FWD Life Assurance, in partnership with Siam Commercial Bank, has launched a new savings insurance product with an Index-Linked structure called "Multi Asset 14/6." This product combines life coverage, savings, and the opportunity for additional returns linked to the Canopy 11.5% Volatility with 3% Decrement Index, developed by Goldman Sachs, using a multi-asset diversification strategy. The target customers are Mass Affluent clients with a minimum annual premium of 50,000 baht, and High Net Worth clients with premiums starting at 1 million baht per year. The product offers an annual cashback of 1% of the sum assured for years 1-13, and a maturity benefit of 590% of the sum assured, plus the opportunity for additional returns from the index, with a maximum participation rate of 2.65 times for the Multi Asset Elite version, which requires a sum assured of at least 1 million baht. Premiums are tax-deductible up to 100,000 baht, and no medical examination is required. However, returns from the index are not guaranteed, and the index has a 3% annual decrement, which may cause returns to differ from direct investment.
FWD Group Holdings LtdFWD launches a new index-linked insurance product targeting affluent clients, likely boosting sales and market presence.
Goldman Sachs Group Inc
SCB X Public Company LimitedSCB partners to distribute the new insurance product, potentially expanding its wealth management offerings and fee income.
