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Single Premium Credit Life Insurance

Insurable Person

  • A person or organization which has the right of possession by the insurance policy

 

Insured person

  • Those whose age is from 18 to 62 years old and those who get the loan from the Bank and Microfinance Organizations.

 

Type of Insurance

  • (Decreasing Term Life Insurance)

 

Policy holder

  • a person or group in whose name an insurance policy is held.

 

Beneficiary

  • The insured person or the family member who derives benefits by the policy.

 

Required documents

  • Copy of Identity cards of Insured person and Policy holder
  • Insurable Age – between 18 years old and 62 years old
  • Insurance Period – 3 years to 15 years
  • Sum Insured Amount – Minimum 1,000,000 KYATS to maximum 30,000,000 KYATS
  • Medical Checkup – The insured needs to show medical results from any Clinic and Hospitals which have certificate from Ministry of Health and Sport. Myanma Insurance will bear the cost.

 

Benefits

  1. If the borrower (the loanee) dies or suffers total permanent disability by the unexpected incidents, the banks or microfinance organizations can get back their loan.
  2. If the borrower (the loanee) dies or suffers total permanent disability by the unexpected incidents, the family does not need to worry about the loan payment for the property with installment payment.
  3. Tax waiver on the premium

Agent commission rate is 7 % of the single pay premium.

All Products

Government Personnel (Short Term) Endowment Life Assurance

Government Personnel Life Assurance

Army Personnel Life Assurance

Public Life Assurance

Short Term Endowment Life Insurance

Education Life Insurance

Student Life Insurance

Shore Job Life Insurance

Seamen Life Insurance

Seamen Life Insurance (Plan)

Local Seamen Life Insurance

Farmers’ Life Insurance

Snake Bite Life Insurance

Group Life Insurance

Public Term Life Insurance

Sportsmen Life Insurance

Health Insurance including Covid-19 Cover

Critical Illness Insurance

Micro Health Insurance

Single Premium Credit Life Insurance

Short Term Single Premium Credit Life Insurance

Single Premium Endowment

Smart Saving 5/2 Life Insurance

Third Party Liability Insurance

Inbound Travel Insurance For USD

Fire & Allied Perils Insurance

Burglary Insurance

Fidelity Insurance

Cash-in-Safe Insurance

Cash-in-transit Insurance

Personal Accident & Disease Insurance

Personal Accident Insurance

Workmen's Compensation Insurance

General Third Party / Public / Commercial General Liability Insurance

Contractor’s Plant and Machinery Insurance

Deposit Insurance

Marine Cargo Insurance

Marine Hull & Machinery Insurance

Aviation Hull Insurance

Aviation Liability Insurance

Travel Insurance

Ship Owner and Ship Operator's Liability Insurance

Kyar Fishing Barge Owner’s Liability Insurance

Oil & Gas Insurance

Comprehensive Motor Insurance

Credit Guarantee Insurance

Contractors’ All Risks Insurance

Erection All Risks Insurance

Electronic Equipment Insurance

Miners’ Liability Insurance

Reinsurance

Machinery Insurance

Contact Phone Number

Life Insurance (Underwriting) Department

01 - 8391990

Life Insurance (Claim) Department

01 - 8384881

Life Reinsurance Department

01-8386919

Motor Vehicle Insurance (Underwriting) Department

09-880 177 428

Motor Vehicle Insurance (Claim) Department

09-880177427

Marine, Aviation & Travelling Insurance (Underwriting) Department

01-8251761 , 01- 8391993

Marine, Aviation & Travelling Insurance (Claim) Department

01-8251761

Fire, Engineering and Miscellaneous Insurance (Underwriting) Department

01-384867

Fire, Engineering and Miscellaneous Insurance (Claim) Department

01-8251762

General Reinsurance Department

01-8384880

Admin Department

01-8379088, 01-8384865,
01-8252372, 01-8246902

Account Department

01-8384868, 01-8384870

Marketing Department

01-8391995, 01-8391996

Duty Room

01-8379188