Group Term Assurance (Samuhik Myadi Jeevan Beema)
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 yearly-renewable group term life insurance for employees/members/customers of an organization. Minimum 25 members required (can be issued for as few as 10 with additional premium). Full sum assured paid on death during policy term; no maturity benefit.
What's included
Key highlights
- Full sum assured on death
- 1 year (renewable annually)
- Minimum members: 25
- No maturity benefit
Features
- Full sum assured payable on death
- Renewable annually (Policy term: 1 year)
- Minimum 25 members (can issue for 10 with extra premium)
- Optional rider: Sun Medicare (Emergency medical rider)
Terms and conditions
- 1.On Death During the Policy Term: Full sum assured is paid to the beneficiary.
- 2.On Survival to Maturity: No benefit is payable.
- 3. No loan available under this plan
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: Full Sum Assured
If the policy runs to maturity
This plan states: No benefit
Optional riders
Sun Medicare
Emergency medical rider
Loan & liquidity
- Policy loan
- Not available
Questions about this plan
What kind of plan is Group Term Assurance (Samuhik Myadi Jeevan Beema)?
Group Term Assurance (Samuhik Myadi Jeevan Beema) from Sun Nepal 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.
Who can buy Group Term Assurance (Samuhik Myadi Jeevan Beema)?
The entry age for Group Term Assurance (Samuhik Myadi Jeevan Beema) is 18 – 64 years.
How long does Group Term Assurance (Samuhik Myadi Jeevan Beema) run?
The policy term for Group Term Assurance (Samuhik Myadi Jeevan Beema) is 1 – 1 years.
What is paid if the insured passes away during the term?
Full Sum Assured
What is paid when Group Term Assurance (Samuhik Myadi Jeevan Beema) matures?
No benefit
Premium
Quote on request