Insurance Coverage
- Death
- Total permanent Disability
- Injury
Benefits
- Death/Total Permanent Disability – Total Sum Insured amount will be paid as lump sum to the beneficiary.
- Injury due to Accident – The benefit calculation is based on doctor’s recommendation/ medical certificate under the insured’s name.
Policy term
- Policy Term will be from 1 year
Footnotes
- Group Life insurance is eligible when there are at least 5 employees
- If the employee is the age of over 45 years or the insured amount is over 1 million Kyats, medical certificate from a qualified physician is prerequisite. The insured person shall bear the cost of medical examination required and stipulated by AYA Myanmar Life Assurance Co., Ltd.
- Insurance period is one year and premium shall be paid at once.
- Insurance will be effective the day the premium is fully paid.
Eligible person
- Any person between 18 to 60 years old can get the coverage.
- Either employer or employees themselves can buy this policy
- Minimum Number of people for group policy: 5 members and above
Sum Insured
- Minimum MMK 10,000 up to Maximum MMK 5,000,000
Premium
-
- Premium rate will be 1% of total sum insured
Exclusion
- Suicide
- Drug abuse
- If any employee from an insured list resigns or made redundant, he or she is not entitled to the benefits for the death and injuries afterward.
- There shall be no compensation for the injuries resulting from the crimes committed by the employee.
- There shall be no compensation for intentional self-inflicted injuries by the employees themselves.
