10 March 2020, Yangon, Myanmar – Chubb Life Myanmar today announced that it is ready to serve the people of Myanmar with Chubb Life Shield, an education life insurance plan combined with life protection and savings features.
When the unexpected happens, loved ones are left to deal with the emotional consequences, as well as the financial struggles. One of the best ways to protect your family is to plan and have the right insurance protection in place.
Chubb Life Shield encourages customers to develop good saving habits and make financial arrangements to protect their future, family and children’s education.
Offering different price options and policy terms based on customers’ needs, the plan provides financial support towards their future, family and children’s education in the unfortunate event of total permanent disability or death.
Highlights of Chubb Life Shield
Two options available:
Chubb Life Shield customers can choose between the two options: Basic Benefit Plan and Double Benefit Plan. Both plans provide premium waiver and education benefit. In the unfortunate event of a total permanent disability or death, premium will be waived and education benefit, which provides the policyholder, or their beneficiaries, with payments of 20% of the total sum insured, will be paid equally over the five consecutive years after the end of the premium payment period.
Additionally, the Double Benefit Plan provides total permanent disability benefit and death benefit. This offers a lump-sum payment equivalent to the sum insured on top of the above benefits to the policyholder, or their beneficiaries, in the event of the insured person suffering a permanent disability or death.
Available for different durations:
Chubb Life Shield is available for different lengths of time with corresponding premium payment periods, as set out in the table below. A key benefit is the bulk of the premium is paid in the early years of the policy term, which means no premium payment is required for the last four years, while still offering protection for the policyholders and their beneficiaries.
|
Policy term |
Premium payment period |
|
9 years |
5 years |
|
11 years |
7 years |
|
14 years |
10 Years |
Sum insured starts from MMK 5,000,000
Customers can choose to buy Chubb Life Shield with a minimum sum insured of MMK 5,000,000, which reflects the amount of money an insurance company is obligated to cover in the event of a covered loss.
About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: www.chubb.com
About Chubb Life
Chubb Life is the international life insurance division of Chubb. In Asia, Chubb Life operates in Hong Kong SAR, Indonesia, Korea, Myanmar, Taiwan, Thailand, Vietnam and participates in a joint-venture in China. Additional information can be found at: www.life.chubb.com/mm
Media Contacts
Shilpa Freemantle
Head of Marketing & Communications, Chubb Life
+852 2185 0207
Shilpa.freemantle@chubb.com
Thant Thiha
Marketing & Communications Manager, Chubb Life Myanmar
+ 959 7952 80908
thant.thiha@chubb.com