Aung Myint Moh Min Insurance Company Limited

Life Insurance products we have been providing are:

      1.  Endowment Life Insurance (long term basis, insurance term is at least 5 years)

      2.  Term Life Insurance (1 year term)

• Group Life
• Sportsman’s life
• Snake bite life
• Health Insurance

     Endowment Life Insurance

      Term Life Insurance This long term basis life insurance product is with saving aspect. Providing   benefits            for  maturity,  anent disability and death.

Age Limit                               –              18 to 55 (insured’s age shall be at least 18 and not older than 55)

Insurance Term                 –              at least 5 years (term more than 5 years shall be within age limit)

Sum Insured                         –              Ks. 50,000 up to 30,000,000

Premium                               –              Premium based on age, term, sum insured. Insured’s occupation and                                                                        body

                                                                      weight will be taken into account of additional premium.

               Benefits                                  –              The following benefits are entitled.

• Benefit for Death – in case of death during insurance term, lump sum of sum insured will be paid to beneficiary.
• Benefit for total permanent disability – If the assured suffers from total permanent disability during insurance term, lump sum of sum insured will be paid to the insured.
• Benefit for the maturity – lump sum of sum insured will be paid to the insured. (this benefit is not entitled to beneficiary)
• Surrender Value – Insured may surrender his/her life insurance policy.

Short term policy (5-12 years) is entitled to surrender when premium payment has made for 2 years. Long term policy (13 and above years) is entitled to surrender when premium payment has made for 3 years.

Surrender value                               =             30 % of paid premium

(government employee’s life insurance policy’s surrender value is 80% of paid premium).

 

 

• Paid-up Value – Life insurance policy may paid-up instead of surrender. Paid-up value may withdraw only at the end of term.

 

                                                                   No. of years of premium paid

Paid-up Value = Sum Insured    x  ————————————

                                                                           Insurance Term

• Discounted Value – Government employee’s life insurance policy is entitled to discounted value only at the time of 2 years before the maturity. Paid premium with deduction of 6.25 % interest may withdraw as discounted value.
• Loan –Insured may loan 95% surrender value. Interest rate on loan is only 6.25% per year.

Medical Examination Requirement        –              Medical Examination Report requires.

 

Group Life Insurance

Insured                                –              Employer may buy this insurance for his/her Employees.

Limit of Group                   –              At least 5 employees are in group for a group life insurance policy.

Age Limit                             –              18 to 60

Term                                     –              1 year

Sum Insured                       –              from Ks. 10,000 to Ks. 5,000,000 (for each insured)

(If age is over 45 and sum insured is in excess of Ks. 1 million, medical  examination report requires.)

 Premium                             –              Ks. 100 per Ten Thousand (i.e. 1 % on sum assured)

 Benefit                                 –              Lump sum of sum insured for dead and total permanent disability. Maximum                                                               50%  of sum insured is provided for bodily injury

 Sportsman’s Life Insurance

Insured                       –           Sportsman (From school level to Myanmar Selection) may buy this

                                                  insurance. Dead and injury caused by accidents during training and competition.

Age Limit                    –           from 10 to 60

Term                            –           1 year

Sum Insured              –           Ks. 1,000,000 (1 unit),

      (Limit of sum insured is up to 5 units for each sportsman)

Premium                    –           Ks. 5,000 (1 unit)

Benefit                        –           Lump sum of sum insured for dead and total permanent disability.  Maximum  50%                                                    of sum insured is provided for bodily injury. Hospitalization benefit is  Ks. 10,000/-                                                     per week up to 52 weeks. Additional Cover Only for Myanmar selected sportsman:-

Air Travel                   –           Sum insured    – Ks. 5,000,000

Premium                    –          Ks. 1000

Days of stay               –           Sum insured    –           Ks. 1,000,000

Premium                    –           Ks. 500 (for 7 days)

                                                        Ks. 1000 (for 1 month)

Snake Bite Life Insurance      –           For any person. Cover only snake bites.

Age Limit                   –           No age limit.

Term                           –           1 year

Sum Insured             –           Ks. 500,000- (1 unit), Limit of sum insured is up to 10 units for each person)

Premium                    –           Ks. 500 (1 unit)

Benefit                         –           Dead, bodily injury, medical expenses, charges for taking patient to the near hospital   or health care centre. Lump sum of sum insured for death. Maximum limit for bodily injury is 50% of sum insured and for the later is only 80,000/-

 

Travel Insurance

Insured                       –           Covers while travelling in land highway by Motor Vehicle.

Age Limit                    –           No age limit. For any passengers.

Term                            –           1 trip

Sum Insured              –           Ks. 3,000,000 (1 unit)

(Limit of sum insured is up to 2 units for each passenger)

Premium                     –           Ks. 300 (1 unit)

Benefit                        –           Lump sum of sum insured for dead and total permanent disability. Maximum80%  of  sum insured (Ks. 2,400,000 is provided for bodily injury.

  Hospitalization benefit is Ks. 2,400/- per week up to 52 weeks.

 

Health Insurance       –           Cover some part of medical expenses of those in patient who

 

Age Limit         –           6 to 65

Term               –           1 year

Sum Insured    –           For 1 unit, Maximum Ks. 450,000 for hospitalization and Ks.1,000,000

                                        For death by accident. Maximum limit of sum insured is up to 5 units each.

Premium         –           Ks. 50,000 (1 unit)

      Benefit         –     Provided Ks. 15,000 per day up to 30 days. In patient who has been taking   treatment in                                        hospital   for at least 4 days is entitled. (initial examination or diagnosis days before treatment  are not entitled). Dead caused by accident is entitled Ks. 1,000,000.

Address of Aung Myint Moh Min Insurance Co. Ltd.

No(28), Corner of Pantra Street & Shwedagon Pagoda Road, Dagon Township, Yangon Division, Myanmar.         

 

Contact phone, Fax and e-mail for any queries  –

0095-1-378962 (Fax), 0095-1-378963, 0095-1-378964

[email protected]