Happy Pension (Par)

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The sooner you prepare for retirement, the more you'll enjoy it.

Every retiree has different expenses. Prepare yourself for a comfortable future with pension insurance from Bangkok Life Assurance. With people living longer and expenses rising, it's important to have adequate savings. Plan ahead and secure your financial future to enjoy peace of mind in retirement.

Because good financial planning… is the key to a prosperous and sustainable life.

 
Happy Pension (Par)
Happy Pension (Par)
Premium payment period:
One Time, 5-Year, 10-Year, or Until age of 60
Happy Pension (Par)
Annual pension until age
99
Happy Pension (Par)
A chance of receiving an
Extra Annuity benefits
Happy Pension (Par)
Tax deductible up to
300,000 Baht(1)
 

(1) Premiums paid for pension life insurance are eligible for a tax deduction. However, the deductible amount cannot exceed either 15% of your assessed taxable income, 200,000 Baht per year, or, if you haven't exercised your right to deduct general life insurance premiums, 300,000 Baht per year in accordance with the announcement from the Revenue Department.

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Happy Pension (Par)
Click to view information of Life Insurance (Par)
 

To meet the needs of planning in each aspect of life, the endowment insurance with Par is designed to improve your chances of generating higher returns with investment proportion in assets which are different from Non-Participating Product by increasing the investment proportion in high-risk assets along with managed with a dedicated investment portfolio. Expertise and efficiency for aiming in good and appropriate returns in each period.

 

Comparison of Investment Proportion between Non-Participating and Participating product

Happy Pension (Par)
 

Investment Strengths

Happy Pension (Par)
 

Separated investment portfolio*

Participating product portfolio provides investment flexibility for higher chance of receiving higher returns with minimum guarantee return

Happy Pension (Par)
 

Bottom-Up analysis

For better investment decisions, this results in good and appropriate returns in each period of time

Happy Pension (Par)
 

Manage and monitor investment portfolio

By experts and efficient management system

* To increase the opportunity to receive higher returns, the company has a policy to invest in high-risk assets for Participating Product in a higher proportion than Non-Participating Product. High-risk assets include common stocks and real estate funds both domestically and internationally, including businesses with long-term high growth prospects such as those in the technology and health sectors.

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Single Premium Payment Period
 
  • Issued age: 20-50 years
  • Coverage period: Until age of 99
  • Premium payment period: Single premium payment
  • Minimum Sum Assured: 20,000,000 Baht
  • In the case of purchasing additional riders, health check is in accordance to the criteria of the riders
  • In the case of not purchasing additional riders, no examination and no health questions are required
  • Insurance underwriting is in accordance with the Company’s criteria

Single Premium Payment

 
Coverages Benefits
1. Survival Benefit
(From the policy anniversary at which the insured reached age 60 to 99)
  • Receive Annuity of 0.01% of the sum assured
  • A chance of receiving an Extra annuity benefits each year of 0.01% of the Extra Sum Assured (if any).
2. Death Benefit Before Annuity Payment
(From the contract’s effective date but before the policy anniversary when the insured reaches age 60)

110% of the accumulated life insurance premiums or the policy surrender value, whichever is higher.

 
During Annuity Payment
(From the policy anniversary when the insured reaches age 60 but before the policy anniversary when the insured reaches age 99)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends at the policy anniversary when the insured reaches age 59
deducted by the accumulated received Extra Annuity benefits(2)
 

(1) In the event that the accumulated Annuity benefits (excluding Extra Annuity benefits) received by the insured exceeds the actual accumulated life insurance premiums, the company will not pay death benefits and the insurance policy will terminate immediately.

(2) In the event that the accumulated Extra Annuity benefits received by the insured exceeds the dividend on the policy anniversary when the insured reaches age 59, the company will not pay death benefits and the insurance policy will terminate immediately.

Happy Pension (Par) with Single Premium Payment

Example: A 40-year-old woman in excellent health works as a freelancer. Her freelance work involves renumeration in installment form and an unstable income. She would love to plan for her retirement and receives a pension of 120,000 Baht per year (averaging 10,000 Baht per month). Therefore, she applies for Happy Pension insurance (Par) with single premium payment. This plan answers the needs of both retirement planning and the freedom to purchase riders later according to her flexible lifestyle.

 
Happy Pension (Par)
 
Summary of benefits according to the policy (including dividends) In the case of no extra sum assured In the case of extra sum assured(1)
from the average investment return[2]
3% 4% 5%
  1. Receive annuity throughout the contract period (Guaranteed benefit)
 4,800,000 4,800,000 4,800,000 4,800,000
  1. A chance of receiving Extra Annuity benefits throughout the contract period
    (Non-guaranteed Benefit)
 - 958,760 1,559,480 2,160,240
  1. Maturity Benefit
 - - - -
  1. Benefits throughout the contract period
    (1.+2.+3.)
 4,800,000 5,758,760 6,359,480 6,960,240
  1. Single premium payment
 2,400,000 2,400,000 2,400,000 2,400,000
  1. Total benefit that exceeds than the total
    premium paid (4.-5.)
 2,400,000 3,358,760 3,959,480 4,560,240

* The Company may consider adding the extra sum insured during the pension period. The extra sum assured is based on the dividend at policy anniversary when the assured reaches age 59, which is calculated from the investment return on the assets of the participation product group as of the contract’s effective date until the policy anniversary at which the assured reaches age 59 after deducting total cost of insurance policies. The Company will allocate 80% to the assured, subject to the terms, conditions, and dividend calculation method considered by the Company at the policy anniversary when the assured reaches age 59.

In case that the assured passes away or requests to surrender the insurance policy before the policy anniversary when the assured reaches age 59, the Company shall reserve the right not to add the extra sum assured.

**Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 used in dividend calculation and average investment return shown herein is estimated from the Company’s average investment return while the actual return on investment may be higher or lower than that shown. The assured should consider the information in sale illustration before making a decision to purchase a life insurance policy.

Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 is the return that the Company earns from an investment on the assets of the participating product group as from the contract’s effective date until the policy anniversary when the assured reaches age 59. The return on investment each year can be viewed through www.bangkoklife.com/parfund_ROI

Premium payment period of 5 years
 
  • Issued age: 20-54 years
  • Coverage period: Until age of 99
  • Premium Payment Period: 5-year
  • Minimum Sum Assured: 50,000 Baht
  • Installment Mode: annually, semiannually, quarterly, or monthly
  • In the case of purchasing additional riders, health check is in accordance to the criteria of the riders.
  • In the case of not purchasing additional riders, no examination and no health questions are required.
  • Insurance underwriting is in accordance with the Company’s criteria

Premium payment period of 5 years

 
Coverages Benefits
1. Survival Benefit
(From the policy anniversary at which the insured reached age 60 to 99)
  • Receive annuity of 20% of the sum assured
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Death Benefit Before Annuity Payment
(From the contract’s effective date but before the policy anniversary when the insured reaches age 60)

110% of the accumulated life insurance premiums or the policy surrender value, whichever is higher.

 
During Annuity Payment
(From the policy anniversary when the insured reaches age 60 but before the policy anniversary when the insured reaches age 99)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends at the policy anniversary when the insured reaches age 59
deducted by the accumulated received Extra Annuity benefits(2)
 

(1) In the event that the accumulated Annuity benefits (excluding Extra Annuity benefits) received by the insured exceeds the actual accumulated life insurance premiums, the company will not pay death benefits and the insurance policy will terminate immediately.

(2) In the event that the accumulated Extra Annuity benefits received by the insured exceeds the dividend on the policy anniversary when the insured reaches age 59, the company will not pay death benefits and the insurance policy will terminate immediately.

Happy Pension (Par) with Premium payment period of 5 years

Example: A 40-year-old woman, in excellent health, is a company employee and has a fixed income. She would love to plan for her retirement and receives a pension of 120,000 Baht per year (averaging 10,000 baht per month). Therefore, she applies for Happy Pension insurance (Par) with the premium payment period of 5 years. This plan addresses the needs of both retirement and saving planning.

 
Happy Pension (Par)
 
Summary of benefits according to the policy (including dividends) In the case of no extra sum assured In the case of extra sum assured(1)
from the average investment return[2]
3% 4% 5%
  1. Receive annuity throughout the contract period (Guaranteed benefit)
 4,800,000 4,800,000 4,800,000 4,800,000
  1. A chance of receiving Extra Annuity benefits throughout the contract period
    (Non-guaranteed Benefit)
 - 377,360 925,520 1,473,680
  1. Maturity Benefit
 - - - -
  1. Benefits throughout the contract period
    (1.+2.+3.)
 4,800,000 5,177,360 5,725,520 6,273,680
  1. Premium payment period of 5 years
 1,982,490 1,982,490 1,982,490 1,982,490
  1. Total benefit that exceeds than the total
    premium paid (4.-5.)
 2,817,510 3,194,870 3,743,030 4,291,190

* The Company may consider adding the extra sum insured during the pension period. The extra sum assured is based on the dividend at policy anniversary when the assured reaches age 59, which is calculated from the investment return on the assets of the participation product group as of the contract’s effective date until the policy anniversary at which the assured reaches age 59 after deducting total cost of insurance policies. The Company will allocate 80% to the assured, subject to the terms, conditions, and dividend calculation method considered by the Company at the policy anniversary when the assured reaches age 59.

In case that the assured passes away or requests to surrender the insurance policy before the policy anniversary when the assured reaches age 59, the Company shall reserve the right not to add the extra sum assured.

**Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 used in dividend calculation and average investment return shown herein is estimated from the Company’s average investment return while the actual return on investment may be higher or lower than that shown. The assured should consider the information in sale illustration before making a decision to purchase a life insurance policy.

Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 is the return that the Company earns from an investment on the assets of the participating product group as from the contract’s effective date until the policy anniversary when the assured reaches age 59. The return on investment each year can be viewed through www.bangkoklife.com/parfund_ROI

Premium payment period of 10 years
 
  • Issued age: 20-49 years
  • Coverage period: Until age of 99
  • Premium Payment Period: 10-year
  • Minimum Sum Assured: 50,000 Baht
  • Installment Mode: annually, semiannually, quarterly, or monthly
  • In the case of purchasing additional riders, health check is in accordance to the criteria of the riders.
  • In the case of not purchasing additional riders, no examination and no health questions are required.
  • Insurance underwriting is in accordance with the Company’s criteria

Premium payment period of 10 years

 
Coverages Benefits
1. Survival Benefit
(From the policy anniversary at which the insured reached age 60 to 99)
  • Receive annuity of 20% of the sum assured
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Death Benefit Before Annuity Payment
(From the contract’s effective date but before the policy anniversary when the insured reaches age 60)

110% of the accumulated life insurance premiums or the policy surrender value, whichever is higher.

 
During Annuity Payment
(From the policy anniversary when the insured reaches age 60 but before the policy anniversary when the insured reaches age 99)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends at the policy anniversary when the insured reaches age 59
deducted by the accumulated received Extra Annuity benefits(2)
 

(1) In the event that the accumulated Annuity benefits (excluding Extra Annuity benefits) received by the insured exceeds the actual accumulated life insurance premiums, the company will not pay death benefits and the insurance policy will terminate immediately.

(2) In the event that the accumulated Extra Annuity benefits received by the insured exceeds the dividend on the policy anniversary when the insured reaches age 59, the company will not pay death benefits and the insurance policy will terminate immediately.

Happy Pension (Par) with Premium payment period of 10 years

Example: A 40-year-old woman, in excellent health, is a company employee and has a fixed income. She would love to plan for her retirement and receives a pension of 120,000 Baht per year (averaging 10,000 baht per month). Therefore, she applies for Happy Pension insurance (Par) with the premium payment period of 10 years. This plan addresses the needs of both retirement and saving planning.

Happy Pension (Par)
 
Summary of benefits according to the policy (including dividends) In the case of no extra sum assured In the case of extra sum assured(1)
from the average investment return[2]
3% 4% 5%
  1. Receive annuity throughout the contract period (Guaranteed benefit)
 4,800,000 4,800,000 4,800,000 4,800,000
  1. A chance of receiving Extra Annuity benefits throughout the contract period
    (Non-guaranteed Benefit)
 - 242,000 721,680 1,201,360
  1. Maturity Benefit
 - - - -
  1. Benefits throughout the contract period
    (1.+2.+3.)
 4,800,000 5,042,000 5,521,680 6,001,360
  1. Premium payment period of 10 years
 2,022,780 2,022,780 2,022,780 2,022,780
  1. Total benefit that exceeds than the total
    premium paid (4.-5.)
 2,777,220 3,019,220 3,498,900 3,978,580

* The Company may consider adding the extra sum insured during the pension period. The extra sum assured is based on the dividend at policy anniversary when the assured reaches age 59, which is calculated from the investment return on the assets of the participation product group as of the contract’s effective date until the policy anniversary at which the assured reaches age 59 after deducting total cost of insurance policies. The Company will allocate 80% to the assured, subject to the terms, conditions, and dividend calculation method considered by the Company at the policy anniversary when the assured reaches age 59.

In case that the assured passes away or requests to surrender the insurance policy before the policy anniversary when the assured reaches age 59, the Company shall reserve the right not to add the extra sum assured.

**Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 used in dividend calculation and average investment return shown herein is estimated from the Company’s average investment return while the actual return on investment may be higher or lower than that shown. The assured should consider the information in sale illustration before making a decision to purchase a life insurance policy.

Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 is the return that the Company earns from an investment on the assets of the participating product group as from the contract’s effective date until the policy anniversary when the assured reaches age 59. The return on investment each year can be viewed through www.bangkoklife.com/parfund_ROI

Premium payment period until age of 60
 
  • Issued age: 20-55 years
  • Coverage period: Until age of 99
  • Premium Payment Period: Until age of 60
  • Minimum Sum Assured: 50,000 Baht
  • Installment Mode: annually, semiannually, quarterly, or monthly
  • In the case of purchasing additional riders, health check is in accordance to the criteria of the riders.
  • In the case of not purchasing additional riders, no examination and no health questions are required.
  • Insurance underwriting is in accordance with the Company’s criteria

Premium payment period until age of 60

 
Coverages Benefits
1. Survival Benefit
(From the policy anniversary at which the insured reached age 60 to 99)
  • Receive annuity of 20% of the sum assured
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Death Benefit Before Annuity Payment
(From the contract’s effective date but before the policy anniversary when the insured reaches age 60)

110% of the accumulated life insurance premiums or the policy surrender value, whichever is higher.

 
During Annuity Payment
(From the policy anniversary when the insured reaches age 60 but before the policy anniversary when the insured reaches age 99)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends at the policy anniversary when the insured reaches age 59
deducted by the accumulated received Extra Annuity benefits(2)
 

(1) In the event that the accumulated Annuity benefits (excluding Extra Annuity benefits) received by the insured exceeds the actual accumulated life insurance premiums, the company will not pay death benefits and the insurance policy will terminate immediately.

(2) In the event that the accumulated Extra Annuity benefits received by the insured exceeds the dividend on the policy anniversary when the insured reaches age 59, the company will not pay death benefits and the insurance policy will terminate immediately.

Happy Pension (Par) with Premium payment period until age of 60

Example: 40-year-old woman, in excellent health, is a company employee and has a fixed income. She would love to plan for her retirement and receives a pension of 120,000 Baht per year (averaging 10,000 Baht per month). Therefore, she applies for Happy Pension insurance (Par) with the premium payment period until age of 60. This plan addresses the needs of both retirement and saving planning to save up steadily until age 60.

 
Happy Pension (Par)
 
Summary of benefits according to the policy (including dividends) In the case of no extra sum assured In the case of extra sum assured(1)
from the average investment return[2]
3% 4% 5%
  1. Receive annuity throughout the contract period (Guaranteed benefit)
 4,800,000 4,800,000 4,800,000 4,800,000
  1. A chance of receiving Extra Annuity benefits throughout the contract period
    (Non-guaranteed Benefit)
 - 52,760 402,080 751,400
  1. Maturity Benefit
 - - - -
  1. Benefits throughout the contract period
    (1.+2.+3.)
 4,800,000 4,852,760 5,202,080 5,551,400
  1. Premium payment period until age of 60
 1,966,140 1,966,140 1,966,140 1,966,140
  1. Total benefit that exceeds than the total
    premium paid (4.-5.)
 2,833,860 2,886,620 3,235,940 3,585,260

* The Company may consider adding the extra sum insured during the pension period. The extra sum assured is based on the dividend at policy anniversary when the assured reaches age 59, which is calculated from the investment return on the assets of the participation product group as of the contract’s effective date until the policy anniversary at which the assured reaches age 59 after deducting total cost of insurance policies. The Company will allocate 80% to the assured, subject to the terms, conditions, and dividend calculation method considered by the Company at the policy anniversary when the assured reaches age 59.

In case that the assured passes away or requests to surrender the insurance policy before the policy anniversary when the assured reaches age 59, the Company shall reserve the right not to add the extra sum assured.

**Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 used in dividend calculation and average investment return shown herein is estimated from the Company’s average investment return while the actual return on investment may be higher or lower than that shown. The assured should consider the information in sale illustration before making a decision to purchase a life insurance policy.

Average investment return as from the contract’s effective date until the policy anniversary when the assured reaches age 59 is the return that the Company earns from an investment on the assets of the participating product group as from the contract’s effective date until the policy anniversary when the assured reaches age 59. The return on investment each year can be viewed through www.bangkoklife.com/parfund_ROI

Click to View Coverage Exclusions
 
  • In the event that the insured does not disclose the true statement or makes a false statement, the company will void the contract within two years from the effective date of the coverage under the insurance policy, or upon renewal, or upon reinstatement, or upon the date the company approves the increase of the sum assured only for the additional part. Unless the insured does not have a stake in the insured event, or the declaration of age is inaccurate that the actual age is outside the normal trade premium rate limit.
  • In the event the insured commits suicide within one year from the effective date of the insurance policy, or upon renewal, or upon reinstatement, or upon the date the company approves the increase of the sum assured only for the additional part, or if murdered by the beneficiary.

Note

  1. The information on the website is only a summary of preliminary benefits. Please read the details of the coverage conditions and exclusions before deciding to purchase any insurance products. The coverage conditions and complete exclusions can be inquired from your agents or from your life insurance policy details.
  2. Remittance of insurance premiums is the responsibility of the insured. The fact that life insurance agents and brokers offer to collect insurance premiums is a service only.
  3. A health declaration is one of the factors for underwriting or benefits payment consideration.
  4. For maximum benefits from the policy, the insured should pay premiums until the premium payment period completes and hold the policy until its maturity.
  5. Insurance premiums can be used for personal income tax deductions, according to the criteria set by the Revenue Department.
  6. Happy Pension (Par) is the marketing name of
    • Pension 60 (Par) – Single Premium
    • Pension 60 (Par) – 5 pay
    • Pension 60 (Par) – Payment 10 years
    • Pension 60 (Par) – Payment to age 60 years

For more details, please contact our life insurance agents or financial advisors nationwide.

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