FNI Myanmar

Product Information

Group Life Insurance

            This class of insurance which compensates for accidental injuries, total disability and death can be jointly purchased by the employees/workers of companies, departments and factories/mills themselves or the employer to insure then against the said risks.

Who can be insured =      Employees/Workers aged from 18 to 60 years in a group with at least 5 or more of them.
Sum insured =      Minimum kyats 10,000/- to maximum kyats 5 million per  worker/employee
Premium Rates  =      1.00% of the sum insured
Term (duration)  =      One year

Benefits

            In the event of a worker/employee sustaining injury, the following Benefits are attainable:-

No.

Injury

Benefit (Sum Insured)

1.

Incapacity by total disability to work

100%

2.

Total blindness of one eye (100% loss of eye sight

50%

3.

Physical severance of one hand

50%

4.

Physical severance of one leg

50%

5.

Fracture of one hand  

25%

6.

Fracture of one leg     

25%

Apart from those injuries, for others, compensations will be paid in proportion to the percentage certified by the physician.

Death

If a worker/employee dies within the insurance period (term), then the Beneficiary will be paid the sum insured.

Conditions

Those above 45 years of age and those with sum insured of kyats 1 million and more must be medically examined. The yearly premium must be paid in a lump sum. A worker/employee who resigns or transfer to another factory/job can be substituted by another.

Benefits are not attainable for suicide, injury or death caused by use of narcotic drugs, injury sustained in committing a criminal offence and self-inflicted injury.

In the case of resignation or dismissal by or of a worker/employee, injury or death which occurs to him/her after the date of the said resignation or dismissal is not covered by this insurance.

If you want to insure

Please contact F.N.I head-office or its branches or agents dealing with F.N.I.