- info@gmli.com.np
- Biratnagar(Head Office)
- 021-590902
- Kathmandu(Regional Office)
- 01-5918017/18
This is a non-linked, non-participating, single premium Group Micro Term Insurance plan. This Product is offered to affinity groups, where a group can exist for a particular purpose like members of a co-operative credit society, members of NGOs, self-help group, loanee members of the micro finance organizations, non-employee - employer organizations, etc. One Master Policy will be issued to the Nodal Agency where all the members are covered under the policy. The benefits offered under this plan are given below.
Minimum Sum Size | 20 Members |
Minimum Sum Assured | NRs.10,000 /- |
Maximum Sum Assured | NRs. 500000 /- |
Minimum Policy Term | 1 |
Maximum Policy Term | 5 |
Minimum Entry Age | 18 Yrs |
Maximum Entry Age | 69 Yrs |
Maximum Maturity Age | 70 Yrs |
Mode of Premium Payment | Single |
On death of the life assured (member of the group scheme) during the policy term, sum assured is payable to the master policy holder who in turn pays the benefit amount to the nominee/beneficiary.
The sum assured can be fixed amount depending on membership, outstanding loan amount etc.
Last updated on: September 24, 2024 @ 10:41 am
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