Crest Micro Term Insurance Plan

Crest Micro Term Insurance Plan is a Non-linked, Non-Participating, Individual Life Term Insurance plan, which offers protection benefits to the life assured. It is offered to the individual lives who takes loans from the banks, finance companies and self-help groups, credit societies etc. It can be offered to the individual life who did not have formal life insurance cover.

Plan Features: Criteria

Minimum Sum Assured 5000.00
Maximum Sum Assured 500000.00
Minimum Policy Term 1 Yrs
Maximum Policy Term 5 Yrs
Minimum Entry Age 16 Yrs
Maximum Entry Age 65 Yrs
Maximum Maturity Age 70 Yrs
Premium Payment Frequency Yearly, Single

Death Benefits

On death of the life assured during the policy term, the Sum Assured will be payable to the nominees/legal heirs of the life assured. The policy will be terminated upon such payment.

  • With or Without Profits: Without Profits
  • Survival Benefits: No survival benefits are payable under this plan
  • Paid up Value: Not available
  • Surrender Value: Not available
  • Policy Loan Provisions: Not available
  • Bonus: Not applicable.

Crest Micro Group Plan

Crest Micro Group Plan is a Traditional Non-Participating Term Micro Insurance Plan. This is a One Year Renewable Group Insurance Plan targeting the Members of Organized Institutions, Micro Finance and Cooperatives by giving protection to the extent of small loans availed by the Members. A Master Policy will be issued to the Group Policyholder which is an Institution covering their Members by way of a Group Policy. Certificate of Insurance will be issued to the Members covered under this Plan. The Minimum Group Size is 20.

Policy Benefits:

  • Death Benefit:
    An amount equal to Base Sum Assured is payable in case of death of the Member during the Policy Term
  • Accidental Death Benefit:
    An additional amount equal to Base Sum Assured is payable in case of death of the Member during the Policy Term due to Accident
  • Accidental Total Permanent Disability Benefit:
    An amount equal to Base Sum Assured is payable in case of Disability of the Member arising from Accident during the Policy Term

The Insurance Cover of the Member terminates once if any one of the above Policy Benefits is settled

There are no Survival, Surrender and Maturity Benefits under this Plan. At the end of one year, the Insurance coverage can be renewed for another one year by payment of Renewal Premium

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