What is premium waiver benefit? When the policy holder is died and become total and permanent disability, all the future premiums will be waived.
When does the policy can be paid-up? When the policy holder paid the premium for three consecutive years, he/she can paid-up the policy.
How the cash paid-out benefit giving? Cash paid-out benefit is giving 4 consecutive years starting from the date when the insured person (the child) is 17 years old. The benefit amount will be 25% of the Sum Insured.
When can loan benefit be offered from the student life insurance? Loan benefit can be offered when the policy holder paid the premium for three consecutive years (the policy is in-forced).
Can I pay the loan capital monthly? No, loan capital must be paid as lump sum.
When can the insured get the surrender value from the policy? The surrender value will be paid after policy is in-forced. The policy is in-forced when the policy holder paid the premium for 3 consecutive years.
What is double-benefit plan in education life insurance? Double benefit plan offers death and total permanent disability benefit added on basic benefit.
How much interest rate will be paid for the policy loan? Loan interest rate 15% per year will be paid for the policy loan.
How can the insured pay the premium? The premium can be paid monthly, quarterly, bi-yearly, and yearly.
Can I pay the loan capital monthly? No. Loan capital must be paid as lump sum.
Can the employee claim after he/she resign? No. The employee cannot claim after resignation.
Does the proposer need a medical checkup process to purchase the health policy? If the employee is the age of over 45 years or the insured amount is over 1 million Kyats, a medical checkup is required.
How will the injury benefit be calculated? The benefit calculation is based on doctor’s recommendation and/or medical certificate under the insured’s name.
Is the employee’s death due to disease valid? Yes.
Does the policy cover for the outside of the worksite injury? Yes.