Smart Saving 5/2 Life Assurance

This type of Assurance solves the Financial problems posed by the Death brought about by a variety of causes to Myanmars with middle to upper incomes and foreigners staying in Myanmar in addition to savings benefit.

This type of assurance guarantees Saving Benefit as well as Accidental Death Benefit.

No medical exam:

Benefits obtainable under this Assurance

1. Life Benefits

The Assured is entitled to the Life Benefits as tabulated below in the policy year.

2. Maturity Benefit

On the date of Maturity as stated in the Policy the Assured will be paid the Maturity Benefit which equals 210% of the initial Sum assured in a lump sum.

3. Benefits of Death and Accidental Death

In the event of the Assured’s Death within the Currency of the Policy Death Benefits will be paid to the Assignee (Beneficiary) as shown below.

1. Death Benefit

2. Accidental Death Benefit

The initial Sum assured will be paid for death occurring within the Currency of the Policy.

4. Surrender Value

Surrender Value as per the Surrender Value table will be paid to the Assured on a Policy for which premiums had been paid for One year.

5. Paid –Up Benefit

A policy for which premiums had been paid for One Year could be converted into a Paid-Up Policy. And the Paid-Up Value will be paid to the Assured on the date of maturity mentioned in the policy or to the Assignee (Beneficiary) on the Assured’s earlier death.

6. Loan

A Loan can be taken on a policy for which premium had been paid for One Year.

No Benefit Obtainable for the Following

No Benefit is Obtainable in the event of the Assured becoming Deceased or Deceased by Accident Because of the Following. But the total premium paid will be refunded to the Assignee (Beneficiary).

1. Suicide committed by the Assured within One year from inception of this insurance.
2. Intentional self-injury by the Assured.
3. Commission of a criminal offence, law – breaking by the Assured.
4. Use of a narcotic or dangerous drug.
5. Death caused by war, hostilities or warlike operations ( whether war be declared or not) or civil war. Mutiny, riot, military or popular rising, insurrection, rebellion, revolution, military or usurped power, martial law or state of siege or any of the events which causes them or consequences thereof.

Please immediately notify FNI (Life) in case of a claim.