Term Insurance(Additional Protection)
Objective
Term insurance (Additional Protection) is a type of insurance that provides more substantial and effective financial protection in the event of unforeseen life-threatening events. It offers coverage for death and permanent disability during 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 2,000,000Premium 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 monthAvailable Plans
"Gold Plan" and "Silver Plan" are available.Currently, it is only possible to purchase together with Capital Taiyo Saving Life Insurance (Triple Protection) as a ProCover Plan.
Death BenefitTotal Permanent Disability Benefit
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.
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.
During the term of the insurance,if the insured person permanently disabled for any reason, and it is determined that there is no possibility of recovery, the permanent disability benefit will be paid out as a single lump sum. After the permanent disability benefit has been paid, the insurance coverage will cease.
As a permanent disability benefit, the same amount of death benefit described above will be paid.
Surrender Value
No surrender value is issued for this type of insurance.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.