Bangkok--Nov 25--MDK Consultants (Thailand)
Ayudhya Allianz C.P. Life (AACP) is to introduce Ayudhya Secure Savings 10/2 (Participating), a new policy that provides a tax-free return of 5.7 per cent a year whereby the policyholder pays premium only two years.
Wilf Blackburn, President of Ayudhya Allianz C.P. Life said: “AACP recently launched Ayudhya Secure Savings 10/1, a high-yielding single premium product, to allow customers to lock in to higher yields. The policy provides cover of 10 years and annual cash payment whereby the policyholder pays only single premium. It was quickly sold out with the total premium amounting to 1,000 million baht within 10 days. “
In order to serve its customers need in savings market, AACP plans to offer the policy during 25-30 November 2005 or until the target total premium amount reaches 750 million baht, whichever comes first, according to Mr Blackburn.
He said that Ayudhya Secure Savings 10/2 (Participating) is a savings plan which provides both death cover and savings with high returns — a tax-free return of 5.7 per cent a year which is higher than that of other financial institutions’ deposit interest rate. It also provides cover of 10 years whereby the policyholder pays premium for only two years with minimum sum assured of 200,000 baht. While the policy is in force, the insured will be provided life protection of 105 per cent of the sum assured.
Where the insured is alive, the annual guaranteed dividend will be paid to the insured from the end of the second policy year until the end of the term at 5.7 per cent of the sum assured. The policy provides death cover of 105 per cent of the sum assured from the second policy year until the end of the term. The maturity benefit, if the policyholder is alive at the end of the term, is 100 per cent of the sum assured without deduction of benefits received. Its premium paid can be used for a tax deduction on actual amount up to 50,000 baht a year.
Mr Blackburn added that the company expects that the launch of Ayudhya Secure Savings 10/2 (Participating) will be another channel for agency forces to propose to a wider range of potential customers. It will also offer them an opportunity to increase their production to achieve a target of “3,000 millions baht within 3 months” by the end of 2005.
Note to Editors
Ayudhya Allianz C.P. Life Public Company Limited is a leading Thai life insurance company, built on the strengths of three powerful and reputable business groups: the Bank of Ayudhya Group, Allianz and Charoen Pokphand (C.P.). The company offers a comprehensive range of innovative products, tailored to serve the needs of both individual and corporate customers, including whole life protection, savings and education plans, accident insurance, health plans and employee benefits coverage. The company is currently one of the top three players in the market, in terms of new business and total market share. It is trusted by over 500,000 policyholders nationwide and has been in operation in Thailand for more than 50 years.
For more information, please contact :
Ayudhya Allianz C.P. Life Pcl.
Nuansri Vithayasricharoen
Saisamorn Lertkhochlug
Direct Line: 0-2305-7407
MDK Consultants (Thailand) Ltd.
Ratchada Pasunta / Marut Taveepetch / Tapanee Nanthavisai
Tel: 0-2658-6111 (20 Lines)
Click for photo release at www.thaipr.net End.