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.
- 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
- You can buy as with the warranty of lending that you left to pay from 3 years to 15 years.
- 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.
- 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.
Single Premium Rate per 1,000 Sum Insured
- 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.