Insured – Anyone from the age of 18 to 62 and the insured can be a long term borrower/debtor from a bank/financial institution.
The following accidental risks are covered for the insured under this policy during the policy term.
Policy Owner - An individual or a legal entity (who will become the policyholder) has the insurable interest with the insured and the mutual agreement between them.
Sum Insured will be minimum 1,000,000 MMK.
Optional policy terms is from 3 years to 15 years.
The amount of premium may differ according to the entry age, insurance term and sum insured.
Premium has to be paid in a lump-sum.
In case of death during the policy term, the sum insured amount at the time of the death of the insured is payable.
In case of total permanent disability and being unable to work at all during the policy term, the sum insured amount at the time of the total permanent disability of the insured is payable.
(The benefits will only be payable to the respective Bank/Financial Institution.)
After the loan amount is fully repaid to the Banks or Financial Institutions, the policy owner can claim the remaining surrender value.
If the insured would like to make changes for the following instances within the policy term, please inform KBZ LIFE Offices or KBZ LIFE agents for the endorsement. For instance-
If you want to purchase this Single Premium Credit Life Insurance policy, please contact either the KBZ LIFE staff and the KBZ LIFE Insurance agent or online and the following procedures are required:
If required, our KBZ LIFE and our agents are ready to provide service. You can contact any agent and KBZ LIFE. The representative will follow through until the insurance end.
If you encounter an unexpected event, please send it to us.
KBZ LIFE will provide assistance to claim compensation.