CML Micro Non-Par Endowment (Regular)
CML Micro Non-Par Endowment (Regular) is a micro life insurance plan designed to provide affordable protection with a guaranteed annual addition of Rs.45 per Rs.1,000 of sum assured. On death during the policy term the Sum Assured plus accumulated guaranteed additions is paid as a lump sum; on survival at maturity the Sum Assured plus accrued guaranteed additions is paid.
What's included
Key highlights
- Guaranteed addition Rs.45/1000 p.a.
- Sum assured Rs.10,000–500,000
- Policy term 5–25 yrs
Features
- Guaranteed annual addition of Rs.45 per Rs.1,000
- Death benefit: Sum assured + accumulated guaranteed additions
- Maturity benefit: Sum assured + accumulated guaranteed additions
- Sum assured Rs.10,000–Rs.500,000
- Surrender, loan and paid-up options available
- Optional riders: Multiple raiders available
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
This plan states: Sum Assured + Accumulated Guaranteed Addition (Rs.45 per Rs.1000 per year)
If the policy runs to maturity
This plan states: Sum Assured + Accumulated Guaranteed Addition (Rs.45 per Rs.1000 per year)
If death is caused by an accident
This plan states: Available as rider (sum assured or additional as per rider terms)
Optional riders
Accidental Death Benefit
Optional rider providing additional benefit on accidental death
Total Permanent Disability
Optional rider providing benefit on total permanent disability
Premium Waiver Benefit
Optional rider that waives future premiums under specified conditions
Loan & liquidity
- Policy loan
- Available
- Paid-up value
- Yes
- Partial withdrawal
- No
What's not covered
- Suicide (as per policy terms)
- War and nuclear perils
- Self-inflicted injury
- Undisclosed pre-existing conditions
Questions about this plan
What kind of plan is CML Micro Non-Par Endowment (Regular)?
CML Micro Non-Par Endowment (Regular) from Crest Micro Life Insurance is an endowment plan that pairs savings with life cover for a single adult, and suits people who want a guaranteed amount on a fixed future date.
Who can buy CML Micro Non-Par Endowment (Regular)?
The entry age for CML Micro Non-Par Endowment (Regular) is 18 – 60 years.
How long does CML Micro Non-Par Endowment (Regular) run?
The policy term for CML Micro Non-Par Endowment (Regular) is 5 – 25 years.
How much cover can I take on CML Micro Non-Par Endowment (Regular)?
The sum assured available on CML Micro Non-Par Endowment (Regular) is Rs 10,000 – Rs 5,00,000.
What is paid if the insured passes away during the term?
Sum Assured + Accumulated Guaranteed Addition (Rs.45 per Rs.1000 per year)
What is paid when CML Micro Non-Par Endowment (Regular) matures?
Sum Assured + Accumulated Guaranteed Addition (Rs.45 per Rs.1000 per year)
Which riders can be added to CML Micro Non-Par Endowment (Regular)?
CML Micro Non-Par Endowment (Regular) can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request