Guardian Micro Term Insurance Plan
This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. A non-linked, non-participating individual term life insurance plan providing protection (death benefit) to the life assured. Targeted at micro borrowers and individuals without formal life cover.
What's included
Key highlights
- Affordable micro protection
- Coverage from NPR 5,000
- Designed for borrowers / micro customers
Features
- Non-linked, non-participating term plan
- Policy term: 1 year
- Death benefit payable to nominees; policy terminates on payment
- No survival/maturity benefit
- No paid-up, surrender value or policy loan
- Without profits (no bonuses)
- Premium frequency: Yearly
Terms and conditions
- Death Benefits
- On death of the life assured during the policy term, the Sum Assured will be payable to the nominees/legal heirs of the life assured. The policy will be terminated upon such payment.
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
The nominee receives the full sum assured. There is no savings element, so nothing else accrues.
Typical for term plans — confirm the exact terms in the brochure.
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.
Optional riders
No optional riders are attached to this plan.
Questions about this plan
What kind of plan is Guardian Micro Term Insurance Plan?
Guardian Micro Term Insurance Plan from Guardian Micro Life Insurance Nepal 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 Guardian Micro Term Insurance Plan?
The entry age for Guardian Micro Term Insurance Plan is 16 – 65 years.
How long does Guardian Micro Term Insurance Plan run?
The policy term for Guardian Micro Term Insurance Plan is 1 year.
How much cover can I take on Guardian Micro Term Insurance Plan?
The sum assured available on Guardian Micro Term Insurance Plan is Rs 5,000 – Rs 5,00,000.
Premium
Quote on request