This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. Short-term (micro) term life insurance plan targeted to provide death cover for families at affordable premiums.
What's included
Key highlights
- Affordable premium
- Minimal documentation
- Short-term protection
Features
- Micro design — short term with affordable premiums
- Death benefit to provide financial protection to family
- Simple application with minimal documentation
Terms and conditions
- 1)Death Benefit: An amount equal to Base Sum Assured is payable in case of death of the Member during the Policy Term
- 2)The Insurance Cover of the Member terminates once if any one of the above Policy Benefits is settled
- 3)There are no Survival, Surrender and Maturity Benefits under this Plan. At the end of one year, the Insurance coverage can be renewed for another one year by payment of Renewal Premium
- 4)With or Without Profits: Without Profits
- 5) Paid up Value/Surrender Value/Policy Loan Provision: Not available
- 6) Bonus: Not applicable.
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 payable on death
If the policy runs to maturity
There is no maturity payout. The premium buys cover for the term, not savings.
Typical for term plans — confirm the exact terms in the brochure.
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 term plans — confirm the exact terms in the brochure.
Optional riders
Loan & liquidity
- Policy loan
- Not available
- Paid-up value
- No
- Partial withdrawal
- No
What's not covered
- Suicide within first 12 months
- War and civil commotion
- Self-inflicted injuries
- Undisclosed pre-existing conditions
Questions about this plan
What kind of plan is Crest Micro Term Insurance Plan?
Crest Micro Term Insurance Plan from Crest Micro Life Insurance is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Crest Micro Term Insurance Plan?
The entry age for Crest Micro Term Insurance Plan is 18 – 60 years.
How long does Crest Micro Term Insurance Plan run?
The policy term for Crest Micro Term Insurance Plan is 1 – 5 years.
How much cover can I take on Crest Micro Term Insurance Plan?
The sum assured available on Crest Micro Term Insurance Plan is From Rs 50,000.
What is paid if the insured passes away during the term?
Sum Assured payable on death
Which riders can be added to Crest Micro Term Insurance Plan?
Crest Micro Term Insurance Plan can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request