Group Life Insurance
- Either employer or employees themselves can buy this type of policy.
- Insured individuals must look healthy.
- Employer must approve the insured state of health.
| Age | -18 yrs to 60 yrs |
| Number of Individual | -5 members and above |
| Total Sum Insured (each individual) | -Ks. 10,000 (Min) to Ks. 5,000,000 (Max) |
| Premium Rate | -1 % (of Total Sum Insured for each individual) |
| Insured Period | -1 year |
| Medical Check-up | -Medical Check-up is a requirement for individuals above the age of 45 and whose total sum insured is more than Ks.l ,000,000 |
If the insured employee(s) changed the position, resigned or was dismissed, the employer
- Has the right to replace the name of insured worker with a new one.
- Can extend the policy for the next year when it expires.
Exclusion
- Cases of death or injury of the individual after s/he has resigned or been dismissed from the group/organization.
- Suicide, Intentional self injury or when the insured commits crime.
Benefits
- The claim can be made upon the insured's dealth or injury.
- The following benefits can be claimed according to the doctor's medical report.
SrouceFrom: http://www.insuranceinmyanmar.com/
