Single Premium Credit Life Insurance

Food for thought

Mr. Ko, 36 years old, bought a condo for 300 million MMK. He then took up a 5 years Single Premium Credit Life Insurance and paid a one-time premium of 7.17 million MMK.

Mr. Ko passed away three years later due to and accident. With the insurance paid out from credit life insurance, the condo’s loan is paid up. Mr. Ko’s beloved can carry on their life normally without having to worry about future mortgage repayments.

Peace of mind should not come with a heavy financial burden.

Have you ever wondered how your loved ones will settle your loans and liabilities in the event of unfortunate circumstances such as death or permanent disability?

Single Premium Credit Life Insurance helps to provide financial protection to your loved ones should you encounter any unfortunate events.

Peace of mind should not come with a heavy financial burden.

Enjoy Key Benefits

Lump sum payment of sum insured upon accident death and total permanent disability without having to repay the loan.

Provide Peace of mind

Insured person can transfer the benefits to more than one person.

Prevent your loved ones from financial hardship

Terms

Key Feature

The insured person is entitled to transfer the insurance benefits to anyone or more than one person, financial institution, and banks according to the proportional percentage.

Insurance Period

The insurance period is from 3 to 15 years and has to be fit with the loan repayment period.

Age Limitation

From Age 18 years to 62 years can be insured. However, since the insured can only insure up to 65 years of age, the 62-year-old can only insure for 3 years.

Sum Insured

Minimum 1,000,000 MMK to the maximum amount can be limited by the banks and related financial institutions with their alternative calculations.

Why Work With EFI Life?

Life is a journey of uncertainties. And since 2018, we have made it our mission to people find the assurance they need. As a subsidiary of Excellent Fortune Development Group, a top multi-sector conglomerate with a presence in the financial, real estate, mining, agricultural, and industrial sector, we are financially sound and strong. We are committed to creating a positive social impact through our products and services that serve the protection, savings, and investment needs of different life stages and for all segments of society.

EFI Life is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, EFI Life aims to become a leading Myanmar insurer that changes the way people feel about insurance. Come journey with us! Let us help you live life truly. Let’s #livelifetruly. Together!

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