GGI Insurance launched a short term endowment life insurance, the first of its kind in Myanmar, at Pan Pacific Hotel in Yangon on August 3.

These aged between 10 and 60 may have such a kind of insurance with an amount of K1 million to K50 million. The period of insurance can be five, seven or ten years, and a premium can be paid ever month, every three months, every six months or every year.

For the premium, it will include interest rate. But it is unlike banks. Banks pay interest depending on savings. In insurance, the interest rate will be 6 percent depending on birth and death rates. It also depends on age group. Younger people can receive larger interest rate. But average rate is 6 percent.

Source: Daily Eleven

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