Happy Pension (Par)

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 Turning 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.

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
  • Underwriting is in accordance with the underwriting conditions of the company

Single Premium Payment

 
Coverages Benefits
1. Survival Benefit
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of their 99th birthday.)
  • Receive Annuity of 0.01% of the insured amount.
  • A chance of receiving an Extra annuity benefits each year of 0.01% of the Extra Sum Assured (if any).
2. Before Annuity Payment
(Between the date the contract takes effect and the policy anniversary before the insured's 60th birthday.)

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

 

3. During Annuity Payment
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of the insured's 99th birthday)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends on the policy anniversary of the 59th birthday,
deducted by the accumulated received Special Annuity Payment.(2)

 

 

(1) In the event that the accumulated pension (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 date of the insured's 59th birthday, 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

(1) During the pension window period, the company may consider increasing the special sum assured based on the dividend on the policy anniversary date of the insured's 59th birthday. This dividend is calculated based on the return on investment of the assets of the dividend-paying product group from when the contract is in effect. Coverage for the special sum assured is effective until the anniversary of the policy in which the insured turns 59 years old. The company will deduct this amount from the total cost of the insurance policy and allocate 80% of it to the insured. This allocation is subject to the conditions, requirements, and methods for calculating dividends that the company determines on the anniversary of the policy in which the insured reaches 59 years of age.

If the insured dies or exercises the right to surrender the insurance policy before the policy anniversary on which they turn 59, the company may not consider increasing the special sum assured.

(2) The average return on investment throughout the contract from the start of coverage until the policy anniversary of the insured's 59th birthday is only one factor used in the dividend calculation. The average return on investment over the contract shown is estimated from the company's average return on investment. The actual return on investment received may be higher or lower than what is shown. The insured should consider the information in the sales offering document before making a decision to purchase a life insurance policy product.

The average return on investment from the effective date of the contract until the policy anniversary of the insured's 59th birthday is the return that the company receives from the investment of dividend-paying product assets over the contract period. Coverage begins until the policy anniversary date in which the insured turns 59 years old. The annual return on investment can be viewed via 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: yearly, 6-monthly, 3-monthly, and 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.
  • Underwriting is in accordance with the underwriting conditions of the company.

Premium payment period of 5 years

 
Coverages Benefits
1. Survival Benefit
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of their 99th birthday.)
  • Receive annuity of 20% of the insured amount.
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Before Annuity Payment
(Between the date the contract takes effect and the policy anniversary before the insured's 60th birthday.)

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

 

3. During Annuity Payment
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of the insured's 99th birthday)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends on the policy anniversary of the 59th birthday,
deducted by the accumulated received Special Annuity Payment.(2)

 

 

(1) In the event that the accumulated pension (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 date of the insured's 59th birthday, the company will not pay death benefits and the insurance policy will terminate immediately.

Example: Annual premium to receive a yearly annuity of 10,000 Baht.* (Extra Annuity benefits excluded)

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

(1) During the pension window period, the company may consider increasing the special sum assured based on the dividend on the policy anniversary date of the insured's 59th birthday. This dividend is calculated based on the return on investment of the assets of the dividend-paying product group from when the contract is in effect. Coverage for the special sum assured is effective until the anniversary of the policy in which the insured turns 59 years old. The company will deduct this amount from the total cost of the insurance policy and allocate 80% of it to the insured. This allocation is subject to the conditions, requirements, and methods for calculating dividends that the company determines on the anniversary of the policy in which the insured reaches 59 years of age.

If the insured dies or exercises the right to surrender the insurance policy before the policy anniversary on which they turn 59, the company may not consider increasing the special sum assured.

(2) The average return on investment throughout the contract from the start of coverage until the policy anniversary of the insured's 59th birthday is only one factor used in the dividend calculation. The average return on investment over the contract shown is estimated from the company's average return on investment. The actual return on investment received may be higher or lower than what is shown. The insured should consider the information in the sales offering document before making a decision to purchase a life insurance policy product.

The average return on investment from the effective date of the contract until the policy anniversary of the insured's 59th birthday is the return that the company receives from the investment of dividend-paying product assets over the contract period. Coverage begins until the policy anniversary date in which the insured turns 59 years old. The annual return on investment can be viewed via 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: yearly, 6-monthly, 3-monthly, and 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.
  • Underwriting is in accordance with the underwriting conditions of the company.

Premium payment period of 10 years

 
Coverages Benefits
1. Survival Benefit
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of their 99th birthday.)
  • Receive annuity of 20% of the insured amount.
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Before Annuity Payment
(Between the date the contract takes effect and the policy anniversary before the insured's 60th birthday.)

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

 

3. During Annuity Payment
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of the insured's 99th birthday)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends on the policy anniversary of the 59th birthday,
deducted by the accumulated received Special Annuity Payment.(2)

 

 

(1) In the event that the accumulated pension (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 date of the insured's 59th birthday, the company will not pay death benefits and the insurance policy will terminate immediately.

Example: Annual premium to receive a yearly annuity of 10,000 Baht.* (Extra Annuity benefits excluded)

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

(1) During the pension window period, the company may consider increasing the special sum assured based on the dividend on the policy anniversary date of the insured's 59th birthday. This dividend is calculated based on the return on investment of the assets of the dividend-paying product group from when the contract is in effect. Coverage for the special sum assured is effective until the anniversary of the policy in which the insured turns 59 years old. The company will deduct this amount from the total cost of the insurance policy and allocate 80% of it to the insured. This allocation is subject to the conditions, requirements, and methods for calculating dividends that the company determines on the anniversary of the policy in which the insured reaches 59 years of age.

If the insured dies or exercises the right to surrender the insurance policy before the policy anniversary on which they turn 59, the company may not consider increasing the special sum assured.

(2) The average return on investment throughout the contract from the start of coverage until the policy anniversary of the insured's 59th birthday is only one factor used in the dividend calculation. The average return on investment over the contract shown is estimated from the company's average return on investment. The actual return on investment received may be higher or lower than what is shown. The insured should consider the information in the sales offering document before making a decision to purchase a life insurance policy product.

The average return on investment from the effective date of the contract until the policy anniversary of the insured's 59th birthday is the return that the company receives from the investment of dividend-paying product assets over the contract period. Coverage begins until the policy anniversary date in which the insured turns 59 years old. The annual return on investment can be viewed via 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: yearly, 6-monthly, 3-monthly, and 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.
  • Underwriting is in accordance with the underwriting conditions of the company.

Premium payment period until age of 60

 
Coverages Benefits
1. Survival Benefit
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of their 99th birthday.)
  • Receive annuity of 20% of the insured amount.
  • A chance of receiving an Extra annuity benefits each year of 20% of the Extra Sum Assured (if any).
2. Before Annuity Payment
(Between the date the contract takes effect and the policy anniversary before the insured's 60th birthday.)

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

 

3. During Annuity Payment
(Between the policy anniversary of the insured's 60th birthday and the policy anniversary of the insured's 99th birthday)

The benefit value is the accumulated life insurance premiums
deducted by accumulated Annuity paid (excluding Extra Annuity benefits)(1)
and dividends on the policy anniversary of the 59th birthday,
deducted by the accumulated received Special Annuity Payment.(2)

 

 

(1) In the event that the accumulated pension (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 date of the insured's 59th birthday, the company will not pay death benefits and the insurance policy will terminate immediately.

Example: Annual premium to receive a yearly annuity of 10,000 Baht.* (Extra Annuity benefits excluded)

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
2,184,600 2,184,600 2,184,600 2,184,600
  1. Total benefit that exceeds than the total
    premium paid (4.-5.)
2,615,400 2,668,160 3,017,480 3,366,800

(1) During the pension window period, the company may consider increasing the special sum assured based on the dividend on the policy anniversary date of the insured's 59th birthday. This dividend is calculated based on the return on investment of the assets of the dividend-paying product group from when the contract is in effect. Coverage for the special sum assured is effective until the anniversary of the policy in which the insured turns 59 years old. The company will deduct this amount from the total cost of the insurance policy and allocate 80% of it to the insured. This allocation is subject to the conditions, requirements, and methods for calculating dividends that the company determines on the anniversary of the policy in which the insured reaches 59 years of age.

If the insured dies or exercises the right to surrender the insurance policy before the policy anniversary on which they turn 59, the company may not consider increasing the special sum assured.

(2) The average return on investment throughout the contract from the start of coverage until the policy anniversary of the insured's 59th birthday is only one factor used in the dividend calculation. The average return on investment over the contract shown is estimated from the company's average return on investment. The actual return on investment received may be higher or lower than what is shown. The insured should consider the information in the sales offering document before making a decision to purchase a life insurance policy product.

The average return on investment from the effective date of the contract until the policy anniversary of the insured's 59th birthday is the return that the company receives from the investment of dividend-paying product assets over the contract period. Coverage begins until the policy anniversary date in which the insured turns 59 years old. The annual return on investment can be viewed via 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. Premiums payment is the responsibility of the insured. Premium collection by life insurance agents and brokers 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. Life insurance premiums is eligible for tax deduction in accordance with the announcement from 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 plan 60 (Par) – Payment to age 60 years

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