Single Premium Endowment Life Insurance
Single premium endowment life insurance aims to provide financial assistance in case of unanticipated events as well as to save predetermined amount of money after a certain period.
What you get!
• Financial security
• Good savings habit
• Tax savings plan
Key Features
• Policy Term: 3 years, 4 years, 5 years (As you choose)
• Premium Term: 3 years, 4 years, 5 years
• Get started with 5,000,000 Kyats or up to 25,000,000 Kyats
• Insurable Age: 18 – 60 years old
Benefits
• Death
• Maturity
Exclusions
• Due to committing suicide within one year of policy term.
• Due to undisclosed pre-existing illness or disease within one year of policy term.
Smart Saving 5/2 Life Insurance
Smart saving 5/2 life insurance aims to provide financial security and better saving habits for Myanmar citizens and foreign expatriates.
What you get!
• Financial security
• Good savings habit
• Tax savings plan
• Annual Coupon
Key Features
• Policy Term: 5 years
• Premium Term: 2 years (from policy commencement date)
• Get started with 3,000,000 Kyats or up to $ 15,000 (USD) equivalent to Myanmar currency
Eg: $1 USD = 1,450 Kyats (Exchange rate can fluctuate daily)
$15,000 USD = 21,750,000 Kyats
• Insurable Age: 5 – 65 years old
The applicant between 5 to 18 years old will require guardianship.
• Non-medical requirement
Benefits
• Survival
• Maturity
• Death & Accidental Death Benefit (ADB)
(If the policyholder/ insured dies due to an accident during policy term, the beneficiary would receive up to 300% of sum assured which will be adjusted with paid premium)
•Annual Coupon ( Cash Back- 5% to 10% of Initial Sum Assured)
Exclusions
If the insured dies due to the following occurrences the beneficiary cannot receive the policy benefit. CB Life will return all premiums paid to the beneficiary.
– Commit suicide within one year from policy commencement date
– Intentional self-harm
– Use of narcotic drugs
– Political unrest, civil war & upheaval
Student Life Insurance
Student life insurance provides financial support to your children to accomplish their educational goals.
What you get!
- Financial assistance for children to achieve their educational goals
- Waiver of Premium*
- Tax savings plan
Key Features
- Policy Term: 8 years – 19 years
- Premium Term: 5 years – 16 years
- Get started with 1,000,000 Kyats or up to 100,000,000 Kyats
- Insurable Age:
- Policyholder: 18 – 55 years old
- Insured: 1 year (30 days) – 12 years old
Benefits
- Death
- Total Permanent Disability
- Cash payout for Children’s Education (25% of Sum Assured x 4)
- Waiver of premium*
*Wavier of premium means exemption of premium payment upon policyholder’s death/total permanent disability during premium term.
Exclusions
- Commits suicide within one year from policy issued date
- Have undisclosed pre-existing disease or illness
- Intentional self-harm within one year from policy issued date
- Abuse of narcotic drugs
- Involvement in a criminal case
Short Term Endowment Life Insurance
Short Term Endowment life insurance aims to provide financial assistance in case of unanticipated events as well as to save a predetermined amount of money after a certain period.
What You Get
• Financial security
• Good savings habit
• Tax savings plan
Key Features
• Policy Term: 5 years, 7 years, 10 years (As you choose)
• Premium Term: 5 years, 7 years, 10 years
• Get started with 1,000,000 Kyats or up to 50,000,000 Kyats
• Insurable Age: 10 – 60 years old
Benefits
• Death
• Maturity
• Total Permanent Disability
Exclusions
Death
• Due to voluntarily committing suicide within one year of policy term.
• Due to undisclosed pre-existing illness or disease within one year of policy term.
Total Permanent Disability
• Intentional self-harm
• Suicide attempt
• Abuse of narcotic drugs
• Take illegal medicine/tablets
• Involvement in a criminal case.
• Undisclosed pre-existing illness or disease
Education Life Insurance
Education life insurance provides financial support to your children to accomplish their educational goals.
What You Get
- Financial aid for academic study
- Waiver of Premium*
- Tax savings Plan
Key Features
- Policy Term: 9 years, 11 years, 14 years (As you choose)
- Premium Term: 5 years, 7 years, 10 years
- Get started with 5,000,000 Kyats or up to 100,000,000 Kyats
- Insurable Age: 18 – 56 years old
Benefits
Basic Benefits
- Cash payout for Children’s Education (20% of Sum Assured x 5)
- Waiver of premium*
Double Benefits
- Death
- Total Permanent Disability
- Cash payout for Children’s Education (20% of Sum Assured x 5)
- Waiver of premium*
*Waiver of premium means exemption of premium payment upon policyholder’s death/total permanent disability during premium term.
Exclusions
-
Death
The cause of death is due to:
-
Committing suicide within one year of policy term.
-
Undisclosed pre-existing illness or disease within one year of policy term.
-
Total Permanent Disability
The company will not liable if the causes of permanent disability are due to the following reasons:
-
Intentional self-harm
-
Suicide attempt
-
Abuse of narcotic drugs or uncertified medicine/ tablets
-
Involvement in a criminal case
-
Undisclosed pre-existing illness or disease