SCB and FWD Launch Century Life Insurance Covering to Age 120
SCB and FWD Insurance launched Infinity Legacy 120, Thailand's first life insurance product covering policyholders until age 120, targeting the country's aging population and growing demand for estate tax planning and wealth transfer soluti
Siam Commercial Bank (SCB) and FWD Insurance have unveiled Infinity Legacy 120, a legacy transfer life insurance product offering coverage until age 120—the longest protection period on Thailand's market. The product targets Thailand's aging society and the Great Wealth Transfer trend, positioning life insurance as a critical tool for estate tax planning and creating liquidity for heirs, since insurance payouts are not counted as taxable inheritance.
Thailand has entered a fully aged society, with people living longer and requiring new wealth planning strategies. Napatchcha Pongwattanakijkul, Head of Insurance Business at SCB, revealed that according to UN data, Thailand's population aged 60 and over now represents over 22 percent and is projected to reach 36 percent by 2050. The average Thai life expectancy stands at around 76.8 years with rising longevity trends, aligning with Thailand's push to become a health and longevity economy center.
Meanwhile, the world is entering a major wealth transfer period. Thai banks report growing awareness among high-net-worth clients about legacy planning and tax management. FWD Insurance CEO Nathapisiht Krud Krongchai highlighted that Thailand currently has 43,000 people over age 100, and nearly 300,000 to 400,000 people aged 90 and above, underscoring the need to plan for longevity. "The problem has shifted," he noted. "People used to buy insurance fearing early death and leaving dependents in hardship. Now they fear living too long—will money last, will health hold up?"
Infinity Legacy 120 marks the first time in Thailand that life insurance extends coverage to age 120. Policyholders aged 60–90 can apply without medical exams or health questionnaires (if purchasing this product alone), though those aged 81–90 are evaluated case-by-case. Premiums can be paid in a lump sum or over two years. The product targets SCB's strong wealth client base and FWD's insurance expertise, reflecting a shared vision of customer-centered innovation. As Napatchcha explained, the product emerged from customer insights showing a fundamental shift: people no longer buy insurance out of fear of dying young, but to plan for their family's long-term financial security and wealth transfer. Coverage extending to 120 is not merely a number, she said, but a response to the reality of increasing longevity.
