This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. This is a one-year single premium term plan targeted at the micro-insurance segment. It provides financial protection against death or permanent total disability due to accident during the policy term, with additional payout on accidental death and a funeral expense benefit. There is no survival benefit.
What's included
Key highlights
- Term plan targeted at micro-insurance segment
- Covers accidental death and permanent total disability
- Additional 10% of Sum assured for funeral expenses
Features
- Sum assured from NPR 10,000 up to NPR 300,000
- Policy term fixed at 1 year
- Single premium payable at inception
- Death benefit payable to nominee during policy term
- Funeral expenses: 10% of Sum Assured payable on death
- Accidental death: additional Sum Assured payable
- Permanent total disability due to accident: Sum Assured payable
- No survival benefit; no surrender value, no paid-up, no loan
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the full sum assured. There is no savings element, so nothing else accrues.
Typical for term plans — confirm the exact terms in the brochure.
If the policy runs to maturity
There is no maturity payout. The premium buys cover for the term, not savings.
Typical for term plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for term plans — confirm the exact terms in the brochure.
Optional riders
Questions about this plan
What kind of plan is Jeevan Madhur?
Jeevan Madhur from LIC Nepal is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Jeevan Madhur?
The entry age for Jeevan Madhur is 18 – 60 years.
How long does Jeevan Madhur run?
The policy term for Jeevan Madhur is 1 – 1 years.
How much cover can I take on Jeevan Madhur?
The sum assured available on Jeevan Madhur is From Rs 10,000.
Which riders can be added to Jeevan Madhur?
Jeevan Madhur can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request