Smart Saving Plus 5/3
At the end of each policy year, the survival benefit (annual coupon) will be given to the policyholder.
The premium rate is the same fixed rate for all age groups.
For the policyholder, in addition to enjoying savings benefits during the policy term and receiving coverage for natural death, additional protection for accidental death is also provided through the inclusion of an Accidental Death Benefit Rider. Since the premium for the Accidental Death Benefit Rider must be paid for 5 years, the premiums for the remaining 2 years will be deducted from the survival benefits of the 3rd and 4th policy years, respectively.
Anyone who purchases Smart Saving Plus 5/3 with the Initial Sum Assured of 200 Lakhs MMK & above can become a CB Life Prestige Member.
Smart ProTek Plus 5/5 can be purchased with Smart Saving Plus 5/3 to get comprehensive coverage. The insured will receive not only high returns on the premium but also high protection coverage while maintaining regular saving habits and strong personal income-tax savings.
Smart Legacy 5/5
Anyone who purchases Smart Legacy with the Initial Sum Assured of 100 Lakhs MMK & above can become a CB Life Prestige Member.
This product is suitable especially for the middle-aged customers who wants to get life insurance coverage while saving money since the premium rate is the same fixed rate regardless of age range and occupation class.
The insured must notify the company within 60 days from the date of those events along with the complete documents mentioned in the policy provision. After the insured has informed the company about the claim requisition, the company will provide the benefit within (15) working days to the insured person or the beneficiary after conducting investigations and related working processes. The policy will be terminated, and there will be no more insurance coverage from the day after the benefit is taken.
The initial sum assured cannot be altered in any way, but the premium payment mode and the beneficiary can be changed under the terms and conditions of the policy.
Smart ProTek Plus 5/5 can be purchased with Smart Legacy 5/5 to get comprehensive coverage. The insured will get not only high returns on the premium but also high protection coverage while maintaining regular saving habits and strong personal income-tax savings.
Saving
Single Premium Endowment Life Insurance
The insurer will return the total premiums paid plus 2 % interest.
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Policy Term (Year)
Death Benefit
5
Death occurred within 1 year of policy term
Total premium and 3% interest rate
4
Total premium and 2% interest rate
3
Total premium and 1% interest rate
For any insurance term the insured will receive the sum insured amount if the insured dies after 1 year.
The insurer will return lump sum amount of sum assured after deducting outstanding amount if the insured or policyholder has death case over 1 year in any policy term.
-
Policy Term (Year)
Death Benefit
5
Death occurred within 1 year of policy term
Total premium and 3% interest rate
4
Total premium and 2% interest rate
3
Total premium and 1% interest rate
For any insurance term the insured will receive the sum insured amount if the insured dies after 1 year.
Total premium paid = 83 % of sum insured
= 83 % x 10,000,000 Kyats
= 8,300,000 Kyats
Benefit = Total premium paid + 2 % interest rate on total premium paid
= 8,300,000 Kyats + 2 % x 8,300,000 Kyats
= 8,300,000 Kyats + 166,000 Kyats
= 8,466,000 Kyats
|
3 Years Policy Term |
|||
|
Sr. No. |
Age of Insured |
Sum Insured (Kyats) |
% of Sum Insured |
|
1. |
18 – 40 |
14,100,000 – 20,000,000 |
91 % |
|
2. |
18 – 40 |
7,100,000 – 14,000,000 |
93 % |
|
3. |
18 – 40 |
5,000,000 – 7,000,000 |
95 % |
|
4. |
41 – 50 |
7,100,000 – 20,000,000 |
93 % |
|
5. |
41 – 50 |
5,000,000 – 7,000,000 |
95 % |
|
6. |
51 – 60 |
5,000,000 – 20,000,000 |
95 % |
|
4 Years Policy Term |
|||
|
Sr. No. |
Age of Insured |
Sum Insured (Kyats) |
% of Sum Insured |
|
1. |
18 – 40 |
14,100,000 – 25,000,000 |
81 % |
|
2. |
18 – 40 |
7,100,000 – 14,000,000 |
83 % |
|
3. |
18 – 40 |
5,000,000 – 7,000,000 |
85 % |
|
4. |
41 – 50 |
7,100,000 – 25,000,000 |
83 % |
|
5. |
41 – 50 |
5,000,000 – 7,000,000 |
85 % |
|
6. |
51 – 60 |
5,000,000 – 25,000,000 |
85 % |
|
5 Years Policy Term |
|||
|
Sr. No. |
Age of Insured |
Sum Insured (Kyats) |
% of Sum Insured |
|
1. |
18 – 40 |
14,100,000 – 25,000,000 |
71 % |
|
2. |
18 – 40 |
7,100,000 – 14,000,000 |
73 % |
|
3. |
18 – 40 |
5,000,000 – 7,000,000 |
75 % |
|
4. |
41 – 50 |
7,100,000 – 25,000,000 |
73 % |
|
5. |
41 – 50 |
5,000,000 – 7,000,000 |
75 % |
|
6. |
51 – 60 |
5,000,000 – 25,000,000 |
75 % |
Death Benefit = 100 % of sum assured
= 10,000,000 Kyats
Smart Savings 5/2 Life Insurance
The coupon will be transferred to your provided bank account automatically every year.
No, the coupon will stay the same until the policy is mature as a Guaranteed Return.
This Smart Savings 5/2 covers for the Death only when comes to Accident.
Student Life Insurance
- No one else needs to pay for the premium anymore.
- Also, the education fees will be given out to your child for 4 consecutive years when the policy date is entitled.
Because this Student Life product is aiming for University Student that’s why it’s given out 4 consecutive years instead of 1 time only.
For example, the Sum Insured is 80,000,000 ks and the child (Insured Age) is 9 years
Policy Term is 11 years
Premium Term is 8 years
Education benefit = 20,000,000 Kyats (25 % of SI) when insured turns 17 years old
= 20,000,000 Kyats (25 % of SI) when insured turns 18 years old
= 20,000,000 Kyats (25 % of SI) when insured turns 19 years old
= 20,000,000 Kyats (25 % of SI) when insured turns 20 years old