Housing Insurance Package(အိမ်ရာချေးငွေတစ်ဆင့်အာမခံ)
The New type of Housing Insurance Package is coorperate and lunched by Shine Ye Htut Group joint venture between Myanmar Insurance Business and Ministry of Planning, Finance and Industry.
This is a new type of insurance that will benefit both the insured or the surviving family and the mortgage lender in the event of permanent disability and the damage to the loan facility.
The Insured Person has purchased a building with loan taken from Guaranteed bank and if the insured dead or pemanently disabled during the insurance period, the value of remaining loan will be keep paying by Myanmar Insurance Business. The remainder to the family without having to worry about purchasing loans and they could still own the building. The Insurance will expire at the end of the purchasing loan is clear for the building.
Loans purchased the building (fire, lightning, explosion, plane crashes, earthquakes, damage due to storm damage, roaring fire, reservoir, pipe flooding damage, burning of infected trees, damage, smoke damage, breaking stolen , damage from falling glass and type (14) Housing Insurance Package by simply buying insurance protection without having to pay an additional premium of drawing.
The Insured Person can choose two types of Insurance premiums and they are Budget Premium Insurance and Non-Budget Insurance Premium also available for installment system and cash down system. News Sources from Myanmar Insurance Business.