This is a Non-Linked, Non-Participating, Regular and Single Premium individual micro endowment life plan providing savings and insurance cover. Designed for individuals without formal insurance coverage, especially in the microfinance sector.
What's included
Key highlights
- Micro-targeted endowment plan
- Guaranteed bonuses payable
- Loan available after 3 years (up to 90%)
- Low minimum sum assured: NPR 10,000
Features
- Minimum sum assured: NPR 10,000
- Maximum sum assured: NPR 500,000
- Policy term: 8 to 25 years
- Maturity benefit: Sum Assured + guaranteed bonuses
- Death benefit: Sum Assured + guaranteed bonuses
- Loan & surrender: Available after 3 years
Terms and conditions
- 1)Maturity Benefit: On survival at maturity, Sum Assured + guaranteed additions is payable.
- 2)Death Benefit: On death during policy term, Sum Assured + guaranteed additions is payable to nominee.
- 3)Loan & Surrender: Available after 3 years premium payment. Up to 90% surrender value loan is availiable
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 Additions
If the policy runs to maturity
This plan states: Sum Assured + Guaranteed Additions
Optional riders
No optional riders are attached to this plan.
Loan & liquidity
- Policy loan
- Available
- Surrender allowed
- After 3 years
Questions about this plan
What kind of plan is Guaranteed Growth Plan?
Guaranteed Growth Plan from Liberty 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 Guaranteed Growth Plan?
The entry age for Guaranteed Growth Plan is 18 – 65 years.
How long does Guaranteed Growth Plan run?
The policy term for Guaranteed Growth Plan is 8 – 25 years.
How much cover can I take on Guaranteed Growth Plan?
The sum assured available on Guaranteed Growth Plan is Rs 10,000 – Rs 5,00,000.
What is paid if the insured passes away during the term?
Sum Assured + Guaranteed Additions
What is paid when Guaranteed Growth Plan matures?
Sum Assured + Guaranteed Additions
Premium
Quote on request