No wonder there's a "drama" with a product called "insurance"!!

Today, receiving a call from a friend who is (trying to) collect money, has gone to a bank and has sold all the shares and funds that he holds because he thinks he will not survive because he does not have time to sit and watch and wants to start collecting money systematically like setting zero port.

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After closing and selling the entire pile, the bank officials 👩‍💻 quickly introduced the friend 👩 according to this conversation.

Employee 👩‍💻: Do you invest in collectible insurance or pension insurance? It's not a loss, it's a tax deduction. What is the tax base now?

👩 friend: 20-25%, but the first hundred thousand insurance is full.

Staff 👩‍💻: I bought it and got a tax break immediately.

We sat down and heard, well, what he was saying was right, because our friend bought something purely emotional. Whoever said it was good, the script wouldn't really take anything, so this one might suit her and let her continue.

Staff 👩‍💻: So this one. Pension insurance pays 50,000 a year for only 10 years, and then year 11 can take the money out.

At this point, we asked a friend again, what? They said they were only down for 10 years and took the money on the policy page.

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At this point, we told a friend that if you really want to buy this, go buy it with someone else, don't buy it with this person, because

🙂 This bail form is a pension insurance form. If purchased, the maximum benefit is to receive the pension specified in the contract, receive from the age of 60-85 (as specified in the policy), not just 10 years and then expropriate. It is the creation of a retirement pension system.

In which pension insurance is tax deductible.

✅ not more than 15% of the money should be assessed.

✅ not more than 200,000 baht per year (if the first 100,000 is uninsured, can buy up to 300,000 baht)

But when combined with RMF, PVDF, Ghosh, and Teacher Relief Fund, it must not exceed 500,000 baht.

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In addition, what the bank representatives have presented has mainly discussed the issue of tax concessions, but they say that there is an option to expropriate in the 11th year. This is the danger point because it will be retroactively taxed in the year we take this premium to tax concessions.

Because the conditions for reducing pension insurance are as follows:

1.Pension life insurance policies have a deadline of 10 years or more.

2. Do with the insurer in Thailand

3. Pay pension benefits in regular instalments with a certain amount of instalment. Or the first pension may be set as a sum, but not more than 30% of the insured amount.

4. The age of payment of pension benefits is determined when the moneyor is 55 or older to 85 or older, and the moneyor has to pay the full premium before receiving the pension benefit.

* (Reference to the Notice of the Director-General of Inland Revenue on Income Tax (No. 194 and No. 462).

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So we finally think about the past drama, the real problem is not the product itself, the so-called insurance, but the presentation method.

Because each financial product that comes out has different advantages and limitations, but the wrong presentation leads to misunderstanding of the customer.

And finally, when customers lose their usefulness, products with advantages are stereotyped as bad for everything. 😥

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So leave it to anyone who has pension insurance or other forms of insurance on hand to buy it with the problem of "tax relief." Don't expropriate it if you don't want to get back taxes and fines.

And before buying any financial product, come back to the question: What did we buy for?

# Pension insurance # Property insurance # Tax break # Tax plan