• Validity of insurance contract
In case that the insured knowingly makes false statement or knowingly omits to disclose any fact to the Company for acknowledgement while applying for the insurance, where if the Company had known of such fact, the Company may be induced to charge higher premium or refuse to enter into the insurance contract, then this insurance contract will be voidable according to Section 865 of the Civil and Commercial Code which the Company has the right to void the insurance contract and not to make any policy payment. The Company's liability will be limited to returning all premium paid to the Company.
• Exclusion of Muang Thai Super Protection 90/5 Insurance Plan
1. In case the insured voluntarily commits suicide within one year from the effective date or the latest date of renewal or reinstatement of the insurance policy or the date that the Company approves to increase the sum insured amount which shall apply to the increasing sum insured amount only.
2. In case the insured is murdered intentionally by the beneficiary.
3. In case the insured declares an incorrect age and the Company can prove that at the time of insurance contract formation, the actual age is outside the premium rate limit according to the normal business practice of the Company.
• Exclusion of Waiver of Premium for Insured Benefit Rider
(insurable age is 20 – 59 years old and coverage is provided until the age of 60) with a total of 5 articles
For example, the rider shall not provide disability coverage for any of the following causes:
1. Voluntary suicide attempt or self-inflicted injury;
2. Bodily injury as a result of traveling or acting as a cabin crew in any non-commercial aircrafts;
3. War whether declared or undeclared, riot, rebellion, revolution or coup d’etat, etc.
Remark : Only life insurance premium of this campaign is entitled for personal income tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax No. 172 announced on 30 December 2008.
Warning: Buyer should have an understanding in the details of coverage and conditions before making a decision to purchase insurance every time.