Smart Savings 5/2 Life Insurance
Smart savings 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
• 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
• 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)
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