CML Micro Non-Par Endowment (Single)
Single premium micro endowment plan with a guaranteed addition of Rs.50 per Rs.1,000 of sum assured per year.. On death or maturity the sum assured plus accumulated guaranteed additions are paid as a lump sum.
What's included
Key highlights
- Single premium
- Guaranteed addition Rs.50 per Rs.1,000/year
- Entry age 18–60
Features
- Sum assured from Rs.10,000 to Rs.500,000
- Guaranteed addition Rs.50 per Rs.1,000 per year
- Single one-time premium payment
- Death benefit: sum assured + accumulated guaranteed additions
- Maturity benefit: sum assured + accumulated guaranteed additions
- Surrender, loan and paid-up values available
- Optional riders available
Terms and conditions
- Benefits of the Insurance Plan:
- 1) If the insured remains alive until the maturity of the plan then in accordance with the terms of the policy sum assured and guaranteed addition Rs. 50 for every Rs. 1000 of the sum assured for every year will be paid.
- 2)If the insured dies before the maturity of the active policy, then in accordance with the terms of the policy sum assured and guaranteed addition Rs. 50 for every Rs. 1000 of the sum assured for every year until the date of death will be paid.
- 3) Surrender, Loan and Paid-up value will be provided in this plan.
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.50 per Rs.1000 per year)
If the policy runs to maturity
This plan states: Sum Assured + accumulated guaranteed addition (Rs.50 per Rs.1000 per year)
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for endowment plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit
Additional benefit payable on accidental death (available as rider on payment of extra premium).
Total Permanent Disability
Rider providing benefit or waiver on total permanent disability (available on payment of extra premium).
Premium Waiver Benefit
Rider to waive future premiums on specified events (available on payment of extra premium).
Loan & liquidity
- Policy loan
- Available
- Paid-up value
- Yes
Questions about this plan
What kind of plan is CML Micro Non-Par Endowment (Single)?
CML Micro Non-Par Endowment (Single) 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 (Single)?
The entry age for CML Micro Non-Par Endowment (Single) is 18 – 60 years.
How long does CML Micro Non-Par Endowment (Single) run?
The policy term for CML Micro Non-Par Endowment (Single) is 5 – 25 years.
How much cover can I take on CML Micro Non-Par Endowment (Single)?
The sum assured available on CML Micro Non-Par Endowment (Single) 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.50 per Rs.1000 per year)
What is paid when CML Micro Non-Par Endowment (Single) matures?
Sum Assured + accumulated guaranteed addition (Rs.50 per Rs.1000 per year)
Which riders can be added to CML Micro Non-Par Endowment (Single)?
CML Micro Non-Par Endowment (Single) can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request