This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. Combination life and accident group micro-term insurance with limited underwriting, issued through microfinance institutions and cooperatives to protect borrowers and accountholders. Pays lump-sum for death, accidental death/permanent total disability and funeral expenses.
What's included
Key highlights
- Combined life & accident cover
- Targeted at microfinance / cooperative customers
- Premium determined based on census
Features
- Life and accident coverage
- Limited underwriting (premium based on census)
- Lump-sum funeral expense benefit
- Issued through microfinance institutions & cooperatives
- Issue age: 18–70 years
- Policy term: 1–6 years
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 Rural Term Insurance?
Rural Term Insurance from MetLife 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 Rural Term Insurance?
The entry age for Rural Term Insurance is 18 – 70 years.
How long does Rural Term Insurance run?
The policy term for Rural Term Insurance is 1 to 6 Years.
Which riders can be added to Rural Term Insurance?
Rural Term Insurance can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request