Capital Taiyo Saving Life Insurance
Objective
It is a type of insurance that not only provides coverage for a short duration but also offers potential savings. Maturity benefits will be paid at the end of the insurance period. Coverage for death and permanent disability throughout the policy term.Age limitation
Age (10) to (65) yearsPolicy Term
3 years (or) 5 years (or) 7 years (or) 10 yearsSum Insured
Minimum Sum Insured – MMK 500,000Premium Payment
Single Lumpsum payment, Monthly, Quarterly, Semi-Annually, Annual Installment paymentGrace Period for the premium payment installment
The grace period for the premium payment installment extends from the due date of the premium until the end of the fourth succeeding month
Maturity BenefitDeath BenefitTotal Permanent Disability Benefit
Maturity Benefit
The Maturity Benefit can be claimed in the following two ways. 1. Lump sum payment 2. Paying in installments
Death Benefit
If the insured passes away during the term of the policy, the death benefit on the date of death will be paid as a lump sum to the beneficiary person. Once the death benefit is paid, the insurance coverage for that insured concludes.
The death benefits are as follows:
Death resulting from an accident (※) during the insurance period. (Accidental death)
If the event occurs during the term of the insurance, an amount equal to three times the maturity benefit amount will be paid. (In the case of a Paid-up policy, three times the remaining maturity benefit after the paid up.)
If the event occurs during the term of the insurance, an amount equal to three times the maturity benefit amount will be paid. (In the case of a Paid-up policy, three times the remaining maturity benefit after the paid up.) (※) Damage resulting from sudden and accidental external impact, such as death due to a car accident.
Death, except during the term of the insurance period (1). (conventional death)
If it is within 30 days from the contract start date, only the paid premium will be refunded.
In the event of death after 2 years from the effective date of the policy, an amount equal to the maturity benefit will be paid. (In the case of a paid-up policy, the same amount as the maturity benefit remains after the paid-up.)
If it is within 30 days from the contract start date, only the paid premium will be refunded.
If it is beyond 30 days from the contract start date but within 2 years, the compensation will be as follows:
1.For installment policies, five times the monthly premium plus the premiums paid until the time of death will be provided.
2.Lump sum policy: The same amount as the lump sum premium will be paid.
3.Paid-up Policy: After the policy is paid up, an amount equal to the remaining maturity benefit will be paid.
In the event of death after 2 years from the effective date of the policy, an amount equal to the maturity benefit will be paid. (In the case of a paid-up policy, the same amount as the maturity benefit remains after the paid-up.)
Death during the maturity benefit installment period:
The amount equivalent to the present value of the remaining installment benefit will be paid.
The amount equivalent to the present value of the remaining installment benefit will be paid.
Total Permanent Disability Benefit
Permanent disability means any of the following events:
Total blindness in both eyes.
Total severing of both arms above the wrist renders them completely unusable.
Total severing of both legs above the ankle renders them completely unusable.
Total blindness in one eye and total severing of one hand above the wrist renders it completely unusable.
Total blindness in one eye and total severing of one leg above the ankle renders it completely unusable.
To be eligible for permanent disability benefits, the permanent disability must persist for a minimum of 90 consecutive days and require a certificate of permanent disability issued by a treating physician. If necessary, a certificate of permanent disability issued by two doctors appointed by the insurance company must also be submitted.
Total blindness in both eyes.Total severing of both arms above the wrist renders them completely unusable.Total severing of both legs above the ankle renders them completely unusable.Total blindness in one eye and total severing of one hand above the wrist renders it completely unusable.Total blindness in one eye and total severing of one leg above the ankle renders it completely unusable.To be eligible for permanent disability benefits, the permanent disability must persist for a minimum of 90 consecutive days and require a certificate of permanent disability issued by a treating physician. If necessary, a certificate of permanent disability issued by two doctors appointed by the insurance company must also be submitted.Surrender Value
A policy that has paid premiums for 6 months or more, if the contract is canceled during the insurance period, surrender value will be paid to the policyholder.Paid-up policy
An insurance contract that meets the following conditions will automatically be converted into a paid-up policy.
Minimum of 6 months of premium payments.
Unpaid any premium during the grace period in the 7th month and beyond.
Minimum of 6 months of premium payments.Unpaid any premium during the grace period in the 7th month and beyond.The sum assured of a paid-up policy is calculated based on the amount of premium existing at the time of conversion to a paid-up policy.The death benefit will not be paid if any of the following conditions apply.
The insured commits suicide within 2 years.
Caused by the intentional act or gross negligence of the policyholder. (*)
The insured person commits a crime or violates the law.
Caused by the intentional act or gross negligence of the beneficiary person.
Caused by the use of drugs or controlled substances.
Caused by AIDS/HIV infection.
Causes caused by war, riots, violence, or events similar to them will not be covered. (However, if the insured involuntarily participates in these events, benefits may be provided, subject to the company's discretion. Depending on the extent of the impact, benefits may be granted in full or reduced.)
Caused by pre-existing diseases that the insured had at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)
Caused by pre-existing diseases that the insured was aware of at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)
The insured commits suicide within 2 years.Caused by the intentional act or gross negligence of the policyholder. (*)The insured person commits a crime or violates the law. Caused by the intentional act or gross negligence of the beneficiary person. Caused by the use of drugs or controlled substances.Caused by AIDS/HIV infection.Causes caused by war, riots, violence, or events similar to them will not be covered. (However, if the insured involuntarily participates in these events, benefits may be provided, subject to the company's discretion. Depending on the extent of the impact, benefits may be granted in full or reduced.) Caused by pre-existing diseases that the insured had at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)Caused by pre-existing diseases that the insured was aware of at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)The total permanent disability benefit will not be paid if any of the following conditions apply:
Caused by the intentional act or gross negligence of the policyholder.
Caused by the intentional act or gross negligence of the insured.
The insured person commits a crime or violates the law.
They attempted suicide but did not succeed.
Caused by the use of drugs or controlled substances.
Caused by AIDS/HIV infection.
Causes caused by war, riots, violence, or events similar to them will not be covered. (However, if the insured involuntarily participates in these events, benefits may be provided, subject to the company's discretion. Depending on the extent of the impact, benefits may be granted in full or reduced.)
Caused by pre-existing diseases that the insured had at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)
Caused by pre-existing diseases that the insured was aware of at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.)
Caused by the intentional act or gross negligence of the policyholder.Caused by the intentional act or gross negligence of the insured. The insured person commits a crime or violates the law.They attempted suicide but did not succeed.Caused by the use of drugs or controlled substances.Caused by AIDS/HIV infection.Causes caused by war, riots, violence, or events similar to them will not be covered. (However, if the insured involuntarily participates in these events, benefits may be provided, subject to the company's discretion. Depending on the extent of the impact, benefits may be granted in full or reduced.) Caused by pre-existing diseases that the insured had at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.) Caused by pre-existing diseases that the insured was aware of at the time of purchasing the policy. (Intentions, whether good or bad, were omitted from mention.) (*) Gross negligence, for example, encompasses events that can be prevented by simply following standard procedures.
Accidents caused by driving under the effect of alcohol.Fishing near the seashore during storms results in accidents, such as swimming, etc.