Manulife Myanmar has launched two life insurance products designed to help families make better financial decisions and improve their financial security. Families in Myanmar can now choose Manulife Protector to safeguard their financial future and Manulife Education Life to save for a child’s education. Both plans also offer unique COVID-19 benefits. Manulife Protector is a comprehensive life insurance plan that is designed to protect the insured’s family in an unexpected and unfortunate event when the insured can no longer do so. Also, it is kind of long-term savings if the protection is not needed.
Customers can start a life insurance plan for K5,000,000 with flexible payment terms. The oldest age for life insurance is 55 years old for the 10-year plan and 45 years old for the 20-year plan. Manulife Education Life allows parents to save for their child’s future education, with insurance to take care of the child’s education needs in the unexpected and unfortunate event if they are not able to do so. It can start with a face amount of K5,000,000 and offers flexible premium payment terms, as well as the option to select Double Benefit for extra life insurance protection. Customers that purchase either plan from now until 31 December 2020 are automatically entitled to special COVID-19 benefits that cover themselves and immediate family members.
These provide a potential maximum one-time K600,000 total payouts if the life insured and/or their immediate family members (maximum four payments per family) are diagnosed with COVID-19; a further K600,000 to cover intensive care costs if the life insured is hospitalized in an ICU ward; and an extra death benefit of K6,000,000, if the life insured unfortunately passes away due to COVID-19.Manulife Protector and Manulife Education Life are now available. Customers can purchase the plans from Manulife agents.
Source: The Global New Light of Myanmar