but the disadvantage is that there is no savings and when the specified period is up, the coverage will end.

2.⁠ ⁠Whole Life Insurance
This insurance focuses on long-term life insurance, such as 90 to 99 years old, with premiums only payable for a certain period, such as 10-20. This type of insurance will start with savings or policy value, but it can still provide high coverage with low premiums.

It is therefore suitable for those who are heads of families with people under their care. It can be used as a tool to protect their abilities, or it can be used to plan for inheritance or wealth transfer to family members or loved ones effectively. In addition, this type of insurance also has savings or policy value, so it is another reserve for future expenses.

3.⁠ ⁠Endowment/Saving Insurance
Focuses on saving money to receive returns at the specified rate, including receiving life insurance and being able to use the right to reduce taxes. Therefore, it is popularly used to plan savings for important goals that do not require risks or volatility from investments, such as saving money and reducing taxes in the medium or long term, saving money for children in the future. If an unexpected event occurs to the insured, such as death or disability, even though we have not yet saved the full amount of money on time, we will still receive insurance capital for our family members.

Read more at: AIA Endowment Insurance

4.⁠ ⁠Annuities Insurance
This is an insurance type that emphasizes long-term savings for use after retirement. It will benefit from additional tax deductions from general insurance up to 200,000 baht and up to 300,000 baht if the right to reduce taxes from the first 100,000 baht of general insurance has not been used. Therefore, it is suitable for those who want a stable income after retirement and want to receive additional tax deductions.

Read more at: AIA Pension Insurance

Special Life Insurance
1.⁠ ⁠Unit Linked Insurance
This is an insurance that combines risk insurance and investment. It is highly flexible and provides freedom in planning the coverage amount, premiums paid, premium payment period, and coverage period. This makes it suitable for the younger generation who want to plan their finances comprehensively in terms of risk management and increase the chance of receiving higher returns than general insurance.

Read more at: Unit Linked AIA Investment Insurance

2.⁠ ⁠Elderly Life Insurance
This is a special type of insurance that provides life insurance for the elderly. Applications can be made from the age of 50-70. However, its highlight is that applications can be made without a health examination or answering health questions. Therefore, it is suitable for those who may have a history of chronic diseases or are not in good health in order to create life insurance or create an inheritance for their children.