Any group of minimum 5 individuals within 18 to 60 years old should take this policy to ensure the peace of mind for workers from companies, factories, workshops and associations and their families’ future.
The following risks of the workers are covered during the policy term under this policy.
The proposer (who will become the policy holder) can purchase this insurance for-
Sum insured per employee is from minimum (10,000) MMK to maximum (50) million.
Policy term for the Group Life Insurance is (1) year.
Premium rate is 1% of the sum insured.
Premium has to be paid in a lump-sum.
If any of the employees on the list of insured is dead for any reason during the policy term, the beneficiary is entitled to claim the full sum insured through the employer.
If any of the employees on the insured list is injured during the policy term, the benefits will be entitled due to the table rates. Suitable benefit will be paid according to the doctor's recommendation for injuries that are not listed on the chart.
If any of the employees on the list of insured is permanently disabled and being unable to work at all due to the injury during the policy term, the beneficiary is entitled to claim the full sum insured.
If the policyholder would like to make changes the following instances within the policy term, please inform KBZ LIFE Offices or KBZ LIFE agents for the endorsement. For instance-
If you would like to purchase this Group Life Insurance, you can either contact the KBZ LIFE employee or KBZ LIFE Insurance Agent or online and the following procedures are required.
Our KBZ LIFE and KBZ LIFE’s representatives are ready to provide service if you need to purchase the insurance. You can contact KBZ LIFE and representatives. The representative will follow through until the insurance is completed.
If you ever encounter any unfortunate events, address your concerns to us.
KBZ LIFE will provide assistance to expedite claims.