Manulife Credit Life Protector

The insured person must be a minimum of 18 years old, and no more than 65 years old (minus the policy term) at the time of purchasing the insurance.

The minimum sum that can be insured is MMK 3,000,000.

In the case of death or TPD of the insured party, 100% of the amount outlined on the policy’s Benefit Schedule Table. Any amount in excess of the outstanding loan will be paid to the beneficiary or life insured.

The premium payment for Manulife Credit Life Protector is a single-time payment premium, which means you only need to pay once when the policy is issued.

This policy will end:

(a) When we receive your notice in writing to end the policy
(b) When the insured party dies or is eligible for TPD benefit
(c) When the policy expires

If the insurance benefit is higher than the loan amount, any amount in excess of the outstanding loan will be paid to the beneficiary or life insured.