Sana Bachat Laghu Jeevan Beema Yojana
by Guardian Micro Life Insurance Nepal
A non-linked, non-participating, regular-premium micro endowment assurance plan providing savings and life cover for individuals without formal life insurance, particularly targeted at microfinance sector clients.
What's included
Key highlights
- Affordable micro-targeted savings + insurance
- Flexible short to medium term options
- Accidental riders for extra protection
Features
- Non-linked, non-participating micro endowment plan
- Maturity benefit: Sum Assured payable on survival to term
- Death benefit: Sum Assured payable to nominee on death during term
- Multiple raiders available
Terms and conditions
- 1) Maturity Benefits:
- On survival of the life assured to the end of policy term, sum assured is payable to the life assured.
- The contract terminates uponpayment of maturity benefits
- 2)Death Benefits:
- On death of the life assured during the policy term, sum assured is payable to the nominee/beneficiary.
- The contract terminates upon payment of death benefits.
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 nominee on death during policy term
If the policy runs to maturity
This plan states: Sum Assured payable on survival to end of policy term
If death is caused by an accident
This plan states: Rider Sum Assured payable if death due to accident
Optional riders
Accidental Benefit Rider
Medical/treatment expense reimbursement for injuries due to accident
Accidental Death Benefit
Rider sum assured payable on accidental death during policy term
Accidental Total and Permanent Disability Benefit Rider
Pays specified percentage of Sum Assured for various losses (e.g., loss of both hands/feet 100%, one hand/foot 50%, loss of sight/hearing per schedule)
Loan & liquidity
- Policy loan
- Not available
- Partial withdrawal
- No
Questions about this plan
What kind of plan is Sana Bachat Laghu Jeevan Beema Yojana?
Sana Bachat Laghu Jeevan Beema Yojana from Guardian Micro Life Insurance Nepal 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 Sana Bachat Laghu Jeevan Beema Yojana?
The entry age for Sana Bachat Laghu Jeevan Beema Yojana is 18 – 55 years.
How long does Sana Bachat Laghu Jeevan Beema Yojana run?
The policy term for Sana Bachat Laghu Jeevan Beema Yojana is 6 – 25 years.
How much cover can I take on Sana Bachat Laghu Jeevan Beema Yojana?
The sum assured available on Sana Bachat 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 payable to nominee on death during policy term
What is paid when Sana Bachat Laghu Jeevan Beema Yojana matures?
Sum Assured payable on survival to end of policy term
Which riders can be added to Sana Bachat Laghu Jeevan Beema Yojana?
Sana Bachat 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