As the matter of fact that COVID-19 is spreading worldwide, including in Thailand, and the situation still unfolds, the company has been aware of this and hence announces relief measures to support our policyholders as below.
The measures are applied to the insured who has policy premium due between December 2020 and May 2021
- The company extends premium payment grace period from 31 days to be 91 days without interest to be charged for delayed payment within the specified period. The policy is still in force with all coverage and benefits applied as normal.
- In case that the insured does not pay premium within the mentioned grace period and requests to reinstate policy within 6 months after premium due date, the company will waive the interest for this action. Policy coverage and benefits will be applied according to reinstatement rules and conditions.
- If the insured is unable to pay premium within due date and policy has cash value amount, the company will automatically use that amount for premium payment to keep the policy in effect. However, the company will exempt interest up to 6 months.
Instructions for the insured who has intention to apply to these relief measures
- Fill out a ‘Policy change request form’ in item no. 30 by specifying that “I would like to delay premium payment according to the relief measures due to COVID-19 situation”, and put on the signature.
- The insured needs to pay full amount of premium within extended period to continuously receive all benefits and coverage
- The insured can submit policy reinstatement request to the head office or branches from January 11, 2021 onwards.
- The Company reserves the right for approval case by case.
- In case of any changes that are not included in this announcement, the company reserves the right to follow normal procedures.