To protect against financial loss caused by death or total permanent disability. With Short Term Endowment Life Insurance, you can get not only savings but also insurance coverage and you can get more than that your total premium payment at Maturity Benefit.
Why should we save with Short Term Endowment life insurance?
Anyone saves their income for many purposes and variety of methods throughout their entire life. However, the unfortunates would have come across before their saving period is due. AMI Life’s Short Term Endowment Life insurance plan provide the life insurance coverage during the saving period and entitle the maturity benefit once the saving period is due.
- Maturity Benefit
- Death Benefit
- Total and Permanent Disability Benefit
- Paid-up Benefit
- Surrender Value Benefit
- Eligibility – Individual policy
- Eligible Age – between 10 years to 60 years
- Policy term – 5 years, 7 years, 10 years
- Sum Insured amount – Minimum MMK 1,000,000 up to MMK 50,000,000
- Premium – Premium will be calculated based on Insured’s Age and Sum Insured amount (Premium Calculator – link)
Why should be insured?
(1) Saving Practise
The policyholder shall obtain the saving practise to realise the life objectives.
(2) Interest income and maturity benefit at the due
The policyholder shall receive the interest benefit and maturity benefit in addition to the life insurance benefit.
(3) Focus only on the targeted saving amount
The policyholder can only focus on their regular saving practise to realise their dreams, the insurance and benefit issue will be responsible by AMI Life
- The term of the policy will be from 5 years (or) 7years (or) 10 years
- Any person who has the age between 10 to 60 years old can buy the coverage but the person who is between 56-58 can get the coverage up to 7 years and the person between 59-60 can insure only 5 year insurance policy term.
- The person between the age of 10 -18 years can insure with the parent’s aggrement
- Sum insured amount will be ranged from 10 lakhs to 500 lakhs.
- Paid-up value- Customers are eligible to receive the paid premium at the end of the policy term
- Surrender value or Cash value- if the policy owner wishes to terminate his/her policy before the maturity date, he/she will receive part of the paid-up value as the Cash Value or Surrender Value. Customer is eligible to claim surrender value only after one year of premium payment.
- Policy Loan: Part of the paid premium will be granted as a Policy Loan to the insured person after one year of premium payment
- The insurer must be able to take medical check up if necessary based on the insured amount or their age under our authorized clinics or hospitals.