Group Micro Term Insurance 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.

Entry age

18 – 69 years

Policy term

1 – 5 years

Sum assured

Rs 10,000 – Rs 5,00,000

Premium modes

Single

Death benefit

Sum Assured payable to master policy holder (to be distributed to nominee/beneficiary)

Maturity benefit

Not Applicable

• 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.

Policy loan

Not available

Paid-up value

No

Partial withdrawal

No