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Policy Change


Request for Loan Policy

Documentation required

  1. A loan Policy form. download form
  2. A photocopy of the ID card with the insured’s authorised signature.
  3. In case the insured wants a loan amount transfer to the bank account that has never been made, please attach a photocopy of a book bank cover page.

* Referable no.2 and no.3 when the insured is submitting own request.

Detail

When the policy is effective and has a cash surrender value, the insured has not exercised the extended term or paid-up insurance option, the insured has the right to take the policy loan. The maximum loan amount is up to 90% of the policy’s cash value available at that time, deducted any outstanding debts of this policy and the premium amount due (if any).

Request for Change to Extended term or Paid-Up Insurance Policy

Documentation required

  1. A Request form or a request letter from the insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

When the insured continues paying premiums until the policy has a cash surrender value and the policy remains effective, the insured decides to discontinue premium payment. The insured has the right to convert the policy provision as following;

  1. Extended Term Policy
    • Apply only the insurance policy that was issued with the standard premium rate.
    • The sum assured remains unchanged, but the cover period varies according to the policy’s cash value schedule.
    • If the insured is deceased during the extended period, the payable amount will be issued to the beneficiaries.
    • When the insured lives beyond the extended period, the policy will discontinue the coverage and will not pay any benefits.
    • In the case of the outstanding debts of the policy, the amount payable must be deducted from the cash surrender value before calculating from extended term insurance. The sum assured of the extended term policy will be equivalent to the original sum assured amount deducted any outstanding debts.
  2. Paid-Up Policy
    • The coverage period remains unchanged, but the sum assured is varied due to the Paid Up stated in the policy cash value schedule.
    • The sum assured of the paid-up policy will be payable when the insured survives until the end of insurance period, or when the insured deceases within the insurance period.

*Remarks

  1. In the case of the policy with any debts, the amount must be deducted from the policy’s cash value prior to calculate the assured sum of paid-up policy.
  2. In case the insured informs to convert the policy into an extended term or paid-up policy, then the policy is endorsed. The policy will not be able to reinstate or return to normal condition.

Request for Changes of the Insured’s name and Beneficiaries

Request for Change of Premium Payment Mode

  • A request form or a request letter from the Insured. download form
  • A photocopy of the ID card with the insured’s authorised signature.

Detail

Changing of the premium payment during the policy year is not permitted. (The premium receipts can be issued if the premium payment is not in the same mode)

Request for Change of Premium Payment Mode

Heading

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

DetailChanging of the premium payment during the policy year is not permitted. (The premium receipts can be issued if the premium payment is not in the same mode)

Request for Additional Supplementary Benefits

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.
  3. An application for insurance contains thorough details of health questions.

Detail

Premium Payment Collection

  1. The premium payment notice (if any).
  2. The adding supplementary benefits (riders) premium amount is calculating from the purchase date until the date before next payment.

Request for Termination of Supplementary benefits

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

  1. If the insured cancels the supplementary benefits (riders) within a grace period, the riders will be deemed of termination as of the due date.
  2. If the insured cancels the supplementary benefits within the policy year which the premium has been paid, the company will pay to return the premiums that have not been covered to the insured.

Request to Increase the Assured Sum

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature
  3. An application form.
  4. The medical requirement in regulation (if any, calculating from the compound of the insured’s all the same type of policies and the insured’s attained age)

Detail

  1. Premium payment of the new assured sum is calculated by using the same age as the effective period of the policy.
  2. The additional premium calculates at the first year including interest rate of 8% per year.

Request for the Assured Sum Reduction

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

If premium payment has been made until t the cash surrender value validation, the refund amount will be payable from the reduced cash value.

Request for Change of Policy Plan

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature
  3. An application for insurance contains thorough details of health questions (for longer coverage plan)
  4. An original Insurance Policy

*Submit a police report in case of the loss of policy

Detail

* New insurance premiums is higher than the present

  1. Charging of the additional premiums at the first year.
  2. The addition Premium interest rate of 8% per year
  3. Pay the new policy issued fee of 200 Baht
  4. Pay the upcoming effective premium due.

* New insurance premiums is lower than the present

  1. Paying the upcoming effective premium due.
  2. Paying the new policy issued fee of 200 Baht, the insured will receive the premium refund or a cash value, depending on the case. ( .)

Request for Change of the Accident Insurance Premium Rate

Documentation Required

  1. A request form or a request letter from the Insured, stating clearly the details of occupational change, such as Type of Business, Position, Role and Responsibilities, etc., as well as using a motorcycle for transportation. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

  1. If the insured changes occupation with lower risk, the premiums refund will be payable proportionally (AP.1, AP.2, AP.3 or HI.2011).
  2. If the insured changes occupation with higher risk, the insured must pay the additional premiums (AP.1, AP.2, AP.3 or HI.2011).

Request to Re-issue of Policy

Documentation Required

  1. A request form or a request letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.
  3. Bring either the damaged policy or the police report in case of the loss of policy.
  4. Paying the new policy issued fee of 200 Baht

Request for Change of the Insured’s Birth Date

Documentation Required

  1. A request Form or a request Letter from the Insured. download form download form
  2. A photocopy of the ID card with the insured’s authorised signature
  3. A photocopy of the Resident Certificate with the insured’s authorised signature

Detail

  • If the change of birth date effects the age of the insured and the premium increases, the insured will have to pay the additional premium.
  • If the change of birth date effects the age of the insured and the premium reduces, the insured will be receiving premium refund calculating back to the actual age at the first due date.

Request for Changing Details in the Application Form

Documentation Required

  1. A request Form or a request Letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature.

Detail

Changing any details in the application which is not impacted the recorded information of policy such as change of other addresses of the insured (except the mailing address between the insured and the Company), change of address of the beneficiaries, change of spouse’s name, etc.; therefore, the policy does not require any endorsement. The Company will provide a notification letter.

Request for Being an Irrevocable Beneficiary

Documentation Required

  1. An irrevocable beneficiary form.
  2. A photocopy of the ID card of the insured with his authorised signature
  3. A photocopy of the ID card of the beneficiary with his authorised signature
  4. The original policy.

Detail

In general provision of policy no.4 and no.6 stipulate that the insured has granted the policy to the beneficiaryand the beneficiary has noticed in writing to the Company as a irrevocable beneficiary. The insured will not be able to change the beneficiary.

Request for Assigning Policy Ownership

Documentation Required

  1. A Transferring Rights of the Policy form
  2. A photocopy of the ID card of the assignor (the insured) with authorised signature
  3. A photocopy of the ID card of the assignee (the beneficiary) with authorised signature.

* Please submit a photocopy of the assignee’s bank book cover page to transfer the policy benefits directly.

Detail

In general provision of policy no.3, the insured has the right to grant and exercise to the assignee in writing and must receive the approval by the Company.

Conditions of the transfer of rights

  1. The assignee must pay the policy premium
  2. The assignee must be the beneficiary of the policy
  3. If there is more than one beneficiary, the other beneficiaries must be acknowledged.
  4. There are 2 kinds of the transferable rights
    • The right to obtain the guaranteed interest rate payment condition each year.
    • The right to obtain payment of the policy’s maturity benefits.

Request for Transferring to the Account

Documentation Required

  1. A transfer request form: the policy beneficial amount transfer through bank account directly. download form
  2. A photocopy of the book bank cover page with the insured’s authorised signature
  3. A photocopy of the ID card with the authorised signature

Detail

  1. Benefits under the policy are the amount payable in accordance to terms and conditions of the policy and the compensation for medical expenses and accidents (the supplementary benefits)
  2. If the insured has more than one policy, please indicates the outstandingly policy number requested in the form.
  3. If the owner of the bank account is not the insured, the changeable is only the guardians of the insured.
  4. An eligible account must be in 10 digits only
  5. If the policy benefits amount have been issued before the transfer request form has been submitted, the amount will be issued in ordinary methods as a cheque or a bank draft.

Request for Reimbursement of the saving benefit payable in Policy

Documentation Required

  1. A request form or a request Letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature

* In case the direct transfer request has never been submitted, please attach additional documents of no.16

Loss of Cheque or Bank Draft

Documentation Required

  1. A request form or a request Letter from the Insured. download form
  2. A photocopy of the ID card with the insured’s authorised signature
  3. Police report in case the policy was lost

* In case the direct transfer request has never been submitted, please attach additional documents of no.16

Detail

The police report must state the follows;

  • Number of Cheque/Bank Draft
  • Name-Surname of payee
  • Date of payment
  • The amount payable on the cheque/bank draft issued

* If name-surname of the insured has been changed, please submit the additional official documents such as certificate of change of name-surname, marriage certificate or divorce certificate.

Request for Amount Change on Cheque/Bank Draft

Documentation required

  1. A request form or a request Letter from the Insured. download form
  2. Cheque/Bank Draft
  3. A photocopy of the ID card with the insured’s authorised signature

* In case the direct transfer request has never been submitted, please attach additional documents of no.16

Detail

* If name-surname of the insured has been changed, please submit the additional official documents such as the certificate of change of name-surname, marriage certificate or divorce certificate.

Request for Policy Reinstatement

Documentation required

  1. A policy reinstatement form. download form
  2. The medical requirement.
  3. A photocopy of the ID card with the insured’s authorised signature

* The insured whose policies contained riders of HI., HI.1, HI.2 and HI.special has to convert these riders to HI.2011.

Remarks:

  1. The Company reserves the right to request any further medical information.
  2. Policy with WP.,GTR., and GTR.2, the parents or guardians must act as the insured.
  3. For the special policy reinstatement, please submit the original insurance policy to the company.
  4. The insured is responsible for any expenses occurred on any medical information.

Detail

There are 2 types of reinstatement processes

  1. Reinstatement : the insured has to pay back premiums amount until the current period with the details as follows;
    • Paying all outstanding premiums of life, an extra premium and the endowment rider, the insured must pay back all overdue until the current due.
    • Rate of the policy reinstatement fee has been stated in the policy.
    • Premium of riders that will be reinstated a part of effective coverage can be paid on the current due.
    • The original HI (HI.1, HI.2, HI. special) must be converted to HP.2011 (previous HI has been obsoleted)
  2. Reinstatement by redating : the insured reinstate the policy without paying back premium payments. The effective date of reinstatement will be postponed in equivalent to the next premium payment due as calculated to be the only overdue premium in one mode, on which calculated on the newly effective date of reinstatement and the payment details are as follows;
    • Paying the increased life premium at the insured’s attained age (if any)
    • Paying the interest rate specified in the policy on the increasing life premium at the insured’s attained age.
    • Paying the current premium of riders to continue the special reinstatement coverage in case of more than one year lapsation.

* The policy has been effective more than two years and has a cash value that cannot be reinstated by redating.

Request for Repayment of the Extended Term or Paid-Up policy

Documentation requiredading

  1. A policy reinstatement form. download form
  2. The medical requirement.
  3. A photocopy of the ID card with the insured’s authorised signature

* The original HI (HI.1, HI.2, HI. special) must be converted to HI.2011

Remarks:

  1. The Company reserves the right to request further medical information.
  2. Policy with WP.,GTR., and GTR.2, the parents or guardians must act as the insured.
  3. The insured is responsible for any medical expenses.

Detail

Premium payment collection as follows;

  • Paying all outstanding premiums of life and the endowment rider, the insured must pay back all overdue until the current due.
  • Rate of the policy reinstatement fee stated in the policy.
  • A part of effective coverage of previous rider premiums can be paid on the current due.
  • Paying outstanding debts (if any), including interest rate stated in the policy.
  • Paying back the surplus amount which is the remaining cash value of policy after being calculated to convert into the extended term or paid-up policy status (if any)
  • Paying back the cash value of the endowment rider (if any)

Repayment of the Automatic Premium Loan (APL.)

Detail

Premium payment collection as follows;

  • A premium payment (APL)
  • Paying the interest rate of APL stated in the policy

Request for Cancellation or Surrender of Policy

Documentation required

  1. A request form or a request letter from the insured. download form
  2. The original Insurance Policy
  3. A photocopy of the ID card with the insured’s authorised signature

* In case a direct transfer request has never been submitted, please attach bank book cover page photocopy with the authorised signature.

* Loss of Policy, please submit police report

Detail

  1. Requesting for cancellation of policy, the insured wishes to cancel for any reasons, the insured is to return the policy to the Company within 15 days from the date when the insured received policy (in general provision), or within 30 days from the effective date and the Company received the cancellationform of the policy. The premium refund is deducted from the medical expenses and 500 Baht for processing fee.

    * If the insured has already reimbursed claims, the insured has no right to cancel this policy

  2. Requesting for surrender the policy, the insured continues paying the premium payment until the policy has a cash surrender value and the policy must remain valid. The insured is entitled to terminate the policy by surrendering the policy and receives the amount payable as stated in the policy’s cash value schedule with any other entitled benefits (if any), deducted any debts (if any).
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