- info@gmli.com.np
- Biratnagar(Head Office)
- 021-590902
- Kathmandu(Regional Office)
- 01-5918017/18
Sana Bachat Laghu Jeevan Beema Yojana
This is a non-linked, non-participating, regular premium Micro Endowment Assurance plan, which provides savings and insurance cover to the life assured. This is specially designed to cover individual life who did not have formal life insurance cover and savings arrangements particularly in the micro finance sector. The description of the benefits is given below.
Plan Features: Criteria
Minimum Sum Assured | NRs. 10,000 /- |
Maximum Sum Assured | NRs. 500,000 /- |
Minimum Policy Term | 6 |
Maximum Policy Term | 25 |
Minimum Entry Age | 18 Yrs |
Maximum Entry Age | 55 Yrs |
Maximum Maturity Age | 70 Yrs |
Mode of Premium Payment | Quarterly, Half-yearly & Yearly |
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
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.
Accidental Benefit Rider:
ABR provides medical/treatment expense reimbursement in the event of an injury due to accident and a life cover protection in the event of death due to an accident of the life assured.
Accidental Death Benefit:
During the policy term, on death of the life assured due to an accident (ie due to external cause), rider sum assured is payable to the nominee/beneficiary.
The policy terminates upon such payments.
Accidental Total and Permanent Disability Benefit Rider:
In the event of total and permanent disability of the life assured due to any cause, within six months of the date of the accident, following benefits will be paid to the policyholder:
- Loss of both hands/ both feet – 100% of Sum Assured
- Complete and irrecoverable loss of sight in both eyes – 100% of Sum Assured
- Loss of one hand or one foot together with complete and irrecoverable loss of sight in one eye – 100% of Sum Assured
- Loss of one hand/foot – 50% of Sum Assured
- Complete and irrecoverable loss of hearing in both ears – 50% of Sum Assured
- Complete and irrecoverable loss of sight in one eye – 50% of Sum Assured