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Qualification Criteria for Insurance Solutions Advisors

An Insurance Solutions Advisor (Insurance Agent) candidate shall satisfy the following qualification criteria:

Must be an Ordinary Resident of Myanmar
Must be at least 18 years old, fit and with pleasing personality
Must have passed the matriculation exam (or) must have work experience in the insurance sector for at least five years
Must not have been declared bankrupt
Must not have been convicted of a criminal offense or any offence involving dishonesty, fraud or misrepresentation
Must not be involved in money laundering or financing terrorism activities
Must not have been denied or rejected for an insurance agent license or a broker license
Must satisfy such other requirements which may be prescribed by the FRD from time to time

Requirements for Obtaining Insurance Agent License

An applicant for the general insurance agent license shall fulfil the following requirements:

Shall have attended the agent training course conducted by the Insurance Agent Training Institute or the in-house training conducted by the relevant insurance company
Shall have passed a qualification test conducted by the Insurance Agent Testing Centre
Shall obtain approval from the IBRB for the issuance of insurance agent license

Qualification Criteria for Insurance Solutions Directors

An Insurance Solutions Director (Corporate Insurance Agent) candidate shall satisfy the following qualification criteria:

All individuals involved in the conduct of business by the corporate insurance agent must have in place valid insurance agent licenses
A financial institution which intends to undertake business as corporate insurance agent shall comprise of at least three individuals who have valid insurance licenses
Corporate insurance agents are to adhere to the Insurance Business Law, the relevant rules, regulations, directives or any other existing law affecting their conduct of business
Any management level personnel in the corporate insurance agent must not be engaged by any other insurance business
The corporate insurance agent must satisfy such other requirements which may be prescribed by the FRD from time to time

Requirements for Obtaining Corporate Insurance Agent License

A corporate insurance agent shall submit an application for a license to the IBRB, which shall include the following:

Registered name and date of incorporation (a certified true copy issued by the Directorate of Investment and Company Administration)
Address of head office and name of the responsible agent
Details of the members of the Board of Directors
A certified true copy of the company’s Constitution
List of the insurance agents and certified true copies of their licenses
Such other information as may be prescribed by the FRD
A minimum paid-up capital of MMK 15,000,000

Renewal Period	First Year	Second Year Onward
Health Bonus %	10%	5%

Table of Benefits (in MMK)	AYA HEALTH
Table of Benefits (in MMK)	PLUS	PRO	PRESTIGE	PRIME
Maximum Benefit PRIME Plan only : Additional Limit of up to 44,000,000 MMK, applies to Thailand Zone	11,000,000	11,000,000	11,000,000	11,000,000
Medical and Hospital Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Ambulance Services	165,000	165,000	165,000	165,000
Hospitalization Costs Accommodation in a standard single-bedded room and meals: Medical Treatment and services ordered by a Physician, including: Surgeon’s and Anesthetist’s charges Physician, Consultant and Nursing charges Diagnostic Procedures (including CT, MRI and PET scans) Surgical Appliances and Prostheses Medicines, Drugs and Dressings Intensive Care Day-Care	Full Refund	Full Refund	Full Refund	Full Refund
Post-Hospitalization Treatment	Nil	Nil	Nil	Nil
Chronic Conditions
First Onset	11,000,000	11,000,000	11,000,000	11,000,000
Ongoing Management	5,500,000	5,500,000	5,500,000	5,500,000
Maternity Cover (10 Months Waiting Period) Pre-Natal Examinations by a Physician All costs of Normal Childbirth or C-Section (elective or non-elective) Post-Natal Examinations by a Physician	Nil	Nil	Nil	1,100,000
Thailand Zone
Hospitalization Costs	Nil	Nil	Nil	44,000,000
Transportation Costs				2,200,000
Transportation Costs for Treatment not available in the Geographic Area				5,500,000
Additional Deductible for Treatment outside the Geographic Area				55,000
Outpatient Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Physicians fees, Prescription Drugs and Dressings Specialist and Consultant Fees Diagnostic tests, medical scanning and imagery services	220,000	440,000	660,000	660,000
Optical Care One annual Vision test Glasses Glaucoma Test for Participants over 45 years	Nil	Nil	Nil	220,000
Dental Care Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Dental Treatment Dental Surgery	Nil	Nil	Nil	220,000
Personal Accident Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Accidental Death Loss of Sight or Loss of Limb Permanent Total Disablement	11,000,000	11,000,000	11,000,000	11,000,000

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Qualification Criteria for Insurance Solutions Advisors

Qualification Criteria for Insurance Solutions Directors