SajiloBima

Group Micro Term Insurance Plan

by गार्डियन माइक्रो लाइफ इन्स्योरेन्स नेपाल

Term
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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, 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

  • समूह मास्टर पोलिसी
  • एकपटक प्रिमियम
  • मृत्यु मात्र कभर

Features

  • एक पटक तिर्ने (single premium) नन-पार्टिसिपेटिङ योजना
  • समूह (Master Policy) मार्फत कभर, न्यूनतम समूह-साइज़ 20 सदस्य
  • मृत्यु हुँदा मास्टर पोलिसी होल्डरलाई बीमा रकम भुक्तानी
  • वैकल्पिक फ्युनरल बेनिफिट / सर्पदंश (स्नेकबाइट)
  • सुरुमा कम्तीमा 75% सदस्यले योजनामा सामेल हुनुपर्छ
Terms and conditions
  1. Conditions for eligibility:
  2. Only one Master policy will be issued to the Nodal Agency.
  3. Premium Payment is the responsibility of Nodal Agency.
  4. Claims amount will be paid to the nodal agency, which will in turn settle the member’s claim amount.
  5. At inception, at least 75% of the existing members should join the scheme.
  6. After inception, all new members should be compulsorily covered under the scheme
  7. Nodal agency should submit declaration of good health (DGH) of all the members at inception / joining.
  8. The sum assured can be fixed amount depending on membership, outstanding loan amount etc.

गार्डियन माइक्रो लाइफ इन्स्योरेन्स नेपाल’s page for 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.

  1. If the insured passes away during the term

    This plan states: Sum Assured payable to master policy holder (to be distributed to nominee/beneficiary)

  2. If the policy runs to maturity

    This plan states: 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

Premium

Quote on request

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