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What is Credit Life Insurance?

GGI Nippon Life’s Credit Life Insurance is a type of life insurance that pays off the scheduled outstanding loan coverage amounts to banks, microfinance firms and other financial institutions in the unfortunate event of premature death or total permanent disability.

Insured Person Age
Insured Person Age

From the age of (18) to (64) years old.

Policy Term
Policy Term

Minimum (1) year to maximum (15) years.

Sum Insured Amount
Sum Insured Amount

Minimum (100) thousand kyats to maximum (300) million kyats.

Payment Mode
Payment Mode

Lump sum.

Core Benefits

  • Prevailing sum assured to be paid out to the beneficiary in the event of pre-mature death or total permanent disability of the Life Insured.

Key Features

Hassle free one-time payment of premium for the entire term of the insurance policy.

Policy term options of one to fifteen years to fit the repayment timeline of your loans.

Choice of full coverage against the original loan amount or reducing coverage over the scheduled duration of your loan repayment term.

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FAQs About Credit Life Insurance

If you have Credit Life Insurance, you will be eligible for an income tax deduction on the premiums paid.

Credit Life Insurance’s policy term ranges from 1 year to 15 years and can be aligned with the remaining term of the loan.

Not Sure which Insurance to Buy?

Find the insurance plan that’s right for you in no time, with options that suit your lifestyle and budget.

Other Related Products

Farmer’s Life Insurance

Our Farmer’s Life Insurance policies are tailored to the needs of agricultural workers.

Credit Life Insurance

You can now face the future with greater peace of mind. GGI Nippon Life’s Credit Life Insurance is a type of life insurance that pays off the scheduled outstanding loan coverage amounts to banks

Flexi Life Insurance

Flexi Life Insurance is a life insurance savings plan with flexible options that allow you to tap into your emergency fund for key needs and milestones in life, without compromising on the protection of full life insurance coverage.