Chubb Life Launches New Insurance Product to Support Thailand’s Aging Society
Dec 7, 2018
Angela Hunter, Country President of Chubb Life in Thailand
Bangkok - Chubb Life has today launched the Whole Life Extra 90/10 and 90/15 plan aimed at encouraging Thai people to plan ahead for their financial well-being when they reach retirement.
With the aging population in Thailand continuing to grow, effective financial planning is becoming increasingly important. In 2005, Thailand officially became an aging society, with people aged over 60 accounting for more than 10 percent of the total population, the Foundation of Thai Gerontology Research and Development Institute reported. By 2021, more than 20-percent of the Thai population will be over 60 years old, according to the Office of the National Economic and Social Development Board.
As in many societies across the world, people in Thailand need to plan ahead and make provisions to enjoy and maintain a high standard of living in retirement, especially as the cost of living and medical expenses rises.
Angela Hunter, Country President of Chubb Life in Thailand, said: “We are proud to launch the Whole Life Extra 90/10 and 90/15 product for people who want to plan ahead for their financial well-being in retirement. It is designed to fit the needs of future pensioners so that Thai people can take care of themselves financially and look forward to life in retirement.”
With Whole Life Extra 90/10 and 90/15 the policyholder will receive:
- annual cash payouts, guaranteed as long as the insured lives, starting from the end of the first policy year and increasing from the end of each policy year where insured age reaches 61 until age 89
- death benefit proceeds, which will be paid to their loved ones if the insured dies before age 90
- an option for the insured person to also purchase a health insurance package and/or other riders with the policy
- a choice of either a 10- or 15-year payment term
Chubb Life is committed to meeting the financial protection and security needs of customers in Thailand at all stages of their lives. Further details about Whole Life Extra 90/10 and 90/15 can be found here
Note:
Policy applicants should read and comprehend about the benefits and terms and conditions of ‘Whole Life Extra 90/10 and 90/15’ before deciding to purchase. Detailed product information can be found from brochure and policy document.In addition, company underwriting guideline will be applied.
About Chubb Life in Thailand
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong, Indonesia, Korea, Taiwan, Thailand and Vietnam, and participates in a joint-venture in China. Chubb Life has been in Thailand since 2001. To meet the financial protection and security needs of its broad range of customers, Chubb Life in Thailand (Chubb Life Assurance Public Company Limited) offers a range of life protection, savings, accident & health, credit protection insurance for auto, motorcycle and home loans, and group employee benefits insurance solutions through agents, brokers, banks, and partners. Additional information can be found at: life.chubb.com/th
About Chubb
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: www.chubb.com
Media Contacts
Laila Tohkeemorlee
Assistant Manager, Corporate Communications
Chubb Life Assurance Public Company Limited
+66 2 615 6986
Kate Humphris
MHP Communications
+852 9602 7536