Samriddhi Laghu Jeevan Beema Yojana
A micro endowment life insurance plan targeted at low-income and marginalized groups offering nominal premiums, guaranteed maturity and death benefits features.
What's included
Key highlights
- Minimum sum assured from NPR 10,000
- Policy term 5–20 years
- Maximum maturity age 70 years
- Surrender and loan facility after 3 years (up to 90%)
- Provides tax discounts
Features
- Affordable/nominal premium entry
- Guaranteed maturity and death benefits
- Premium waiver rider available
- Acts as a disciplined savings tool
- Supports children's education and future needs
- Surrender benefit and loan facility available after 3 years
Terms and conditions
- A. Surrender Benefit
- Only after paying complete 3-year policy premium and after policy completion of 3-year, policy will be eligible for surrender.
- B. Loan Benefit
- Only after paying complete 3-year policy premium and after policy completion of 3-year, loan facilities will be eligible up to 90 % of surrender value.
- C. Death Benefit
- If insured die before the maturity of the active policy than in accordance with the terms and conditions of the policy, sum assured and guaranteed addition amount acquired by policy will be provided.
- D. Maturity Benefit
- If insured remains alive until the maturity of the policy than in accordance with the terms and conditions of the policy, sum assured and guaranteed addition amount acquired by policy will be provided.
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 + Guaranteed Addition
If the policy runs to maturity
This plan states: Sum Assured + Guaranteed Addition
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 death due to accident
Total Permanent Disability
Benefit on total and permanent disability due to accident/illness
Premium Waiver Benefit
Waives future premiums in case of insured's death/disability (as per rider terms)
Loan & liquidity
- Policy loan
- Available
- Surrender allowed
- After 3 years
- Paid-up value
- Yes
- Partial withdrawal
- No
What's not covered
- Suicide within waiting period
- War and related perils
- Undisclosed pre-existing conditions
Questions about this plan
What kind of plan is Samriddhi Laghu Jeevan Beema Yojana?
Samriddhi Laghu Jeevan Beema Yojana 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 Samriddhi Laghu Jeevan Beema Yojana?
The entry age for Samriddhi Laghu Jeevan Beema Yojana is 18 – 60 years.
How long does Samriddhi Laghu Jeevan Beema Yojana run?
The policy term for Samriddhi Laghu Jeevan Beema Yojana is 5 – 20 years.
How much cover can I take on Samriddhi Laghu Jeevan Beema Yojana?
The sum assured available on Samriddhi Laghu Jeevan Beema Yojana is Rs 10,000 – Rs 5,00,000.
What is paid if the insured passes away during the term?
Sum Assured + Guaranteed Addition
What is paid when Samriddhi Laghu Jeevan Beema Yojana matures?
Sum Assured + Guaranteed Addition
Which riders can be added to Samriddhi Laghu Jeevan Beema Yojana?
Samriddhi Laghu Jeevan Beema Yojana can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request