en_US English
en_US English my_MM Myanmar
AML/CFT UNSCR Sanction Whistleblowing
Home » Life Insurance » Single Premium Credit Life Insurance

SINGLE PREMIUM CREDIT LIFE INSURANCE

That kind of Insurance is a kind of Insurance that is helped when you can't give back your loan because of unexpected damages. That insurance is a type of Loan Life insurance which is Decreasing Sum Insured.

Insurable Persons

  • Must be between 18 and 62 years old.
  • People who get loan from Banks and Non-Bank Financial Service Providers, the organization of financial and small lending business

Insured Period

  • You can buy as with the warranty of lending that you left to pay from 3 years to 15 years.

Medical Check-Up

  • If a person is insure within from 1 lkhs to 30 lkhs, he must agree that he is in good health.
  • If you want to insure up to 30 lkhs, you need to take medical check-up
  • The doctors and nurses who joint with Insurance company will check for you

Filling Nomination Letter

  • The one who want insure have to sent one by one nomination letter or if it’s a group, they have to sent their nomination letter to Insurance company.

Sum Insured

  • You can insure the loan amount from at least 1,000,000 kyats or the amount specified by the bank , financial institution or microfinance institution.
  • Depending on the sum insured and the age of the insured, a medical examination may be needed.

Premium rate

Single Premium Rate per 1,000 Sum Insured
Entry Age 3 Years 4 Years 5 Years 6 Years 7 Years 8 Years 9 Years 10 Years 11 Years 12 Years 13 Years 14 Years 15 Years
18 6.6 8.4 10.4 12.5 14.7 17.0 19.4 21.9 24.4 26.9 29.6 32.2 34.9
19 6.8 8.8 10.8 13.0 15.3 17.7 20.1 22.6 25.2 27.9 30.6 33.3 36.1
20 7.1 9.1 11.3 13.5 15.9 18.3 20.9 23.5 26.1 28.9 31.6 34.5 37.3
21 7.4 9.5 11.7 14.1 16.5 19.1 21.7 24.4 27.1 30.0 32.8 35.7 38.6
22 7.7 9.9 12.2 14.7 17.2 19.9 22.6 25.4 28.2 31.1 34.0 37.0 40.0
23 8.1 10.4 12.8 15.4 18.0 20.7 23.6 26.4 29.4 32.4 35.4 38.5 41.6
24 8.5 10.9 13.4 16.1 18.8 21.7 24.6 27.6 30.6 33.7 36.9 40.0 43.2
25 8.9 11.4 14.1 16.8 19.7 22.7 25.7 28.8 32.0 35.2 38.4 41.6 44.9
26 9.3 12.0 14.7 17.7 20.7 23.8 27.0 30.1 33.4 36.7 40.0 43.3 46.6
27 9.8 12.6 15.5 18.6 21.8 25.0 28.3 31.6 34.9 38.3 41.7 45.1 48.5
28 10.4 13.4 16.5 19.7 23.0 26.3 29.7 33.2 36.6 40.1 43.6 47.1 50.6
29 11.0 14.1 17.4 20.7 24.2 27.7 31.2 34.7 38.2 41.9 45.4 49.0 52.6
30 11.6 14.9 18.3 21.8 25.4 29.0 32.6 36.2 39.9 43.6 47.3 51.0 54.6
31 12.2 15.7 19.3 22.9 26.6 30.3 34.1 37.8 41.6 45.4 49.1 52.9 56.7
32 12.8 16.5 20.2 24.0 27.8 31.7 35.5 39.4 43.3 47.2 51.0 54.9 58.7
33 13.4 17.3 21.1 25.1 29.0 33.0 37.0 41.0 44.9 48.9 52.8 56.8 60.7
34 14.0 18.1 22.1 26.2 30.3 34.4 38.4 42.5 46.6 50.7 54.7 58.7 62.7
35 14.7 18.9 23.0 27.2 31.5 35.7 39.9 44.0 48.2 52.4 56.5 60.6 64.7
36 15.3 19.6 23.9 28.3 32.6 37.0 41.3 45.5 49.8 54.1 58.3 62.5 66.6
37 15.9 20.4 24.8 29.3 33.8 38.2 42.6 47.0 51.4 55.7 60.0 64.3 68.6
38 16.4 21.1 25.6 30.2 34.8 39.4 43.9 48.4 52.9 57.3 61.8 66.2 70.6
39 16.9 21.7 26.5 31.2 35.9 40.6 45.2 49.8 54.4 59.0 63.6 68.2 72.7
40 17.5 22.4 27.3 32.2 37.0 41.8 46.6 51.3 56.0 60.8 65.5 70.2 74.9
41 18.0 23.1 28.1 33.2 38.1 43.1 48.0 52.9 57.8 62.6 67.5 72.4 77.2
42 18.6 23.9 29.0 34.2 39.3 44.4 49.5 54.5 59.6 64.6 69.7 74.7 79.8
43 19.2 24.6 30.0 35.3 40.6 45.9 51.1 56.4 61.6 66.8 72.1 77.3 82.6
44 19.8 25.4 31.0 36.5 42.0 47.5 52.9 58.3 63.8 69.2 74.7 80.2 85.6
45 20.4 26.3 32.0 37.7 43.5 49.2 54.8 60.5 66.2 71.9 77.6 83.3 89.0
46 21.1 27.2 33.2 39.2 45.2 51.1 57.0 62.9 68.9 74.8 80.8 86.8 92.8
47 21.9 28.3 34.6 40.9 47.1 53.3 59.6 65.8 72.0 78.2 84.6 91.0 97.4
48 23.1 29.8 36.4 43.0 49.6 56.1 62.7 69.2 75.8 82.4 89.0 95.8 102.5
49 24.3 31.3 38.3 45.2 52.1 59.0 65.9 72.8 79.7 86.8 93.8 101.0 108.1
50 25.5 32.9 40.2 47.5 54.9 62.1 69.4 76.7 84.1 91.6 99.1 106.7 114.3
51 26.7 34.6 42.4 50.2 57.9 65.6 73.4 81.2 89.1 97.0 105.0 113.1
52 28.3 36.7 45.0 53.2 61.4 69.7 78.0 86.3 94.8 103.3 111.8
53 30.3 39.3 48.1 56.9 65.7 74.5 83.5 92.4 101.4 110.5
54 32.4 41.9 51.3 60.8 70.3 79.8 89.4 99.0 108.7
55 34.4 44.6 54.8 65.1 75.4 85.6 95.9 106.3
56 36.7 47.8 58.9 70.1 81.2 92.2 103.4
57 39.7 51.9 64.0 76.0 88.0 100.1
58 43.9 57.2 7.3 83.4 96.5
59 48.1 62.6 76.8 91.1
60 52.4 68.1 83.7
61 56.9 74.2
62 62.3

Benefits

  • The Benefit for the condition when you can't give back loan because of unexpected accident death, being disable forever.
  • The Benefit of refund and The benefit of free Tax.

Transferring The Benefits

  • Benefit of Insurance can be transferred with prefer percentage to Banks that give loan, the organization of currency, one person or more than that.