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CML Micro Non-Par Endowment (Regular)

In our commitment to extending insurance coverage to all Nepalese, both in rural and urban areas, particularly focusing on those facing challenges in accessing life insurance—especially the economically disadvantaged, impoverished, and marginalized individuals—we present the CML Micro Life Non-Par Endowment Plan. This initiative aims to ensure that economic circumstances do not bar individuals from securing life insurance according to their financial capacity, thereby fostering economic and social security.

The standout feature of this plan is the annual addition of Rs. 45 (Guaranteed Addition) for every Rs. 1000 of the total sum assured, reinforcing the economic stability of the insured. In the unfortunate event of the insured's demise during the policy period, a lump sum payment, inclusive of the sum assured and the accumulated guaranteed addition up to that point, will be provided. Conversely, should the insured survive until the policy matures, they will receive the sum assured along with the accrued guaranteed addition.

This insurance plan not only offers security but also ensures an attractive profit return in the future, making it akin to an investment plan. Thus, it stands as a noteworthy addition to the micro-insurance sector, providing a secure and lucrative option for individuals seeking financial protection and growth.

1) Provisions of this plan:

Entry Age                    : Min 18 years to Max 60 years

Policy Term                 : 5 years to 25 years

Max Maturity Age      : 70 years

Sum Assured               : 10,000 to 5,00,000

Mode of Payment       : Yearly / Half Yearly / Quarterly / Monthly

 

2) Benefits of the Insurance Plan:

  1. a) If the insured remains alive until the maturity of the plan then in accordance with the terms of the policy sum assured and guaranteed addition Rs. 45 for every Rs. 1000 of the sum assured for every year will be paid.
  2. b) If the insured dies before the maturity of the active policy, then in accordance with the terms of the policy sum assured and guaranteed addition Rs. 45 for every Rs. 1000 of the sum assured for every year until the date of death will be paid.

3) Additional benefits or riders:

By paying some additional premium, following additional benefits can be added.

  1. a) Accidental Death Benefit
  2. b) Total Permanent Disability
  3. c) Premium Waiver Benefit

4) Surrender, Loan and Paid-up value will be provided in this plan.

Last updated on: May 2, 2024 @ 2:15 pm

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