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 without-profit single term insurance plan. Under this plan, a pre-decided Sum Assured is payable on death during the term of the policy.
What's included
Key highlights
- Single-premium term plan
- Funeral benefit Rs. 10,000
- Accidental disability cover up to Rs. 150,000
Features
- Death benefit: Sum assured payable on death during policy term
- Funeral expenses: Rs. 10,000 payable on death
- Disability benefit (accident): up to Rs. 150,000
- Single premium payable at inception
- No surrender value, no paid-up value, 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.
Optional riders
No optional riders are attached to this plan.
Questions about this plan
What kind of plan is Term Micro Insurance?
Term Micro Insurance 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 Term Micro Insurance?
The entry age for Term Micro Insurance is 18 – 64 years.
How long does Term Micro Insurance run?
The policy term for Term Micro Insurance is 1 – 15 years.
How much cover can I take on Term Micro Insurance?
The sum assured available on Term Micro Insurance is From Rs 1,50,000.
Premium
Quote on request