Академический Документы
Профессиональный Документы
Культура Документы
Represented by:
IVBM-45 Myat Nyein Su
IVBM-57 Khine Zar Thwe
IVBM-64 Bo Bo Zaw
IVBM-83 Khine Khine Nyein
IVBM-85 Hla HLa Win
IVBM-90 May Thu Kyaw
IVBM-114 May Thet Khine
Insurance
Insurance service offered by financial institutions (FIs) compensate
individuals and corporations (policy holders) if a pre-specified adverse
event occurs, in exchange for premium paid to the insurer by the
policyholder. The insurance provider can act either as an insurance
underwriter or an insurance broker. An insurance underwriter assesses the
risk of an applicant for coverage or for a policy. An insurance broker simply
sells insurance contracts for coverage or for a policy. A broker acts more as
a middleman between the insurance underwriter and applicants. Insurance
service classified into two major groups. (1) Life (2) property-casualty. Life
insurance provides protection in the event of untimely death, illness, and
retirement.
Life Insurance
Life insurance is a contract between an insured policy holder and an
insurer. The insurer promises to pay a designated beneficiary a sum of
money in exchange for a premium, upon the death of the insured person.
Depending on the contract, other events such as terminal illness or critical
illness can also trigger payment. The policy holder typically pays a
premium, either regularly or as one lump sum. Other expenses can also be
included in the benefits.
Life policies are legal contracts and the terms of the contract describe
the limitations of the insured events. Specific exclusions are often written
into the contract to limit the liability of the insurer; common examples are
claims relating to suicide, fraud, war, riot, and civil commotion.
Insurance is key to human being able to focus on the important things
in life, because it will ensure financial security for people and their family
should anything unfortunate happens. When large financial burdens like
hospital bills or medical charges arise, insurance helps meet the costs,
allowing pursuing dreams.
Available services
Life protection
1. DIRECT - Great Life
The direct purchase insurance plans can be purchased directly from
Great Eastern. Great Life is an alternative way to purchase basic lifetime
protection with savings elements. Additionally, coverage can be extended
with various options for protection against 30 critical illnesses.
Term Plans
Term plans are affordable insurance plans that provide essential
protection, yet are easy on the customers' pocket. They provide protection
against death, total and permanent disability1 and terminal illness2. There
are two kinds of plan.
DIRECT Great Term is a level-premium term plan, which means
that the same premium throughout the policy term has to be paid. A policy
term of 20 years or up to age 65 next birthday can be chosen.
DIRECT Great 5yr Term is a five-year renewable term insurance
plan. It is renewable for the same sum assured at the date of expiry or
any subsequent expiry dates up to age 80 next birthday of the life
assured. The term of such renewal will be five years.
Benefits
3. FlexiLife
Flexilife is a whole life insurance plan that allows the customers to
customize the protection, and also lets them choose when and how they
pay for coverage that can grow over time.
Key Benefits
Lifetime protection against death, presumptive total and permanent
disability and terminal illness.
FlexiLife comes with presumptive total and permanent disability
benefit which protects the customers against total and permanent
disability throughout their lifetime. And if they are diagnosed with a
terminal illness, FlexiLife has got they covered. This benefit that they
will receive can provide their family with funds to cope with any loss
of income, pay unexpected expenses, or even serve as their financial
legacy for their loved ones.
Flexible payment terms.
FlexiLife gives customers the flexibility to decide a payment term that
best suits them. As customers, they can choose to pay their
premiums in one lump sum or opt to pay over a 20-year payment
term or up to age 80 next birthday.
such as critical
There are two supplementary benefits that customers could consider for
their FlexiLife plan.
1. Financial backup against critical illness.
Protection with a critical illness cover provides a lump sum payout upon
diagnosis of any of the 37 covered critical illnesses such as major
cancers, stroke, heart attack and kidney failure. The benefit that extends
coverage to early stage critical illnesses can be chosen. The financial
payout will be helpful to defray costly surgery, nursing care expenses
and rehabilitation treatments.
2. Continued income upon disability
It extends their coverage with a disability income benefit that provides a
continuous source of income during the period of a disability. It also
supplements their income if they suffer a salary reduction when they
return to work in a reduced capacity.
4. FlexiLife Multiplier
FlexiLife Multiplier offers the customers lifelong coverage against
death, critical or terminal illness, and total and permanent disability. Plus, in
the years when it matters most, the customers will enjoy the reassurance of
up to three times the sum assured so that they and their loved ones have
even greater protection against the unexpected.
Key Benefits
Instant upsize coverage of up to three times the sum assured.
FlexiLife Multiplier gives customers the guaranteed extra boost to
their coverage of up to three times their sum assured until the age of
65. Whats more, the plan provides a cash-accumulating feature that
can potentially grow their policys cash value over time, as they enjoy
lifetime protection.
Lifetime protection against death, 37 critical illnesses, terminal illness
and presumptive total and permanent disability.
FlexiLife Multiplier, together with the Critical Illness Protector
Multiplier rider, fully covers the customers throughout their lifetime
against death, 37 critical illnesses, terminal illness, and presumptive
total and permanent disability. The multiplier benefit from the plan will
be the useful source of funds to help their family overcome the loss of
the breadwinner, or support them with unexpected medical expenses.
Even though the multiplier benefit stops at age 65, their coverage
including the critical illness benefit continues to last for life.
Choice of payment terms that suit the customers' budget and
preferences.
Customers can select the premium payment term that best suits their
financial priorities 15 years, 20 years or up to age 65 next birthday.
MortgageCare
MortgageCare is a home loan insurance plan that covers the
customers' remaining mortgage payments, so that their loved ones will
continue to have a roof over their heads. Plus, unchanging premiums will
be paid only for limited years, while protection continues right through the
plan term.
Key Benefits
Mortgage settlement.
In the event of death or disability before the buyers reach 65 years of
age, their family will receive a lump sum amount thatll help pay off the
mortgage.
Enjoy joint coverage as a co-owner.
If buyer and the spouse are co-owners of the house, a joint-life
Mortgage Care plan will ensure mortgage settlement if anything
happens to either of them.
Get add-on cover for illnesses too.
For even greater assurance, the buyer can opt to also be covered
against 37 critical illnesses with the MortgageCare (Living Assurance)
plan.
5. Prestige Harvest
Customers have worked hard to build their wealth and they want to
ensure that itll keep customers and their family in comfort, for any case in
the future. Customers can safeguard with Prestige Harvest, a US dollar
plan that helps with estate and retirement planning.
Key benefits
Ensure customers loved ones are looked after
Set aside a portion of their wealth with a single investment to enjoy
the reassurance of a high sum assured.
Watch their plan grow in value
Their plan's cash value keeps growing over time at a crediting rate
determined by Great Eastern helping them build their wealth.
Build customers nest egg for retirement
Having secured the future of their family, theyll have freed up funds
thatll make their older years financially comfortable.
Enjoy the reassurance of ready cash for emergencies
When customers need extra cash, they can make a partial
withdrawal, surrender their plan, or take out a loan against it.
6.
Health protection
1. Critical Care Advantage
Be covered across three stages of illness-early, intermediate
and critical
Critical illnesses such as cancer, heart attack and stroke may,
unfortunately, strike at any time. But early treatment and care gives
customers a better chance of recovery.
With large lump sum payouts right from the start, the Critical Care
Advantage plan enables them to seek treatment earlier. Customersll enjoy
coverage for as many as 37 illnesses, across three stages-early,
intermediate and critical.
Key benefits
Get the reassurance of high payouts
Be covered for 92 medical conditions
Pay no more premiums after a claim
Living (ADLs), this insurance plan offers them a payout of up to $400* per
month, for up to 72 months.
Key Benefits
Receive two payouts upon first claim
Extend coverage or enjoy it for life
Pay premiums through MediSave
4. LifeSecure
Enjoy lifelong coverage against disability
Ensure that customers savings are protected against the unforeseen.
If customers are disabled because of injury or illness, LifeSecure offers
them the reassurance of a monthly income, throughout their life.
These monthly payouts will help provide for daily expenses,
specialized care, rehabilitation and home tuition (for children unable to
attend school- the plan also covers children as young as one year old).
Key benefits
Receive monthly payouts for life
Receive up to six times the payout
Pay no premium when receiving payouts
5. Pay Assure
It protects customers salary with a financial lifeline. For example,
their family depends on their salary. And customers have the bills to pay
every month. If a sudden illness or injury leaves customers unable to work,
customers will difficult to pay for everyday expenses and meet their regular
financial commitments.
Pay Assure is made for such situation and provides for customers
and for their family. If the illness or injury keeps customers away from work,
customers will receive a monthly income of up to 75% of their monthly
salary. This income protection plan helps customers focus on getting well,
rather than worrying about money.
Key Benefits
Receive income until customers retire
Get partial income if customers pay drops.
Enjoy a rehabilitation benefit
o Pay no premiums when receiving benefit
o Choose when their benefits begins
6. Supreme MediCash
Customers receive guaranteed income even while customers are
hospitalized. Supreme MediCash pays a daily cash benefit for each day
spend in hospital. It can use the money to pay for alternative treatments,
supplement lost income or pay for anything.
Key Benefits
Collect a daily hospital cash pacustomerst
Receive a lump sum recovery payment
Renew even if customers have claimed before
o Stay covered even when customers are abroad.
o Enjoy renewal discount on premium
7. Supreme Health
It is a health insurance solution that covers customers hospitalization
expenses, all through life. And this protection continues even after
customers make a claim.
Key Benefits
Get high reimbursements, lifelong
Enjoy comprehensive coverage
Be free of pre-admission hassles
o Enjoy greater protection as a women
o Be covered for psychiatric care, too
8. Total Shield
It fully covers against the costs of hospitalization. And add-on to
Supreme Health hospitalization plan, Total Shield completes all around
protection. It takes care of the deductible and co-insurance portions of
hospital bill, both of which are payment required by regulation to bear when
claiming reimbursement under Supreme Health plan.
Key Benefits
Complement Supreme Health coverage
Get post-hospital Traditional Chinese Medicine ( TCM ) treatment
cover
Enjoy benefits as accompanying parent
o Receive cash incentive while in hospital
o Enjoy hospice care benefit
o Stretch hospital coverage worldwide
1. AccidentCare Plus II
AccidentCare Plus is tailored to meet individual needs. Offering yearround coverage against accident across the globe, this fully customizable
personal accident insurance plan lets you choose protection to suit both
customers needs as well as budget.
Key benefits
Be reimbursed for medical expenses. Customers will be paid back for
accident related medical expenses including physiotherapy,
Traditional Chinese Medicine (TCM) and chiropractic treatments.
Receive payout upon disability
If customers were unable to work because of accident, they will
receive a weekly cash benefit for up to 104 weeks.
Get evacuation and repatriation cover
The plan covers customers for overseas evacuation expenses upon
accidental injury as well as repatriation upon accidental death.
Get a daily hospitalization payout
Customers will a cash benefit if they are hospitalized because of an
accident.
Get help with recovery
Reimbursement for mobility aids is covered- so customers can
concentrate on getting better.
Get extra coverage as a woman
The plan offers more to women: an additional 20% on the
hospitalization benefits as well as the sum assured for accidental
death and permanent disablement.
Enjoy full benefits as a motorcyclist
Good news for motorcycle riders- this accident plan offers customers
full benefits with just an additional 15% on the standard premium of
each occupational class.
5. PA Supreme
Customers enjoy 24-hour insurance coverage for them and their
family anywhere around the world. They want the family to enjoy life to the
full, but accidents never have good timing. Medical expenses can easily
send customers best-laid plans to a grinding halt. Thats why PA Supreme
provides 24-hour insurance coverage for customers and their family
anywhere around the world. So they are able to rest easy and enjoy what
life has to offer.
Key benefits
Up to S$500,000 for death/long-term disablement S$500/week
allowance for temporary disablement
Up to S$50,000 for emergency medical evacuation