Siam Commercial Bank and FWD Insurance launch their new "16/6 Super Plus" an endowment product covering 3 critical illnesses along with remarkable features: short premium payment term and receive 6% per year returns from the first year, receiving 600% of the insured sum upon maturity and receiving the entire critical illness premiums upon maturity if no critical illnesses have been claimed for during the life of the policy
Mrs. Nataya Sukhum, First Executive Vice President, Bancassurance Function, Siam Commercial Bank, announces that research on Bank's customers found that the uncertain economic factors and the COVID-19 pandemic has resulted in customers seeking for reasonable saving plans while gaining peace of mind against critical illnesses such as invasive cancer, hemorrhagic stroke or ischemic stroke, and acute ischemic myocardial infarction. Additional studies have also found that customers desire to purchase life insurances, especially the type of insurance with coverage on critical illnesses, and do not want their paid insurance premiums to be wasted if they are not diagnosis with those kinds of illnesses. With our joint customer-led approach, we decided to collaborate with FWD Insurance Public Company (Limited) to deliver "16/6 Super Plus Insurance - a short term savings life insurance with 3 critical illnesses coverage, including invasive cancer, hemorrhagic stroke or ischemic stroke as well as acute ischemic myocardial infarction , in order to serve customers' needs.
Statistic indicates that many Thai people die of these 3 critical illnesses and the mortality rates are increasing every year (Data from the Office of Policy and Strategy of the Ministry of Public Health - Report on the mortality rate of Thai citizens in 2019). Thus, the "16/6 Super Plus" will help reduce customers' concerns on critical illnesses. Moreover, this product will help insured people to make their short-term savings plan with a distinctive point of which could be refunded 6% per year based on their insured sum from the 1st year until the 15th year. Also, when an agreement is matured they will receive 600% of their insured sum back. In case one of the 3 critical illnesses is detected after a medical examination in the 1st year - 4th year, the premium payment will immediately stop or in case it is detected in the 5th year - 16th year, the insured person will receive the lumpsum. Lastly, if the insured person is not affected with the critical illnesses, they will receive all of the critical illness premium back when the policy is matured. We believe that this product will serve customers' needs, especially for high to middle income target groups.
16/6 Super Plus is applicable for anyone with and age range from 1 day to 70 years old to be insured for a period of 16 years with a premium payment period of only 6 years. Additionally, the bank provides flexibility for premium payment with the choice of paying annually or semi annually.
Ms. Alisa Areepong, Chief Proposition Officer, FWD Insurance Public Company (Limited), said "At FWD, we're committed to delivering products with various coverages to serve customers' needs for all lifestyles at every life stage with a customer-led approach. In light of the ongoing pandemic situation, more customers are looking for health insurance with critical illnesses coverage that can protect them from unforeseen circumstances. We understand these customer needs and therefore developed the 16/6 Super Plus from a customer perspective to give peace of mind to our customers from these illnesses."
16/6 Super Plus provides 3-types of coverages:
From the above product key features, this product will empower customers to have a worry-free life and continue to celebrate living.
Anyone who is interested in the "16/6 Super Plus" product can purchase at Siam Commercial Bank Branch nationwide. For further inquiry contact SCB Call Center 02-777-7777.