Samuhik Myadi Laghu Jeevan Beema (Group Micro Term Insurance)
by Liberty Micro life Insurance
This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. This is a non-linked, non-participating, single-premium group micro term insurance plan offered to affinity groups (co-operatives, NGOs, self-help groups, microfinance borrowers, etc.). One Master Policy is issued to the nodal agency covering all members. On death of a member during the policy term, the Sum Assured is payable to the Master Policy Holder. No maturity benefit is payable.
What's included
Key highlights
- Single-premium group term plan
- Cover issued to Master Policy Holder
- Maturity benefit: Not applicable
- NIA approval present
Features
- Non-linked, non-participating plan
- Single-premium payment
- Issued as one Master Policy to a nodal agency
- Designed for affinity groups (co-ops, NGOs, self‑help groups, microfinance borrowers)
- Death benefit payable to Master Policy Holder for onward transfer to nominee
- No maturity benefit
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 to Master Policy Holder
If the policy runs to maturity
This plan states: Not Applicable
Optional riders
No optional riders are attached to this plan.
Loan & liquidity
- Policy loan
- Not available
- Paid-up value
- No
- Partial withdrawal
- No
Questions about this plan
What kind of plan is Samuhik Myadi Laghu Jeevan Beema (Group Micro Term Insurance)?
Samuhik Myadi Laghu Jeevan Beema (Group Micro Term Insurance) from Liberty 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.
What is paid if the insured passes away during the term?
Sum Assured payable to Master Policy Holder
What is paid when Samuhik Myadi Laghu Jeevan Beema (Group Micro Term Insurance) matures?
Not Applicable
Premium
Quote on request