To achieve a comfortable and secure retirement, it is crucial to start building a financial cushion that will fund your anticipated needs and lifestyle for later in life.
The rapidly ageing population is among the top economic concerns for Thailand. According to a study by the National Statistical Office, only 5.8% of respondents believe they have adequate funds for retirement. This creates a considerable income protection gap in later years, underlining the need for insurance planning. In addition, based on the projection of the Office of the National Economic and Social Development Council (NESDC), this year, Thailand is becoming a 'Complete Aged Society', which means that 20% of the total population is aged 60 or above. And by 2031, the country will be classed as a 'Super Aged Society', where senior citizens will account for more than 28% of the population.
Ms. Angela Hunter, Country President of Chubb Life Thailand, said
"To achieve a comfortable and secure retirement, it is crucial to start building a financial cushion that will fund your anticipated needs and lifestyle for later in life. One day you are celebrating your first salary and before you know it, your colleagues will be cutting a cake for your retirement. Future living expenses, health emergencies and the ever increasing medical costs must all be accounted for in your retirement planning. It is easy to fall short on your long-term goals, which is why it's vital to plan retirement early, securing a sufficient fund early on", she added.
Apart from having a provident fund and savings, an effective way to guarantee a recurring retirement income is with retirement planning insurance. The best retirement plan starts early in your career; with the average work-life being approximately 30 to 40 years, the earlier you plan, the lower the financial burden will be, helping you pave the way to your desired retirement lifestyle.
Retirement Extra 15, a life time coverage with 15-year premium payment, provides annual cash coupons to the insured from the end of the 1st policy year until age 89, with this cash benefit increasing over time. The insured also receives a 100% of sum assured for lump sum cash coupon at the end of 21st policy anniversary and another 100% for the maturity benefit at the end of the policy year as they turn 90. The product is eligible for personal income tax deduction following conditions as announced by the Revenue Department.
Read more about 'Retirement Extra 15' here >> https://www.chubb.com/th-en/personal/retirement-extra-insurance.html
Note: Policy applicants should read and comprehend the benefits, terms, and conditions of Retirement Extra 15 before deciding to purchase. Detailed product information can be found in the brochure and policy document. In addition, Chubb Life Thailand underwriting guideline will apply.