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 plus accrued guaranteed addition 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:

  1. Loss of both hands/ both feet – 100% of Sum Assured
  2. Complete and irrecoverable loss of sight in both eyes – 100% of Sum Assured
  3. Loss of one hand or one foot together with complete and irrecoverable loss of sight in one eye – 100% of Sum Assured
  4. Loss of one hand/foot – 50% of Sum Assured
  5. Complete and irrecoverable loss of hearing in both ears – 50% of Sum Assured
  6. Complete and irrecoverable loss of sight in one eye – 50% of Sum Assured

The rider benefit will terminate upon such payment.

For more details;

Guardian Micro Life Insurance
Munal Path, Biratnagar Phone no. 021-590902
Sano Gaucharan, Kathmandu Phone no. 01-5918017 / 18
Email: info@gmli.com.np