Key Benefits

Opportunities for Investment Returns

Premiums after deduction of expenses will be invested in the fund selected by the Insured from a variety of mutual funds carefully curated by AIA.

Single Premium Payment

The sum assured is equivalent to 150% of the single premium.

Life Protection (until the age of 99 years)

As long as the redemption value of investment units is sufficient for the deduction of expenses as stipulated.

Discount on Cost of Insurance (COI)*

For the Insured with a minimum sum assured of 5 million baht and an acceptable standard of health.

*The Company reserves the right to cancel or change the discount rate on the cost of insurance (COI) by giving at least 15 days of prior notice.

Additional Information

Protection and Benefits

Protection

Benefits

1. If death occurs during the policy period*

 

Receive the higher value of
• 150% of the single premium deducted by accumulated withdrawal from redemption value of the single premium (if any); OR
• The redemption value of investment units of the single premium plus 50% of the single premium;
And the redemption value of investment units of the top-up premium (if any)

2. If no death occurs during the policy period

Receive the redemption value of investment units** on the maturity date

3. If cash is partially withdrawn from the policy or the policy is surrendered

Receive the redemption value of investment units deducted by the cash withdrawal charge (if any) or the cash surrender value


*Coverage for death (excludes suicide within the first year or being murdered by the beneficiary).
**Redemption value (RV) refers to the amount calculated by multiplying the total number of investment units by the redemption price on the valuation date of each fund under the policy.
Requirements
  • Insurable age: 1 month - 75 years old
  • Coverage period: Whole of life (until the age of 99) or as long as the redemption value of investment units is sufficient for the deduction of expenses as stipulated in the policy fee schedule
  • Premium paying period: Single premium payment
  • Sum assured: 150% of the single premium
Premium Rates

Standard Premium for the insurable age of 1 month - 75 years old

Minimum Premium***

Minimum Top-up Premium

200,000 baht

10,000 baht, not exceeding 10 times of the single premium and 120 million baht per policy year


***Life insurance premiums of up to 100,000 baht are eligible for personal income tax deduction according to the Notification of the Director-General of the Revenue Department on Income Tax (No.172). (Only the part of the premium charge, administration fee and cost of insurance are eligible for tax deduction according to the criteria of the Revenue Department).
Fund Information and Fee Structure
Mutual funds under this product – Customers can opt for investment through any of the following funds:

Fund Type

Fund Name

Money Market Fund

Bualuang Treasury Fund

Fixed Income Fund

Bualuang Fixed Income Fund

Equity Fund

Bualuang Top-Ten Fund
Buakaew Open-end Fund
Bualuang Infrastructure Open-end Fund

Foreign Investment Fund

Bualuang Asia Equity Fund
Bualuang Global Equity Fund
Bualuang Global Health Care Fund


Note: The insurance company may consider adding or cancelling any funds in the above list for customers to select in the future at the Company’s discretion.

Schedule of Policy Fees and Charges
Purchase/Redemption of Investment Units and the Timeframe for Processing the Transactions
Purchase of Investment Units

  1. In the case that the single premium and the top-up premium are paid together for the first payment, the Company will purchase the investment units on the next business day from the policy approval date.
  2. In the case that the top-up premium payment is made subsequently:
    2.1 If payment is made in cash, the Company will purchase the investment units on the second business day from the policy approval date.
    2.2 If payment is made in cheque, the Company will purchase the investment units on the third business day from the policy approval date.
  3. In the case of fund switching, automatic fund switching or automatic fund re-balancing, the Company will purchase the investment units on the next business day from the policy approval date and the date on which the redemption prices of investment units of all funds are calculated.

Redemption of Investment Units with a Specific Timeframe for Trading of Investment Units

In the case of policy surrender, partial cash withdrawal, or fund switching, the Company will carry out the redemption of investment units before 10.00 a.m. of the business day on which the request form is received and approved.

Redemption of Investment Units without a Specific Timeframe for Trading of Investment Units

In the case of the Insured exercising their right to cancel the policy within the free look period or exercising their right to make a death claim, the Company will carry out the redemption of investment units on the next business day from the date the Company receives the request form.

Redemption of Investment Units with a Specific Interval of Time

  1. Automatic fund switching: When the redemption request form is submitted within the 1st through the 31st of a specific month, the Company will carry out the redemption of investment units on the 21st of the following month and every subsequent month.
  2. Automatic fund re-balancing: When the redemption request form is submitted within the 20th of March, June, September or December, the Company will carry out the first redemption of investment units on the 21st of March, June, September or December respectively.
Rights of the Insured
  1. The Insured has the right to cancel the policy within 15 days from the policy receipt date. In this respect, the Company will return the policy fees and investment portion according to the redemption price of investment units deducted by a fee charge of 500 baht as well as the expenses of a health check-up (if any). If the Insured has made a claim, paid the top-up premium, withdrawn cash from the policy, or submitted a request for fund switching, automatic fund switching or automatic fund re-balancing, the Insured will not be eligible for the right to cancel the policy.
  2. The Insured has the right to surrender the policy according to conditions stipulated in the policy while the policy is in force and has a cash surrender value.
  3. The Insured has the right to receive information about the allocation of premiums invested in the funds.
  4. The Insured has the right to obtain a full prospectus containing details of the mutual fund project from a life insurance broker authorized by AIA.
  5. The Insured has the right to receive a full list of asset management companies offering management service for the unit linked plans proposed by AIA.
  6. The Insured has the right to receive information about the name and address of the management company and AIA as well as the name and license number of the life insurance broker authorized by AIA.
  7. The Insured has the right to be informed of risks associated with the investment units that the Insured is advised to purchase including the warnings and explanations regarding risks of investment in mutual fund units.
  8. The Insured has the right to be informed of facts that have impacts on the Insured’s benefits or on decision-making in investment such as offering of investment units of mutual funds under the process of merger or amalgamation, etc.
  9. The Insured has the right to receive information about conflicts of interest such as fees or remunerations that the authorized broker of AIA may receive from the purchase of an insurance plan as well as from the subscription or redemption of investment units, etc.
  10. The Insured has the right to express the intention to refuse any further contact for a period of two years.
  11. The rights of the unitholders of a unit linked insurance plan under an omnibus account may differ from those subscribing to investment units directly from the management company, for instance:
  • In purchasing a unit linked insurance plan, the subscription price of investment units is not quoted on the purchase date as the life insurance application needs to go through the underwriting process after all relevant documents have been submitted. In this respect, AIA will proceed to subscribe to the investment units for the client after the policy is approved.
  • Receipt of any fund-related documents may require a longer time than when directly purchasing with the management company as AIA will deliver such documents to the clients after receiving them from the management company.
  • AIA will deduct the cost of insurance and policy administration fee (please refer to the Schedule of Fees and Charges) from the auto-redemption of investment units on a monthly basis.

Channels of Complaints for the Insured

The Insured can lodge a complaint to the following units:

  1. AIA Call Center Tel. (66) 0 2353 8855
  2. Branches of Bangkok Bank offering this service or Tel. 1333
  3. Office of the Securities and Exchange Commission (SEC) Tel. 1207
  4. Office of Insurance Commission (OIC) Tel. 1186
  5. Bank of Thailand (BOT) Tel. 1213
How to apply
Seek consultation and advice for life insurance planning by contacting Bangkok Bank branches that offer this service, call 1333, or visit www.bangkokbank.com

AIA Company Limited Tel. (66) 0 2353 8855, Website www.aia.co.th

List of Branches offering Be Together Unit Linked (Single Premium)
Assured by AIA Company Limited

Notes
  • Be Together Unit Linked (Single Premium) is the marketing name of AIA Smart Premier (Unit Linked) Life Insurance Plan.
  • Unit linked life insurance is not a bank deposit and involves risks. The applicant is advised to have an understanding about the product characteristics, conditions of returns and risk structure, as well as to study, read, and have a thorough understanding about the information contained in the sales supporting documents and the fund prospectus before making decisions on insurance and investment. The Insured may receive a return higher or lower than the amount of premium allocated to the fund. If the fund posts a profit, the Insured shall receive a high return, but on the contrary, if the fund encounters a loss, the Insured may get lower return or suffer investment loss in some cases and may not get a full return from the investment. In this regard, the investment part of the unit linked plan is not guaranteed. If the policy is cancelled or surrendered before maturity, the Insured may receive a return less than the amount of premiums that have been paid.
  • The applicant is advised to study details of product information in the prospectus before deciding to buy insurance. After receiving the policy, the Insured is advised to study the terms and conditions in the policy contract.
  • Bangkok Bank is a life insurance broker, acting as an agent between customers and AIA Company Limited. AIA Company Limited conditions apply to insurance approval.
  • A health declaration is one of the factors considered in the policy approval or payout approval process.
  • The applicant has the duty to provide true information in applying for insurance. Any concealment of truth or declaration of false statements may cause the insurance company to cancel the insurance contract or refuse to pay the claims under the insurance contract.
  • Terms and conditions of coverage will be specified in the policy issued to the policyholder.
  • The Insured has the duty to make premium payments. Collection of insurance premiums by the broker is only a facilitation service.
  • The applicant should take into consideration the ability to pay premiums since this policy is suitable for long-term savings and involves fund withdrawal charges which may result in the surrender value and the withdrawal value being lower than the redemption value of investment units. The applicant should study details in the fee schedule regarding cash withdrawal from the policy.
  • The applicant has an option to invest in the funds to fulfill their investment objective and take investment risks on their own. In this respect, the Insured are strongly advised to study the fund’s risks and other details in the prospectus.
  • During the policy’s in-force period, the policy may terminate in any year if the redemption value of the investment units is equal to or lower than zero or the redemption value of investment units is not sufficient to cover the policy fees.
  • A mutual fund is a legal entity separate from the life assurance company and the asset management company. Therefore, the life assurance company and the management company are not obliged to compensate for losses sustained by the funds under the unit linked insurance plan and shall not take advantage of the fund’s assets for the settlement of their own debts.
  • The premium paid by the Insured is subject to deduction of charges, fees and the cost of insurance, and the remaining premium amount will be invested in the mutual funds selected by the Insured.
  • If the fund selected by the Insured is a foreign investment fund, the fund may not have a policy to fully hedge against foreign exchange risk according to the fund manager’s discretion. Therefore, the Insured may have foreign exchange losses or gains from investment or may receive a return lower than the initial investment amount.