Group Micro Term Insurance Plan
Term
Sum assured
Rs 10,000
Premium / yr
On request
Term
1–5 yrs
Entry age
18–69
About this plan
A non-linked, non-participating, single-premium group micro term life insurance for affinity groups (cooperatives, NGOs, microfinance borrowers, etc.). Death benefit only; no maturity benefit. Coverage issued under a master policy to a nodal agency.
What's included
Key highlights
- Master policy (group)
- Single premium
- Death-only cover
Features
- Single-premium, non-participating plan
- Master policy group coverage; minimum group size 20 members
- Death benefit payable to master policy holder
- Optional funeral benefit and snakebite benefit
- At inception at least 75% of existing members must join; nodal agency must submit
Eligibility & term
- Entry age
- 18 – 69 years
- Policy term
- 1 – 5 years
- Sum assured
- Rs 10,000 – Rs 5,00,000
- Premium modes
- Single
Benefits payout
- Death benefit
- Sum Assured payable to master policy holder (to be distributed to nominee/beneficiary)
- Maturity benefit
- Not Applicable
Optional riders
Accidental death (ADB)PTD / PWBCritical illness (CI)
Funeral Benefit
Additional amount equal to 30% of Sum Assured or NPR 25,000 whichever is less. Optional; additional premium required.
Snakebite Benefit
Actual medical expenses subject to maximum of NPR 5,000 if diagnosed as snakebite envenomation. Optional; additional premium required.
Loan & liquidity
- Policy loan
- Not available
- Paid-up value
- No
- Partial withdrawal
- No
Other plans from Guardian Micro Life Insurance Nepal
Premium
Quote on request